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Verizon emerges as front-runner in Yahoo auction: sources
Yahoo Inc is focusing on U.S. telecommunications company Verizon Communications Inc as the buyer of its core business after reviewing final bids that it received this week, people familiar with the matter said on Friday. A deal would boost Verizon's AOL internet business, which the company acquired last year for $4.4 billion, by giving it access to Yahoo's advertising technology tools, as... [Read more]
GM recalling nearly 290,000 U.S. cars for air bag defect
WASHINGTON (Reuters) – General Motors Co said Thursday it is recalling nearly 290,000 older Chevrolet Impala cars in the United States because the air bag may not deploy in the event of the crash. The largest U.S. automaker said the front passenger seat frame in the 2009 and 2010 model Impala cars may rub against and damage electrical wires, which could cause the airbag fuse to short. Dealers... [Read more]
Three U.S. states sue Volkswagen, say executives covered up diesel cheating
By David Shepardson WASHINGTON (Reuters) – Senior executives at Volkswagen AG including its former chief executive covered up evidence that the German automaker had cheated on U.S. diesel emissions tests for years, three U.S. states charged on Tuesday in civil lawsuits against the company. New… Read the rest here: Three U.S. states sue Volkswagen, say executives covered up diesel cheating Read More →
Fox News, Ailes in negotiations over his exit: source
Roger Ailes, who built Fox News into a profitable ratings powerhouse, and Twenty-First Century Fox Inc are in negotiations over his departure from the cable news channel following allegations of sexual harassment, a person briefed on the discussions said Tuesday. A Fox statement said a legal review into the accusations was ongoing and that Ailes was working. Ailes' attorney, Susan Estrich, told... [Read more]
Oil prices largely unchanged as market shrugs off Turkey coup bid
Oil prices were largely unchanged on Monday as traders shrugged off the impact of the attempted coup in Turkey, while disruptions to crude exports in Libya and upbeat U.S. economic data lent prices some support. “The market is looking past the coup,” Go here to see the original: Oil prices largely unchanged as market shrugs off Turkey coup bid Read More →
Exclusive: U.S. and Chinese labor groups collaborated before China Wal-Mart strikes
OUR Walmart, the American worker group, has taken the unusual step of collaborating with a group of Chinese Wal-Mart workers trying to fight work schedule changes and low wages. “They asked for our support,” said Cantare Davunt, OUR Wal-Mart's leader from Minnesota, who participated in the Skype call. The U.S. organization is keen to maintain the relationship with the WCWA and believes... [Read more]
Herbalife settles pyramid scheme case with regulator, in blow to Pershing’s Ackman
By Diane Bartz and Michael Flaherty WASHINGTON/NEW YORK (Reuters) – Herbalife Ltd agreed to pay $200 million and change the way it does business to avoid being labeled a pyramid scheme by regulators, a blow to hedge fund manager Bill Ackman who for years has been betting against the dietary supplements maker. Shares of Herbalife jumped more than 20 percent after the settlement was made public... [Read more]
Oil falls on persistent glut fears, China data supports
By Ron Bousso LONDON (Reuters) – Crude futures dipped below $47 a barrel on Friday on concerns that a persistent global glut of crude oil and refined products will impede any price recovery. U.S. West Texas Intermediate (WTI) futures were down 50 cents at $45.18 a barrel. While the price collapse over the past two years has led to Read more: Oil falls on persistent glut fears, China data supports Read More →
Federal Reserve policymakers signal no rush to raise U.S. rates
Three Federal Reserve policymakers on Thursday expressed the view that there was no hurry to raise U.S. interest rates in the wake of the UK decision to leave the European Union, despite signs that the U.S. economy is near full employment. Ahead of the next Fed policy meeting on July 26-27, a core group are now happy to keep interest rates unchanged, potentially for months, whereas just… View... [Read more]
No more Tesla buyback guarantee as company cuts prices again
Tesla Motors Inc said on Wednesday it had discontinued its resale value guarantee program that assured buyers that cars would retain value over time, and lowered the starting price of its Model X crossover, the second time it has lowered prices this … View original here: No more Tesla buyback guarantee as company cuts prices again Read More →