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A deal to create the globe's biggest air carrier could come in just a few days and one automaker is trying to boost sedan sales with a hefty price cut. Here's the Friday Bloomberg After The Bell Report Report from the New York Stock Exchange.
Bloomberg has learned the boards of U.S. Airways and American Airlines' parent company AMR are prepared to vote on a merger on Monday. Sources say the executives of the companies and their advisers will hammer out the final details this weekend. Under the reported deal, U.S. Airways CEO Doug Parker would run the merged carrier, which would be the largest in the world.
Stocks were rising on strong earnings reports and news that European leaders reached a budget agreement. Markets were also bolstered by a report showing that record petroleum exports helped the trade deficit unexpectedly shrink in December to its smallest amount in almost three years.
Automaker General Motors is dropping the price on the Chevy Malibu by as much as $770 in an effort to make the car more appealing to online shoppers and make it more competitive with better-selling midsize sedans.