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☆ American Airlines plans to appeal ruling that blocks JetBlue partnership, CEO says
▼ + stars: | 2023-05-31 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

An American Airlines plane takes off near a parked JetBlue plane at the Fort Lauderdale-Hollywood International Airport on July 16, 2020 in Fort Lauderdale, Florida. American Airlines plans to appeal a court's recent ruling that would block its partnership with JetBlue Airways in the Northeast, American CEO Robert Isom said Wednesday. A spokesman for JetBlue declined to comment and didn't say whether the airline also planned to appeal the ruling along with American. U.S. District Judge Leo Sorokin ruled earlier this month that the airlines' partnership in the region is anticompetitive and ordered the airlines to end the partnership in 30 days. American Airlines CFO Devon May said at the same conference on Wednesday that the company didn't expect a material impact this year due to the ruling.

Persons: Robert Isom, Leo Sorokin, We've, Isom, Joe Biden's, Biden, Sorokin, Trump, Devon May Organizations: American Airlines, JetBlue, Fort, Hollywood International Airport, Fort Lauderdale , Florida . American Airlines, JetBlue Airways, American, U.S, District, DOJ, Joe Biden's Justice Department, District of Columbia, Delta, Delta Air Lines, United Airlines, Devon, Justice Department, Spirit Airlines Locations: Fort Lauderdale, Fort Lauderdale , Florida, Northeast, American, Boston, New York

May 31 (Reuters) - American Airlines Group (AAL.O) will appeal a U.S. court decision requiring it to end an alliance with JetBlue Airways Corp (JBLU.O), American CEO Robert Isom said on Wednesday. "We've got a legal system that allows for appeal, and we're going to do that," Isom told the Bernstein Conference. American is the largest U.S. airline by fleet size and low-cost carrier JetBlue is the sixth largest. Even as the Texas-based carrier prepares to appeal the ruling, Isom said it will have to work with the Justice Department and JetBlue to figure out what it does in the interim. American, which reiterated its full-year profit forecast Wednesday, doesn't expect the court ruling to have a material impact on its earnings.

Persons: Robert Isom, Leo Sorokin, We've, Isom, Sorokin, Joe Biden's, doesn't, Rajesh Kumar Singh, David Shepardson, Diane Bartz, Deepa Babington, Lisa Shumaker Organizations: American Airlines Group, JetBlue Airways Corp, . U.S, District, Bernstein Conference, JetBlue, U.S . Justice Department, U.S, Justice Department, Thomson Locations: U.S, American, ., Boston, New York, Texas, Chicago, Washington

☆ Premarket stocks: Debt ceiling woes could kill Wall Street dealmaking
▼ + stars: | 2023-05-22 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Before the Bell spoke with Mitch Berlin, EY Americas Vice Chair, Strategy and Transactions, to discuss the effect the debt ceiling drama is having on dealmaking:This interview has been slightly edited for clarity. Uncertainty around the debt ceiling is threatening to stall any momentum in the M&A market. If the debt ceiling is not raised within the next few weeks, dealmaking will largely be put on hold and [it] could set M&A dealmaking back to the lows of the early pandemic or worse. Janet Yellen stands by June 1 debt ceiling deadlineUS Treasury Secretary Janet Yellen on Sunday reaffirmed June 1 as the “hard deadline” for the United States to raise the debt ceiling or risk defaulting on its obligations. “There will be hard choices to make if the debt ceiling isn’t raised,” reiterated Yellen after Biden’s warning.

[1/2] An American Airlines Airbus A321-200 plane takes off from Los Angeles International airport (LAX) in Los Angeles, California, U.S. March 28, 2018. In his ruling, U.S. District Judge Leo Sorokin said the partnership "substantially diminishes competition in the domestic market for air travel." Garland said the Justice Department will continue to protect competition and enforce U.S. antitrust laws across industries, including the airline industry. The judge gave the airlines 30 days to end the alliance. TD Cowen analyst Helane Becker said she believes the American JetBlue ruling "has negative implications for the JetBlue/Spirit merger."

