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….
WASHINGTON (AP) — With the Supreme Court ending the constitutional protections for abortion, four Democratic lawmakers are asking federal regulators to investigate Apple and Google for allegedly deceiving millions of mobile phone users by enabling the collection and sale of their personal data to third parties. The decision Friday by the court’s conservative majority to…
By Katanga Johnson and John McCrank WASHINGTON (Reuters) -Wall Street regulators must do more to address market risks highlighted by the “meme-stock” trading frenzy of January 2021 that pitted individual GameStop Corp investors against powerful hedge funds, a congressional report said Friday. Meme stock trading — where companies see their value fueled more by social…
BEIRUT (AP) — Lebanon and Sri Lanka may be a world apart, but they share a history of political turmoil and violence that led to the collapse of once-prosperous economies bedeviled by corruption, patronage, nepotism and incompetence. The toxic combinations led to disaster for both: Currency collapse, shortages, triple-digit inflation and growing hunger. Snaking queues…
NEW YORK (Reuters) – Deutsche Bank AG is updating its U.S. healthcare policy to cover travel costs for any medical procedure, including abortion, that is not offered within 100 miles of an employees’ home, according to a source familiar. (Reporting by Elizabeth Dilts Marshall; Editing by Mark Porter)
