(Bloomberg) — JetBlue Airways Corp. offered to buy budget carrier Spirit Airlines Inc. for $3.6 billion, potentially spoiling a competing bid by rival Frontier Group Holdings Inc. and reshaping the landscape for ultra-low-cost air travel. Most Read from Bloomberg Spirit said Tuesday it received an unsolicited proposal from JetBlue to buy outstanding shares for $33 apiece in cash. Spirit will work with financial and legal advisers to evaluate the offer, according to a statement. The surprise… Source link

(Bloomberg) — Elon Musk refiled the disclosure of his stake in Twitter Inc. to classify himself as an active investor, making the change after taking a seat on the social media company’s board. Most Read from Bloomberg Musk, a billionaire who is chief executive officer of Tesla Inc., filed a form 13D with the U.S. Securities and Exchange Commission on Tuesday, disclosing a stake of 9.1%. The new filing indicates that Musk plans to take an active role in shaping Twitter’s agenda. The form… Source link

U.S. stock futures traded slightly higher Tuesday evening as investors digested hawkish remarks from key monetary policymakers. These suggested that more members of the Federal Reserve were open to moving aggressively to raise interest rates and bring down demand and persistently elevated levels of inflation. Contracts on the S&P 500 edged up. The blue-chip index ended Tuesday’s session lower by 1.3%. The Nasdaq Composite dropped 2.3% its biggest decline in a month as technology stocks gave… Source link

Welcome to Plex’s watchlist, the best new beta feature. Photo: Florence Ion / Gizmodo When I want to watch something, I have no idea where to start. Do I plop down at the TV and use the remote to look for something? Or do I whip out my phone and paw through my folder of apps and figure it out from there? But what if there was a third way? Plex hopes you’ll choose its system for these important life decisions, especially if you’re already using the app to maintain a home media server. The… Source link

(Reuters) – Electric vehicle maker Rivian Automotive Inc said on Tuesday it is on track to achieve its production target of 25,000 vehicles this year, sending its shares up 2.4% in extended trading. The company said it had made 2,553 vehicles and delivered 1,227 cars in the first quarter. It produced 1,015 vehicles and delivered 920 last year after starting deliveries of its R1T pickup truck towards the end of the third quarter. Rivian said last month that supply-chain issues could cut its… Source link

Last week, the Food and Drug Administration and the Centers for Disease Control and Prevention authorized a fourth dose of the COVID-19 vaccine for people 50 years and older, as well as some immunocompromised people. The decision was made at a time when COVID-19 cases and hospitalizations in the United States have been declining. At the moment, more than 99% of U.S. counties have low or medium COVID-19 community levels, according to CDC data. So why would someone need another booster at a time… Source link

Tick off a loss for the modern monetary theorists amid rising inflation, says InfraCap Founder and CEO Jay Hatfield. Modern Monetary Theory (MMT) is a macroeconomic lens which prescribes that monetarily sovereign countries like the U.S. are unaffected by financial constraints as long as they control their currencies. With roots dating back to the early 20th century, MMT was first popularized in its modern form by Warren Mosler, an American investment fund manager. Under MMT, the risk of… Source link

Market watchers were taken aback when Cathie Wood’s ​​flagship Ark Innovation fund fell 24% in 2021. This year, the widely popular ETF logged an even bigger loss in just the first quarter alone. According to financial analytics firm Morningstar, Ark Innovation (ARKK) was the worst performing U.S. equity fund in its universe of coverage during the first quarter of 2022. The exchange-traded fund registered a loss of 29.9% in the three months ended March 31, dragged down by a sell-off in… Source link

A Facebook logo is displayed on a smartphone in this illustration taken January 6, 2020. REUTERS/Dado Ruvic Register now for FREE unlimited access to Reuters.com Register April 5 (Reuters) – Canada on Tuesday laid out details of a proposed legislation that would compel platforms like Facebook and Google to negotiate commercial deals and pay news publishers for their content, in a move similar to Australia’s ground-breaking law passed last year. “The news sector in Canada is in crisis,” Canadian… Source link

FULTON MARKET — Mimosas, cupcakes, prize raffles and a full-service breakfast bar welcomed back nearly 2,000 employees at Google’s Midwest headquarters in Fulton Market Tuesday. They also arrived at the office with new rules. With its official reopening this week, Google executives said the company has adopted a “flexible workweek” with employees required to work from the office three days a week, with no planned date to implement a full five-day return. “Three days a week we feel… Source link