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Viacom’s independent directors vow to fight ouster attempt
By Jessica Toonkel and Chuck Mikolajczak NEW YORK (Reuters) – Viacom Inc's six independent directors vowed on Monday to fight any attempt to oust them from the board, saying they found “inexplicable” the assertion that controlling shareholder Sumner Redstone was mentally competent and acted of his own free will. In a letter to shareholders, Lead Independent Director Fred Salerno... [Read more]
Verizon, unions agree to pay raises, new jobs to end strike
One analyst called the deal “very rich” for workers at Verizon, the No. 1 U.S. wireless provider, which reached the tentative pact with the Communications Workers of America (CWA) on Friday. The CWA said Verizon agreed to provide a 10.9 percent raise over four years while Verizon put the increase at 10.5 percent. According to the CWA, both numbers are correct, with the union's Read... [Read more]
Verizon strike seen lowering U.S. May payrolls by 35,000 jobs
The department's monthly strike report showed 35,100 Verizon employees were idle during the survey period for the May payrolls count. Striking workers who do not receive a paycheck during the period are considered unemployed. Labor Secretary Thomas Perez said on Friday that Verizon and unions representing the striking workers had reached a tentative deal. See the original post: Verizon strike... [Read more]
Fed’s Powell says interest rates could rise ‘fairly soon’
A U.S. rate hike may come “fairly soon” if data confirm the economy is continuing to grow and labor markets are still tightening, Federal Reserve Governor Jerome Powell said on Thursday in remarks that may help tee up higher rates as soon as mid-June. Powell said the economy remains on a “solid footing” and that he views ongoing job growth and evidence of rising wages as being... [Read more]
U.S. business spending mired in weakness, but economy picking up
U.S. business spending intentions weakened in April for a third straight month amid soft demand for machinery, but a surge in contracts to purchase previously owned homes to a 10-year… Go here to read the rest: U.S. business spending mired in weakness, but economy picking up Read More →
EU regulators clear $100 billion-plus AB InBev, SABMiller deal
The world's largest brewer Anheuser-Busch InBev gained EU antitrust approval on Tuesday for its $100 billion-plus acquisition of SABMiller on condition it sell almost the whole of SABMiller's beer business in Europe. Reuters was the first to report that AB InBev's concessions to sell substantial assets would secure the EU green light for one of the largest corporate… Read the... [Read more]
Exclusive: Sanofi to unveil challenge to Medivation’s board – sources
France's Sanofi SA is preparing to name candidates it will put forward to replace the entire board of U.S. cancer drug company Medivation Inc as early as Wednesday, according to people familiar with the matter. Sanofi has threatened to oust the board after Medivation rejected its unsolicited $9.3 billion acquisition offer late last month, taking advantage of a so-called 'written consent'... [Read more]
Exclusive: Sanofi to unveil challenge to Medivation’s board – sources
France's Sanofi SA is preparing to name candidates it will put forward to replace the entire board of U.S. cancer drug company Medivation Inc as early as Wednesday, according to people familiar with the matter. Sanofi has threatened to oust the board after Medivation rejected its unsolicited $9.3 billion acquisition offer late last month, taking advantage of a so-called 'written consent'... [Read more]
Asian shares gain, dollar firm as US data soothes rate fears
By Hideyuki Sano and Nichola Saminather TOKYO/SINGAPORE (Reuters) – Asian shares jumped on Wednesday while the dollar firmed as upbeat U.S. home sales supported the view that the economy may be strong enough for the Federal Reserve to raise interest rates in coming months. Europe was also poised for a strong open, with financial spreadbetters expecting Britain's FTSE 100 to open up 0.9... [Read more]
VW board tried to dilute Lower Saxony influence: Der Spiegel
FRANKFURT/HAMBURG (Reuters) – A power struggle erupted on Volkswagen's supervisory board after the owning Porsche and Piech families joined representatives from Qatar in what proved to be a failed attempt to Original post: VW board tried to dilute Lower Saxony influence: Der Spiegel Read More →