By Sinéad Carew (Reuters) – Shares in the biggest U.S. banks rallied on Friday after they passed the Federal Reserve’s annual health check, but Bank of America underperformed with test results implying it needs a larger-than-expected capital buffer, which could limit share buybacks and dividends. While the broader equity market also rallied on Friday, Wells…
(Reuters) – San Francisco Federal Reserve Bank President Mary Daly on Friday said another 75 basis point interest rate hike in July is her “starting point,” though if the economy slows more than she expects, a half-point hike could be reasonable. “Right now that looks like what we’ll need,” Daly told reporters after a speech…
By Ann Saphir and Lindsay Dunsmuir (Reuters) -A pair of U.S. central bankers said on Friday they supported further sharp interest rate hikes to stem rapid price rises, even as investors cheered economic data showing inflation expectations to be less worrisome than initially feared. Last week, the Federal Reserve raised its benchmark overnight interest rate…
MIAMI (AP) — Long-battered shares of Carnival Corp. jumped more than 12% Friday as the cruise line owner reported a big increase in revenue, occupancy levels, and bookings for future trips. However, the company posted a $1.83 billion second-quarter loss and said the effects of the pandemic and higher fuel prices will lead to another…
Frontier Airlines on Friday added more cash and a larger breakup fee to its offer to buy Spirit Airlines, and the Spirit board repeated its preference for Frontier over a rival bid by JetBlue Airways. Frontier added $2 per share to its previous offer, boosting it to $4.13 in cash plus 1.9126 shares of Frontier…
By Lewis Krauskopf, Sruthi Shankar and Anisha Sircar (Reuters) – Wall Street’s main indexes soared on Friday in a broad rally as signs of slowing economic growth and a recent pullback in commodity prices tempered expectations for the Federal Reserve’s rate-hike plans. The S&P 500 rose over 3% for its biggest one-day percentage rise since…
DALLAS (AP) — Airlines under scrutiny for widespread flight disruptions are renewing their criticism of the government agency that manages the nation’s airspace, saying that understaffing at the Federal Aviation Administration is “crippling” traffic along the East Coast. Airlines for America, which represents the largest U.S. carriers, said Friday it wants to know FAA’s staffing…
(Reuters) – Spirit Airlines Inc said on Friday that Frontier Group Holdings had raised its cash offer by $2 per share to buy the airline, according to a regulatory filing https://www.sec.gov/Archives/edgar/data/0001498710/000149871022000264/save-20220624.htm. (Reporting by Akash Sriram in Bengaluru; Editing by Vinay Dwivedi)
By Divya Rajagopal TORONTO (Reuters) – Rogers Communications Inc, Shaw Communications Inc and Canada’s competition bureau have agreed to start a mediation process to overcome the agency’s antitrust issues posed by Rogers’ C$20 billion ($15.5 billion) acquisition of Shaw, the competition tribunal said on Friday. The move follows weeks of back and forth between the…
By David Shepardson WASHINGTON (Reuters) -An airline industry trade group said on Friday the Federal Aviation Administration (FAA) must ensure adequate air traffic control (ATC) staffing to avoid further summer travel disruptions. Airlines for America told U.S. Transportation Secretary Pete Buttigieg in a letter that the staffing challenges are disrupting flights even in good weather….
