11 Jun
Coast Guard: Yacht explosion may be a hoax
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Breaking News- Dish abandons Sprint bid for now to focus on ClearwireBy Sinead Carew NEW YORK (Reuters) - Dish Network Corp said it would not make a new offer to buy No. 3 U.S. wireless provider Sprint Nextel in time for a Tuesday deadline and would instead focus on its tender offer for Clearwire Corp. The decision may be good news for Japan's SoftBank Corp, which is also trying to buy Sprint. A purchase by SoftBank could provide Sprint with access to more capital that it could use to beef up its network and compete better. ...
- Vodafone raises Kabel Deutschland offer after rival bid: report(Reuters) - Britain's Vodafone Group Plc has raised its preliminary offer to buy Germany's largest cable operator, Kabel Deutschland Holding AG, a day after U.S. media group Liberty Global Plc made a rival bid, Bloomberg reported on Tuesday, citing people familiar with the bid. Bloomberg reported that Vodafone told Kabel Deutschland this week that it would be willing to pay 85 euros a share compared with its initial offer of 80 euros to 82 euros for the German company. Vodafone is said to be studying Kabel Duetschland's books before making an official offer, Bloomberg said. ...
- Wall St. extends rise, investors see no change in Fed policyBy Ryan Vlastelica NEW YORK (Reuters) - Stocks advanced for a second straight day on Tuesday as investors bet the Federal Reserve would temper statements which were interpreted to mean a sooner-than-expected winding down of stimulus efforts. Strong market breadth showed an increased appetite for equities, but trading volume was light, a sign that many market participants were taking a wait-and-see attitude. The Fed's two-day policy meeting started Tuesday, and traders are trying to guess its timeline for scaling back purchases of $85 billion per month of bonds. ...
- Adobe expects third-quarter Creative Cloud subscriber adds to exceed second-quarterBy Sruthi Ramakrishnan (Reuters) - Adobe Systems Inc, known for its Photoshop and Acrobat software, reported a higher-than-expected adjusted second-quarter profit and said demand rose for Creative Cloud, the subscription-based version of its flagship software package. The company said it expects the number of paid subscribers for Creative Cloud in the current quarter to top the 221,000 subscribers who signed up in the second quarter, increasing the total to 700,000. The company added 153,000 subscribers in the first quarter. ...
- Kodak prepares $406 million offering as it eyes bankruptcy exit(Reuters) - Eastman Kodak Co on Tuesday said it will seek court approval for a $406 million rights offering that could give creditors a big equity stake in the company after it emerges from Chapter 11 bankruptcy protection. Kodak said creditors agreed to backstop an offering that would let the Rochester, New York-based company issue 34 million common shares at $11.94 each, equal to about 85 percent of the equity of a reorganized company. ...
- Google challenges surveillance court on First Amendment groundsSEATTLE (Reuters) - Google Inc asked the U.S. Foreign Intelligence Surveillance Court on Tuesday to allow it to publish aggregate numbers of national security requests it receives separately from criminal requests, on First Amendment grounds. In its filing, Google requested the court to allow it to publish the aggregate number of national security requests it receives, including disclosures under the Foreign Intelligence Surveillance Act (FISA), claiming it as part of its First Amendment right to free speech. ...
- GM aims for 10 percent of China's luxury car market by 2020SHANGHAI (Reuters) - General Motors Co aims to have 10 percent of China's luxury market by 2020, its China chief said on Wednesday. Bob Socia made the comment in a roundtable ahead of a ground breaking ceremony for GM's new Cadillac plant in the outskirts of Shanghai. (Reporting by Samuel Shen and Kazunori Takada; editing by Jonathan Standing)
- United Dreamliner diverted due to possible oil filter problemSEATTLE (Reuters) - United Airlines said on Tuesday that a Boeing Co 787 on its way to Tokyo from Denver was diverted to Seattle after an indication of a problem with an oil filter in an engine, but the plane landed without incident. The unscheduled diversion is the latest hiccup for Boeing's newest plane, which has been beset by problems and only recently returned to the skies after regulators grounded it worldwide due to trouble with its batteries. ...
- Icahn seeks Dell share buyback, buys Southeastern stock(Reuters) - Billionaire investor Carl Icahn promised Dell Inc shareholders that the company would buy back up to $16 billion of stock if they join his campaign to stop the computer maker from going private. Time is running out for Icahn. Next month, the company's shareholders will vote on whether to accept a $24.4 billion bid from the company's founder, Michael Dell, and private equity firm Silver Lake, and so far shareholders' reaction to two of Icahn's proposals has been mixed. Icahn has said repeatedly that Michael Dell's bid undervalues the company. ...
- U.S. lawmakers urge careful review of American-US Airways dealWASHINGTON (Reuters) - Two U.S. lawmakers with antitrust oversight have urged the Obama administration to carefully review a planned merger of American Airlines and US Airways Group to ensure that it will not lead to higher prices for air travelers. US Airways announced on February 14 that it planned to buy American Airlines parent AMR Corp, which is restructuring in bankruptcy court. The airlines are looking to complete the deal by the end of September. ...
- Dish abandons Sprint bid for now to focus on Clearwire
