AT&T Time Warner merger faces government scrutiny
The $85 billion AT&T Time Warner deal is stalled by the Justice Department amid concerns over CNN and other Turner assets. AT&T offered to divest CNN, which the DOJ reportedly rejected. Officials warn of possible antitrust action if terms cannot be reached.
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Uber plans flying taxis by 2020 in Los Angeles
Uber unveils UberAir with electric aircraft to shuttle riders in L A and Dallas by 2020. Partners Embraer Bell Pipistrel Aurora Mooney will supply craft while Uber runs booking software and collects commissions. Holden says fares aim to match UberX with longer term self flying planes. City support noted by Mayor Garcetti as regulation and zoning discussions begin.
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Tech gains lift markets as Take-Two and Activision soar
U.S. stocks edged higher with technology shares leading a broad advance as Take-Two Interactive and Activision Blizzard posted strong debuts for new titles. Energy and banks lagged on steady rising rates while major indexes hit record highs. Panera founder Shaich to step down as CEO with Au Bon Pain acquisition. China Montana beef deal noted but small relative to market.
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Year after Trump win coal industry still struggling
A year into Trump's presidency coal's share of the power mix continues to decline as wind and solar expand. Utilities are shuttering coal plants while renewables grow cheaper, with Lazard noting wind and solar increasingly beating coal and nuclear on a regional basis.
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