Year: 2023
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Alaska Air to buy peer Hawaiian for $1.9 billion
By Rajesh Kumar Singh, Akanksha Khushi and Anirban Sen (Reuters) -Alaska Air Group Inc said on Sunday it would acquire Hawaiian Holdings Inc for $1.9 billion, including debt, placing a bet on a troubled airline with lucrative routes as U.S. antitrust regulators fight consolidation in the sector. Alaska Air said it would pay $18 per…
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Hawaiian Airlines’ parent surges on $1.9 billion buyout deal with Alaska Air
By Ananta Agarwal (Reuters) -Shares of Hawaiian Holdings, the parent of Hawaiian Airlines, nearly tripled on Monday after Alaska Air Group agreed to acquire it for $1.9 billion, including debt. Hawaiian shares were trading at $13.40 in morning trade, below Alaska’s offer price of $18 per share made public on Sunday, with some analysts saying…
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Dollar regains ground after sell off; bitcoin breaches $42,000
By Hannah Lang WASHINGTON (Reuters) -The dollar ticked higher on Monday, regaining some ground after falling for three straight weeks on bets that the U.S. Federal Reserve will soon be cutting interest rates, while bitcoin breached $42,000 for the first time since early 2022. The dollar index, which tracks the currency against six major peers,…
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Bull market in view after S&P 500 hits fresh year-high
By Saqib Iqbal Ahmed NEW YORK (Reuters) – The bull is nearly loose. The S&P 500’s feverish late-year rally has brought the index to its highest closing level of 2023, leaving it just 4.2% away from the all-time peak reached in January 2022. A close above 4,796.56 on the S&P 500 would confirm that the…
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Berkshire declines to pursue its Pilot claims at January trial
By Tom Hals WILMINGTON, Delaware (Reuters) – Warren Buffett’s Berkshire Hathaway declined a judge’s offer for a January trial to resolve its claims that billionaire Jimmy Haslam tried to improperly inflate his stake in a truck stop chain, according to a Monday court filing. Berkshire decided to forgo its request for a speedy trial “given…
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Evergrande liquidation hearing pushed to Jan, focus on new debt revamp plan
By Clare Jim and Xie Yu HONG KONG (Reuters) -China Evergrande Group on Monday said it has been granted an adjournment of a court hearing into a liquidation petition to Jan. 29, giving the embattled property developer time to finalise a revamped offshore debt-restructuring plan. The decision came as the world’s most indebted developer with…
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GM believes many of its EVs will qualify for tax credits in 2024
WASHINGTON (Reuters) – General Motors said Friday that it expects many of its electric vehicles to qualify for U.S. tax credits next year after new stricter rules limiting Chinese battery content take effect. “Due to GM’s historic investments in the U.S and efforts to build more secure and resilient supply chains we believe GM is…
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Once-gloomy US retailers now signaling more holiday cheer after solid start to season
By Deborah Mary Sophia and Aishwarya Venugopal (Reuters) -Retailers like Amazon.com and Foot Locker are signaling optimism for holiday season sales after stronger-than-expected figures during Black Friday and Cyber Monday, as heavy discounts lured budget-strained customers on the peak U.S. shopping days. Early estimates on holiday shopping have been encouraging to some investors after retailers…
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After Musk tirade, X faces prospect of more advertisers fleeing
By Sheila Dang, Chavi Mehta and Jaspreet Singh (Reuters) -Social media company X faces the prospect of more advertisers fleeing and has no clear fix in sight, ad industry experts said, after billionaire owner Elon Musk lashed out at some of the biggest brands for dropping the platform. Walt Disney and Warner Bros. Discovery suspended…
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US construction spending rises in October
WASHINGTON(Reuters) – U.S. construction spending increased more than expected in October amid strong gains in single-family homebuilding, but data for the prior month was revised lower. The Commerce Department said on Friday that construction spending rose 0.6%. Data for September was revised down to show construction spending climbing 0.2% instead of 0.4% as previously reported.…