FCC raises concerns about Sinclair-Tribune deal, shares fall
Federal Communications Commission Chairman Ajit Pai questioned Sinclair Broadcast Group Inc’s proposed $3.9 billion acquisition of Tribune Media Co , in a surprise decision that could potentially scuttle the deal and sent shares of both companies tumbling.
Exclusive: Brazil to delay auction for five of six Eletrobras distributors
Brazil’s government will go ahead with the auction of one of state-owned utility Eletrobras’ power distributors planned for July 26, while delaying five others to Aug. 30, Planning Minister Esteves Colnago told Reuters on Monday.
Tesla shares fall 3.5 percent after CEO Musk abuses British diver
Shares of Tesla Inc fell 3.5 percent on Monday after Chief Executive Elon Musk directed abuse on Twitter at one of the British cave divers involved in the rescue of 12 Thai children last week.
Thyssenkrupp in leadership turmoil as chairman quits
The chairman of Germany’s Thyssenkrupp has resigned, following the company’s chief executive under pressure from activist shareholders demanding a radical restructuring of the embattled industrial conglomerate.
Britain unveils fighter jet model to rival Franco-German program
Britain unveiled a model of a sleek proposed fighter jet named Tempest on Monday, raising questions about the future of European defense cooperation, given that Germany and France launched their own fighter jet program a year ago.
Oil tumbles, weighs on energy shares; bank stocks rise
Oil prices dropped about 5 percent on Monday, putting pressure on energy shares and keeping global stock markets in check, although financial shares rallied after upbeat news from Bank of America and Deutsche Bank.
FCC has enough votes for Sinclair draft order: official
The Federal Communications Commission has the three votes needed to approve a draft order sending Sinclair Broadcast Group Inc’s proposed $3.9 billion acquisition of Tribune Media Co to an administrative hearing, an official said on Monday.
Pratt & Whitney promises to meet engine production demands
United Technologies Corp Chief Executive Greg Hayes said on Monday his company’s Pratt & Whitney unit will be able to overcome supply chain problems to ramp up engine production next year as planemakers’ orders swell.
Exclusive: FCC order says Sinclair request on Tribune may ‘involve deception’
A draft Federal Communications Commission order seen by Reuters on Monday said that Sinclair Broadcast Group Inc’s application for approval to purchase Tribune Media Co may “involve deception.”
Strong U.S. retail sales lift second-quarter GDP estimates
U.S. retail sales rose solidly in June as households boosted purchases of automobiles and a range of other goods, cementing expectations for robust economic growth in the second quarter.
