Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Article excerpt

Comcast drops pursuit for Fox assets - Comcast said it dropped its pursuit of a group of media assets owned by Twenty-First Century Fox Inc. on Thursday and will focus on its offer for European pay-TV group Sky Plc.

Disney fended off Comcast's $66 billion all-cash challenge to its deal for the Fox assets last month by sweetening its offer to $71 billion in cash and stock. Time had run out for Comcast to come back with a new offer, with Fox shareholders scheduled to vote on the Disney deal on July 27.

The cable operator will now focus on its $34 billion offer to acquire 61 percent of Sky. Fox, which owns 39 percent of Sky, has been also seeking to acquire the majority stake.

Unemployed Americans reaches near 49-year low - The number of Americans filing for unemployment benefits unexpectedly fell last week, hitting its lowest level in nearly 49 years, as the labor market continues to strengthen.

Other data on Thursday showed manufacturing activity in the mid-Atlantic region accelerated in July, driven by a surge in new orders received by factories. But manufacturers reported paying more for inputs.

Initial claims for state unemployment benefits dropped 8,000 to a seasonally adjusted 207,000 for the week ended July 14, the lowest reading since early December 1969, the Labor Department said.

Economists had forecast claims rising to 220,000 in the latest week.

The second straight weekly decline in claims, however, likely reflects difficulties adjusting the data for seasonal fluctuations around this time of the year when motor vehicle manufacturers shut assembly lines for annual retooling.

The economy created 213,000 jobs in June, with the unemployment rate rising two-tenths of a percentage point to 4 percent as more Americans entered the labor force, in a sign of confidence in their job prospects.

EU preparing to hit back on car imports - The European Union says it is already preparing measures to retaliate against the United States if President Donald Trump puts tariffs on imported cars and auto parts. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.