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Travel Troubleshooter: Help! Iberia Airlines suspends a $4,005 ticket credit

Travel Troubleshooter: Help! Iberia Airlines suspends a $4,005 ticket credit

DEAR TRAVEL TROUBLESHOOTER: I canceled a recent flight on Iberia Airlines, and the airline offered me a $4,005 ticket credit, which was valid until Nov. 4. But when I tried to book a new flight, Iberia rejected the ticket voucher code. After several calls with their customer service department, I received an email saying the voucher was suspended “due to security issues.”

Christopher Elliott, the Travel Troubleshooter ...
Christopher Elliott, the Travel Troubleshooter

Iberia instructed me to file a complaint on the website, which I did. I received an email saying I’d hear back in seven days, which did not happen. I’ve made over 11 calls to Iberia since then. Representatives have repeatedly promised me a replacement voucher, but they have never sent me one. Meanwhile, I paid $3,952 for a new ticket.

I want Iberia to pay me the full value of the voucher or reimburse me for the new flight and issue a voucher for the balance.

— Thomas Kush, Boston

ANSWER: Iberia wasn’t wrong to suspend your ticket credit, but it should have quickly restored it.

Why do I support the airline’s decision to freeze your ticket credit? Because there are a lot of shenanigans that happen with ticket vouchers, gift cards and loyalty programs, and airlines are correct to be cautious. But when they penalize the wrong guy — as they did with you — they need to do a quick about-face and apologize. And this didn’t happen. read more

GM adds over 132,000 heavy duty pickups to recall for tailgates that can open unexpectedly

GM adds over 132,000 heavy duty pickups to recall for tailgates that can open unexpectedly

DETROIT (AP) — General Motors is adding over 132,000 heavy-duty pickups in the U.S. to a previous recall for tailgate release switches that can short circuit and open the gates while the trucks are in park.

The recall adds certain 2024 Chevrolet Silverado and GMC Sierra 2500 and 3500 trucks to a February recall of 323,000 heavy duty pickups. Only trucks with a manual gate and power lock and release are affected.

The company says in documents posted Tuesday by the National Highway Traffic Safety Administration that water can get into the electronic gate release switches, causing the gates to unlatch. If that happens, cargo can fall into the road and become a hazard.

The trucks in the new recall were added after the company found 237 field reports of tailgates opening unexpectedly. Until repairs are made, GM says owners should check to make sure the gate is closed and latched before driving.

Dealers will replace the exterior touch pad switch assemblies with new ones that are more resistant to water. read more

China bans exports to US of gallium, germanium, antimony in response to chip sanctions

China bans exports to US of gallium, germanium, antimony in response to chip sanctions

By ELAINE KURTENBACH, Associated Press Business Writer

BANGKOK (AP) — China announced Tuesday it is banning exports to the United States of gallium, germanium, antimony and other key high-tech materials with potential military applications, as a general principle, lashing back at U.S. limits on semiconductor-related exports.

The Chinese Commerce Ministry announced the move after the Washington expanded its list of Chinese companies subject to export controls on computer chip-making equipment, software and high-bandwidth memory chips. Such chips are needed for advanced applications.

The ratcheting up of trade restrictions comes as President-elect Donald Trump has been threatening to sharply raise tariffs on imports from China and other countries, potentially intensifying simmering tensions over trade and technology.

China’s Foreign Ministry also issued a vehement reproof.

“China has lodged stern protests with the U.S. for its update of the semiconductor export control measures, sanctions against Chinese companies, and malicious suppression of China’s technological progress,” Lin Jian, a Chinese Foreign Ministry spokesperson, said in a routine briefing Tuesday. read more

A top Fed official leans toward December rate cut but says it depends on economic data

A top Fed official leans toward December rate cut but says it depends on economic data

By CHRISTOPHER RUGABER, Associated Press

WASHINGTON (AP) — A top Federal Reserve official said Monday that he is leaning toward supporting an interest rate cut when the Fed meets in two weeks but that evidence of persistent inflation before then could cause him to change that view.

Speaking at George Washington University, Christopher Waller, a key member of the Fed’s Board of Governors, said he was confident that inflation is headed lower and that the central bank will likely keep reducing its key rate, which affects many consumer and business loans.

But he noted that there’s a risk that inflation “may be getting stuck above” the Fed’s 2% target, which would support an argument for keeping the Fed’s rate unchanged this month.

How to start investing in cryptocurrency: A guide for beginners

How to start investing in cryptocurrency: A guide for beginners

By James Royal, Ph.D., Bankrate.com

Cryptocurrencies are enormously volatile, but that volatility can create opportunities for profit if you’re looking to trade these digital assets. Cryptos such as Bitcoin and Ethereum have risen a lot since their debut — but they’ve also experienced tremendous boom-bust cycles along the way. Experienced traders have been speculating on cryptocurrencies for years, but how can you get started if you’re new to the crypto market?

Here’s how to start investing in cryptocurrency and the significant risks you need to watch out for.

5 steps for investing in cryptocurrency

First things first, if you’re looking to invest in crypto, you need to have all your finances in order. That means having an emergency fund in place, a manageable level of debt and ideally a diversified portfolio of investments. Your crypto investments can become one more part of your portfolio, one that helps raise your total returns, hopefully.

Pay attention to these five other things as you’re starting to invest in cryptocurrencies. read more