Budget Airlines Seek $2.5B; Transport Secretary Opposes Rescue

 

Washington — U.S. Transportation Secretary Sean Duffy said Saturday at Newark Airport that the federal government should not provide a $2.5 billion bailout to low-cost carriers following the collapse of Spirit Airlines. A coalition of budget carriers, including Frontier and Avelo, proposed exchanging warrants convertible into equity for government assistance...

Berkshire Hathaway Q1 Profit Rises, Cash Nears Record

 

Omaha, Nebraska. Berkshire Hathaway reported on Saturday that its first-quarter operating profit rose 18% to $11.35 billion and that net income, including investment gains, more than doubled to $10.1 billion, equating to $7,027 per Class A share; the company also repurchased $234 million of its own stock during the quarter. The...

Spirit Airlines halts operations, cancels all flights immediately

 

West Palm Beach: Spirit Airlines announced on May 2, 2026, that it had begun an orderly wind-down of operations, effective immediately, canceling all flights and suspending customer service. The company said it was ending operations after 34 years and noted that roughly 17,000 employees were affected by the shutdown. On Saturday...

Government bailout talks fail as Spirit faces shutdown

 

West Palm Beach, Fla. — Spirit Airlines appeared closer to a shutdown on Friday after a proposed government bailout did not materialize; the administration said it had offered a 'final proposal' but no deal was reached, and the carrier continued operating flights while preparing for possible suspension amid Chapter 11...

US raises EU auto tariffs to twenty-five percent

 

Washington — US President Donald Trump said on Friday that he will increase tariffs on cars and trucks from the European Union to 25 percent next week, up from a previously agreed 15 percent ceiling, and reiterated that vehicles produced in US plants would not face the tariff in a...

Trump Offers Final Proposal as Spirit Eyes Shutdown

 

Washington — President Donald Trump said Friday the White House delivered a final proposal to Spirit Airlines and its creditors to try to rescue the bankrupt carrier, while Spirit prepared to cease operations if no deal is reached. Trump framed the option as a potential taxpayer-funded takeover aimed at preserving...

Greg Abel Presides Over Berkshire's Annual Shareholder Gathering

 

Omaha, Nebraska. Greg Abel presided over his first Berkshire Hathaway annual meeting on Saturday, May 2, 2026, speaking directly to shareholders and taking the helm as chief executive while founder Warren Buffett watched from the audience; thousands of attendees gathered in the arena as company executives answered operational and strategic...

US Closed-End Funds Announce Distributions, One Planned Reorganization

 

Philadelphia — This week multiple U.S. closed-end funds announced scheduled distribution payments and an approved reorganization. On April 30, 2026, Aberdeen-related funds and abrdn Global Income Fund, Inc. (FCO) paid distributions for shareholders of record as of April 22, 2026, and shareholders approved FCO's conversion to abrdn Asia-Pacific Income Fund,...

NNN and Ryman Report Q1 Results, Guidance Updated

 

Orlando — NNN REIT Inc reported first-quarter funds from operations of $165.7 million, or $0.87 per share, on Thursday, matching Wall Street estimates; the company reported net income of $94 million, or $0.50 per share, and revenue of $240.4 million for the period, and provided full-year FFO guidance of $3.53...

Union Pacific files amended $85B merger application this week

 

Omaha, Neb. — Union Pacific filed an amended application Thursday seeking approval to acquire Norfolk Southern for $85 billion, arguing the combined railroad would create a one-carrier coast-to-coast system and reduce delivery time by eliminating interline handoffs. The Surface Transportation Board previously rejected the initial filing in January as incomplete. This...