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Federal Judge Blocks JetBlue-Spirit Merger Over Fears of Eliminating Competition

Updated Jan. 16, 2024 5:13 pm ETA federal judge on Tuesday blocked JetBlue Airways $3.8 billion deal to buy Spirit Airlines, rejecting a merger that he said would hamper competition and lead to higher fares.The ruling thwarts what would have been the biggest U.S. airline merger in over a decade. It marks a victory for the U.S. Department of Justice, which sued last year to prevent JetBlue and Spirit from going ahead with their tie-up.Copyright ©2024Dow Jones & Company, Inc. All Rights Reserved.

Apple to Remove Blood Oxygen Sensor From Watch to Avoid U.S. Ban, Rival Says

Updated Jan. 15, 2024 2:27 pm ETAppleis removing a blood-oxygen sensor from some of its smartwatches to get around a patent dispute related to the technology, a step likely to avoid further sales disruptions but one that may raise questions about the company’s push into health.The company halted sales of some watch models briefly last month after a U.S. import ban went into effect stemming from an October ruling by the U.S. International Trade Commission. The trade agency found Apple had violated the patents of

Axel Springer Stands By Business Insider Reporting on Bill Ackman’s Wife

Jan. 14, 2024 12:27 pm ETBusiness Insider owner Axel Springer said it stands by the publication after reviewing the reporting process behind stories that alleged plagiarism by Neri Oxman, the designer and former Massachusetts Institute of Technology professor who is married to hedge-fund billionaire Bill Ackman.The German media company said last week it would review the process and motivations behind the recent BI articles. The review came amid complaints from Ackman, in a series of posts on X, about the publication’s

SEC Charges Future FinTech Group CEO Huang With Manipulative Trading

The Securities and Exchange Commission has charged Shanchun Huang with allegedly inflating Future FinTech Group’s share price just before he took over as the company’s chief executive.The SEC alleged in a complaint Thursday that Huang used manipulative trading techniques in early 2020 to push the fintech firm’s share price up, with the goal of preventing it from being delisted from the Nasdaq exchange.Copyright ©2024Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 The Securities and

EPA Calls on Telecom Executives to Meet About Lead-Sheathed Phone Cables

 The Environmental Protection Agency sent letters requesting telecom companies to meet with the agency about their lead-sheathed phone cables, in a new phase of an investigation in the EPA’s efforts to protect the public from potential lead hazards.The agency’s move comes on the heels of the EPA finding more than 100 soil and sediment readings with lead above the regulator’s safety guideline for children at some phone lead-cable sites identified by The Wall Street Journal in three states.Copyright ©2024Dow Jones &

EBay to Pay $3 Million Penalty for Employees Sending Live Cockroaches, Fetal Pig to Bloggers

EBay agreed to pay a $3 million criminal penalty after employees engaged in a harassment campaign against two bloggers for their coverage of the company, including mailing them live cockroaches and a fetal pig. The e-commerce giant was charged with two counts of stalking through interstate travel, two counts of stalking through electronic communications services, one count of witness tampering and one count of obstruction of justice. Copyright ©2024Dow Jones & Company, Inc. All Rights Reserved.

It’s Time to Turn on Two-Factor Authentication

We get it. Turning on two-factor authentication for your online accounts can be a pain. But like going to the dentist, it’s just something you have to do.On Tuesday, someone broke into the Securities and Exchange Commission’s official X account and tweeted that spot bitcoin exchange-traded funds had been approved, sending the price of the cryptocurrency briefly higher. The official-looking announcement was a hack, an SEC spokeswoman said; the agency did officially approve the ETFs on Wednesday. Copyright ©2024Dow Jones

ESPN’s Pat McAfee Said He Doesn’t ‘Take Back Anything’ After Skewering Colleague

When ESPN placed a big bet on a new star, Pat McAfee, to bring in young audiences with an edgy brand of sports-talk programming, the network knew the appointment carried risks. In recent days, they have been apparent. McAfee, an F-bomb-throwing former NFL punter whose show made its debut on ESPN in September, has been on the defensive since an appearance last week by New York Jets quarterback Aaron Rodgers. Rodgers, a recurring guest on McAfee’s show, implied during the show that ABC talk show host Jimmy Kimmelhad ties

Walgreens to Pay Humana $360 Million to Settle Drug-Pricing Dispute

Walgreens Boots Alliance has agreed to pay $360 million to insurance company Humana to settle a lawsuit alleging the retail-pharmacy chain overcharged for prescription-drug reimbursements.Walgreens disclosed the settlement in a securities filing last week. The company said it had asked a federal court to vacate a previous award in Humana’s favor for $642 million.Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 WalgreensBoots Alliance has agreed to pay $360 million to

JetBlue CEO to Step Down as Airline Awaits Judge’s Ruling on Spirit Airlines Merger

Updated Jan. 8, 2024 5:37 pm ETRobin Hayes will step down as CEO of JetBlue Airways after about nine years at the helm, citing a doctor’s advice, as the company waits to find out whether a federal judge will block the merger with Spirit Airlines that he championed. Joanna Geraghty, a longtime JetBlue executive and the airline’s current president, will take his place as chief executive when Hayes steps down in February. She will become the only woman at the helm of a major U.S. airline. Copyright ©2024Dow Jones &