(Reuters) – Entrepreneur and former Los Angeles Dodgers owner Frank McCourt’s Project Liberty and its consortium of partners in The People’s Bid said on Thursday they proposed to make a formal bid to ByteDance to buy TikTok’s U.S. assets. The move comes ahead of a Jan. 19 deadline by which ByteDance has to sell the […]
Musk acknowledges $2 trillion spending cut goal a long shot
WASHINGTON (Reuters) – Elon Musk, who U.S. President-elect Donald Trump has tapped to oversee a government cost-cutting effort, acknowledged that his declared goal of cutting $2 trillion in spending from the $6.8 trillion federal budget would be a long shot. “I think if we try for 2 trillion, we’ve got a good shot at getting […]
DirecTV challenges dismissal of Fubo’s claims against Venu Sports
(Reuters) – U.S. satellite TV provider DirecTV on Thursday challenged a dismissal of FuboTV’s lawsuit against Venu Sports, the streaming service planned by Walt Disney, Fox and Warner Bros Discovery, saying it does not resolve antitrust issues around the joint venture. DirecTV’s challenge marks the latest development in a battle between media companies for dominance […]
Kroger to pay $110 million to resolve Kentucky lawsuit over opioid epidemic
By Nate Raymond (Reuters) – Kroger has agreed to pay $110 million to resolve a lawsuit by the state of Kentucky alleging the supermarket chain’s pharmacies helped fuel a deadly opioid epidemic by flooding its communities with hundreds of millions of doses of addictive painkillers. The settlement was announced on Thursday by Kentucky Attorney General […]
Honeywell, NXP Semiconductors expand partnership to develop aviation technology
(Reuters) – Honeywell and NXP Semiconductors will expand their partnership to develop AI-driven technology for aviation and autonomous flying, the companies said on Wednesday. Under the partnership, the companies will combine Honeywell’s Anthem avionics — a cloud-connected cockpit system — and chipmaker NXP’s computing architecture to improve planning and managing flights. The partnership will look […]
Yellen says CFIUS made thorough analysis of blocked US Steel-Nippon Steel merger
By David Lawder WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen said on Wednesday that Nippon Steel’s planned acquisition of U.S. Steel received a “thorough analysis” by an interagency review body that was sent to President Joe Biden, who blocked the deal on national security grounds. Yellen, in a live interview on CNBC, said she could […]
Google must face mobile phone privacy class action, possible trial
By Jonathan Stempel (Reuters) – Google failed to persuade a federal judge to dismiss a privacy class action claiming it collected personal data from people’s cellphones after they switched off a button to stop the tracking, paving the way for a possible August trial. Chief Judge Richard Seeborg of the federal court in San Francisco […]
JPMorgan files two lawsuits against Greece’s Viva Wallet as legal saga continues
ATHENS (Reuters) – Wall Street bank JP Morgan has filed two lawsuits over its investment in fintech Viva Wallet, the latest twist in a legal dispute between the two sides over how to value the Greek business. A source with knowledge of the matter told Reuters that JP Morgan filed a lawsuit in Greece on […]
Tech group urges US to halt rule that would limit global access to AI chips
By Karen Freifeld (Reuters) – A technology industry group on Tuesday urged President Joe Biden’s administration to refrain from issuing a last-minute rule that would control global access to AI chips, warning the restrictions would jeopardize U.S. leadership in artificial intelligence. The Information Technology Industry Council, representing companies like Amazon, Microsoft and Meta, said the […]
US transfers $50 million in forfeited assets to Estonia for help in Danske Bank prosecution
By Kanishka Singh WASHINGTON (Reuters) -The U.S. Justice Department said on Tuesday it will share $50 million in forfeited assets with Estonia in recognition of Estonia’s assistance in the successful prosecution of Danske Bank and related forfeiture. The bank became the subject of several investigations after an internal probe in September 2018 uncovered about 200 […]