If JetBlue Needs Spirit Airlines This Badly, It Must Fear Life Alone

JetBlue's willingness to pay a hefty premium for low-cost carrier Spirit Airlines is being punished by investors, with some wondering what it suggests about JetBlue's place in a future of high costs.

 
Beer Demand Lifts Corona Maker's Sales

Constellation Brands said quarterly sales grew by almost 17%, with strong demand for Modelo and Corona beers helping offset rising costs, and said its board has agreed to a plan reducing the Sands family's voting power.

 
Unity Software Lays Off Around 4% of Workforce

The maker of tools for creating mobile games and other applications is the latest tech company to turn cautious about staffing.

 
Drugmaker Endo Skips Interest Payment Amid Debt Talks

The drug producer is in discussions with creditors as it faces an earnings drop and thousands of opioid-related lawsuits.

 
RH Cuts Financial Targets, as Furniture Retailers Face Slower Consumer Spending

RH, formerly Restoration Hardware, is the latest furniture seller to brace for a sharp slowdown in sales, as mortgage rates rise and consumers pull back spending on sofas, beds and other furnishings.

 
Walgreens Profit Shrinks After Opioid Deal, Fewer Vaccinations

The drugstore chain said its quarterly sales fell and earnings plunged as revenue from Covid-19 vaccinations dried up. It also paid out a $683 million opioid settlement.

 
Pfizer Asks FDA to Fully Approve Its Covid-19 Pill

Approval of Paxlovid, which has been available under an Food and Drug Administration authorization for use during the pandemic, would allow Pfizer to market and sell it commercially.

 
Singapore Central Bank Reprimands Crypto Hedge Fund Three Arrows

Singapore's top financial regulator reprimanded cryptocurrency hedge fund Three Arrows Capital, saying it supplied false information to officials and managed more assets than allowed.

 
Tencent, ByteDance Implement Fresh Layoffs Amid China's Economic Pains

The latest round of job cuts at Chinese tech giants comes even as Beijing signals an easing of its regulatory campaign against the tech sector.

 
UBS to Pay $25 Million to Settle SEC Fraud Charges

The Swiss bank agreed to settle fraud charges from the Securities and Exchange Commission over a complex options trading strategy that lost customers tens of millions of dollars.

(END) Dow Jones Newswires

June 30, 2022 13:00 ET (17:00 GMT)

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