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Time Inc explores bid for Yahoo’s core business: source
Time Inc , publisher of Sports Illustrated, People and Time magazines, has been exploring a bid to acquire Yahoo Inc's core Internet business for several weeks, a source familiar with the situation told Reuters on Tuesday. Time Inc has been reaching out to … Excerpt from: Time Inc explores bid for Yahoo’s core business: source Read More →
Western Digital investor Alken pushes to cancel SanDisk deal
Western Digital agreed to buy SanDisk in a $19 billion deal in October to help increase its ability to make flash memory storage chips used in smartphones and tablets. The London-based investment manager, Alken Asset, said weakness in the storage chip market has hurt Sandisk's stock price which in turn will hurt Western Digital if the deal goes through. “The price being paid for SanDisk... [Read more]
Saudi oil minister to face rival U.S. producers as price rout bites
This week, Saudi Oil Minister Ali Al-Naimi will for the first time face the victims of his decision to keep oil pumps flowing despite a global glut: U.S. shale oil producers struggling … Read more from the original source: Saudi oil minister to face rival U.S. producers as price rout bites Read More →
S&P warns it may cut Icahn Enterprises to junk status, stock falls
By Svea Herbst-Bayliss BOSTON (Reuters) – U.S. ratings agency Standard & Poor's warned on Friday it may cut the credit rating of billionaire investor Carl Icahn's Icahn Enterprises to junk status after the portfolio absorbed heavy commodity sector losses in the last few months. S&P placed its triple-B-minus issuer credit rating and senior unsecured debt rating of Icahn Enterprises... [Read more]
Boeing engineers overwhelmingly back new labor contracts
More than 70 percent of voters backed the agreements for two bargaining units of the Society of Professional Engineering Employees in Aerospace (SPEEA) that cover 20,100 workers, the union said. Professional workers voted 6,085 to accept and 2,460 to reject, while technical workers voted 2,825 to accept and 1,030 to reject, the union said. Boeing agreed to pay 15 percent more than the national average... [Read more]
Pratt & Whitney, VietJet sign $3 billion engine deal
Engine manufacturer Pratt & Whitney has signed a $3.04 billion contract to sell engines to budget airline VietJet Air for Airbus aircraft, the airline said in a statement. The engines will be installed on 63 A320 and A321 planes ordered by VietJet under the contract signed at the Singapore Airshow, Vietnam's first privately owned carrier said in the statement issued late on Wednesday. The... [Read more]
In switch, Bullard warns against rate hikes, suggesting Fed’s direction
One of the U.S. Federal Reserve's most prominent advocates of higher interest rates on Wednesday declared it “unwise” to move any further in light of weak inflation and global volatility, suggesting the Fed is stepping further away from plans to continue to hike rates. St. Louis Fed President James Bullard argued steadily last year for the U.S. central bank to tighten policy and sounded... [Read more]
Greek PM says differences between lenders delaying bailout review: paper
Greek Prime Minister Alexis Tsipras said on Saturday that differences between the country's international lenders over its pension reform plans are delaying the first review of its latest financial bailout. The government has faced widespread protests over its reform plans however, as austerity-weary Greeks push back against yet more cuts to the country's welfare system. “There are... [Read more]
Tougher lending standards pose risk to outlook for Fed
A recent tightening of credit for U.S. companies is threatening to undermine economic growth, making it less likely the Federal Reserve will raise interest rates anytime soon. Fed Chair Janet Yellen … Here is the original: Tougher lending standards pose risk to outlook for Fed Read More →
China Lunar New Year holiday retail sales up 11.2 percent year-on-year
BEIJING (Reuters) – China's retail sales grew 11.2 percent during the week-long Lunar New Year vacation compared with the same holiday period last year, Ministry of Commerce data showed on Saturday. Go here to read the rest: China Lunar New Year holiday retail sales up 11.2 percent year-on-year Read More →