By Mike Scarcella (Reuters) – Cox Media Group LLC, Fox Corp and CBS Corp have agreed to pay a combined $48 million to resolve civil antitrust claims in U.S. Court that accuse them of a conspiracy to artificially fix the prices of spot advertising on broadcast television. Cox has agreed to pay $37 million to…
(Reuters) – A Fidelity fund has marked down the value of its stake in Twitter for the third time since Elon Musk’s $44 billion takeover of the social media platform in October, a monthly disclosure by the investment firm showed on Sunday. Fidelity Blue Chip Growth Fund’s stake in Twitter, which now exists under Musk’s…
By Jason Xue and Tom Westbrook SHANGHAI/SINGAPORE (Reuters) – The last great hope for China’s faltering post-pandemic rally is fading as the nation’s legion of small-time investors turns bearish on equities to double down instead on safer assets amid a stuttering economic recovery. Brokers and money managers had expected billions of yuan in excess savings…
By Lisandra Paraguassu and Anthony Boadle BRASILIA (Reuters) – Divergent views on Venezuela surfaced during a South American leaders’ summit on Tuesday hosted by Brazil’s President Luiz Inacio Lula da Silva as part of his efforts to unite the region’s development and give it a stronger voice internationally. Lula urged South America’s 12 countries to…
SEOUL (Reuters) – South Korea’s factory production and retail sales dropped in April, official data showed on Wednesday, indicating another tough quarter ahead after the economy narrowly averted a recession in the first quarter. The country’s factory output in April fell 1.2% from March, on a seasonally adjusted basis, coming in slightly softer than a…
By David Shepardson WASHINGTON (Reuters) – The U.S. government is closely scrutinizing exports to China and last year denied or took no action on a quarter of requests in order to stop sales that would advance Beijing’s militarization, a senior official said in testimony released on Tuesday. In 2022, 5,064 export and re-export license applications…
(Reuters) – Bank of Queensland Ltd said on Wednesday it had entered into separate undertakings with the country’s financial crime and prudential regulators to comply with anti-money laundering and counter-terrorism financing laws and address risk governance practices. The court-enforceable undertaking accepted by the Australian Prudential Regulation Authority (APRA) follows several breaches of prudential standards in…
By Chris Prentice (Reuters) – A former product manager for Coinbase Global Inc and his brother have agreed to settle U.S. Securities and Exchange Commission (SEC) charges related to insider trading of crypto asset securities. The SEC said Ishan Wahi and his brother, Nikhil Wahi, agreed to settle civil charges that they engaged in a…
By Suban Abdulla LONDON (Reuters) – Sentiment among British businesses fell for the first time in three months in May as firms were less optimistic about the economy and their trading prospects despite some signs of resilience in the economy, a survey showed on Wednesday. The Lloyds Bank Business Barometer fell to 28% in May…
By David Shepardson WASHINGTON (Reuters) – The White House said on Tuesday that President Joe Biden is withdrawing the nomination of the acting head of the National Highway Traffic Safety Administration (NHTSA) to take the top job on a permanent basis. The White House gave no reason for the move and declined to comment. Ann…
