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Delta Airlines Airbus A330-200 airplane with registration N851NW is seen landing at London's Heathrow Airport.

Nicolas Economou | SOPA Images | LightRocket | Getty Images

Delta Airlines Airbus A330-200 airplane with registration N851NW is seen landing at London’s Heathrow Airport.

Frequent flyers who like to pick their seats may need to shell out more miles for their next award ticket.

Delta Air Lines has been quietly offering its most restrictive tickets to loyal travelers on some routes. Since last month, Delta has been offering SkyMiles members no-frills basic economy award tickets, along side those for standard coach class and first or business class. Passengers booked in basic economy are barred from making changes to their tickets and from selecting a seat ahead of time, and also board last.

Delta was the first among the three biggest U.S. airlines to offer basic economy fares in 2012. American Airlines and United Airlines rolled out their own versions of the bare-bones fares last year. Executives have not been shy that they measure the success of this fare class by how many passengers book the higher fare to avoid the basic economy restrictions.

The frequent-flyer miles required for a free ticket varies by route and demand, but a search for Dec. 14-21 trip from Detroit to Charleston, South Carolina, was 47,000 Skymiles in basic economy and 50,500 for a regular coach ticket.

“It seems like a really risky move,” said Gary Leff, a travel and loyalty program specialist who noted the new offering in his View from the Wing blog. A ticket purchased with miles is “supposed to be an experience, not a pain.”

If the SkyMiles member chooses the basic economy award ticket on Delta’s website, a window pops up reminding the loyalty program member of the basic economy restrictions, much like it does if the traveler simply bought the ticket.

Delta is currently presenting the basic economy option on nonstop and connecting flights from Minneapolis to Phoenix and flights to and from Charleston from within the U.S. and Canada.

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Shares in Asia set to slip despite Wall Street surge overnight

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Stocks in Asia were set to slip at the open despite an overnight surge on Wall Street, with the Dow Jones Industrial Average posting a gain of more than 200 points.

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EU will offer Brexit delay, but length depends on UK parliament

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The European Union will grant Britain an extension to its Brexit negotiating period, but the length of the delay will depend on whether Prime Minister Theresa May is able to win a vote in parliament on an exit agreement next week, draft summit conclusions said.

The updated conclusions for an EU leaders’ summit, which have yet to be finalised, said the bloc would grant an extension to May 22 if May is able to get the existing Brexit divorce deal approved by the British parliament.

If she is unable to do so, Britain would only be give a Brexit delay until April 12. At this point the country would face a disorderly Brexit, or could ask for another extension if it agreed to hold European Parliament elections on its soil on May 23-26.

“The European Council agrees to an extension until 22 May 2019, provided the Withdrawal Agreement is approved by the House of Commons next week,” said the updated draft of the EU leaders’ agreement on Brexit, which was seen by Reuters.

“If the Withdrawal Agreement is not approved by the House of Commons next week, the European Council agrees to an extension until 12 April 2019 and expects the United Kingdom to indicate a way forward at the latest by this date.”

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Apple rallies as investors anticipate streaming service announcement

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Apple’s stock is on a tear this week as it releases a string of products in the lead-up to its highly anticipated event on Monday.

The stock had its biggest rally Thursday since January, closing up 3.7 percent at $195.09 per share for its ninth positive day in the past 10 trading days.

Apple fell just short of taking back the title of the world’s largest public company from Microsoft. Still, Apple is once again approaching $1 trillion in market value, adding about $33 billion to its market capitalization Thursday, bringing it to $919.9 billion.

While Apple has put the spotlight on its hardware this week, announcing new iPads, iMacs and AirPods three days in a row (with a fourth product possibly coming Friday), the focus of Monday’s event is expected to be on a new streaming video service. Teasing the event with the slogan, “It’s show time,” Apple is expected to introduce a new streaming TV service that will give iPhone and iPad users access to free original content and subscription channels such as Starz and CBS All Access, CNBC previously reported.

Investors are already seeing a big upside to Apple’s expected venture into streaming. Needham upgraded the stock on Thursday and raised its price target from $180 to $225.

In a note to investors, Needham analysts wrote that if users adopt Apple’s streaming service, it “should lower churn and drive higher lifetime value.” It could even attract new customers to its products and services, they wrote.

Citigroup also raised its price target on the stock from $170 to $220 on Thursday, even though analysts said in a note they don’t anticipate the launch of Apple’s streaming service “to be a big catalyst for the stock.” They noted, rather, that the streaming is meant to drive recurring revenue for the company, in continuation of its services strategy.

Wedbush raised its price target from $200 to $215 Thursday, saying, “Monday’s announcement is just the tip of the iceberg for [Apple CEO Tim] Cook’s broader streaming content strategy to take hold and in our opinion adds a significant potential catalyst to the Apple services growth story for years to come.” The analysts hedged slightly, noting that Apple “is definitely playing from behind the eight ball in this content arms race with Netflix, Disney, Hulu, and AT&T/Time Warner all going after this next consumer frontier.”

Disclosure: Comcast, which owns CNBC parent NBCUniversal, is a co-owner of Hulu.

— CNBC’s
Michael Sheetz
contributed to this report.

Subscribe to CNBC on YouTube.

Watch: Apple announces new AirPods with wireless charging and voice control

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