The U.S. Department Of Justice Is Blocking The Merger Between Stop JetBlue Airways Corp And Spirit Airlines
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Large mergers are closely watched not only by investors but also by the Department of Justice. A recent attempt to merge the airlines showed that it could be very unfavorable for travelers, so it was put on hold.
In this article:
- The merger is blocked
- A big loss
- the language of the market
- China's travel
The merger is blocked
The U.S. Department of Justice filed a lawsuit on Tuesday to stop JetBlue Airways Corp from buying Spirit Airlines Inc. The merger of JetBlue and Spirit would result in higher fares and less choice for tens of millions of travelers.
WATCH: The U.S. Department of Justice sued to block the merger of JetBlue and Spirit Airlines. JetBlue CEO Robin Hayes said the DOJ 'misses the point that this merger will create a national low-fare, high-quality competitor to the Big Four carriers' https://t.co/viq9B8cnoa pic.twitter.com/5kZXCRGhol
— Reuters Business (@ReutersBiz) March 8, 2023
A big loss
Adidas on Wednesday posted a big loss in the fourth quarter and slashed its dividend after costly ending its partnership with Kanye West's Yeezy brand in October.
The German sportswear giant posted an operating loss of €724 million in the fourth quarter and a net loss from continuing operations of €482 million.
Adidas predicts a full-year operating loss of €700 million in 2023, marking its first annual loss in 31 years.
Adidas' new CEO Bjørn Gulden, who took over from Kasper Rørsted at the turn of the year, said in a statement Wednesday that 2023 will be a "transition year" as the company looks to reduce inventory and cut discounts to return to profitability in 2024.
Adidas warns of first annual loss in three decades and cuts dividend after Ye split https://t.co/zQrCJ9t46q
— CNBC (@CNBC) March 8, 2023
The language of the market
Colorful sayings and expressions have long been ingrained in the language of the market, and investors watching the financial media every day have a good chance of hearing or reading some Wall Street platitudes.
Many Wall Street trading terms and metaphors can sound charming. Wall Street slang provides useful information and helps to summarize complicated topics related to the financial market in a broadly understood language.
It's a good idea for investors to define these terms, ask questions, and look for deeper information that can help shape long-term strategy and decision making.
If you’re new to finance, all the trading jargon may have your head spinning. Take a deeper dive into the language to better understand what's really going on. https://t.co/j0pzEpR00N pic.twitter.com/7S12ljJ4hz
— Charles Schwab Corp (@CharlesSchwab) March 7, 2023
China's travel
Covid-19 restrictions and the increase in local infections continue to be major concerns for Chinese travelers.
China's travel rebound could further accelerate in the second quarter as Covid concerns that hampered the initial reopening start to ease.
Moreover, the popularity of Southeast Asia, which ranked fifth, could hinder Thailand's goal of hosting 7-8 million Chinese visitors in 2023.
China’s tourism recovery could be primed for take-off through 2Q as the country’s Covid wave fades, with 92% of residents planning to take at least one trip over the next three months. @BBGIntelligence https://t.co/qo9ntfQa7F
— Bloomberg Terminal (@TheTerminal) March 7, 2023