In his ruling, U.S. District Judge Leo Sorokin said the partnership "substantially diminishes competition in the domestic market for air travel." American is the largest U.S. airline by fleet size and low-cost carrier JetBlue is the sixth-largest. The Justice Department did not immediately respond to a request for comment. The judge gave the airlines 30 days to end the alliance. TD Cowen analyst Helane Becker said she believes the American JetBlue ruling "has negative implications for the JetBlue/Spirit merger."

WASHINGTON, May 19 (Reuters) - A U.S. judge ruled on Friday that American Airlines Group (AAL.O) must end its alliance with JetBlue Airways Corp (JBLU.O), agreeing with the U.S. Justice Department that it means higher prices for consumers. U.S. District Judge Leo Sorokin said the agreement "entangles JetBlue with American in a way that diminishes its status as an independent low-cost player in the market." The judge gave the airlines 30 days to end the alliance. The department sued in 2021 asking Sorokin to stop the "Northeast Alliance" partnership, announced in July 2020 and approved by the U.S. Transportation Department shortly before the end of the Trump administration. It took aim at American Airlines, saying the alliance would cost consumers hundreds of millions of dollars.

☆ A federal judge just told American and JetBlue to undo the Northeast Alliance in 30 days
▼ + stars: | 2023-05-19 | by ( Taylor Rains | ) www.businessinsider.com time to read: +4 min

The US Department of Justice has won its antitrust lawsuit against JetBlue Airways and American Airlines. Judge Leo Sorokin ruled the pair has 30 days to undo their powerful Northeast Alliance. It looks like the controversial partial union of JetBlue Airways and American Airlines may be over. According to Judge Sorokin, JetBlue and American have 30 days to undo their alliance, meaning they cannot work together to coordinate their fares or routes. Both airlines have already sold tickets, and the unraveling could cause a headache for JetBlue, American, and their customers.

☆ Justice Department wins lawsuit to end JetBlue and American Airlines alliance
▼ + stars: | 2023-05-19 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +3 min

New York CNN —American Airlines and JetBlue Airways have to break up their alliance on Northeast US flight routes, a US District Court judge ordered Friday. US District Judge Leo Sorokin ruled in favor of the the Justice Department, giving the Biden administration a victory in its years-long lawsuit against the airlines’ collaboration. The airlines have 30 days to end their partnership, Sorokin ruled – just as the busy summer travel season kicks off. The Justice Department also alleged the two airlines shared revenues earned at these airports, eliminating their incentives to compete with one another. CNN has reached out to American Airlines, JetBlue and the Justice Department for comment.

☆ Justice Department wins lawsuit to undo JetBlue, American Airlines partnership in the Northeast
▼ + stars: | 2023-05-19 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

An American Airlines plane takes off near a parked JetBlue plane at the Fort Lauderdale-Hollywood International Airport on July 16, 2020 in Fort Lauderdale, Florida. A federal judge on Friday ordered American Airlines and JetBlue Airways to end their partnership in the Northeast, a win for the Justice Department after it sued to undo the alliance arguing it was anti-competitive. The lawsuit, filed in September 2021, alleged that the airlines' alliance was effectively a merger that would hurt consumers by driving up fares. Fort Worth, Texas-based American Airlines and New York-based JetBlue Airways argued they needed the so-called Northeast Alliance to better compete with other large carriers Delta Air Lines and United Airlines in congested airports in the region. Undoing the partnership would be difficult, especially during the peak summer travel season, which airlines have already sold tickets for.

☆ JetBlue-American Partnership Struck Down by Federal Judge
▼ + stars: | 2023-05-19 | by ( Niraj Chokshi | Joe Rennison | ) www.nytimes.com time to read: +1 min

A federal judge has blocked a partnership between American Airlines and JetBlue Airways at airports in New York and Boston, writing in a ruling published on Friday that the alliance would hurt competition and raise fares. The decision is a big victory for the Justice Department, which under President Biden has sought to enforce antitrust laws more aggressively. The judge ruled that collaboration between the airlines, known as the Northeast Alliance, must end. The Justice Department had said the partnership reduced competition and would cost travelers hundreds of millions of dollars a year if it remained in place. The airlines had argued that the partnership provides consumers with more flying options.

