July 29, 2022
United States:
JetBlue’s $3.8 Billion Spirit Deal Faces Tricky Antitrust Review
JetBlue Airways Corp. already overcame one adversary in its battle to acquire Spirit Airlines Inc. Now it faces an even bigger fight.
The $3.8 billion merger must undergo a rigorous antitrust review that analysts say could lead to significant divestitures or changes to the deal’s structure — if it gets approved at all. Concern over regulatory pushback was the main reason Spirit’s board resisted JetBlue’s overtures for several months in favor of a lower offer from Frontier Group Holdings Inc.
Europe:
Europe’s Stellar Growth Is Already Unraveling as Inflation Jumps
Europe’s bumper economic growth is already buckling under the weight of record-breaking inflation and the increasing likelihood of a Russian energy cutoff.
Second-quarter output in the 19-member euro zone surged by more than three times the amount analysts expected, with Italy, Spain and France topping estimates by some distance.
Asia:
Jeep’s China Partner Blasts Stellantis CEO as Venture Crumbles
Stellantis NV’s state-owned Chinese partner accused the European company of disrespecting customers in the world’s biggest auto market in an escalation of a dispute over their failed Jeep venture.
Guangzhou Automobile Group on Friday said comments Stellantis Chief Executive Officer Carlos Tavares made the previous day on how trust had broken down between the two companies over their Chinese manufacturing partnership were “unbelievable.”
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