Wednesday 27 June 2018

U.S. gives Disney approval to buy Fox amid bidding war with Comcast

U.S. gives Disney approval to buy Fox amid bidding war with Comcast

WASHINGTON (Reuters) - Walt Disney Co won U.S. approval to buy Twenty-First Century Fox Inc entertainment assets for $71.3 billion on condition it sell Fox's 22 regional sports networks, the Justice Department said on Wednesday, giving Disney an edge over Comcast Corp's competing bid.

Wall Street tumbles on renewed U.S.-China trade jitters

NEW YORK (Reuters) - U.S. stocks fell on Wednesday on renewed uncertainty regarding the U.S. stance on Chinese investments in American technology companies, reversing gains earlier in the session.

Automakers warn U.S. tariffs will cost hundreds of thousands of jobs, hike prices

WASHINGTON (Reuters) - Two major auto trade groups on Wednesday warned the Trump administration that imposing up to 25 percent tariffs on imported vehicles would cost hundreds of thousands of auto jobs, dramatically hike prices on vehicles and threaten industry spending on self-driving cars.

Conagra to buy Pinnacle for $8.1 billion, creating frozen food powerhouse

(Reuters) - Conagra Brands Inc said on Wednesday it would buy Pinnacle Foods Inc for about $8.1 billion, trying to grab a bigger share of the fast-growing snack and frozen food markets amid fierce competition in the packaged food industry.

Apple, Samsung settle U.S. patent dispute

(Reuters) - Apple Inc and Samsung Electronics Co Ltd on Wednesday settled a seven-year patent dispute over Apple's allegations that Samsung violated its patents by "slavishly" copying the design of the iPhone.

Lyft valued at $15 billion in latest funding round

(Reuters) - Lyft Inc said on Wednesday it raised $600 million in a new funding round led by Fidelity Management, doubling the ride-hailing firm's valuation to $15.1 billion in little over a year.

Boeing's engine proposal deadline looms for new mid-market jet: report

SEATTLE (Reuters) - Three of the largest engine makers face a Wednesday deadline to provide Boeing Co with formal proposals for how they would power the planemaker's possible new mid-market jet, an aviation magazine reported.

Trump to use U.S. security review panel to curb China tech investments

WASHINGTON (Reuters) - U.S. President Donald Trump said on Wednesday he will use a strengthened national security review process to thwart Chinese acquisitions of sensitive American technologies, a softer approach than imposing China-specific investment restrictions.

Equifax agrees to toughen cyber-defenses in agreement with states

WASHINGTON (Reuters) - Equifax Inc agreed on Wednesday to do more to protect consumer data in a deal with banking regulators from seven states who investigated its security practices following a cyber attack last year that exposed data on more than 143 million people. Equifax agreed to review its defenses against hackers and to give its board of directors more responsibility for protecting consumers.

U.S. business spending on equipment cooling; trade gap narrowing

WASHINGTON (Reuters) - New orders for U.S.-made capital goods and shipments unexpectedly fell in May, but upward revisions to data for the prior month pointed to moderate growth in business spending on equipment in the second quarter.

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Conagra to buy Pinnacle for $8.1 bln

Ken Moraif of Money Matters.

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