Investing.com -- Wall Street looks set to start the new week on a negative note, as investors await the release of key inflation data and testimony from Fed chief Jerome Powell. Paramount Global agrees to merge with Skydance, while Boeing has accepted guilt to a criminal charge, netting a hefty fine.U.S.
The new entity will be led by Skydance’s David Ellison as chairman and CEO, and former NBC Universal CEO Jeff Shell has agreed to plead guilty to a criminal fraud conspiracy charge to resolve a U.S. Justice Department investigation into two 737 MAX fatal crashes. However, the plea spares Boeing a potentially costly trial, and could make it easier for the planemaker, which will have a new CEO later this year, to try to move forward as it seeks approval for its planned acquisition of Spirit AeroSystems and allies 143.