Yet another recall at General Motors
General Motors is back in the news for recalling yet another round of vehicles. This time it is having customers return 2.4 million cars, right as the company continues to battle safety issues. Bill Vlasic and Christopher Jensen had this story for the New York Times: General Motors issued four new recalls on Tuesday, bringing […]
Credit Suisse pleads guilty to tax evasion
Credit Suisse is admitting it’s guilty of evading taxes. It’s a huge blow for large banks trying to stay out of government’s way. Ben Protess and Jessica Silver-Greenberg wrote for the New York Times that it was the first time in two decades that a bank is admitting guilt: Credit Suisse has done what no other huge […]
AT&T to spend $49 billion for DirecTV
AT&T solidified its purchase of DirecTV on Sunday, agreeing to pay $49 billion for the company, and giving it a lot of leverage with media companies. The Wall Street Journal story by Thomas Gryta and Shalini Ramachandran pointed out the deal follows the $45 billion Comcast/Time Warner deal: AT&T Inc. agreed to acquire DirecTV for $49 billion, a deal […]
Recovery in Europe likely to drag down economy
Europe continues to be a drag on the rest of the world’s economy while the U.S. and China aren’t helping matters much either given their slowing growth. Liz Alderman wrote for the New York Times that Europe’s growth is anemic and will likely continue to be a drag on the rest of the world: Despite […]
New chief at the New York Times
The New York Times unexpectedly ousted Executive Editor Jill Abramson, naming Dean Baquet to the top job. The move takes the top female in charge out of her job after less than three years and puts in the first African-American in the role. Bloomberg Businessweek had these details in a story by Edmund Lee: Baquet, […]
Fannie and Freddie to give homeowners more credit
Fannie Mae and Freddie Mac are going to get bigger. In a reversal, the government side the two mortgage lenders were going to extend more credit to homeowners instead of getting smaller. The Wall Street Journal story by Nick Timiraos and Deborah Solomon had these details: The Obama administration and federal regulators are reversing course […]
TV content deals are booming
The scramble for television content and who’s controlling it continues to heat up. There were several stories on Monday about deals in the works. Bloomberg reported in a story by Alex Sherman and Jeffrey McCracken that AT&T is close to acquiring DirecTV in a move that would give AT&T a national satellite-TV provider: AT&T Inc. […]
Pfizer defends AstraZeneca takeover
Pfizer is struggling to convince everyone that its merger with AstraZeneca is a good idea. Some are worried about jobs in the U.K., while others are worried about the role regulators are taking. The New York Times story by David Gelles had these details about the campaign to convince people the merger is a good […]
Omnicom calls off merger with Publicis
One of the biggest advertising mergers ever was called off on Thursday. Omnicom and Publicis said their $35 billion combination wasn’t going fast enough and they cited tax and other regulatory issues. The Wall Street Journal had these details in a story by Dana Mattioli, Ruth Bender and Suzanne Vranica. Advertising giants Omnicom Group Inc. and Publicis Groupe SA said […]
NBC pays up for Olympics
NBC will be the home of the Olympics for the foreseeable future. The network plans to pay almost $8 billion for the media rights for the next six Olympic games. The New York Times had these details in a story by Richard Sandomir: NBC Universal said Wednesday that it would pay $7.75 billion for the […]
