Low-cost American carriers Frontier and Spirit Airlines have reached an agreement to combine forces, a merger that “would create the fifth-largest U.S. airline by market share, putting pressure on the nation’s biggest carriers and raising concerns about further consolidation in an already-concentrated industry.” The companies signaled that they expect to hire an additional 10k employees by 2026, a promise perhaps aimed at countering what’s sure to be regulatory scrutiny ahead from the Biden administration - NYTimes and WSJ and MarketWatch and Law360

But we’re not all about two companies finding each other from across the room here. Reality does set in, too, as it did for Nvidia and SoftBank’s Arm unit. The two microchip powerhouses have called off their proposed $40 billion mega merger after considerable regulatory scrutiny, including an FTC-filed lawsuit. SoftBank is now exploring plans to take Arm public by the end of the next fiscal year - NYTimes and WSJ and Bloomberg and MarketWatch and TechCrunch

Amazon will raise “its cap on base cash compensation to $350,000, more than double the previous amount,” due to what it’s calling a “particularly competitive labor market.” Amazon had used prior caps to focus on “stock compensation that vest over several years for the rest of an employee’s pay package” - NYTimes and Bloomberg

Peter Thiel announced plans on Monday to step down from his role on Meta’s board of directors. Thiel had served on the board since 2005, making him one of the company’s longest-running members, and most tech insiders have seen his considerable influence on Zuck over that time, for whom he has served as a “confidante” - NYTimes and Bloomberg and WSJ and MarketWatch and TechCrunch

The resignation of former administration holdover Jelena McWilliams means that bank regulator Martin Gruenberg will take over as head of the Federal Deposit Insurance Corporation. Gruenberg announced FDIC policy initiatives for the year ahead and put reviewing bank mergers as a top priority - NYTimes and Law360

Breaking down last week’s better-than-expected Jobs Report - Marketplace

Steel tariffs imposed in 2018 will be lifted under a new agreement between the U.S. and Japan. The deal follows a similar one reached between the U.S. and E.U last fall to roll back trade barriers enacted in the past 5 years - NYTimes

Today’s version of “Covid changed everything”: bulk-buying appears here to stay - WSJ

The Senate Banking Committee is reportedly seeking more information about allegedly “predatory” robo-signing practices at JPMorgan Chase “after a published report” by the CFPB “detailed an increase in lawsuits by the bank against its customers” over debt-collection efforts - NYTimes

We’re definitely at the point of the winter here in the North that calls for a celebration of those putting in the time and effort to make backyard rinks a reality. Here are some of the best from my home state (and a special MT DIY bonus for good measure) - StarTribune

Stay safe, and get boosted,

MDR