WASHINGTON - Orders for long-lasting manufactured goods rose more than expected in April, a sign of resilience in the factory sector despite belt-tightening in Washington and weakness in overseas markets.
LONDON - From ketchup to hot drinks, family-run investment firms are shaking up the consumer deals market, squeezing out private equity players and forcing them to change strategy.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.
Senate hearing expected on American, US Airways deal
WASHINGTON (Reuters) - U.S. Senators said on Thursday they will hold a hearing on the antitrust implications of a planned merger between US Airways Group (LCC.N) and AMR Corp (AAMRQ.PK), the parent of American Airlines.
The $11 billion all-stock deal, announced on Thursday, would create the world's largest air carrier.
"I plan to hold a hearing to thoroughly review the proposed merger and examine its impact on competition and consumers," said Amy Klobuchar, the Minnesota Democrat who chairs the Senate Judiciary subcommittee that considers antitrust, competition policy and consumer rights.
No date has been set for a hearing so far.
Mike Lee of Utah, the ranking Republican on the Senate antitrust subcommittee, said the planned merger could benefit consumers and the air travel industry, but "poses potential risks for the market" following years of airline consolidation.
"Antitrust officials must ensure that an additional merger of this magnitude would not lead to higher passenger fares, result in diminished service to regional markets, or allow for coordinated conduct among rivals," Lee said.
(Reporting By Ros Krasny)
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