Time Warner (TWX) has rejected a reportedly $80 billion bid from Rupert Murdoch's Twenty-First Century Fox, Fox says. After the news was announced, Time Warner (TWX) shares rose by 16 percent while Fox starts to trickle down.
Reynolds American will buy its rival, Lorillard Tobacco Company, for $25 billion, both companies said Tuesday. Reynolds American's purchase of Lorillard could spur a wave of consolidation in the tobacco business, shrink workforces, and push cigarettes prices higher.
Citigroup says it will pay $7 billion to settle the US government's mortgage-backed securities investigation. Citigroup says it would pay $4.5 billion in cash and provide $2.5 billion in consumer relief.
The US government ran a budget surplus of $71 billion in June, putting it on track toward the narrowest budget gap since 2008. Nine months into this budget year, the deficit runs at $366 billion, down 28 percent from this time in 2013.
American Apparel says it reached a deal for $25 million investment from Standard General to help American Apparel's finances. The money will also help pay American Apparel's loan from investment firm Lion Capital.
Germany defeated Brazil 7-1 in the World Cup semi-final on Tuesday, but Germany is also winning in the markets. Germany's equity, currency, and government bond markets have also been surpassing Brazil.
American Apparel received noticed from investment firm Lion Capital to pay back a $9.9 million loan. American Apparel is disputing Lion Capital's claim that American Apparel defaulted since ousting founder and CEO Dov Charney in June.
A Kickstarter campaign for a $10 batch of potato salad has raised nearly $60,000 since its launch by an Ohio software company owner last week. The proceeds from the Kickstarter campaign could go to fancier ingredients, potato salad baseball caps, or a giant potato salad party.
When drivers complained that it was too hard to turn their keys, GM made the switches looser – too loose, allowing them to slip from 'run' back to 'accessory' and cutting off engine control, a GM switch engineer testified in 2013
Hurricane Arthur won't deter Americans from celebrating Independence Day. In fact, the average $6.2 billion Americans spend during Independence Day weekend could go up if people move inside to celebrate.