Money Matters: Judge approves AA/US Air merger

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March 28, 2013, 8:11 am
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(NECN) - American Airlines and US Airways are getting the green light to merge into the world's largest airline. A federal judge approved the 11-billion dollar deal Wednesday. Government regulators and US Airways shareholders still need to approve the deal before it's finalized, which is expected to happen by fall.

The government is launching a new loan modification program July 1 aimed at helping struggling homeowners avoid foreclosure. The program will lower monthly mortgage payments on loans backed by Fannie Mae or Freddie Mac and applies to borrowers at least 90 days delinquent on their mortgages.

Higgins Armory Museum in Worcester, Mass., will be closing its doors at the end of the year. This follows an announcement earlier this month that the museum's endowment wouldn't sustain it much longer. The Higgins Armory houses a large collection of arms and armor. Those items will be moved to the Worcester Art Museum beginning in January.

For the 16th straight year, the New York Yankees have topped Forbes list of the highest-valued teams in major league baseball, rising 23-percent from last year to 2.3-billion. The LA Dodgers came in second at more than 1.6-billion. Boston ranked third with 1.3-billion. Rounding out the top five were the Chicago Cubs and Philadelphia Phillies.

Tags: mlb, Boston Red Sox, New York Yankees, business , American Airlines, Money Matters, merger, loans, US Airways, higgins armory museum, worcseter art museum
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