U.S. eases travel restrictions to Cuba

• As of today, Americans will be able to visit Cuba without first seeking a license from the Treasury Department, so long as the travel meets certain criteria.
• Reacting to the news yesterday, United Airlines (NASDAQ:UAL) announced that it planned to seek approval to begin regular service to Cuba from Newark and Houston. Other airlines expressed similar interest.
• What remains unclear is how such an agreement might comply with the 54-year-old U.S. trade embargo, which can only be lifted by Congress and generally prohibits American companies from doing business in Cuba.
• The closed-end Caribbean Basin Fund CUBA is up 0.9% in after-hours trade.
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