Business News

National Enquirer to be sold to owner of magazine distributor

(Reuters) - American Media Inc (AMI) said on Thursday it was selling its National Enquirer tabloid to James Cohen, whose family owns a magazine distributor and used to own the Hudson chain of airport newsstands. The National Enquirer had admitted to paying hush money to help U.S. President Donald Trump get elected and been accused of attempting to blackmail Amazon founder Jeff Bezos. The weekly tabloid, along with tw...

19 Apr 3:54 AM 0 Read More...

Hudson Media chief James Cohen to buy National Enquirer

(Reuters) - American Media Inc (AMI) said on Thursday it is selling its tabloid the National Enquirer to James Cohen, chief executive officer of Hudson Media. The National Enquirer had admitted to paying hush money to help U.S. President Donald Trump get elected and been accused of attempting to blackmail Amazon founder Jeff Bezos. The weekly tabloid, along with two of its sister publications, will be purchased by th...

18 Apr 10:49 PM 0 Read More...

Sears sues Lampert, claiming he looted assets and drove it into bankruptcy

NEW YORK (Reuters) - Sears Holdings Corp sued longtime former Chairman Eddie Lampert, his hedge fund ESL Investments and others like Treasury Secretary Steven Mnuchin, claiming they illegally siphoned billions of dollars of assets from the retailer before it went bankrupt. The lawsuit, made public on Thursday, was filed by the restructuring team winding down Sears’ bankruptcy estate and suing on behalf of creditors...

18 Apr 10:49 PM 0 Read More...

New North American trade deal modestly boosts U.S. economy, trade panel finds

WASHINGTON (Reuters) - The new North American free trade pact would modestly boost the U.S. economy, especially auto parts production, but may curb vehicle assembly and limit consumer choice in cars, a hotly anticipated analysis from the U.S. International Trade Commission showed on Thursday. The ITC report is a crucial step in the push for Congress to consider ratification of the U.S.-Mexico-Canada Agreement, which ...

18 Apr 10:49 PM 0 Read More...

Tesla's Elon Musk, SEC get another week to work out deal on Twitter use

NEW YORK (Reuters) - Tesla Inc Chief Executive Elon Musk and the U.S. Securities and Exchange Commission will get another week to settle a dispute over Musk’s use of Twitter, a federal judge ruled Thursday. U.S. District Judge Alison Nathan in Manhattan extended the deadline by one week to April 25, in response to a Thursday court filing where both sides requested the extension and said “discussions are ongoi...

18 Apr 10:49 PM 0 Read More...

Air Canada pilots reviewing aircraft systems on Boeing's MAX jets

(Reuters) - Air Canada said on Thursday its Boeing Co 737 MAX pilots were reviewing aircraft systems and alternative flight conditions for the grounded planes, and the carrier would decide on further training pending final recommendations from regulators. On Wednesday, Canadian Transport Minister Marc Garneau called for pilots to receive simulator training for Boeing’s new 737 MAX software, going beyond a draft r...

18 Apr 10:49 PM 0 Read More...

Pinterest’s shares surge 25 percent in debut

(Reuters) – Shares of Pinterest Inc surged 25 percent in their debut on Thursday, giving the online scrapbook company a market capitalization of $15.8 billion and signalling increased investor appetite for new tech listings. The successful debut bodes well for the U.S. IPO market as it readies for the much-awaited listing of ride-hailing giant Uber Technologies, particularly after smaller rival Lyft Inc’s ...

18 Apr 6:14 PM 0 Read More...

Pinterest's shares surge 25 percent in debut

(Reuters) - Shares of Pinterest Inc surged 25 percent in their debut on Thursday, giving the online scrapbook company a market capitalization of $15.8 billion and signalling increased investor appetite for new tech listings. The successful debut bodes well for the U.S. IPO market as it readies for the much-awaited listing of ride-hailing giant Uber Technologies, particularly after smaller rival Lyft Inc’s struggles...

18 Apr 5:45 PM 0 Read More...

German ministry wants to extend electric car subsidies: document

BERLIN (Reuters) - Germany’s economy ministry wants to extend subsidies for new electric cars until the end of 2020 in an effort to increase sales, draft guidelines seen by Reuters on Thursday showed. Germany is trying to boost demand for electric vehicles on environmental grounds and in response to a diesel emissions cheating scandal that has engulfed the country’s auto industry, notably Volkswagen but also othe...

18 Apr 5:45 PM 0 Read More...

Explainer: Betting on the past? Europe decides on connected car standards

FRANKFURT (Reuters) - The European Commission’s push to implement a Wi-Fi standard for connected cars has won the support of lawmakers in a victory for Germany’s Volkswagen, although competitor BMW and other backers of a rival technology still hope to overturn the decision. Advocates of the alternative C-V2X standard - which stands for Cellular Vehicle to Everything - say their technology is already viable and wi...

18 Apr 5:45 PM 0 Read More...