☆ Let the guessing game begin! Elon Musk's cryptic Twitter CEO tweet drives speculation — and plenty of joke theories
▼ + stars: | 2023-05-12 | by ( Sindhu Sundar | ) www.businessinsider.com time to read: +3 min

Elon Musk offered few clues about Twitter's next CEO, besides that "she" will take over in weeks. The cryptic post drove plenty of people on Musk's platform to suggest possible contenders. One serious guess came from tech journalist Kara Swisher, who laid out her case and observations in a Twitter thread. An NBCUniversal spokesperson told Insider that Yaccarino was preparing for the Upfronts, an event where media companies pitch advertisers. Guesses included famous tech names, some quickly debunkedYou didn't have to look far on Twitter to see some famous tech names like Sheryl Sandberg, Marissa Mayer, or Susan Wojcicki being floated.

☆ NHL roundup: Isles edge Hurricanes, extend series
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +2 min

Paul Stastny and Sebastian Aho scored the Carolina goals, and Antti Raanta recorded 19 saves. The Islanders, who began the third with a 3-1 lead, were in a protective mode in the period, producing only five shots on goal. Hintz has 11 points in the series (four goals, seven assists), surpassing Mike Modano for the most points in a playoff series in team history. Oilers 6, Kings 3Nick Bjugstad posted his first career two-goal playoff game to pace Edmonton to a victory over visiting Los Angeles, putting the Oilers one win away from claiming their Western Conference first-round playoff series. Evander Kane, Leon Draisaitl, Brett Kulak and Zach Hyman also scored for the Oilers, who hold a 3-2 lead in the best-of-seven series.

☆ NHL roundup: Oilers prevail in OT, level series with Kings
▼ + stars: | 2023-04-24 | by ( ) www.reuters.com time to read: +4 min

Kevin Fiala contributed two assists as he made his playoff debut for Los Angeles after missing the past three weeks with a lower-body injury. The Oilers erased a 3-0 deficit by scoring three straight goals in the second period. After winning both games in Sunrise, the Presidents' Trophy winners will try to clinch the series in Boston on Wednesday night. Florida got goals from Tkachuk and Sam Bennett, with the goal by Bennett Florida's first successful power play of the series. Roope Hintz collected three assists for the Stars, giving him eight points (four goals, four assists) in the series.

☆ NHL roundup: Panthers stun Bruins to even series
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +3 min

Mandatory Credit: Winslow Townson-USA TODAY SportsApril 20 - Brandon Montour scored twice as a four-goal third period led the visiting Florida Panthers past the Boston Bruins 6-3 in Wednesday's Game 2 of their Eastern Conference opening-round playoff series. Montour is the first defenseman in Panthers history to record a multi-goal game in the postseason. Brad Marchand, Tyler Bertuzzi and Taylor Hall scored for Boston, which won the Presidents' Trophy with an NHL-record 135 points in the regular season. Stars 7, Wild 3Roope Hintz had three goals and an assist to help Dallas even its Western Conference first-round playoff series against visiting Minnesota in Game 2. He worked to the left circle and ripped a screened wrist shot just inside the far post for his first playoff goal.

☆ NHL roundup: Islanders beat Habs, clinch playoff berth
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: +2 min

[1/5] Apr 12, 2023; Elmont, New York, USA; New York Islanders center Brock Nelson (29) brings the puck up ice against the Montreal Canadiens during the second period at UBS Arena. New York holds a one-point lead over the Florida Panthers, who host the Carolina Hurricanes on Thursday in their regular-season finale. With his team short-handed, Suzuki beat Islanders defenseman Samuel Bolduc to a puck and handcuffed Sorokin to trim New York's lead to 3-2 with 3:22 remaining in the second period. Tyler Seguin had a goal and an assist for the Stars, who won their fifth straight game. Joe Pavelski and Roope Hintz also scored, and Scott Wedgewood earned the victory with 16 saves.

