As the Iran war puts pressure on airlines, executives are fueling speculation about industry consolidation.

United Airlines CEO Scott Kirby suggested a possible merger with American Airlines to President Donald Trump earlier this year, according to Bloomberg. Meanwhile, Transportation Secretary Sean Duffy told CNBC last week he believes there is “room for some mergers in the aviation industry” and that Trump “loves to see big deals.”

Still, Henry Harteveldt, president of travel market research and advisory firm Atmosphere Research Group, tells Forbes that a United-American combination remains highly unlikely.

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In a bid to compete with SpaceX’s Starlink, Amazon took a giant leap with its $11.57 billion purchase of satellite company Globalstar.

Luxury goods giant LVMH’s plunging stock has tanked the fortune of its billionaire owner Bernard Arnault by nearly $50 billion this year.

Kevin Warsh will likely be the wealthiest Federal Reserve chairman ever if he’s confirmed, as he disclosed assets worth more than $100 million on Tuesday. Warsh reported investments and holdings worth between $131 million and $209 million—separate from those of his billionaire wife, Jane Lauder—ahead of his confirmation hearing set to be held sometime next week.

Several billionaires are now backing California gubernatorial candidate and San Jose Mayor Matt Mahan after Rep. Eric Swalwell suspended his campaign and resigned from Congress in the wake of sexual assault allegations. Meanwhile, former timeshare resort executive Stephen Cloobeck, a near-billionaire donor to Swalwell’s campaign, says he spent more than $1 million on his support and may seek legal action to have his money refunded.

It’s Tax Day, but if you’re mailing your return, it’s important to be aware that the agency clarified that most postmarks reflect the date of postal processing, not necessarily the date that a piece of mail was deposited by the sender. To avoid penalties and interest, ask for a manual postmark, buy postage at the counter or purchase a certificate of mailing.

Inside The Indonesian Starbucks Challenger That’s Betting On Affordable Premium Coffee

When cofounder and CEO Edward Tirtanata opened the first Kopi Kenangan grab-and-go store in Jakarta, he was targeting young people looking for an alternative to cheap instant coffee sold by street vendors but who didn’t want to pay more than double the price charged by international chains such as Starbucks and Dunkin’.

Positioning itself in that sweet spot has paid off for Kopi Kenangan, which became a unicorn in 2021 after raising $96 million in a series C funding round and overtook the local unit of Starbucks in retail reach two years later. Today, it claims to be Indonesia’s biggest coffee chain with a third of the market and 1,136 outlets, as well as 188 overseas, as of December. Eyeing what he reckons is a burgeoning customer base for quality Indonesian coffee, 37-year-old Tirtanata is brewing a plan to invest $200 million to more than triple the store count to 4,000 by 2030.

“We’d like to be the single company or brand that is the most dominant in Southeast Asia, not just by store count but by revenue and profitability,” he declares.

WHY IT MATTERS The entrepreneur’s ambitions dovetail with a regional retail coffee business undergoing rapid change, according to Roshan Behera, a Singapore-based partner at India-headquartered Redseer Strategy Consultants. Consumers “are moving away from unorganized, low-quality channels,” Behera says, in favor of “a guaranteed, elevated experience.” At the same time, premium coffee drinkers are seeking alternatives “that offer high-end quality without the expensive price tag,” he says.

MORE How America’s Most Popular Iced Tea Company Brewed Up A $1.7 Billion Family Fortune

Robinhood and Coinbase stocks will benefit the most from the boom in prediction markets, new reports from Cantor Fitzgerald and Bernstein show. Robinhood has an advantage given its large customer base and user-friendly app, Bernstein noted:

$1 trillion: How much users could bet on prediction markets annually by 2030

Around $60 billion: The betting volume on Kalshi and Polymarket this year so far, on pace to quadruple last year’s total

10%: The surge in Robinhood’s stock Tuesday, compared to Coinbase’s 5.7%

Layoffs may be a short-term fix for a company’s finances, but they create long-term challenges with attracting and retaining talent. High-performing employees who remain will quietly start exploring their options, and future potential hires will evaluate how your organization handles tough decisions. There’s no easy way to do layoffs, but be sure to communicate early and with empathy, and provide visible support.

Billionaire John Morgan is offering $100,000 to whomever comes up with a name for the new political party he intends to create. In which state does he plan to create the party?

Thanks for reading! This edition of Forbes Daily was edited by Sarah Whitmire and Chris Dobstaff.

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