Vote on Spirit, Frontier merger is postponed, again
At issue is a competing bid for Spirit from another budget airline, JetBlue, which is offering about $1 billion more for Spirit.
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U.S. inflation reached 40-year high of 9.1% in June
Rising costs have seeped into nearly every corner of the economy, with grocery prices jumping 12.2% compared with a year ago. Rents have risen 5.8% and new car prices have increased 11.4%.
IndyCar champ Alex Palou says he’s leaving Ganassi for McLaren
Shortly after Chip Ganassi Racing announced Tuesday it would exercise a team option to keep the star Spaniard next season, Palou and Arrow McLaren SP said they had agreed to a deal for 2023.
Twitter sues to force Musk to complete his $44B acquisition
In a fiery filing, Twitter accuses Musk of violating the merger agreement “because the deal he signed no longer serves his personal interests.”
Amazon Prime Day comes amid slowdown in online sales growth
The company has long used the two-day event to lure people to its Prime membership. This year, it could help Amazon boost profitability amid a slowdown in overall online sales.
Far out: NASA unveils first image from new $10B telescope
The first image from the $10 billion James Webb Space Telescope is the farthest humanity has ever seen in both time and distance, closer to the dawn of time and the edge of the universe.
Investigation: State lotteries transfer wealth out of needy communities
A nationwide investigation of state lotteries by the Howard Center for Investigative Journalism at the University of Maryland found that lottery retailers are disproportionately clustered in lower-income communities in nearly every state.
Biden administration: Docs must offer abortion if mom’s life at risk
The Biden administration on Monday said federal law on emergency treatment guidelines preempts state laws in jurisdictions that now ban the procedure without any exceptions.
Looming Musk-Twitter legal battle hammers company shares
Shares of Twitter slid more than 9% in the first day of trading after billionaire Elon Musk said that he was abandoning his $44 billion bid for the company and the social media platform vowed to challenge Musk in court to uphold the agreement.
Fed’s Bullard: Solid U.S. economy can handle rising rates
St. Louis Federal Reserve President James Bullard said he currently supports a 0.75 percentage point increase in the Fed’s benchmark short-term interest rate at its next meeting later this month.
Drugmaker seeks FDA approval for over-the-counter birth control
For the first time, a pharmaceutical company has asked for permission to sell a birth control pill over the counter in the United States.
Crypto plunge is cautionary tale for public pension funds
The recent crypto meltdown has prompted a larger question: For pension funds that ensure teachers, firefighters, police and other public workers receive benefits in retirement after public service, is any amount of crypto investment too risky?
Report: Uber lobbied, used ‘stealth’ tech to block scrutiny
As Uber aggressively pushed into markets around the world, the ride-sharing service used a “kill switch” to thwart regulators and law enforcement, and channeled money through Bermuda and other tax havens, according to a report released Sunday.
Report: WWE boss McMahon’s hush cash bill over $12 million
A report says World Wrestling Entertainment impresario Vince McMahon agreed to pay more than $12 million over the past 16 years to suppress allegations of sexual misconduct and infidelity.
Musk abandons $44B deal to buy Twitter; company says it will sue
Twitter could push for a $1 billion breakup fee that Musk agreed to pay under these circumstances. Instead, it looks ready to fight to complete the purchase, which the company’s board has approved and CEO Parag Agrawal has insisted he wants to consummate.
U.S. employers added surprisingly solid 372,000 jobs in June
The surprisingly strong gain will likely spur the Federal Reserve to keep raising interest rates to cool the economy and slow price increases.
Judge lifts order against Indiana abortion procedure ban
U.S. District Judge Sarah Evans Barker’s order signed Thursday lifts the injunction she issued in 2019 blocking the law against the procedure that the Republican-backed legislation called “dismemberment abortion.”
Indiana’s abortion laws likely to tighten before Legislature acts
Lawyers for the American Civil Liberties Union of Indiana conceded defeat Friday in their fight to block two anti-abortion laws that have been held up by injunctions.
Twitter says it removes 1 million spam accounts a day
Twitter provided the figure in a call with executives Thursday during a briefing that aimed to shed more light on the company’s fake and bot accounts as it tussles with potential buyer Elon Musk over “spam bots.”
Sysco accuses four largest beef processors of price fixing
The nation’s largest food distributor has joined the other businesses accusing the four largest meat processors of working together to inflate beef prices.