☆ NHL roundup: Connor McDavid hits 150 points in Oilers' win
▼ + stars: | 2023-04-09 | by ( ) www.reuters.com time to read: +12 min

Tomas Hertl scored, and James Reimer made 29 saves for the Sharks, who have lost seven straight against the Oilers. McDavid notched his 150th point when he scored with 1:44 left in the opening period for a 2-1 lead. Jesper Bratt scored the lone goal and MacKenzie Blackwood made 38 stops for the Devils, who had won back-to-back games. Avalanche 4, Kings 3Denis Malgin scored two goals for visiting Colorado in a win against Los Angeles. Alex Nylander, Danton Heinen and Evgeni Malkin each scored a goal and Tristan Jarry made 19 saves for the Penguins.

☆ NHL roundup: Carter Verhaeghe nets career-best 4 goals in Panthers' win
▼ + stars: | 2023-04-02 | by ( ) www.reuters.com time to read: +9 min

Sabers 6, Flyers 3Alex Tuch scored his second career hat trick to help Buffalo to a win against host Philadelphia. Morgan Frost scored twice and Felix Sandstrom made 23 saves for the Flyers, who had their seven-game point streak snapped. Avalanche 5, Stars 2Nathan MacKinnon had two goals, Mikko Rantanen had a goal and three assists, and host Colorado beat Dallas. Ben Hutton, Zach Whitecloud and Brett Howden also notched goals for Vegas, which is 5-1-1 in its past seven games. J.J. Moser and Milos Kelemen scored for the Coyotes (27-37-13, 67 points), who have dropped seven straight games (0-5-2).

☆ A gag order for Donald Trump is 'extremely likely' once he's before a judge, legal expert says
▼ + stars: | 2023-03-31 | by ( Nicole Gaudiano | Brent D. Griffiths | ) www.businessinsider.com time to read: +7 min

But once he's arraigned, it's "extremely likely" he'll be put under a gag order, one expert said. But the judge is likely to issue a gag order on the lawyers from both sides, along with Trump, he said. If there's a gag order, Levin said Trump will be "very limited" in what he's able to say, even if there may be proxies who speak for him. Former Indiana Attorney General Jeff Modisett said he also expected that a judge could narrowly craft a gag order that could survive an appeal. "Theoretically, a litigant who breaks a gag order could be thrown in jail," he said.

☆ NHL roundup: Alex Ovechkin hits 40 goals for record 13th time
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +10 min

Mandatory Credit: Brad Mills-USA TODAY SportsMarch 22 - On a night he was honored for passing one NHL legend, Washington's Alex Ovechkin made history by eclipsing another. Before the game, Ovechkin was honored in a 20-minute on-ice ceremony for passing Gordie Howe for second place on the all-time NHL goals list on Dec. 23. On Tuesday, Ovechkin scored his 40th goal of the season, passing Wayne Gretzky for the most 40-goal seasons in NHL history with his 13th. Barrett Hayton scored the lone goal for Arizona (27-33-11, 65 points), which saw its four-game winning streak come to an end. Alex Chiasson and Filip Zadina scored regulation goals for the Red Wings, who earned just their third victory in their last 13 games.

U.S. District Judge William Young in Boston was randomly assigned the case despite the Justice Department's contention that the lawsuit should be heard by another judge who is overseeing a separate antitrust case involving JetBlue. The Justice Department on Tuesday argued that Sorokin should hear the Spirit case as well because both involved "an assessment of JetBlue's network plans, aircraft orders and configurations, and pricing strategy." Sorokin, an appointee of Democratic former President Barack Obama, on Wednesday in a brief order said the Spirit case was wrongly assigned to him because it was "incorrectly marked as related and thus not randomly assigned." The Justice Department and JetBlue declined to comment. In the case filed on Tuesday, the Justice Department said the merger of JetBlue and Spirit would "combine two especially close and fierce head-to-head competitors."

