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The U.S. Supreme Court on Monday sided with American Express Co and against 11 states, ruling that the company's policy of forbidding merchants from encouraging customers to use rival credit cards with lower fees does not violate federal antitrust law. Handing American Express an important legal victory that validated a key component of its business model, the justices upheld a lower court decision that had cleared the company of unlawfully stifling competition through so-called anti-steering provisions in its contracts with merchants. Shares of American Express were up 2 percent after the ruling in midday trading.
NEW YORK/FRANKFURT (Reuters) - U.S. buyout group Advent agreed to buy General Electric Co's (GE.N) distributed power unit for $3.25 billion, the companies said on Monday, marking GE's exit from a growing segment of the power business. GE had put the unit, which makes Jenbacher and Waukesha brand reciprocating gas engines, up for sale as part of a three-year plan to exit about $20 billion in industrial assets. The sale, expected to close in the fourth quarter, highlights the growing demand for reciprocating engines by utilities, which pair them with wind and solar generators.
Jun.25 -- Matthew McLennan, head of global value team at First Eagle Investment, discusses General Electric's M&A strategy as the company agrees to sell its industrial gas-engine business to Advent International in a $3.25 billion deal. He speaks with Bloomberg's Vonnie Quinn on "Bloomberg Markets."
The shift in production is an unintended consequence of U.S. President Donald Trump's administration imposing tariffs on European steel and aluminum early this month, a move designed to protect U.S. jobs.
Carnival Corp. shares tumbled Monday after the cruise operator gave a weaker-than-expected outlook, citing growing fuel costs. The stock fell $6.11, or 9.6 percent, to $57.42 in morning trading. The lackluster ...
After making new all-time highs at $371.60 on June 6, shares of Boeing Co (NYSE:BA) have come back to earth, dropping nearly 9% in just the past few weeks. While some of the fears are justified, the bearish price reaction in BA stock is now getting decidedly overdone. In my previous analysis of Boeing from March 15, I highlighted some of the reasons why the selling was likely overdone.
Ibrance is Pfizer's blockbuster treatment and is already approved as a combination with endocrine therapy for use in breast cancer patients. Pfizer said on Monday the results demonstrated a positive trend in a ratio that helps determine to what extent a treatment can shorten the duration of an illness, but failed to reach statistical significance.
Traders in Tehran’s Grand Bazaar shut their stores to protest rising prices and the weakening of Iran’s currency, official news agencies reported, as Iranian officials took action to allay concerns that an economic crisis was looming. Retailers and gold sellers kept away from the bazaar to gather at main meeting places, according to the semi-official Fars News agency. Security forces were sent to the bazaar and surrounding areas to maintain order, the semi-official Iranian Labour News Agency reported.
PRESS RELEASE: NEW SINO-AFRICA PROJECT BOOSTS DEVELOPMENT BAMBOO FOR IMMEDIATE RELEASE A new project will help develop the bamboo sectors in a number of African countries, using experience from China. Beijing, China, 25 June 2018 (INBAR) – The International Fund for Agricultural Development (IFAD) and the International Bamboo and Rattan Organisation (INBAR) today launched a […]
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There are a number of reasons that attract investors towards large-cap companies such as Netflix Inc (NASDAQ:NFLX), with a market cap of US$178.70b. Doing business globally, large caps tend toRead More...