AT&T says it will keep many Time Warner managers after takeover

Business / Business News /

When a media company buys another, the acquired firm's regime is usually shoved out the door. But AT&T's top executive says he plans to keep in place much of Time Warner's management team.

AT&T announced its $84.5 billion acquisition of Time Warner over the weekend, and the heads of both companies --Randall Stephenson of AT&T and Jeffrey Bewkes...Read more

Planned AT&T-Time Warner deal raises antitrust questions

Business / Business News /

AT&T and Time Warner came closer Saturday to announcing an $80 billion deal to combine the entertainment companies, but questions were already emerging over whether a bigger AT&T would be an entertainment colossus with too much power.

Republican presidential nominee Donald Trump said Saturday that his administration would block such an ...Read more

Trump says he would block an AT&T acquisition of Time Warner

Business / Business News /

GETTYSBURG, Pa. –– Donald Trump said he would block a purchase of Time Warner by AT&T, arguing that such combinations concentrate too much power among too few companies, including ones which have been hostile to his presidential candidacy.

Trump also suggested that he would favor a breakup of NBC and Comcast. Comcast bought NBC Universal in...Read more

Trump's brand takes a hit from video, sexual assault claims

Business / Business News /

WASHINGTON -- In the tradition of P.T. Barnum, an earlier showman-turned-politician who is credited with saying there's no such thing as bad publicity, Donald Trump may have thought he had nothing to lose in running for president.

Even a defeat might serve to raise his visibility and burnish a name brand that has become his most valuable asset....Read more

Trump attorneys seek to block testimony from LA Times columnist

Business / Business News /

LOS ANGELES -- Attorneys for Republican presidential candidate Donald J. Trump and Trump University are seeking to block Los Angeles Times consumer columnist David Lazarus from testifying in a class-action fraud case brought by former Trump University students.

In a motion filed Thursday in federal court in San Diego, Trump's attorneys argued ...Read more

NBCUniversal investing additional $200 million in BuzzFeed

Business / Business News /

NBCUniversal is doubling down on BuzzFeed.

The entertainment conglomerate owned by Comcast Corp. is investing an additional $200 million in the millennial-focused media company, according to a person with knowledge of the deal.

The investment, first reported by Recode, comes more than a year after NBCUniversal's initial investment of $200 ...Read more

Possible iPhone 7 fire prompts Apple investigation

Business / Business News /

Apple Inc. said it's looking into an Australian man's allegation that an iPhone 7 ignited and set ablaze the car he'd left it in while surfing.

Smartphones and other devices with lithium-ion batteries are known to be susceptible to fires in extreme conditions, so the lone incident is far from a sign of a widespread problem. But the massive ...Read more

Time Warner stock soars

Business / Business News /

Shares of Time Warner gained over 10.1 percent in morning trading Friday after a new report from Bloomberg indicated that telecommunications giant AT&T was in talks to take over the media company.

According to people familiar with the matter, AT&T and Time Warner executives have met in recent weeks to discuss a variety of potential new business...Read more

Time Warner stock surges following report of AT&T interest

Business / Business News /

Shares of media giant Time Warner Inc. jumped Friday morning following a report that telecommunications firm AT&T Inc. could purchase it as early as this weekend.

Time Warner's stock was up $7.55, or 9.1 percent, to $90.55 in early morning trading on Wall Street. Shares of AT&T were down $1.46, or 3.7 percent, to $37.20.

The Wall Street ...Read more

Bombardier plans to shed thousands of jobs through 2018

Business / Business News /

WICHITA, Kan. -- Bombardier will eliminate another 7,500 jobs across its aircraft and rail businesses through 2018, the Canadian company said Friday.

The actions are part of the Montreal-based company's five-year turnaround plan announced last year.

