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Fed signals no rush to hike rates as economy hits soft patch
The Federal Reserve left interest rates unchanged on Wednesday, but kept the door open to a hike in June while showing little sign it was in a hurry to tighten monetary policy amid an apparent slowdown in the U.S. economy. “The committee continues to closely monitor inflation indicators and global economic and financial developments,” the Fed said following a two-day meeting. Fed policymakers... [Read more]
Exclusive: Landry’s and Jefferies CEOs to launch acquisition company – sources
The SPAC will be called Landcadia, a combination of the names Landry's and Leucadia, and plans to raise as much as $300 million in an initial public offering (IPO), the people said. SPACs, also known as blank-check acquisition companies, have no assets but use IPO proceeds, together with bank financing, to buy other companies and boost their value through operational improvements. View post: Exclusive:... [Read more]
U.S. approves Charter’s Time Warner Cable buy with conditions
The U.S. Justice Department on Monday gave antitrust approval to Charter Communications Inc's proposed purchase of Time Warner Cable Inc and Bright House networks, which would create the second-largest U.S. broadband provider and third-largest video provider. The Justice Department's approval carried conditions designed to protect competition, coming at a time when the pay television industry... [Read more]
VW brand chief ‘confident’ of solving cost-cutting row with labor
Volkswagen's top brand executive is confident that management and labor will solve a dispute over cost-cutting at the core autos division and signaled readiness on Sunday to meet some of workers' demands. Volkswagen's (VW) powerful labor leaders earlier this … Original post: VW brand chief ‘confident’ of solving cost-cutting row with labor Read More →
Alphabet drops most in three years after first quarter but analysts upbeat
(Reuters) – Ruth Porat couldn't have been clearer: Alphabet Inc's chief financial officer said on Thursday that Google's parent needed to step up investment to boost traffic. Analysts agreed. The search giant&# See more here: Alphabet drops most in three years after first quarter but analysts upbeat Read More →
U.S. April auto sales seen rising 4.9 percent: JD Power-LMC
J.D. Power and LMC Automotive on Thursday said April U.S. total light vehicle sales will rise 4.9 percent to 1.523 million vehicles, for an annualized rate of 17.6 million vehicles. Retail sales, or sales to individual consumers, will rise 3.9 percent to 1.195 million vehicles in April, the consultancies said See the original post here: U.S. April auto sales seen rising 4.9 percent: JD Power-LMC Read More →
VW forges U.S. deal arising from diesel emissions scandal
By Alexandria Sage and David Shepardson SAN FRANCISCO/WASHINGTON (Reuters) – Volkswagen AG, driving to move beyond a scandal that has disrupted its global business and sullied its reputation, announced a sweeping… See original here: VW forges U.S. deal arising from diesel emissions scandal Read More →
Exclusive: Verizon set to make Yahoo’s bidder short list – sources
Verizon Communications Inc was set on Tuesday to advance to the second stage of bidding for Yahoo Inc's core assets, as the U.S. internet company went through offers to put together a short list, people familiar with the matter said. Verizon submitted its offer with advice from investment banks Guggenheim Partners LLC, LionTree Original post: Exclusive: Verizon set to make Yahoo’s bidder... [Read more]
Costco plans chicken plant in Nebraska: local council
The facility, if built in Nebraska's Dodge County, would create 1,100 jobs, work with local chicken farmers and invest $180 million in the region, the Greater Fremont Development Council said in a release dated April 14. Costco, the third-largest U.S. retailer, could not immediately be reached for comment. Read more: Costco plans chicken plant in Nebraska: local council Read More →
U.S. Treasury readies new tax rules as G20 vows to fight evasion
By David Lawder WASHINGTON (Reuters) – The U.S. Treasury Department is finalizing new tax rules aimed at combating the use of shell companies to evade taxes, U.S. Treasury Secretary Jack Lew said on Saturday amid increased pledges by global finance leaders to cooperate on tax issues. In a statement to the International Monetary Fund's steering committee, Lew said the Treasury was finalizing... [Read more]