Alaska Air Group Inc. shares sank after it said it would acquire Hawaiian Holdings Inc. for $1.9 billion in cash and debt, in the latest attempt to consolidate the US aviation industry despite regulatory headwinds.
Lloyds Banking Group Plc has received £1.2 billion ($1.5 billion) from the owners of the Telegraph newspaper, marking an end of the bank’s involvement in a saga that’s spawned government investigations and sparked a nationwide discussion on freedom of the press.
Continental AG is evaluating asset sales and will cut additional costs to protect returns and turn around its key automotive unit that’s fallen behind peers.
Financial markets have become far too optimistic about how much the Federal Reserve will cut interest rates next year, giving options traders a chance to profit from betting against that view, according to Goldman Sachs.
Gold retreated from its record high amid signs that traders’ aggressive pricing of Federal Reserve rate cuts may have gone too far.
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