Bloomberg Frontier Group Holdings Inc.’s planned $2.9 billion purchase of Spirit Airlines Inc., positions Bill Franke, the self-proclaimed father of ultradiscounting, to expand his global network of carriers that offer bargain-basement fares while maintaining a laser focus on low costs. The deal comes as the industry’s recovery from the Covid-19 pandemic leans on domestic markets and leisure travelers —the …

  Bloomberg Thousands of Italian cities shut off power at some of their biggest tourist attractions to protest spiraling energy costs. Municipal authorities from across the political spectrum banded together to highlight their call for 550 million euros ($627 million) in energy-cost relief from the government, as gas and electricity bills have risen by more than 30% this year. Italy …

  Bloomberg Stocks extended declines on Friday along with American index futures as red-hot US inflation stoked bets on faster Federal Reserve interest-rate hikes amid febrile speculation about the monetary-policy outlook. The Stoxx Europe 600 index dropped more than 1%, with technology and real-estate shares leading the decline. Carmakers outperformed after strong results from Mercedes-Benz AG. The benchmark remains on …