Comcast demonstrates Sky-high ambition in global media shake-up
U.S. cable giant Comcast scored a big win in the scramble for media assets by beating Rupert Murdoch, and his backer Disney, in the battle for Sky with an eye-watering $40 billion bid.
Source: Reuters Business News
Low interest rates spawn rise in number of zombie firms: BIS
Decades of falling interest rates have led to a sharp increase in the number of “zombie” firms, a report for the Bank for International Settlements said, potentially threatening economic growth and preventing interest rates from rising.
Source: Reuters Business News
Siemens CEO pushes plans to boost Iraqi power infrastructure
Siemens said its boss Joe Kaeser met Iraq’s prime minister on Sunday to discuss a proposal by the German company to expand the Middle East nation’s power production.
Source: Reuters Business News
Volkswagen's Porsche drops diesel in electric car push
Volkswagen’s Porsche will stop offering diesel versions of its cars, the unit said on Sunday, sharpening its focus on hybrid and battery-powered vehicles instead.
Source: Reuters Business News
Fed's Powell between a rock and hard place: Ignore the yield curve or tight job market?
Unemployment near a 20-year low screams at the U.S. Federal Reserve to raise interest rates or risk a too-hot economy. The bond market, not far from a state that typically precedes a recession, says not so fast.
Source: Reuters Business News
Comcast outbids Fox with $39 billion offer for Sky in auction
Comcast beat Rupert Murdoch’s Twenty-First Century Fox in the battle for Sky after offering around 30 billion pounds ($39 billion) for the British broadcaster in a rare auction to decide the fate of the pay-television group.
Source: Reuters Business News
U.S. airlines score win as Congress drops 'reasonable fee' rules
The U.S. airline industry scored a win on Saturday as bipartisan congressional legislation dropped plans to mandate “reasonable and proportional” baggage and change fees, but included other new passenger protections.
Source: Reuters Business News
BT approaches Worldpay's Philip Jansen to be new CEO: Sky News
BT Group is in advanced talks to appoint payment technology provider Worldpay’s outgoing co-chief executive Philip Jansen as its new CEO, Sky News reported on Saturday.
Source: Reuters Business News
Volume spikes on sector reshuffle, quadruple witching
An overhaul of Wall Street’s technology and media sectors coincided with the quarterly expiration of futures and options, bringing a burst of volume to trading late on Friday that could continue in the days that follow.
Source: Reuters Business News
Adviser says U.S. close to Mexico-only NAFTA deal, Canada unmoved
The United States is getting “very, very close” to having to move forward on its trade deal with Mexico without Canada, White House economic adviser Kevin Hassett said on Friday.
Source: Reuters Business News