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LONDON (MarketWatch) -- Europe stocks weakened out of the gate on Monday, a half-day of trade ahead of the New Year's holiday. Air France-KLM shares rose 1% in early trading Monday, following Friday's news that it's the preferred bidder to buy Alitalia . Cairn Energy , the Scottish oil explorer that surged last week on the back of deal speculation, strong oil prices and its re-entry into the FTSE 100, slipped 1.6%. London Scottish Bank tumbled over 16% after taking a provision and warning it won't be able to pay its final dividend. The FTSE 100 slipped 0.2% to 6,462.70 in London and the CAC 40 dipped 0.2% to 5,616.79 in Paris. German and Swiss markets were shut.

Air of Arctic origin swirls into Chicago Monday night and Tuesday, and the resultant temperature crash sends the city's readings from the lower 30s today to near zero, at least in the suburbs, 24 to 36 hours later.

SAN FRANCISCO (MarketWatch) -- Mesa Air Group Inc. shares dropped more than 4% early Friday, leading a broad decline in the sector after the carrier delayed the release of its fourth-quarter results, citing an ongoing review. Crude oil rose 86 cents to $97.48 a barrel, also pressuring the group. The Amex Airline Index lost less than 1% to 34.90 points with ExpressJet Holdings , SkyWest Inc. and AirTran Holdings the only three of the 14 components in the benchmark index logging gains. AMR Corp. and UAL Corp. both shed more than 3%.

Vigorous weather, initially as snow and then as sharply lower temperatures, will be factors of concern to Chicagoans in the near future. The passage of a strong low pressure system across the Midwest suggests we can expect several inches of snow on Friday followed by sub-zero temperatures on New Year's day. The federal Bureau of Transportation Statistics (BTS) has released surprising statistics concerning the causes of passenger slowdowns in U.S. airports--including such factors as flight delays, cancelled flights, air traffic congestion and weather. BTS statistics challenge the popular notion that adverse weather is the main cause of commercial flight problems.

BLUE chips led the market in Shanghai lower in the morning session today. The Shanghai Composite Index, which tracks yuan-denominated A shares and hard-currency B shares, fell 0.60 percent, or 33.08 points, to 5,170.19 at 11:30am today. Winners in the Shanghai market outnumbered losers 414 to 334 and 98 were unchanged. But the Shenzhen Composite Index, which covers the smaller mainland stock market, gained 0.30 percent, or 10.23 points, to 1,413.97. Airlines, banks and developers were among the worst performing sectors this morning. Air China, the world's biggest airline by market value, lost 2.70 percent, or 0.72 yuan (10 US cents), to 25.98 yuan while China Eastern, the nation's third-largest carrier, shed 2.04 percent, or 0.39 yuan, to 18.71 yuan. China Vanke, the nation's biggest listed property developer, declined 1.51 percent, or 0.42 yuan, to 27.40 yuan. Gemdale Corp, a Chinese developer allied with ING Groep NV, dropped 1.89 percent, or 0.73 yuan, to 37.85 yuan.

The last thing Birmingham residents Linda Condo and her husband Gary wanted to do was spend time in their basement because of the air drafts that whipped through the lower level.

Steering winds across North America, once wavy and able to bring arctic and tropical air into explosive contact, now blow from west to east. It�s a set-up bathing the Lower 48 in milder Pacific air. Chicago temperatures break above freezing each day this week--a welcome development in a December currently ranked 26th coldest of the past 137 years and running 4.5 (degrees) colder than the same period a year ago.

