Diane's Feed
Mar 31, 2015

Robert Bosch GmbH to plead guilty to price fixing in U.S.

WASHINGTON (Reuters) – German-based auto parts company
Robert Bosch GmbH agreed to plead guilty to fixing the
prices of spark plugs and other auto parts, the U.S. Justice
Department said on Tuesday.

The company agreed to pay a criminal fine of $57.8 million.

The company’s settlement is the most recent in a long list
of auto parts makers – 34 in total – who have pleaded guilty or
agreed to plead guilty to fixing prices of more than 30 types of
car parts, including seat belts, ball bearings, radiators,
windshield wipers, air-conditioning systems, power window motors
and power steering components.

Mar 17, 2015

AT&T-DirecTV merger escapes heat as all eyes on Comcast

WASHINGTON (Reuters) – AT&T Inc’s proposed acquisition of satellite television company DirecTV is getting a smooth ride from U.S. regulators and industry rivals, who instead are directing their firepower at a merger deal between the nation’s two biggest cable operators.

U.S. Federal Communications Commission filings and interviews with several people familiar with the Justice Department show the $48.5 billion AT&T-DirecTV deal is getting far less attention than Comcast Corp’s agreement to buy Time Warner Cable Inc for $45 billion.

Mar 11, 2015

Investors bearish on Lumber Liquidators before company update

NEW YORK/WASHINGTON (Reuters) – Lumber Liquidators Holdings Inc is expected to address claims that its flooring products contain dangerous levels of a cancer-causing substance on an analyst call on Thursday, but with the company now under regulatory scrutiny investors are skeptical it will be able to stem the slide in its shares.

The hardwood flooring retailer’s shares have lost more than half their value in the last two weeks, following a March 1 report from CBS’s “60 Minutes” alleging the company sold flooring with higher levels of formaldehyde, a known carcinogen, than permitted.

Mar 4, 2015

Judges wary of Apple’s claims of phone patent harm by Samsung

WASHINGTON, March 4 (Reuters) – Apple Inc told a
U.S. appeals court on Wednesday that rival Samsung Electronics
Co Ltd should be barred from selling products that
infringe on its smartphone patents, but the judges were
skeptical.

Judge Kimberly Moore was skeptical that Apple was being
harmed since it already licenses some technology to other
companies. “You’ve already licensed these patents up the wazoo!”
she said.

Mar 1, 2015

Boehner defends his U.S. House leadership amid conservative unrest

WASHINGTON (Reuters) – U.S. House of Representatives Speaker John Boehner, having suffered an embarrassing rebuke at the hands of conservatives in his own party, played down any risk to his continuing leadership on Sunday, saying disagreements with fellow Republicans were merely over strategy, not goals.

Asked if he could lead the House, Boehner said, “I think so. I’m not going to suggest it’s easy, because it’s not.”

Mar 1, 2015

U.S. deserves ‘benefit of the doubt’ on getting Iran nuclear deal, Kerry says

WASHINGTON (Reuters) – U.S. Secretary of State John Kerry pressed the case on Sunday for completing nuclear diplomacy with Iran despite Israeli opposition, saying the United States deserves the benefit of the doubt on getting a deal that would prevent any need for military action to curb Tehran’s atomic ambitions.

Two days before Israeli Prime Minister Benjamin Netanyahu is due to address the U.S. Congress to warn against an Iran deal, Kerry delivered a stout defense of talks that are entering a critical phase with a key March 31 deadline looming.

Feb 20, 2015

Sysco not in talks to settle U.S. lawsuit to stop merger: lawyer

WASHINGTON (Reuters) – Sysco Corp (SYY.N: Quote, Profile, Research, Stock Buzz) is not holding settlement talks with the U.S. government to resolve a lawsuit aimed at stopping a $3.5 billion merger of the food distributor and its largest rival, a lawyer for Sysco said on Friday.

The Federal Trade Commission has filed a complaint aimed at blocking Sysco’s purchase of U.S. Foods Inc. The FTC said the deal would give the two companies too much market power, with control of 75 percent of the national market to supply restaurants, hotels and hospital chains with food and other supplies.

Feb 19, 2015

U.S. government sues to block Sysco-US Foods merger

NEW YORK/WASHINGTON (Reuters) – The U.S. government filed a lawsuit on Thursday seeking to block a merger of the nation’s two largest food distributors, US Foods Inc [USFOO.UL] and Sysco Corp (SYY.N: Quote, Profile, Research, Stock Buzz), which said it will fight the Federal Trade Commission (FTC) action.

Sysco and US Foods unveiled their $3.5 billion deal in December 2013. It was controversial because they are only two companies in their industry able to offer truly nationwide contracts to deliver food and other supplies to customers like hotel chains, hospitals and fast food restaurants.

Feb 19, 2015

FTC sues to block Sysco-US Foods merger

NEW YORK/WASHINGTON (Reuters) – The Federal Trade Commission said on Thursday it has filed a lawsuit seeking to block a merger of Sysco Corp (SYY.N: Quote, Profile, Research) and US Foods Inc [USFOO.UL].

Sysco and US Foods, the largest U.S. food distributors and the only ones with national reach, announced the $3.5 billion deal in December 2013. US Foods is owned by private equity companies including KKR & Co. (KKR.N: Quote, Profile, Research)

Feb 18, 2015

Sysco hires lawyers for possible merger fight with regulator

WASHINGTON (Reuters) – Food distributing company Sysco Corp (SYY.N: Quote, Profile, Research) has hired top Washington litigators to defend itself if U.S. regulators file a lawsuit to stop its merger with rival US Foods USFOO.UL, two sources close to the deal said on Wednesday.

The deal, announced in December 2013, is controversial because Sysco and US Foods are the two largest companies in their industry. Other distributors cannot match them on offering nationwide contracts for a wide range of goods for customers ranging from hotel chains and hospitals to fast food chains and fine restaurants.