Bloomberg First came Snap Inc.’s disappointing results. Then news that US officials were discussing whether they should subject some of Elon Musk’s ventures to national security reviews, including the deal for Twitter Inc. Anxious investors are selling out of social media stocks, putting them on track to lose more than $47 billion in market value as they tumble in …

  Bloomberg A flurry of mergers and acquisitions in UK companies may be near as a plunge in the pound has made them more attractive to foreign buyers, according to investors participating in different spheres of the market. Private equity giant Blackstone Inc, $5 billion hedge fund Toscafund Asset Management LLP and strategists at Jefferies are united in calling a …

  Bloomberg Spirit Airlines Inc shareholders approved the carrier’s $3.8 billion cash sale to JetBlue Airways Corp, a milestone for a deal that’s poised to eliminate the largest US carrier offering deeply discounted fares. More than half of outstanding shares were voted in favour of the combination, according to preliminary results disclosed by the companies. JetBlue and Spirit still expect …

Bloomberg Walmart Inc is starting a platform for social media influencers — a bid to get help from online content creators to sell everything from food to apparel. The program, called Walmart Creator and accessible via an internet browser, is designed to make it easier for influencers to recommend company products, the retailer announced in a statement. Influencers will have …

  Bloomberg Ryanair Holdings Plc Chief Executive Officer Michael O’Leary said the discount carrier’s ability to gain market share from rivals in a looming economic slowdown is at risk from delays to Boeing Co. jetliner deliveries. O’Leary said he’s concerned the US planemaker may ship only 12 or 13 of the 21 Max aircraft that Ryanair is due to get …

  Bloomberg The aviation sector’s burning of fossil fuels isn’t the only way it contributes to climate change: Contrails, the white clouds that trail behind airplanes, are known by researchers to trap heat from the Earth’s surface in the atmosphere. They are formed when water vapour from engine exhaust mixes with cold air, and their environmental impact is significant. Delta …

  Bloomberg Uber Technologies will offer consumers delivery within minutes on orders from frozen-grocery chain Iceland Foods, in its first “quick commerce” partnership in the UK. Customers on the Uber Eats mobile app will be able to order more than 1,000 items from Iceland via the new initiative, known as Uber Eats Market, the company said. The move marks Uber’s …

  Bloomberg Albertsons Cos. reported a quarterly profit that topped Wall Street’s estimates, underscoring the steady demand that makes the grocer an attractive takeover target for Kroger Co. Earnings excluding some items rise to 72 cents a share in the fiscal second quarter, Albertsons said in a statement. That surpassed the 64-cent average of analyst estimates compiled by Bloomberg. Sales …

  Bloomberg The world’s biggest banks have already had to use about $30 billion of their own cash this year to fund loans for acquisitions and buyouts that they weren’t able to offload to investors. The lenders have been forced to fund at least 15 deals in the US and Europe as inflation and risk of a recession evaporates investor …

  Bloomberg Visa Inc’s promise to disclose additional information about what it pays employees has led a prominent activist investor to ditch a planned proxy fight. Arjuna Capital withdrew a shareholder proposal that asked Visa to disclose quantitative data about what it pays employees and how jobs and compensation are distributed by race and gender. Arjuna said it was told …