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UK inflation rises to 10.1% on back of soaring food prices [Guardian]
The figure was last higher in 1982. City economists had forecast a slightly smaller rise to 10%.... Consumers faced price increases across a wide-ranging basket of goods and services, including from hotel overnight stays, furniture and household goods such as washing machines, electric fans and vacuum cleaners.

Spirit Airlines shareholders vote in favor of $3.8 billion JetBlue merger [Reuters via Yahoo!]
JetBlue and Spirit face an uphill struggle getting U.S. regulators to approve their combination, after Spirit talked up the chances of the deal being blocked when it was resisting the bid earlier.
Frontier Group Holdings Inc and JetBlue were locked in an intense bidding war for Spirit, to create a combined airline that could compete with legacy U.S. carriers at a time when the industry faces worker shortages and high jet fuel costs.

It’s been 35 years since the epic Black Monday crash. What have investors learned? [CNN]
“You couldn’t get a bid. People tried to sell and couldn’t. Normally, you just put an order in, and it was done,” [former Goldman Sachs broker John Hirtle] said.
Hirtle said it’s also important to remember that in 1987, most trades were physically handled on the floor of the exchange. Now, it’s mostly done electronically.

Schonfeld Strategic Advisors Opens Summit, New Jersey Office [press release]
The approximately 9,000 square foot facility can hold over 50 investment and infrastructure professionals. In the past 12 months, Schonfeld has expanded its US footprint in Miami, FL, Stamford, CT, Jericho, NY, New York, NY, Dallas, TX, San Francisco, CA and Los Angeles, CA.

HK Proposes Lower Revenue Threshold for Cutting-Edge Tech IPOs [Bloomberg via Yahoo!]
Granting easier access to public markets for such companies fits with China’s push to beef up its artificial intelligence and semiconductor industry. For the HKEX, the move may boost its appeal as a listing hub and broaden its revenue stream, after a bruising year hit by Covid and regulatory setbacks that have dented its listing business.

Julian Robertson’s Family to Sell New Zealand Winery Business [Bloomberg]
Dry River Wines, located in Martinborough near the southern tip of New Zealand’s North Island, will be sold to Wellington-based businessman Charlie Zheng…. “While my family’s deep love and commitment to New Zealand remains strong, the last couple of Covid years gave us the chance to refocus and consolidate our business interests,” Jay Robertson, Julian’s son and chief executive officer of Robertson Lodges, said in the statement. “It became evident that tourism, hotels and their restaurants, and golf were our core New Zealand businesses….”
The family bought Dry River Wines in Martinborough, an area famous for its pinot noir, in 2002….


jetblue spirit

Opening Bell: 4.6.22

Home-field advantage; insuring private equity; JetBlue wants Spirit; crypto-retirement; and more!

jetblue spirit

Opening Bell: 7.28.22

It’s starting to look like a recession; build back a bit; JetBlue’s got Spirit; Jack Ma gives up; and more!

capitol riot 2

Opening Bell: 6.29.22

Corporate cowards; last sprint for Spirit; Griffin’s guy gutted; and more!

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Opening Bell: 6.28.22

Tell us if you’ve heard this before; Dan Och’s revenge revered; JetBlue really wants to buy Spirit; and more!

nyse at night

Opening Bell: 6.30.22

A hell of a half; inflation inflates less; Spirit dithers; split on splits; and more!

Snap founders Evan Spiegel and Bobby Murphy

Opening Bell: 4.4.17

Tech CEOs are ruining shareholding; how Mexican civil servants pulled off a $5 billion oil deal; get a taste of Warren Buffett; and more.


Opening Bell: 5.2.22

Spirit shoots down JetBlue; Jimmy and Elon, sittin’ in a tree; Airbnb tells employees they belong anywhere; and more!

Photo: Getty Images.

Opening Bell: 6.8.22

Credit Suisse’s streak stays alive; Spirit taking its time; no IPOs; Odey above water; and more!