Federal judge blocks JetBlue-Spirit Airlines deal
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 16 January 2024
⏱️ 1 minutes
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Summary
Stocks fall; judge argues combination would reduce competition; Goldman Sachs profits rise on wealth management revenue; dealmaking could pick up this year.
Transcript
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| 0:00.0 | This is the Marketplace Minute. I'm Justin Ho. Stocks closed down on Tuesday. The Dowell fell more than 6 tenths percent, the S&P gave up almost 4 tenths percent, and the NASDAQ lost 2 tenth percent. A federal judge blocked JetBlue's |
| 0:16.5 | proposed acquisition of the low-cost carrier Spirit Airlines. On one hand the judge |
| 0:21.5 | said the merger would likely put competitive pressure on bigger airlines, |
| 0:25.0 | but on the other the judge said the deal would reduce competition for customers who rely on spirits low fares. |
| 0:31.0 | Goldman Sachs says profits rose last quarter, at the same time a year ago. |
| 0:35.5 | Goldman's been earning more from its wealth management division. |
| 0:38.4 | The bank also does a lot of advising on mergers and there haven't been that many lately. |
| 0:43.0 | That said analysts expect that corporate deal-making could pick up this year. |
| 0:48.0 | Part of that is because there's a big pipeline of deals that have stalled because interest rates are high. |
| 0:52.0 | That could change if rates come down. |
| 0:54.4 | I'm Justin Ho with the marketplace minute. You're going to. |
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