U.S. Steel and the Japanese firm that had sought to acquire it are suing the Biden administration after the president announced he was blocking a proposed deal for the iconic American manufacturer. U.S. Steel and Japan’s Nippon Steel said in a release Monday that President Joe Biden ‘ignored the rule of law’ to gain favor with United Steelworkers, the union ...
Federal Trade Commission Chair Lina Khan said Tuesday she hopes the incoming Trump administration will not let Amazon and Facebook parent Meta off the hook from pending antitrust lawsuits by her agency with a “sweetheart deal.” But, “I can’t predict what future people in my position are going to do,” Khan said on CNBC’s “Squawk Box.” Khan’s comments come as Amazon chairman Jeff Bezos and Meta CEO Mark Zuckerberg have ...
Many small businesses are breathing a bit easier as inflation has cooled and the race for workers slows. But consumers’ steady embrace of credit cards is taking a growing bite out of their margins. Gene-Christian Baca, the owner of Walter’s Hot Dogs in Mamaroneck and White Plains, New York, estimated that he now pays $50,000 a year in costs associated ...
President Joe Biden said Friday that he has decided to block a $15 billion takeover of U.S. Steel by the Japanese company Nippon Steel, capping off a yearlong business saga that drifted into election politics. A national security review by a Treasury Department committee failed to reach a consensus on the deal last month and deferred the final decision to the president. ...
Disney will combine its Hulu+ Live TV service with Fubo, merging together two internet TV bundles, the companies announced on Monday. Disney will become majority owner of the resulting company — the publicly traded Fubo company — with a 70% ownership stake. Fubo shareholders will own the remaining 30% of the company. The deal is expected to close in 12 to 18 ...
Vail Resorts shares have dropped in recent weeks as a labor dispute roiled one of America’s most prominent skiing destinations. The Park City Professional Ski Patrol Association, a union representing patrollers at the Utah mountain of the same name, went on strike late last month. The work stoppage has spurred complaints of long lines, closures and delays on social media from ...
An online car rental service is under scrutiny after it was used in two incidents Wednesday. The platform, Turo, is known as an “Airbnb of cars,” as it allows individual car owners to rent out their vehicles. Vehicle owners, known as “hosts,” can post cars to Turo’s website, where people can then rent them, with payments made through the platform. ...
Accident investigators are trying to figure out what caused a Jeju Air flight to belly land without its landing gear down at Muan International Airport in South Korea, killing all but two of the 181 people on board as it burst into flames in the nation’s worst air disaster in decades. South Korea’s acting President Choi Sang-mok ordered an emergency inspection of the ...
Google’s blowout earnings report in April, which sparked the biggest rally in Alphabet shares since 2015 and pushed its market cap past $2 trillion for the first time, tempered fear that the company was falling behind in artificial intelligence. As executives enthusiastically talked about the results with Google’s employees at an all-hands meeting the following week, it was clear that Wall Street viewed things differently than ...
The advertising market has positive momentum going into 2025 — especially for media companies with sports rights and tentpole live programming. Sports and live events such as awards shows reigned supreme in conversations with media executives who weighed in on their expectations for the advertising market in the year ahead. The end of the uncertainty surrounding the election has helped ...