DLA Piper, the world’s second- largest law firm by revenue, and Jones Day, the top legal adviser on mergers by deal count, said they bid for licenses in Singapore as the Asian city further opens its legal market.
Delta Air Lines Inc. led shares of U.S. carriers higher after posting fourth-quarter profit that topped analysts’ estimates and forecasting an operating margin of as much as 8 percent in this year’s initial three months.
American Airlines Group Inc., formed today when AMR Corp. and US Airways Group Inc. combined, is poised to rise on confidence that the world’s largest carrier can avoid the pitfalls that dragged down other mergers.
United Continental Holdings Inc. fell after reporting that a benchmark revenue gauge will decline this quarter because winter storms forced the cancellation of more than 22,500 flights at the world’s second-largest airline.
AMR Corp. Chief Executive Officer Gerard Arpey kept a secret in April as analysts questioned why his turnaround strategies haven’t produced an annual profit at the parent of American Airlines since 2007.
U.S. government spending on air travel probably fell as much as 30 percent in the past month amid congressionally mandated budget cuts that threaten to keep weighing on the industry, a JPMorgan Chase & Co. analyst said.
United Continental Holdings Inc. and Delta Air Lines Inc. plunged, sending an industry index down the most in four months, on concern that a U.S. lawsuit to bar the AMR Corp.-US Airways Group Inc. merger imperiled profits.