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Bloomberg Time Warner will get a new name under new owner AT&T Inc.: WarnerMedia. The business, which includes HBO, Turner Broadcasting and the Warner Bros. studio, was christened with the moniker in an internal memo obtained by Bloom-berg. As part of the changes, Turner Chief Executive Off-icer John Martin will be leaving the company — a widely expected move. AT&T ...
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June, 2018
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17 June
US factory output falls by most since 2014
Bloomberg US factory production fell in May by the most since January 2014, weighed down by fewer truck assemblies and still consistent with a steady outlook for manufacturing, Federal Reserve data showed. Factory output fell 0.7% (est. unchanged) after rising an upwardly revised 0.6%. Total industrial production, which also includes mines and utilities, decreased 0.1% (est. 0.2% rise) after an ...
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17 June
Fox board to weigh $65bn Comcast bid
Bloomberg Rupert Murdoch and the 21st Century Fox Inc. board will consider on Wednesday how to proceed with Comcast Corp.’s $65 billion bid for the company’s entertainment assets, people with knowledge of the matter said. The Fox board, which agreed to sell the assets to Walt Disney Co. last year, must decide whether Comcast’s proposal has a reasonable chance of ...
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17 June
Ford unit teams with startup to develop ‘Waze’ for self-driving cars
Bloomberg A slew of companies have sprung up to make the smarts, sensors and other integral systems for self-driving cars. Here comes one to tell these cars where to go. Startup RideOS said that it has raised $9 million led by venture firm Sequoia Capital and reached a partnership with a division of Ford Motor Co. Started by two former ...
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17 June
Don’t fear China’s industrial juggernaut
Washington is working up a sweat over China’s industrial policies. There are fears Beijing will build technology companies and advanced manufacturers capable of squashing American rivals by lavishing aid on favoured sectors. Many of the tariffs the US plans to impose are aimed at products generated by this state-led agenda, most of it under the “Made in China 2025†program. ...
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17 June
US companies are bringing cash home
For all the flaws of the tax reform that Congress passed back in December, there’s one area where it appears to be working: Getting US companies to bring back the enormous piles of money they have stashed abroad. Now the question is what they will do with it. Before 2018, the US government taxed companies’ foreign earnings in a highly ...
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17 June
It’s mission accomplished for the ECB, for now
The European Central Bank (ECB) has said it intends to end its bond-buying program at the end of this year. It was the right decision. The aim of the program was to stave off the threat of deflation, and that has been done. Nonetheless, risks remain, and the central bank can’t afford to ignore them. The euro-zone economy has come ...
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17 June
Crypto unicorns do battle while Bitcoin droops
The Hong Kong market is low-hanging fruit for shy but hungry unicorns. Bitmain Technologies Ltd., the world’s dominant producer of cryptocurrency-mining equipment, is mulling a public listing, founder Jihan Wu told Blake Schmidt of Bloomberg News. Giving early backers such as Sequoia Capital and IDG Capital an exit is a fine gesture, sure, but the four-year-old Chinese company is rushing ...
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17 June
Donald Trump’s G-7 crackup boosts China’s sway in Asia
If US President Donald Trump wanted to discredit the West, he could hardly be doing a more thorough job of it. The hostility he directed at ostensible allies in the G-7 was bad enough, especially when contrasted with the obsequious praise he lavished on North Korea’s murderous Kim Jong Un in Singapore. Worse perhaps was the visual contrast between the ...
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17 June
Citigroup outpaces its rivals in game of risk
When it comes to risky trading, Citigroup Inc. may have a reason to protest too much. At an analysts’ conference, Citigroup CFO John Gerspach was asked about a recent proposed change to the Volcker Rule — the Dodd-Frank regulation that limits banks’ ability to make market bets with their own capital. Gerspach said the change wouldn’t matter much to Citi, ...
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