Business news in brief
By The Associated Press
Alaska Air clears big hurdle in proposed merger
Alaska Air is one step closer to acquiring Hawaiian Airlines after the U.S. Department of Justice chose not to challenge the $1.9 billion deal that the carriers say will create a company better able to serve travelers.
Alaska Air announced in December that it would pay $18 in cash for each share of Hawaiian. The brands of both airlines would be preserved after the merger, which is unique in an industry where decades of acquisitions have left only four big carriers dominating the U.S. market.
Alaska and Hawaiian say they have few overlapping routes and the intent of a tie-up is to allow the new airline to better compete with American, Delta, Southwest and United Airlines.
Deep seas, tight spaces impede search after yacht sinks
PORTICELLO, Sicily | Police divers have resumed searching for six people believed trapped in the hull of a superyacht that sank off Sicily. They include British tech magnate Mike Lynch, who was celebrating his recent acquittal on fraud charges with the people who had defended him at trial.
The luxury sailboat, off Porticello near Palermo, is some 50 meters underwater. That depth requires special precautions and rescue crews said they were working in 12-minute shifts.
The Bayesian is a 56-meter yacht that was moored about a kilometer offshore when a storm rolled in early Monday. Civil protection officials said they believed the ship was struck by a tornado over the water, known as a waterspout. Fifteen of the 22 people aboard survived.
Vegas Venetian workers reach tentative deal on first-ever union contract
LAS VEGAS | Thousands of hospitality workers on the Las Vegas Strip have reached a tentative deal with the Venetian and Palazzo resorts. It’s a historic first for employees at the sprawling Italian-inspired complex that opened 25 years ago and quickly became a Sin City landmark.
The Culinary Workers Union announced Tuesday that they had reached a deal just before 6:30 a.m. for over 4,000 workers. The deal still needs to be approved by the union’s rank and file. Terms of the proposed contract haven’t been released, but recent contracts for 40,000 workers at other Strip casinos included a 32% raise over five years.
—From AP reports