SHANGHAI stocks dropped this morning led by blue chips among airlines, banks and heavy industry. The Shanghai Composite Index, which tracks yuan-denominated A shares and hard-currency B shares, was down 0.86 percent, or 42.55 points, to 4,915.49 at 11:30am today. Losers in the Shanghai market outnumbered gainers 473 to 288 while 84 were unchanged. But the Shenzhen Composite Index, which covers the smaller mainland stock market, was virtually flat and inched up to 1,302.27 from yesterday's 1,302.25. Airlines suffered a broad sell-off and led losses this morning in the market, erasing gains yesterday due to a stronger yuan. Air China, the world's biggest airline by market value, lost 5.17 percent, or 1.33 yuan (18 US cents), to 24.42 yuan while China Eastern, the nation's third-largest carrier, shed 5.53 percent, or 1.06 yuan, to 18.11 yuan. Heavyweights in the industrial sector also contributed to the market's loss this morning. Sinopec, the country's biggest refiner,

SAN FRANCISCO (MarketWatch) -- Airline shares extended losses Tuesday, led by a 6.6% drop in the shares of Delta Air Lines, Inc. and a 4.8% drop in the shares of AMR Corp. . Southwest Airlines Co. shares tumbled 1.7% after the discount airline company said it was trimming capacity growth plans for next year to a range of 4% to 5%. UAL Corp. fell 3%; late Monday the parent of United Airlines said that airline traffic fell 1.4% as capacity slipped 1.3%, driving its load factor down to 79.6%. Crude oil futures traded lower, down $1.11 at $88.20 a barrel, while the major indexes also fell.

SHANGHAI stocks fell in the morning session led by widespread losses among airlines. The Shanghai Composite Index, which tracks both yuan-denominated A shares and hard-currency B shares, lost 0.6 percent, or 29.46 points, to 4,842.32 at 11:30am. Turnover on the Shanghai market reached 39 billion yuan (US$5.27 billion) in the morning. The Shenzhen Composite Index, which covers the smaller mainland stock market, inched up 0.58 percent, or 7.15 points, to 1,243.46. Airlines dipped on fears that rising international oil prices will cut profit by raising jet fuel costs. China Southern Airlines dropped 4.91 percent to 24.38 yuan and Shanghai Airline declined 4.82 percent to finish the session at 15.01 yuan. Air China lost 2.9 percent to 22.79 yuan and China Eastern Airlines shed 0.18 percent to 16.89 yuan. Crude oil rose as much as 1.3 percent to US$89.84 a barrel in after-hours trading in New York after Algeria and Qatar said the Organization of Petroleum Exporting Countries

Deregulation of trans-Atlantic routes should lower fares and lift the global airline industry -- but all players won't benefit equally. A look at potential winners and losers.

LONDON (MarketWatch) -- Airline Air France-KLM said Thursday that its second-quarter net profit rose 97% to 736 million euros ($1.09 billion) as revenue for the period grew 5.8% to 6.49 billion euros. The group said passenger activity remained strong, driven by long-haul flights, while its cargo unit continued to face a difficult operating environment. Net profit benefited from gains from its stake in WAM and from lower net interest charges. The group also reaffirmed its target for a further rise in operating income and a return on capital employed of 7% after tax for the full year, up from 6.5% last year.

SAN FRANCISCO (MarketWatch) -- Airline stocks dropped hard early Wednesday along with the broader stock market as crude oil closed in on the triple digit mark. The Amex Airline Index shed 3.8% to 36.60 points, with all 14 components in the benchmark gauge moving south on one of the busiest holiday travel days of the year. Crude oil prices rose another 49 cents $98.51 a barrel, off slightly from an overnight high of more than $99 a barrel. Mesa Air Group led decliners, down 8.6% at $3.28, while Continental Airlines escaped most of the damage, down less than 1%.

SAN FRANCISCO (MarketWatch) -- Airline shares slipped at the open Tuesday as traders watched oil futures tease with $96 a barrel. The Amex Airline Index slipped 0.5% with three of 14 stocks in the benchmark index trading lower. US Airways Group, Inc. fell 2.5%, one of the steepest decliners, after the Tempe, Arizona carrier said late Monday traffic fell in October. Delta Air Lines, Inc. shares rose 1.2% after the Atlanta carrier reported a jump in October traffic that packed its planes. December crude oil futures hit $96.44 a barrel in electronic trading and were last trading up nearly $2 at $95.92.