☆ NHL roundup: Bruins bounce Rangers for 10th straight win
▼ + stars: | 2023-03-05 | by ( ) www.reuters.com time to read: +9 min

At the end of a board battle behind Elliott in the second period, Hinostroza one-timed his second goal off a pass from Casey Mittelstadt at 5:35 for Buffalo's first lead. Captain Dylan Larkin scored in the second period and Magnus Hellberg made 32 saves for the Red Wings, who have lost five straight games (0-4-1). Bennett, who had missed six straight games, scored one goal. Capitals 8, Sharks 3Craig Smith scored twice in Washington's four-goal second period and the visitors rallied for a win against San Jose. Predators 3, Blackhawks 1Philip Tomasino, Tyson Barrie and Colton Sissons scored for visiting Nashville in a win against Chicago.

☆ Putin’s Secret Weapon on Energy: an Ex-Morgan Stanley Banker
▼ + stars: | 2023-03-02 | by ( Benoit Faucon | ) www.wsj.com time to read: 1 min

Russia urgently needs to develop new markets for its oil and gas companies, with Western sanctions cutting into the backbone of its economy. It’s relying on a 37-year-old former Morgan Stanley banker to keep profits flowing. Pavel Sorokin , Russia’s deputy energy minister, is part of a cadre of young technocrats with deep knowledge of the West, fast-tracked by Vladmir Putin to the upper echelons of power. Mr. Sorokin, who studied finance in London, has negotiated deals in Africa and the Middle East. He played an early role in the development of OPEC+, the partnership between Russia’s oil industry and the Saudi-led Organization of the Petroleum Exporting Countries.

☆ NHL roundup: Linus Ullmark's record night lifts Bruins
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +7 min

Dmitry Orlov scored twice in a three-point game while Pavel Zacha also scored for the Bruins. Panthers 4, Lightning 1Eric Staal, Anton Lundell and Eetu Luostarinen scored first-period goals as Florida broke Tampa Bay's club-record 16-game home point streak. Sergei Bobrovsky's 29 saves helped him set a record for most NHL wins by a Russian goaltender (354). Jesse Ylonen, Kaiden Guhle and Christian Dvorak scored third-period goals for the Canadiens, who have won three of four. Travis Boyd, Barrett Hayton and Jack McBain also scored goals and Clayton Keller added a pair of assists for Arizona, which snapped a two-game losing streak.

☆ Infamous fake German heiress Anna Sorokin wins contempt case against ex-lawyer after landing guest speaking gig with Harvard MBA students
▼ + stars: | 2023-02-26 | by ( Jordan Hart | Jacob Shamsian | ) www.businessinsider.com time to read: +4 min

Anna Sorokin, aka Anna Delvey, reportedly spoke with a class of MBA students at Harvard University on Feb. 14. Sorokin, aka Anna Delvey, confirmed to Insider that this semester she was set to make a virtual live appearance in front of MBA students at the top business school on February 14. In September, the 32-year-old spoke at an "Intro to Reporting" class for Columbia University students from her ICE detention facility. In September, the 32-year-old filed a lawsuit against Thomas for an alleged court order violation over transferring Sorokin's court files. In January, Harvard MBA students had the chance to hear from another unconventional source.

☆ NHL roundup: Flames rally with five unanswered goals
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +2 min

[1/5] Feb 22, 2023; Tempe, Arizona, USA; Calgary Flames center Mikael Backlund (11) shoots the puck as Arizona Coyotes left wing Matias Maccelli (63) defends in the third period at Mullett Arena. Blackhawks 4, Stars 3Patrick Kane and Max Domi each had two goals and an assist as visiting Chicago rallied from a three-goal, second-period deficit to beat Dallas. Jamie Benn had a goal and an assist and Jason Robertson and Tyler Seguin also scored goals for the Blackhawks, who lost their fifth straight game (0-3-2). Nikolaj Ehlers scored in the second for the Jets, who missed a chance to move past the idle Dallas Stars into first place in the Central Division. Hellebuyck recorded 20 saves for Winnipeg, which went 1-3-0 on a four-game Eastern Conference road trip.

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