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Verizon Communications Inc. on Thursday filed a legal challenge to new federal regulations that prohibit broadband providers from interfering with Internet traffic flowing over their networks.
In a filing in federal appeals court in the District of Columbia, Verizon argues that the Federal Communications Commission overstepped its authority in adopting the “network neutrality” rules last month. Get the full story »
General Electric Co.’s Jeffrey Immelt said Wednesday he wants the United States and China to open their borders for truly free trade between the world’s top two economies, rather than hiding behind protectionist walls.
But the chief executive of the largest U.S. conglomerate acknowledged in an interview with Reuters Insider that he treads carefully in going into business with Chinese companies. Get the full story »
The United States and China reached agreement on export deals worth $45 billion, a senior U.S. official said Wednesday.
The agreements included a $19 billion deal with Boeing in which China will purchase 200 Boeing aircraft. Get the full story »
U.S. farm equipment maker Deere & Co will spend $100 million to expand its capacity to produce tractors for the Indian market and for export, building a new factory and expanding an existing one. Get the full story »
Before Thursday night’s big bash in Chicago where Mayor Richard Daley will welcome China’s President Hu Jintao to the Windy City, several business executives with Chicago connections met with the Chinese leader and President Barack Obama in a Wednesday afternoon gathering at the White House.
Attending the meeting were James McNerney, chairman and chief executive of Chicago-based Boeing Co. and Greg Brown, the president and chief executive of Motorola Solutions Inc. in suburban Schaumburg. Get the full story »
Yum Brands Inc. said it’s shopping for a buyer for its Long John Silver’s and A&W All-American Food Restaurants to focus on international expansion.
The company, which also operates Taco Bell, Pizza Hut and KFC, said the chains don’t fit in with its long-term growth strategy, and it doesn’t expect the sale to have a material effect on its ongoing earnings or cash flow. Get the full story »
Estonia’s Consumer Protection Board said U.S. fastfood franchise McDonald’s Corp. may have used the Estonian changeover from kroon to euro as a cover to raise prices, according to a report from the BNS news agency Monday. Get the full story »
Stretching out the repayment of Greece’s outstanding debt, beyond its EU/IMF bailout loans, could help the overborrowed country emerge from its debt crisis, its deputy prime minister said Monday.
“I do not believe in haircuts but in extending the repayment period on debt,” Deputy Prime Minister Theodore Pangalos told Skai TV’s New Files show.
“Debt repayment extension may refer not only to the 110 billion euros (of emergency EU/IMF funding) but the entire debt,” he said.
A South African chain’s shareholders have overwhelmingly accepted Wal-Mart’s offer to buy 51 percent of their company, the chief executive said Monday, paving the way for the giant U.S.-based retailer to enter Africa.
A group of U.S. senators, on the eve of Chinese President Hu Jintao’s arrival in the United States, said the time has come for U.S. congressional action on China’s currency policies.
Democratic Senator Charles Schumer said Beijing’s currency practices give Chinese companies an unfair trade advantage and have acted like “a boot on the throat” of U.S. economic recovery. Get the full story »
Groupon CEO Andrew Mason in a video to Japanaese customers. (YouTube)
The chief executive of Groupon, the rapidly growing online coupon provider, apologized to Japanese customers Monday for a New Year’s deal gone wrong that highlighted the difficulties the company faces in managing its global expansion.
In a subtitled video message uploaded onto YouTube, the company’s founder and CEO Andrew Mason acknowledged that the company had “really messed up” and outlined steps it was taking to rebuild its tarnished image in Japan. Get the full story »
European planemaker Airbus scored a surprise victory in the annual orders race against Boeing and celebrated the 10,000th plane sale in its 40-year history with a $5 billion order from Virgin America. A last-minute surge pushed Airbus past its U.S. rival for a third year as it held onto a net order market share of 52 percent in the face of a resurgent Boeing, which was hit by cancellations in 2009 due to delays to its 787 Dreamliner. Get the full story »
Oil slipped Thursday as markets weighed disappointing U.S. jobless claims data and the prospect OPEC would raise output should prices break above $100 a barrel for an extended period. Get the full story »
