Business News

AM Business Notebook

>>DOJ Sues To Block JetBlue-Spirit Merger

(Washington, DC) -- The federal government is filing an antitrust lawsuit to block JetBlue's three-point-eight-billion-dollar merger with Spirit Airlines. Attorney General Merrick Garland says the proposed merger would limit choices and drive up airline ticket prices nationwide. He added its impact would be particularly harmful for travelers who rely on what are known as ultra low-cost carriers. The merger would create the nation's fifth largest airline and eliminate Florida-based Spirit altogether. Garland cited internal Spirit documents that estimate when it starts flying a route, average fares fall by 17-percent, noting JetBlue documents that say when Spirit stops flying a route, average fares go up by 30-percent.

 

>>Musk Apologizes For Mocking Disabled Twitter Employee

(San Francisco, CA) -- Elon Musk is apologizing for mocking a now-former Twitter employee with a disability. A Twitter senior director in Iceland, Haraldur Thorleifsson, tweeted at the CEO this week and said access to his computer has been cut off days ago and he didn't know if he was still employed. Musk tweeted back that Thorleifsson "did no actual work" and "claimed as an excuse that he had a disability that prevented him from typing." Thorleifsson has muscular dystrophy and said he can type for only one to two hours at a time. Musk later tweeted, "I would like to apologize to Halli for my misunderstanding of his situation."

 

>>Meta Reportedly Planning Thousands More Layoffs

(Menlo Park, CA) -- Meta is reportedly planning to lay off thousands more employees. It's expected those layoffs could begin as early as this week. The cuts come in addition to previously announced plans to lay off 13-percent of Meta workers.

 

>>Starbucks CEO Will Testify About Alleged Labor Union Busting

(Washington, DC) -- The CEO of Starbucks is set to be roasted on Capitol Hill later this month. Howard Schultz will answer accusations about the coffee giant trying to stop unions from forming at stores across the country. Senator Bernie Sanders leads the committee Schultz will testify to on March 29th. The Vermont Independent noted the National Labor Relations Board has handled dozens of complaints alleging labor law violations.

 

>>Funko To Toss $30M Worth Of Bobbleheads Into The Trash

(Everett, WA) -- Funko is planning to throw out about 30-million-dollars worth of its iconic bobbleheads. Funko Pop toys and collectibles are famous for their depictions of pop-culture icons. In an earnings report last week, the company said its inventory was up 48-percent from a year before, and that it plans to eliminate excess toys because of limited warehouse capacity. Sales in Funko collectibles fell over six-percent in the last fiscal year, but CEO Brian Mariotti says the brand still has a "resilient global fanbase."

On Air Now

George Noorey
George Noorey
12:00am - 2:00am
Coast to Coast

FlashAlert

KBND ON FACEBOOK

News Disclaimers