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  Bloomberg Frontier Group Holdings Inc agreed to buy Spirit Airlines Inc. for $2.9 billion in cash and stock, uniting two ultra-low-cost carriers targeting the recovering US leisure-travel market. Spirit shares rose the most in 14 months. Spirit investors will receive 1.9126 Frontier shares and $2.13 in cash for each Spirit share, according to a statement Monday. The deal implies ...

  Bloomberg A Danish pension fund said it will exit its $3 million stake in Wizz Air Holdings Plc after talks failed to resolve concerns surrounding the discount carrier’s labor practices. AkademikerPension, which manages around $23 billion, said Monday that it will sell the stock after Wizz rebuffed a plea for it to recognize staff rights concerning freedom of association ...

  Bloomberg It’s an age-old question: “Business or pleasure?” For airline passengers these days, the answer increasingly is both. The growth in so-called “bleisure” trips blending personal getaways with remote work has helped fill seats on planes during the coronavirus pandemic and marks a shift in travel patterns for an industry used to clear divisions between briefcase-toting road warriors and ...

  Bloomberg US retailers are bracing for more returns than usual, adding stress to an industry already grappling with increasing labor costs and supply-chain issues. Shoppers are expected to return more than $761 billion in merchandise sold last year, representing about 16.6% of total US retail sales, according to a survey of retailers. That’s up from 10.6% during 2020. Fraudulent ...

  Bloomberg Boris Johnson promised his Conservative Party an overhaul of his top team as he strives to keep his job after a series of gaffes and scandals. Two rapid appointments over the weekend may already be too late. Reeling from the resignation of five aides in 24 hours last week, the UK prime minister moved quickly to fill key ...

  Bloomberg The US and its allies need to push back harder against China after they “acquiesced and allowed” Beijing to expand its footprint in the South China Sea over the past decade, Australia’s Defense Minister Peter Dutton said. “If we continue on that trajectory, then I think we’ll lose the next decade,” Dutton said in an interview with the ...

  Bloomberg Senator Joe Manchin predicted passage for a bill to address US election procedures including Congress’s role in certifying an election. “I think absolutely it’ll pass,” Manchin, a West Virginia Democrat, said during a joint appearance with Senator Lisa Murkowski, an Alaska Republican, on CNN’s “State of the Union.” “Will it be a step ahead? Will it be important ...

  Bloomberg Canada’s capital city declared a state of emergency as police struggled to rein in protests against vaccine mandates and Covid-19 restrictions. Ottawa Mayor Jim Watson, who declared the emergency, said that increasingly rowdy demonstrations posed a “serious danger and threat to the safety and security of residents.” Hundreds of trucks continue to occupy the downtown area near Canada’s ...

  Bloomberg South African President Cyril Ramaphosa may impose limits on the types of jobs that foreigners can apply for, Business Day reported, without saying where it got the information. The South African cabinet is considering the proposal that was discussed at recent talks between the ruling African National Congress and its alliance partners, the South African Communist Party and ...

  Bloomberg Canada’s labour market suffered a larger-than-expected setback last month after the nation was hit with fresh lockdowns meant to contain the Omicron variant of Covid-19. The country shed 200,100 jobs in January, Statistics Canada reported from Ottawa, ending a seven-month streak of gains. Economists in a Bloomberg survey were expecting a drop of 110,000. The unemployment rate rise ...