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- Bipartisan senators press United and American CEOs on reported merger of leading...
A bipartisan pair of senators sent a letter to the CEOs of United Airlines and American Airlines expressing concerns about the possibility of a proposed merger between the two air carriers and requested more information about the impact of a possible deal.The letter was sent by Sens. Elizabeth Warren, D-Mass., and Mike Lee, R-Utah, who wrote that a merger between United and American would "combine two of the 'Big Four' U.S. airlines into an 'industry behemoth,' controlling nearly half of the U.S. market share of the airline industry and creating the largest airline on the planet by revenue.""Any proposed merger between United Airlines and American Airlines raises serious questions under antitrust law and raises the likelihood of harm for American consumers," Warren and Lee wrote.The letter comes after a report that United CEO Scott Kirby proposed a merger with American and asked for the blessing of President Donald Trump on the proposed deal at a late February meeting, according to Reuters. The outlet reported that a source close to the White House was skeptical about the deal's competitive impact and how it would affect consumers.UNITED AIRLINES MERGER TALK PUTS SPOTLIGHT ON AMERICAN CEO'S FUTURE, EXPERTS SAYIf a potential merger between the two airlines were to move forward, it would likely invite regulatory scrutiny from federal agencies as well as antitrust panels in Congress, such as the Senate subcommittee chaired by Lee.In their letter, Warren and Lee expressed a number of concerns surrounding the potential for the combined company to raise prices on consumers, hurt smaller airlines' ability to compete for gate access, and cut routes – particularly those out of Dallas Fort Worth International Airport and Chicago O'Hare International Airport.UNITED AIRLINES CHECKED BAG FEES CLIMBS $10-50 AS FUEL PRICES NEARLY DOUBLE SINCE IRAN WARThey also raised concerns about job losses at a combined airline and creating monopsony power that results in the company "potentially suppressing wages and benefits industry-wide."Warren and Lee asked the CEOs of United and American to provide answers as to whether the companies have discussed a deal directly or with other outside parties. They also asked the airlines to justify how such a merger would be in the public interest, along with specific queries about air fares and fees, job losses and the elimination of routes under a merger.AMERICAN AIRLINES JOINS WAVE OF CARRIERS HIKING CHECKED BAG FEES AS JET FUEL PRICES SKYROCKETAmerican Airlines said in a… [TheTopNews] Read More.2 hours ago - Red Lobster brings back fan-favorite ‘Endless Shrimp’ deal in long-a...Red Lobster is bringing back its famous "Endless Shrimp" promotion starting Monday, marking a surprising revival of one of its most recognizable all-you-can-eat offerings.The deal will return for a limited time at select locations, the company said. One Red Lobster location told FOX Business that the new offering will be priced at $24.99 per person, up from $20 in 2024, when it most recently appeared on menus. Other locations have reportedly priced the promotion at $29.99, according to USA Today.Five different shrimp varieties – including a new flavor, "Marry Me Shrimp," inspired by internet culture – will be offered with a choice of side: RED LOBSTER CONSIDERING MORE RESTAURANT CLOSURES, CEO SAYSThe deal was discontinued in 2024 after it was widely cited as a factor in the company’s disastrous financial loss ahead of its bankruptcy filing, which led to the closure of 130 restaurants.While the company previously signaled it would not bring the promotion back, strong customer demand and a recent surge in engagement have led Red Lobster to reconsider its long-running, two-decade "legacy," the Orlando-based chain announced Monday.RED LOBSTER LOOKS TO REVIVE 'ENDLESS SHRIMP' AFTER PROMOTION HELPED SINK FINANCES: REPORT"After thousands of social media mentions since it last appeared on menus, Red Lobster, the iconic seafood restaurant brand, is announcing the return of one of its most popular experiences, for a limited time: Endless Shrimp," it said.The previous Endless Shrimp offering – a $20 menu item that became a permanent fixture in 2023 after being intermittently offered over 20 years – was widely seen as a marketing success that ultimately turned into a financial strain when demand overwhelmed supply costs.It accounted for $11 million of the company’s $76 million net loss in 2023, Reuters reported.RED LOBSTER CLEARED TO EXIT CHAPTER 11 BANKRUPTCY PROTECTIONWhen Red Lobster CEO Damola Adamolekun took over in late 2024 to guide the chain out of bankruptcy, he initially ruled out bringing the promotion back, "because I know how to do math," according to Today.However, the company now appears to be revisiting that stance, with Adamolekun signaling a renewed focus on the in-demand offering in a statement Monday.GET FOX BUSINESS ON THE GO BY CLICKING HERE"This is about putting our guests first and bringing back something they truly love," he said. "Endless Shrimp has been a part of Red Lobster's legacy for 20 years and our guests have never stopped asking for it. We're excited to bring it… [TheTopNews] Read More.2 hours ago
- Leadership change at Apple sparks industry and Wall Street reactions as Cook tra...Tim Cook is stepping down as Apple CEO and transitioning to executive chairman, with John Ternus set to take over on September 1, 2026, as reactions begin pouring in from across the tech industry and Wall Street.Apple said the leadership change follows a long-planned succession process, with Ternus, a 25-year company veteran and current head of Hardware Engineering, stepping into the CEO role as the company navigates its next phase of innovation.John Ternus joined Apple in 2001 and currently serves as senior vice president of Hardware Engineering, where he has overseen work on many of the company’s flagship products across iPhone, Mac, iPad and Apple Watch. He became a vice president in 2013 and joined Apple’s executive team in 2021.During his tenure, Ternus has played a key role in developing new product lines like iPad and AirPods, while also helping drive advancements in Apple’s Mac lineup and its transition to in-house silicon.APPLE CLOSING 3 STORES, INCLUDING ITS FIRST-EVER UNIONIZED LOCATION, SPARKING UNION-BUSTING CLAIMSHe has also led efforts focused on durability, materials innovation, and sustainability, including the use of recycled aluminum and new manufacturing techniques.APPLE UNVEILS LOWER COST IPHONE 17E, RAISES PRICES ON MACBOOKSSam Altman reacted to the news by praising Cook’s legacy and impact on the tech industry."Tim Cook is a legend," Altman said. "I am very thankful for everything he has done and I am very thankful for Apple."NEW EMOJIS COMING TO APPLE IPHONES IN LATEST UPDATEWedbush analyst Dan Ives said the transition comes at a critical moment for Apple, particularly as it pushes deeper into artificial intelligence.GET FOX BUSINESS ON THE GO BY CLICKING HERE"These will be big shoes to fill and the timing of Cook exiting stage left as CEO could make sense but also creates questions," Ives said. "Apple is making a major transition on its AI strategy and longtime CEO and legendary Cook leaving now is a surprise. We agree with Ternus as the pick."This is a developing story. [TheTopNews] Read More.2 hours ago
- The ‘dumb machine’ promising a clean energy breakthrough
A stellarator is difficult to build, but could it be the best way to make fusion energy work? [TheTopNews] Read More.2 hours ago - The 20-somethings juggling three jobs to make ends meetWhile UK unemployment is at a five-year-high, increasing numbers of those in work have more than one job. [TheTopNews] Read More.2 hours ago
- Petrol thefts surge as Iran war pushes up fuel costsOne petrol retailer says he is experiencing about five drive-offs a week at each forecourt, costing him thousands. [TheTopNews] Read More.2 hours ago
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