Those actions include streamlining its administrative and non-production functions company-wide...Read more

Cyberattack blocks users from Twitter, other sites

Business / Business News /

A massive cyberattack barred East Coast users from visiting Twitter, SoundCloud and other sites Friday morning by targeting a firm responsible for routing web traffic their way.

Dyn, a New Hampshire internet services company, reported the attack early Friday. Hours later, the company said service was back to normal. Dyn said the cause was a ...Read more

Beware election-themed email attacks, says hacking specialist

Business / Business News /

WASHINGTON -- Heading toward Election Day in the U.S., hackers may target your inbox instead of the ballot box.

It's difficult to alter overall ballot counts in the U.S., which doesn't have a centralized voting system, but hackers could take advantage of the Nov. 8 election to dupe people and gain access to their personal information, according...Read more

The Week Ahead: Struggling to make the economic grade

Business / Business News /

The gross domestic product, or GDP, report is like a student's GPA. And the American economic grade has been slipping.

In the week ahead, the first report card on the nation's economy during the third quarter will be released. It is expected to show a small pickup in the annual growth rate as compared to the second quarter, but still, 2 percent...Read more

Auto review: The Alfa Romeo 4C's faults make it an intoxicating, endearing ride

Business / Business News /

Want to buy a new car that's both exclusive and a bargain?

Alfa Romeo has your answer: the 4C Spider.

Where else can you buy a mid-engine, rear-wheel-drive sports car built with a carbon fiber monocoque tub for less than six figures? And, oh yea, it's powered by a direct-injected, intercooled, turbocharged 1.7-liter four-cylinder engine that's...Read more

In yet another giant media merger, AT&T may be trying to buy Time Warner Inc.

Business / Business News /

After its acquisition of satellite television service DirecTV, telephone giant AT&T Inc. might be setting its sights on an even bigger prize, Time Warner Inc.

Bloomberg News reported Thursday afternoon that AT&T and Time Warner executives have engaged in preliminary talks about a potential merger or other partnerships.

Time Warner shares ...Read more

New Teslas will have all the hardware to be driverless cars, Elon Musk says

Business / Business News /

SAN FRANCISCO -- Tesla announced this week that all cars produced today and going forward will be equipped with the necessary hardware to support fully autonomous driving -- including the upcoming Model 3.

The required hardware includes eight cameras that add up to 360-degree visibility, 12 updated ultrasonic sensors with added sensitivity, and...Read more

Senators push for more answers in Wells Fargo scandal

Business / Business News /

WASHINGTON -- Two senators are pressing Wells Fargo & Co. about how much new Chief Executive Timothy Sloan knew about the unauthorized-accounts scandal that led to his appointment.

Elizabeth Warren, D-Mass., and Robert Menendez, D-N.J., outspoken critics of Wells Fargo, also want to know more about how much money former Chief Executive John ...Read more

Alaska Air confident of completing Virgin America deal

Business / Business News /

SEATTLE -- Alaska Air Group chief executive Brad Tilden said Thursday he remains "very confident" the company's proposed $2.6 billion purchase of Virgin America will go through, despite a last-minute extension of an antitrust review by the U.S. Department of Justice.

"We were hoping to get this done a couple of weeks ago. We're not there quite ...Read more

Microsoft reports strong quarter; stock pushes to all-time highs in after-hours trading

Business / Business News /

SEATTLE -- Microsoft's quarterly earnings blew past investor expectations on Wednesday, fueled by growth in sales of server software and the company's range of cloud-computing offerings.

The report sent the software company's share price around all-time highs in after-hours trading.

Microsoft has invested billions of dollars in recent years to...Read more

Photographer, a former refugee, sues Trump over Skittles tweet

Business / Business News /

CHICAGO -- A British photographer and former child refugee has sued the Trump campaign for allegedly using his photo of a bowl of Skittles in a tweet against accepting Syrian refugees into the U.S.

David Kittos filed the copyright infringement suit this week in a Chicago federal court, naming as defendants the Trump campaign, Republican ...Read more