(Reuters) -Budget carriers Frontier Group Holdings and Spirit Airlines Inc on Monday unveiled plans to merge in a $2.9 billion deal that would create the fifth-largest U.S. airline and tighten competition against traditional carriers. The tie-up combines stablemates of legendary airline investor Bill Franke, a pioneer of rock-bottom fares coupled with top-up charges offered by…
By Bansari Mayur Kamdar (Reuters) -U.S. stock index futures edged higher on Monday after a week of volatile trading spurred on by mixed quarterly results from big technology companies, while Peloton jumped on media reports of interest from potential buyers including Amazon. The tech-heavy Nasdaq had a volatile start to February after Facebook owner Meta…
By Hannah Lang (Reuters) -A group of major cryptocurrency firms including Coinbase, Circle, Anchorage Digital and Huobi Global are forming a new coalition aimed at cracking down on market manipulation in an effort to instill trust in the burgeoning digital asset industry. The Crypto Market Integrity Coalition, which was convened by risk-monitoring software company Solidus…
GENEVA (AP) — A Swiss criminal court was opening a trial Monday on charges that Credit Suisse failed to do enough to stop money laundering linked to drug trafficking by a Bulgarian criminal organization, which employed a wrestler who once hauled millions in currency by car to Switzerland. The case against the bank in federal…
(Reuters) – Peloton Interactive Inc’s shares jumped 22% premarket on Monday after reports of takeover interest from Amazon.com Inc and Nike Inc in the exercise bike maker that recently lost a majority of its share gains made during the pandemic. Amazon is exploring an offer for Peloton, a source told Reuters on Friday. The Financial…
By Brenna Hughes Neghaiwi and Silke Koltrowitz ZURICH (Reuters) – Credit Suisse faced charges in a Swiss court on Monday of allowing an alleged Bulgarian cocaine trafficking gang to launder millions of euros, some of it stuffed into suitcases. In the first criminal trial of a major bank in Switzerland, Swiss prosecutors are seeking around…
BRUSSELS (AP) — Several world leaders lined up Monday to walk a diplomatic tightrope that could mean the difference between war in Ukraine and an uneasy peace there as Russia’s menacing actions on the border of its neighbor continued unabated. Here’s a look at what is happening where and why: FROM MOSCOW TO WASHINGTON Russian…
Frontier Airlines and Spirit Airlines are proposing to combine in a $2.9 billion deal that would create a larger discount airline to compete against the nation’s dominant carriers and, they say, promote lower fares. Both are ultra-low-cost carriers that tempt travelers with rock-bottom prices for no-frills service but often generate more than their share of…
(Reuters) – U.S. low-cost carriers Spirit Airlines and Frontier Group Holdings announced a merger agreement on Monday in a deal that values Spirit at a fully diluted equity value of $2.9 billion. The transaction value of the deal is $6.6 billion when accounting for the assumption of net debt and operating lease liabilities, the companies…
Joe Rogan has put Spotify in a tough spot, but the streaming giant is not ready to part ways with the popular podcast host despite intense criticism over his anti-coronavirus vaccine comments and use of racial slurs. Spotify CEO Daniel Ek also said in a message to employees Sunday that Rogan’s racist language was “incredibly…
