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AT&T-Time Warner merger approved...Steamed in Seattle...Quiet trading

June 12, 2018

WASHINGTON (AP) — Now that a federal judge has approved AT&T’s $85 billion takeover of Time Warner, other companies are likely to rush to consolidate. Tuesday’s ruling signaled that federal regulators will have a hard time stopping companies from getting bigger by gobbling up rivals and the programming they own. Even if a company doesn’t need to get bigger right away, it might need to do so to prevent a competitor from overshadowing it. For starters, expect Comcast to make a bid for Fox’s entertainment business as early as Wednesday.

SEATTLE (AP) — Angry people at a Seattle City Council meeting shouted for more time to discuss a vote Tuesday on repealing a tax on large businesses like Amazon that aimed to raise money to fight a homelessness crisis. Supporters and opponents of the tax were talking for about an hour before Council President Bruce Harrell gave them more time. City leaders said they plan to repeal the tax just a month after unanimously approving it as they faced mounting pressure from companies.

NEW YORK (AP) — Stocks mostly rose in a quiet Tuesday session, as investors reacted calmly to the outcome of a meeting between President Donald Trump and North Korean leader Kim Jong Un, and turned their attentions to this week’s trio of central bank meetings. The Dow fell 1.58 points. The S&P rose 4.85 points and the Nasdaq added 43.87 points.

WASHINGTON (AP) — Federal regulators are disputing the Trump administration’s claim that struggles facing the coal and nuclear industries threaten the reliability of the nation’s power grid. Federal Energy Regulatory Commission chairman Kevin McIntyre, a Republican, says there is “no immediate calamity or threat.” Four other commissioners from both parties agreed there is no immediate threat to the grid.

NEW YORK (AP) — An Uber driver who kicked two kissing women out of his car and had his New York livery license suspended says the women also played loud music on their phones. Driver Ahmad El Boutari tells the Daily News one of the women put her feet on the seat. A cellphone video taken by one of the women shows the driver saying kissing in an Uber is illegal. Uber says it does not tolerate discrimination and is investigating.

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