What's News: Business & Finance -- WSJ
October 22 2016 - 3:02AM
Dow Jones News
AT&T is nearing an agreement to buy Time Warner, a deal that
would set a milestone in the converging media and
telecommunications sectors.
Other contenders could jump into the fray. Apple approached Time
Warner about pursuing a combination a few months ago.
BAT offered $47 billion to take full control of Reynolds
American, a move that would create the world's largest listed
tobacco firm by revenue and market value.
Investigators believe issues linked to fueling likely caused
last month's SpaceX rocket explosion.
Moody's said it expects the Justice Department to sue over bond
ratings it issued prior to the 2008 housing-market collapse.
GE cut its full-year sales forecast after reporting a drop in
third-quarter orders and weakness in its oil-and-gas equipment
business.
Deal talks and earnings sparked sharp moves in individual
stocks, while the broader market was steady. The Dow fell 16.64
points.
McDonald's quarterly sales growth topped expectations, but gains
in the U.S. cooled further.
Daimler posted higher quarterly profit on strong Mercedes-Benz
sales.
(END) Dow Jones Newswires
October 22, 2016 02:47 ET (06:47 GMT)
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