(Crain's) -- BP America Inc. plans to reduce air emissions at its refinery in Whiting, Ind., after a proposed $3.8-billion expansion, hoping to defuse criticism that the project would increase pollution. The expansion, designed to expand output and convert the plant to use more heavy, ...

SAN FRANCISCO (MarketWatch) -- Airline shares inched lower in morning trade Wednesday as oil prices resumed their climb above $91 a barrel. The Amex Airline Index fell 0.2% with 10 of 14 stocks in the benchmark index slipping. Crude oil futures were up $1.01 at $91.39 a barrel, as traders bid up the December contract ahead of the Energy Department's weekly report on petroleum inventories. Outside the index, Hawaiian Holdings shares jumped 19.6% to $5.25 a share. Late Tuesday, its flagship carrier Hawaiian Airlines said it had won a ruling over misuse of confidential information in a lawsuit against Mesa Air Group and was awarded $80 million in damages. Mesa Air shares fell 2.9% to $4.95.

SAN FRANCISCO (MarketWatch) -- Airline shares edged lower at the start Thursday, upset by oil prices that neared $89 a barrel in overnight trade but moderated by swings to profit at US Airways and Alaska Air Group . The Amex Airline Index fell 0.3%. UAL Corp. shares fell 3.1%, while shares in AMR Corp. and Southwest Airlines Co. both slid about 1%. UAL is the parent of United Airlines, while AMR is the parent of American Airlines. US Airways shares rose 1.5%, while Alaska Air shares gained 2.7%. Crude oil prices were recently up $1.34 a barrel to $88.41.

The best thing that governments can do to encourage innovation is get out of the way THE scene in Salzburg earlier this year was one that Joseph Schumpeter, an economist obsessed with innovation, and Mr Drucker, the management expert, would surely have approved of. Several dozen government officials and academics from around the world gathered at Schloss Leopoldskron, a spectacular rococo palace located on the shores of an idyllic lake. They came not for the fresh Alpine air, hearty Austrian fare or even the hills alive with music. It was for a conference organised by the Salzburg Global Seminar, a non-government organisation, to discuss what they could do to turn their economies into innovation powerhouses. Holding such a meeting in the heart of Europe seemed only fitting--and not just because the two great theorists of innovation both hailed from the region. After all, it was a European, France's Georges Doriot, who invented venture capital during his time teaching at Harvard. And it was another Frenchman, Jean-Baptiste Say, who coined the word entrepreneur two centuries ago to describe the plucky upstart who "shifts economic resources out of an area of lower and into an area of higher productivity and greater yield."

SAN FRANCISCO (MarketWatch) -- Airline shares tipped lower at the start of trading Friday, pressured by a climb in oil prices. The Amex Airlines index fell 0.6% with eight of 13 stocks in the benchmark index trading lower. Delta Air Lines Inc. led decliners among the major carriers with a 2.7% sell-off, followed by a 1.7% drop in the shares of US Airways Group Inc. and a 1.4% drop in the shares of Continental Airlines, Inc. . Among the smaller carriers, Mesa Air Group shares tumbled 3.6%. The November oil futures contract hit a new high of $83.76 a barrel overnight and was last trading at $83.44, adding to Thursday's 3% gain.

SAN FRANCISCO (MarketWatch) -- AMR Corp. led a drop in airline stocks at the start of trading Monday, as shares in the parent of American Airlines fell over 5%. The sell-off follows updated guidance late Friday that pointed to higher non-fuel costs and lower revenue growth than some analysts had been anticipating. The Amex Airlines index fell 0.8%. Other notable decliners included Continental Airlines, Inc. , down 2.6%. Bucking the trend, Mesa Air Group rose 0.8%, while Frontier Airlines, Inc. gained 1.8%. Oil prices fell but held at an historically high level over $81 a barrel.