Business News Posts

AT&T and Time Warner say proposed merger is ‘pro-consumer’

WASHINGTON (Reuters) – AT&T Inc and Time Warner Inc argued on Tuesday that their proposed $85.4 billion merger was “pro-competitive” and “pro-consumer”, as they sought to refute U.S. Justice Department allegations that the deal breaks antitrust law.

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Dollar cheered by tax cut progress, outshone by bitcoin

SYDNEY (Reuters) – The dollar held firm on Wednesday after Wall Street shot to record peaks amid signs of progress on U.S. tax cuts, while bitcoin topped $10,000 on a host of exchanges as the frenzy for cryptocurrencies showed no sign of fading.

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SoftBank offering to buy Uber shares at 30 percent discount

SAN FRANCISCO (Reuters) – Japan’s SoftBank Group Corp is offering to purchase shares of Uber Technologies Inc at a valuation of $48 billion, a 30 percent discount to its most recent valuation of $68.5 billion, a person familiar with the matter said on Monday.

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Asian shares fall from decade peak as China falters

SYDNEY (Reuters) – Asian shares stepped back from decade highs on Tuesday as Chinese stocks stumbled for a second straight session, while the U.S. dollar trod water ahead of a crucial Senate vote on tax reform.

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Asia stocks slip as China, South Korea weakness weigh, euro hits 2-month high

TOKYO (Reuters) – Asian stocks gave back earlier modest gains and fell back from a decade high on Monday, weighed by weakness in the Chinese and South Korean markets, while the euro reached a two-month top against the dollar.

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Meredith to buy U.S. publisher Time in Koch-backed deal

(Reuters) – U.S. media company Meredith Corp said on Sunday it will buy Time Inc, the publisher of People, Sports Illustrated and Fortune magazines, in a $1.84 billion all-cash deal backed by conservative billionaire brothers Charles and David Koch.

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‘Stealth hedging’ shows investors not so complacent

NEW YORK (Reuters) – With the U.S. stock market at a record high and daily stock gyrations near multi-decade lows, some investors have raised concerns about the lack of fear in the market, but U.S. equity options market data suggests investors are far from complacent.

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Black Friday, Thanksgiving online sales climb to record high

CHICAGO (Reuters) – Black Friday and Thanksgiving online sales in the United States surged to record highs as shoppers bagged deep discounts and bought more on their mobile devices, heralding a promising start to the key holiday season, according to retail analytics firms.

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Shoppers browse stores, buy online as Black Friday deals beckon

CHICAGO/NEW YORK (Reuters) – U.S. stores offered deep discounts, entertainment and free gifts to lure bargain hunters on Black Friday, the traditional start of the holiday retail season, but some shoppers said they were just browsing the merchandise, reserving their cash for internet purchases.

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Tech leads S&P above 2,600; Amazon, other retail stocks gain

(Reuters) – Technology stocks led the S&P 500 and Nasdaq to record closing highs on Friday, with the S&P ending above 2,600 points for the first time, while Amazon and retail stocks got a boost from signs of a strong start to the holiday shopping season.

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Asian shares off 10-year peak, eyes on China markets

TOKYO (Reuters) – Asian shares hovered below their 10-year peak on Friday while investors viewed Chinese shares with caution after their big fall the previous day.

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Uber told SoftBank about data breach before telling public

(Reuters) – Uber Technologies Inc said on Thursday that it discussed a massive data breach with potential investor SoftBank Group Corp ahead of going public with details of the incident on Tuesday.

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Fed policymakers say rate increase likely warranted soon: minutes

WASHINGTON, Nov 22 (Reuters) – Many Federal Reserve policymakers expect that interest rates will have to be raised in the “near term,” according to the minutes of the U.S. central bank’s last policy meeting released on Wednesday.

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Uber breach, cover-up trigger government probes around the globe

TORONTO (Reuters) – Governments around the globe launched investigations into Uber Technologies Inc [UBER.UL] after the company disclosed it had covered up a breach that exposed data on millions of customers and drivers, the latest scandal to rock the ride-hailing firm.

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FCC chief plans to ditch U.S. ‘net neutrality’ rules

WASHINGTON (Reuters) – The head of the U.S. Federal Communications Commission unveiled plans on Tuesday to repeal landmark 2015 rules that prohibited internet service providers from impeding consumer access to web content in a move that promises to recast the digital landscape.

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Uber CEO says company failed to disclose massive breach in 2016

(Reuters) – Uber Technologies Inc [UBER.UL] failed to disclose a massive breach last year that exposed the data of some 57 million users of the ride-sharing service, the company’s new chief executive officer said on Tuesday.

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U.S. sues to stop AT&T buying Time Warner, says would hike rates

WASHINGTON (Reuters) – The U.S. Department of Justice sued AT&T Inc on Monday to block its $85.4 billion acquisition of Time Warner Inc , saying the deal could raise prices for rivals and pay-TV subscribers while hampering the development of online video.

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Asia stocks supported by global growth optimism, dollar strong

TOKYO (Reuters) – Asian stocks edged higher on Tuesday as investors took heart from further evidence of strength in the global economy, while the dollar hovered near a one-week high against its peers thanks to higher U.S. yields and a floundering euro.

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Airbus faces tricky hurdles over stalled A380 Emirates deal

DUBAI (Reuters) – A preliminary deal to sell 36 A380s to Emirates blew up in an Airbus hospitality chalet moments before the Gulf carrier was expected to shower $30 billion on the planemaker and its U.S. rival Boeing at the start of last week’s Dubai Airshow.

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Battered GE shares lure some buyers but worst may not be over

NEW YORK (Reuters) – General Electric Co shares stabilized after a brutal slide last week sent the stock near six-year lows, but the worst may not be over.

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‘No fireworks’ at NAFTA talks, but few signs of progress

MEXICO CITY (Reuters) – Negotiations in Mexico to update NAFTA have not made much progress on tough U.S. demands that could sink the 1994 trade pact, but the current round of talks are progressing with civility, some participants said on Saturday.

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Volkswagen to invest $27 billion in core brand until 2022

FRANKFURT (Reuters) – Volkswagen will invest 22.8 billion euros ($26.9 billion) in its main car brand over the next five years, it said on Saturday, a day after it announced a spending program aimed at bolstering its position as a maker of electric cars.

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Despite Amazon, brick stores are not dead yet

NEW YORK (Reuters) – Just in time for the Black Friday kick-off to holiday season shopping, stock market investors have been handed tools to bet on the decline of brick-and-mortar retail.

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Buyers circle suddenly attractive U.S. media companies

WASHINGTON (Reuters) – All of a sudden, it seems, everybody wants to own a U.S. media company.

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Asian shares gain as earnings, tax debate help U.S. stocks

TOKYO (Reuters) – Asian shares rose on Friday as strong U.S. earnings and a step forward in the U.S. Congress on tax reform brightened the mood, even though investors noted that many more hurdles must be passed to reach a final deal on tax cuts.

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