American Airlines and US Airways Group Inc. reached an agreement with the U.S. Justice Department over the government’s bid to block their merger, clearing the way to a tie-up that would create the world’s biggest carrier.
United Continental Holdings Inc., struggling to match other airlines’ profit gains, said it has identified ways to cut costs by almost $1 billion and shifted its biggest planes to different routes to boost revenue.
HJ Heinz Co.’s longtime leader Bill Johnson stood in the Veranda ballroom at the Four Seasons Hotel San Francisco, addressing the ketchup maker’s top 50 executives for the last time. Around the corner in a smaller room, his successor as chief executive officer, Bernardo Hees, waited to tell some of the same managers whether they still had jobs.
Carl Icahn, the activist investor who forced changes at Chesapeake Energy Corp. and Transocean Ltd., faces an uphill battle boosting value at Talisman Energy Inc. as the Canadian company tries to unload $3 billion of assets into a crowded market.
Dynegy Inc., the third-largest independent U.S. power producer, and wireless operator Sprint Nextel Corp. are likely to underperform the high-yield bond market in the coming months, according to Gimme Credit.
For the first time since before the credit crisis, bond buyers are demonstrating more confidence in the U.S. banking system than in industrial companies as lenders fortify balance sheets while firms from Verizon Communications Inc. to Apple Inc. borrow record amounts.
Demand for meat in emerging markets, which spurred the biggest proposed Chinese takeover of a U.S. company, is turning American producers such as Hillshire Brands Co. and Sanderson Farms Inc. into potential acquisition targets.