Wall Street posts worst week since June with Fed in mind
NEW YORK (Reuters) – Stocks fell on Friday and posted their biggest weekly decline since June as investors focused on when the Federal Reserve would begin to scale back its stimulus.
Samsung Electronics infringes Apple patents: U.S. trade panel
WASHINGTON (Reuters) – A U.S. trade panel on Friday ruled that South Korea’s Samsung Electronics Co Ltd infringes on portions of two Apple Inc patents on digital mobile devices, a decision likely to inflame passions in the long-running dispute.
Time Warner-CBS blackout reaches eighth day, viewers to miss golf major
(Reuters) – More than 3 million Time Warner Cable customers in New York, Los Angeles and Dallas will be blocked from watching golf’s Major Championship and other popular shows this weekend if the cable company fails to reach an agreement with CBS to en…
Harbinger sues Deere and GPS companies for $1.9 billion in damages
NEW YORK (Reuters) – Philip Falcone’s Harbinger Capital on Friday sued agricultural equipment maker Deere & Co and Global Positioning System companies and groups for damages of $1.9 billion as it looks to recoup its investment in bankrupt wireless company LightSquared.
America Movil makes $9.6 billion bid for rest of KPN
MEXICO CITY/LONDON (Reuters) – Mexican billionaire Carlos Slim’s America Movil defied arch-rival Telefonica with a 7.2 billion euro ($9.6 billion) bid for the 70 percent of Dutch telecoms group KPN that it does not already own.
U.S. Postal Service loss narrows on cost cutting
WASHINGTON (Reuters) – The financially troubled U.S. Postal Service lost $740 million in its third quarter that ended June 30, far less than the $5.2 billion loss posted in the same period a year ago, as it aggressively cut costs, the agency said on Fr…
Harbinger sues Deere and GPS companies for $1.9 billion in damages
NEW YORK (Reuters) – Philip Falcone’s Harbinger Capital on Friday sued agricultural equipment maker Deere & Co and Global Positioning System companies and groups for damages of $1.9 billion as it looks to recoup its investment in bankrupt wireless company LightSquared.
Perry Capital to ask J.C. Penney board to replace Ullman: CNBC
NEW YORK (Reuters) – Perry Capital LLC will ask the board of J.C. Penney to replace its interim chief executive, Mike Ullman, CNBC reported on Friday, citing sources familiar with the matter.
After nine years, Tesco gives up on cracking China alone
HONG KONG/LONDON (Reuters) – After nine years in China, British supermarket firm Tesco is to fold its unprofitable operation into a state-run company as a minority partner, becoming the latest foreign retailer to give up on trying to crack China on its…
U.S. wholesale inventories fall for second straight month
WASHINGTON (Reuters) – U.S. wholesale inventories unexpectedly fell for a second straight month in June, prompting economists to trim their second-quarter economic growth estimates.
