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Trump weighs takeover of Spirit Airlines

NEW YORK (AP) — President Donald Trump said Thursday he is weighing a taxpayer-funded takeover of Spirit Airlines with the intent of reselling the struggling budget carrier after oil prices drop. The president confirmed his continued interest in offering Spirit a financial lifeline after a lawyer told a U.S. Bankruptcy Court that the airline was in advanced talks with the government on a financing deal to allow Spirit to emerge from Chapter 11 protection. “They have some good aircraft and good assets, and when the prices of oil goes down, we’ll sell it for a profit,” Trump ...

Supreme Court rules for Michigan in its fight to shut down an aging pipeline

WASHINGTON (AP) — The Supreme Court on Wednesday sided with Michigan in ruling that the state’s lawsuit seeking to shut down a section of an aging pipeline beneath a Great Lakes channel will stay in state court. Justice Sonia Sotomayor wrote for a unanimous court that the Enbridge energy company waited too long to try to move the case to federal court. The case is part of a messy legal dispute about a pipeline that has moved crude oil and natural gas liquids between Superior, Wisconsin, and Sarnia, Ontario, since 1953. Michigan Attorney General Dana Nessel sued in state court ...

CSX delivers 25% jump in profit as it hauls more goods, cuts expenses

CSX railroad’s profit jumped 25% in the first quarter as the railroad hauled 3% more shipments and cut its expenses. The Jacksonville, Florida-based railroad said Thursday that it earned $807 million, or $0.43 per share, as it continued to improve efficiency. That’s up from $646 million, or $0.34 per share, a year ago. CSX easily topped the expectations of the analysts surveyed by FactSet Research who predicted earnings per share of 39 cents. The railroad said it cut expenses by 6% to $2.2 billion in the quarter as CEO Steve Angel, who took over last fall, continued to improve ...

Trumbull, Mahoning inch ahead in February unemployment numbers

Staff report Mahoning Valley’s employment numbers readjusted slightly following a bleak January report, according to county and city figures released Tuesday. Mahoning County improved three-tenths of a percentage point with a 6.2% unemployment rate in February, the Ohio Department of Job and Family Services said. Trumbull County went from 7% in January to 6.6% unemployment. However, they are among the counties with the highest unemployment rates statewide for the month. Both dropping two spots from the previous month, Trumbull is ranked 11th and Mahoning 15th. Mahoning added 1,000 ...

Trump picks a University of Minnesota professor to lead his economic council

WASHINGTON (AP) — President Donald Trump on Tuesday nominated University of Minnesota economist Christopher Phelan to be the next chairman of the White House Council of Economic Advisers, a key position for conducting analyses of the economy and the administration’s policies. If confirmed by the Senate, Phelan would succeed Stephen Miran, a Harvard University-trained economist who worked at investment funds and joined the Federal Reserve Board of Governors last September. The council’s vice chairman, Pierre Yared, had served as acting leader after Trump shifted Miran to the ...

Apple’s new CEO steps into spotlight

LONDON (AP) — Apple’s next CEO John Ternus is a company veteran who rose through the iPhone maker’s hardware engineering ranks but until now has maintained a low profile. Ternus will take over as chief executive in September for Tim Cook, who turned Apple into a $4 trillion tech ...