Good morning, CFOs. Deal is reached to call off Air Canada flight attendants' industrial action; Trump administration to take stake in Intel?; plus, Starbucks and 2% raises.

Union leaders for Air Canada’s flight attendants said members would return to work after a deal was reached to end a strike that grounded hundreds of flights, hitting around 500,000 customers.

“The Strike has ended. We have a tentative agreement we will bring forward to you,” the union said.

The deal was reached in a mediated session that lasted more than nine hours and ended early Tuesday morning, the union said.

The airline said it would gradually restart its operations. “Restarting a major carrier like Air Canada is a complex undertaking,” Air Canada’s President and Chief Executive Officer Michael Rousseau said, adding that it could take a week or more to return to full service. Air Canada declined to comment on the agreement until it had been ratified by the union membership.

The Canadian Union of Public Employees, known as CUPE, which represents about 10,000 flight attendants at Air Canada and its subsidiary Air Canada Rouge, provided notice it intended to begin a strike Saturday after contract negotiations broke down.

The walkout over pay and conditions saw Air Canada ground all flights since Saturday.

📆 Earnings

• Home Depot
• Jack Henry & Associates
• Medtronic
• Toll Brothers
• Viking Holdings

📈 Economic Indicators

The Census Bureau reports new residential construction data for July.

SoftBank Group has agreed to invest $2 billion in Intel, a boost from the private sector that coincides with a U.S. government rescue effort for the embattled chip maker.

Trump administration officials are discussing taking a 10% stake in Intel in a bid to revive the company’s fortunes and bolster semiconductor manufacturing in the U.S., according to people briefed on the talks.

The structure and terms of a possible equity investment on the part of the U.S. government haven’t been finalized, but the conversations add to a saga unfolding for the company in Washington.

📰 Other headlines

• Dow Edges Lower With Fed, Retail Earnings in Focus
• Union Pacific Ordered to Pay Damages for Retaliating Against Worker
• Bondi Aides Corrupted Antitrust Enforcement, Ousted DOJ Official Says
• Exclusive: Soho House Members’ Club to Go Private
• Big Tech Is Eating Itself in Talent War
• Google Lifting Stake in TeraWulf With Additional $1.4 Billion Backstop
• Newsmax Settles Dominion’s Defamation Lawsuit for $67 Million
• Medtronic to Add Directors After Elliott Becomes Big Shareholder
• Private Equity Firms’ Stocks Are Struggling, Despite Getting Into 401(k)s
• How an Obscure Firm Bet on the Trumps and Became Their Go-To Dealmaker

Legend Biotech, the Somerset, N.J.-based biotech company, named Carlos Santos, previously an executive at AstraZeneca, as its new chief financial officer. At AstraZeneca, Santos served as CFO for U.S. oncology and before that, as acting area vice president for Latin America, Legend Biotech said. Santos also previously held financial-leadership positions at Alcon and Intel. Santos is taking over from Jessie Yeung, Legend Biotech’s interim CFO since January.

Janus Henderson Group, the London-based asset manager, appointed Sukh Grewal to the role of chief financial officer, effective April of next year. Grewal succeeds Roger Thompson, who is set to retire from the role at the end of March after more than 12 years at the company, Janus said. Grewal has been with Janus Henderson since 2022 as head of strategy and corporate development. Prior to that, Grewal was director of strategy and corporate development at investment firm AllianceBernstein, and also served in other roles at Apollo Global Management and Guggenheim Partners. Grewal will work with Thompson over the next several months to ensure a smooth transition, Janus said.

—Nicholas G. Miller and Adriano Marchese contributed to today’s Ledger.

The Wall Street Journal's CFO Journal offers corporate leaders and professionals CFO analysis, advice and commentary to make informed decisions. We cover topics including corporate tax, accounting, regulation, capital markets, management and strategy.

Follow us on X @WSJCFO. The WSJ CFO Journal Team comprises reporters Kristin Broughton, Mark Maurer and Jennifer Williams, and Bureau Chief Walden Siew.

You can reach us by replying to any newsletter, or email Walden at walden.siew@wsj.com.