Verizon to acquire 24.5% stake in AwesomenessTV and launch premium mobile video brand
Verizon has agreed to buy a 24.5% stake in AwesomenessTV and plans to form a premium mobile video brand.The deal, which was announced Wednesday, would value the online video startup at $650 million. DreamWorks Animation, which acquired AwesomenessTV in 2013, will remain the company's majority stakeholder with 51%. Media giant Hearst Corp. will own the remaining 24.5%. AwesomenessTV founder and CEO Brian Robbins and AwesomenessTV President Brett Bouttier will continue to lead the company. Awesom..>> view originalAngola to Seek IMF Aid to Cope with Looming Financial Crisis
Angola will turn to the International Monetary Fund for a bailout to help cope with the oil-price rout that has hit its economy hard, joining a growing list of commodity-dependent African economies seeking assistance from the institution to weather the adverse economic climate. The announcement represents an about-face for a government that had previously rejected the idea of seeking IMF assistance and ends months of speculation over...>> view originalReactions to the Labor Department's Fiduciary Rule
The Labor Department announced new rules Wednesday that are expected to have a big effect on how Americans save for retirement. The regulation extends to individual retirement accounts a revamped version of the “fiduciary” standard that governs corporate retirement plans like 401(k)s. Advisers generally will have to act in the best interest of their clients when providing investment guidance. Previously, brokers’ recommendations were...>> view originalHealth-Care Companies Lead US Stocks Higher
Updated April 6, 2016 4:04 p.m. ET Health-care companies led U.S. stocks higher Wednesday, putting major U.S. indexes on track to snap a two-day losing streak. Stocks have wavered in recent sessions after surging from their Feb. 11 lows, and many investors say they are waiting for first-quarter earnings results to get a sense of whether the rally has more room to run. “There are a lot of bullish and bearish forces colliding right now, but they’re not colliding in a violent way,..>> view originalWhy Parental Leave Policies Are Changing
Photo Scott Wiener, a member of San Francisco’s Board of Supervisors, left, with Alphonzo Jackson and his six-month-old son Isaiah before a news conference on Tuesday. Credit Jim Wilson/The New York Times A news article posted on Tuesday, San Francisco Approves Fully Paid Parental Leave, by Thomas Fuller, described a groundbreaking law that will give parents six weeks of fully paid leave when they have a new baby. Readers responded vigorously on Facebook, some to applau..>> view originalFed signals caution on rate hikes, worried by global growth: minutes
WASHINGTON The Federal Reserve appears unlikely to raise interest rates before June amid widespread concern at the U.S. central bank over its limited ability to counter the blow of a global economic slowdown, minutes from the Fed's March 15-16 policy meeting suggest.The minutes released on Wednesday showed policymakers debated whether they might hike rates in April but "a number" of them argued headwinds to growth would probably persist, with many arguing they should be cautious about raising ..>> view originalNew Inversion Rules Draw Concerns Outside US
The U.S. Treasury Department’s new curbs on inversions have scuttled the $150 billion merger of Pfizer Inc. and Allergan PLC. But in seeking to eliminate a tax benefit for companies that use inversions to dodge the high U.S. corporate tax, the government has also swept up foreign companies with ordinary U.S. businesses. Currently, foreign companies can deduct intercompany interest payments made by their U.S. subsidiaries against the 35% U.S. corporate tax rate, in a maneuver that can effective..>> view originalFiat Chrysler to lay off 1300 at Chrysler 200 plant
The cutbacks at the Sterling Heights plant reflect a larger trend of declining sales of passenger cars in the U.S.An assembly line worker builds a 2015 Chrysler 200 automobile at the Sterling Heights Assembly Plant in Sterling Heights, Mich., Friday, March 14, 2014.(Photo: Paul Sancya, AP)Fiat Chrysler Automobiles said today it will lay off about 1,300 workers at its Sterling Heights Assembly Plant as it cuts back on production of its poor-selling Chrysler 200 midsize sedan, amid growing U.S. de..>> view originalUS sues to block Halliburton-Baker Hughes deal, says anti-competitive
WASHINGTON/HOUSTON The U.S. government filed a lawsuit on Wednesday to stop Halliburton Co (HAL.N) from buying Baker Hughes Inc (BHI.N), arguing the combination of the No. 2 and No. 3 oil services companies would lead to higher prices in the sector.The move, which comes after months of talks on divestitures of some overlapping businesses, significantly cuts the chances of the deal going through, although Halliburton said it would "vigorously contest" the lawsuit. The Justice Department said t..>> view originalFAA panel unveils proposals for flying drones over crowds
A Federal Aviation Administration panel on Wednesday unveiled highly anticipated safety recommendations for flying small commercial drones over crowds, setting the stage for final regulations on the issue.The Micro Unmanned Aircraft Systems Aviation Rulemaking Committee suggests that micro drones weighing less than a half pound can fly over crowds with very limited restrictions because they have a less than a 1 percent chance of causing serious injuries.Drones over half a pound but under 55 poun..>> view original
Wednesday, April 6, 2016
Verizon to acquire 24.5% stake in AwesomenessTV and launch premium mobile video brand and other top stories.
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