The combined business would be owned 50/50 between shareholders of FCA and Groupe Renault.Autosread more
As trade talks between the U.S. and China increasingly center on Chinese treatment of foreign companies, Beijing says major American complaints about structural aspects of its...China Economyread more
Trump calls the US trade imbalance with Japan "unbelievably large."Politicsread more
Some House members want to lift the cap on state and local tax deductions, but it could be tough, in part because the move is expected to benefit high earners.Politicsread more
Smartphone users in Singapore, the U.K. and China told CNBC's "Beyond The Valley" that foldable smartphones are "very strange," "super bulky," and expensive compared to the...Technologyread more
Measles infected almost every American child until the vaccine eliminated the disease from the US. Now some parents are refusing to vaccinate their children, threatening to...Health and Scienceread more
Economic activity in the U.S. is "quite strong" while China has managed to stabilize its economy, said Tan Min Lan, Asia-Pacific head of chief investment office at UBS Global...World Economyread more
The U.S. is showing signs of targeting China's domestic surveillance and the tech supporting it.Technologyread more
A Beijing decision to rapidly and sharply cut its excessive and unsustainable trade surplus with the U.S. would change for the better the bilateral relationship, writes...World Economyread more
Plant-based protein makers Beyond Meat and Impossible Foods may be taking the food industry by storm, but there's no guarantee their products are healthier than the real...Fast Moneyread more
If you value reliability and quality over a posh cabin and jealous looks, the Lexus LX 570 two-row is the Japanese Range Rover you need.Autosread more
(Adds financial details, context, shares)
Nov 30 (Reuters) - United Continental Holdings Inc has finalized a three-way joint venture with carriers Avianca Holdings SA of Colombia and Copa Airlines of Panama, giving the No. 3 U.S. air carrier a stronger foothold in Latin America where travel demand is rising.
Under the deal announced on Friday, United said it would provide a $456 million term loan to cash-strapped Avianca's top shareholder, Synergy Group Corp.
Like its main U.S. rivals, United has been eyeing untapped potential for leisure and business travelers in Latin America, where many still travel long distances by car and bus.
United, Avianca and Copa are already codeshare partners and Star Alliance members, but a joint venture will allow them to plan routes and connections together and share revenues on those routes.
"This agreement represents the next chapter in U.S.-Latin American air travel," United President Scott Kirby said.
United's deal with Avianca, long in the works, had undergone significant legal back-and-forth after the Colombian flagship carrier's No. 2 shareholder Kingsland Ltd tried to halt negotiations between United and Synergy. The parties eventually came to an agreement.
The joint venture is subject to regulatory approval in the United States and several jurisdictions in Central and South America.
The Wall Street Journal first reported on Friday that the deal between United, Avianca and Copa was nearing completion.
Shares in United closed 1.7 percent higher Friday at $96.70. (Reporting by Ankit Ajmera in Bengaluru and Tracy Rucinski in Chicago; additional reporting by Marcelo Alonso Rochabrun in Sao Paulo and Julia Symmes Cobb in Bogota; Editing by Shailesh Kuber and Tom Brown)