Must-Read Money Stories for Wednesday, Feb. 15

by February 15, 2017
A pilots union for American Air voted no-confidence Tuesday in CEO Doug Parker. (Image "Back in the USA" by John Fowler via Flickr, CC license by 2.0.)

An American Airlines pilot union voted no-confidence Tuesday in CEO Doug Parker. (Image “Back in the USA” by John Fowler via Flickr, CC license by 2.0)

Mega health mergers dropped

Four U.S. health insurance giants effectively ended their corporate marriage pursuits Tuesday. The Valentines Day ending resolved amicably in one instance and more sourly in the other, according to USA Today. The former  was marked by mutual agreements between Aetna and Humana to walk away from their $37 billion-merger plan following recent anti-trust court rulings that blocked the deal. But the latter—a $48 billion merger proposal between Anthem and Cigna—may be far from over. After that merger was similarly blocked last week, and before Anthem could follow through on its plans to appeal, Cigna filed court papers exercising its right to end the deal while collecting $1.85 billion in fees from Anthem.

Yellen hints of a hike

Wall Street and the U.S. dollar ended Tuesday on a high note following remarks by Federal Reserve Chair Janet Yellen. Yellen said that plans for a March interest rate hike were still on the table, according to Reuters. Yellen made her comments during testimony before the U.S. Senate Banking Committee, saying further postponement of such increases would be “unwise” for the economy at large but also warning of the uncertainties surrounding Donald Trump’s upcoming economic policies.

NBC claims stake in overseas news

NBC News announced Tuesday its plans to hand over $30 million for a minority stake in Euronews—a television news outlet with programs airing in 164 countries across Europe, Africa and the Middle East. The new venture, dubbed Euronews NBC, means executives are undergoing a major shuffle as NBC works to integrate Euronews’ 500 journalists and other resources into its American news programs. The goal is to broaden coverage of international issues, according to this Associated Press article published by U.S. News & World Report.

Pilots rally against American CEO

Union leaders representing pilots for American Airlines Group Inc. gave a vote of no-confidence Tuesday in the airline’s CEO Doug Parker. He’s the same executive the unions backed during the 2013 mega-merger with U.S. Airways, where Parker was chief executive at the time. A no-confidence vote is more symbolic than a point of action, according to Bloomberg. But it spotlighted the division between pilots and management that’s been brewing since Parker’s refusal to approve pay raises for American Air aviators.

Get a quick snapshot of the day’s most newsworthy business stories in your mailbox each morning. It’s fast and free. Sign up here.