Comcast Merger-Worries
In this July 30, 2008 file photo illustration, a silhouetted coaxial cable is photographed with the Comcast Corp. logo in the background in Philadelphia. Staff attorneys at the Justice Department's antitrust division are nearing a recommendation to block Comcast's bid to buy Time Warner Cable, according to people familiar with the matter.
(Matt Rourke, Associated Press)
Stock market news:
The S&P 500 today posted its biggest percentage loss since March 25 as investors shunned risk amid new trading regulations in China, renewed worries about Greece running out of money and tepid U.S. corporate earnings. The Dow Jones industrial average fell 279.47 points to 17,826.30, the S&P 500 lost 23.81 points to 2,081.18 and the Nasdaq Composite dropped 75.98 points to 4,931.81. (Reuters)
European stocks dropped sharply today, pulling lower along with other global markets, with traders attributing the moves to changes in Chinese trading rules. (MarketWatch)
Oil prices faded, undoing a small rally today as traders showed skepticism that a surge of U.S. production is leveling off. (Wall Street Journal)
Business news:
Staff attorneys at the Justice Department's antitrust division are nearing a recommendation to block Comcast's bid to buy Time Warner Cable, according to people familiar with the matter. (Bloomberg News)
Mattel, the toy company behind the Barbie dolls, said there were some signs of improving demand for Barbie ahead of its planned makeover of the brand. (Associated Press)
Ford confirmed today it plans to invest $2.5 billion to build new engines and transmissions in Mexico and will eventually hire an additional 3,800 workers in a move that underscores a movement of automotive investment south from Canada and the U.S. (Detroit Free Press)
An emergency order requiring trains hauling crude oil and other flammable liquids to slow down as they pass through urban areas was announced today by the Department of Transportation, along with other measures to improve safety. (Associated Press)
The IRS wants $3.2 billion to cover back taxes that it says are owed by a prominent Texas businessman and his late brother who the IRS says hid income by setting up overseas trust funds. (Associated Press)
Generic drugmaker Mylan moved quickly today to pour cold water on published reports that Teva Pharmaceuticals Industries is considering a bid to acquire it. (Reuters)
Ukraine rejected the first proposal from a group of creditors led by Franklin Templeton, signaling it's ready to take a hard line in a bid to restructure $23 billion of debt. (Bloomberg News)
Technology news:
Apple shares have dropped $8.88 a share since peaking this year -- erasing $51.7 billion in market value in just weeks. (USA Today)
Microsoft today said it would flesh out its Office lineup this month by releasing previews of the productivity apps for Windows 10-powered phones. (Computerworld)
Mark Zuckerberg is defending Internet.org, the project to bring free Internet access to impoverished parts of the world. (Los Angeles Times)
Apple is planning a set of workshops to educate consumers on the user interface of the Apple Watch. (Daily Tech)