The airline industry and one of its prominent allies are gearing up to fight a possible push in the U.S. Congress to tax baggage fees and other air-travel charges as a way to generate additional federal revenue.
UAL Corp.’s United Airlines and Continental Airlines Inc. are studying a stock-for-stock merger with no premium, two people with knowledge of the talks said, in a deal that would create the world’s largest carrier.
The U.S. government rested its case yesterday in a prosecution that may provide a preview of next year’s trial of Galleon Group LLC co-founder Raj Rajaratnam, accused of helping direct the largest-ever hedge fund insider trading scam, Bloomberg News’ David Glovin reports.
Federal prosecutors in New York have been examining transactions by Goldman Sachs Group Inc., accused of fraud by U.S. securities regulators, to determine whether to pursue a criminal case, according to two people familiar with the matter.
The House passed and sent President Barack Obama a bill barring U.S. airlines from paying penalties in a European Union plan to cut carbon emissions, a day after an EU commissioner proposed halting implementation of the program.
The European Union plans to freeze implementation of greenhouse gas curbs on flights into and out of the EU until September next year, while countries worldwide negotiate a global pact to cut pollution.
Geo Group Inc., an operator of mental-health facilities and prisons, and Solutia Inc. are marketing notes this week as high-yield, high-risk companies take advantage of open credit markets to refinance debt.
United Airlines ’ merger with Continental Airlines Inc. should be rejected by the U.S. Justice Department because it would reduce competition, House Transportation Committee Chairman James Oberstar said.