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Auto industry on the brink; S&P at 11-year low
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Delta Air Lines and Northwest Airlines announced a merger to create the world's largest airline, combining extensive domestic and international networks. The deal, valued at $17.7 billion, aims to counter industry pressures from high fuel costs and economic weakness, but faces regulatory and labor opposition. The merger could trigger further consolidation across the struggling airline sector.
Approximately 27,000 Boeing machinists represented by the International Association of Machinists have gone on strike after failed negotiations on pay and health benefits. The work stoppage has halted jet production, marking one of the most disruptive U.S. manufacturing strikes in years and potentially impacting Boeing's delivery schedules and financial performance.