Diane's Feed
Jan 31, 2014

Sticker shock key to antitrust approval for Sysco, US Foods deal

WASHINGTON (Reuters) – The antitrust battle over whether food giant Sysco Corp (SYY.N: Quote, Profile, Research, Stock Buzz) will be allowed to buy rival US Foods Inc USFOO.UL will likely focus on whether the merger will drive up costs for thousands of restaurants, hospitals and hotels that they supply on nationwide contracts.

The Federal Trade Commission will examine Sysco’s $3.5 billion deal to buy debt-ridden US Foods from private equity, which was announced in December and would combine the only two food suppliers with a nationwide reach.

Jan 31, 2014

Experts predict Lenovo’s U.S. buys will pass regulatory muster

WASHINGTON (Reuters) – U.S. officials are likely to allow China’s Lenovo Group to buy IBM’s low-end server business and Google Inc’s Motorola Mobility handset business if it agrees to concessions aimed at protecting U.S. national security, experts said.

Computer maker Lenovo has advantages over other Chinese companies that should help it overcome the mutual suspicion between the United States and China over industrial spying and cybersecurity, such as its track record of successful U.S. acquisitions in the past. And importantly, it is not directly controlled by China’s government.

Jan 28, 2014

American folk singer and activist Pete Seeger dies at 94

Jan 28 (Reuters) – Pete Seeger, who helped create the modern
American folk music movement and co-wrote some of its most
enduring songs such as “If I Had a Hammer”, died on Monday at
the age of 94, U.S. media reported.

He was variously hailed in social and traditional media as a
“hero”, “America’s conscience” and “A man of the people”.

Jan 17, 2014

Time Warner Cable deal likely to have strings attached by regulators

WASHINGTON, Jan 17 (Reuters) – Any expansion by cable
provider Comcast, including a deal with Charter Communications
to split provider Time Warner Cable between them, would get a
tough review from U.S. regulators, who might use the proposal to
force Internet providers to treat all traffic equally, antitrust
experts said.

Charter Communications Inc reached out to Comcast
Corp this week about teaming up to buy Time Warner
Cable Inc, according to people familiar with the matter.

Jan 16, 2014

Exclusive: Florida, Indiana, others probing Sysco, US Foods deal

WASHINGTON (Reuters) – Florida, Indiana and other U.S. states are reviewing food distributor Sysco Corp’s proposed deal to buy rival US Foods Inc, offices of state attorneys general said on Thursday.

Sysco said in December that it would buy US Foods for about $3.5 billion from its private equity owners in a deal that would combine the two largest U.S. food distributors and create a company commanding at least a quarter of the $235 billion North American market.

Jan 16, 2014

Florida, Indiana, others probing Sysco, US Foods deal

WASHINGTON, Jan 16 (Reuters) – Florida, Indiana and other
U.S. states are reviewing food distributor Sysco Corp’s
proposed deal to buy rival US Foods Inc, offices of
state attorneys general said on Thursday.

Sysco said in December that it would buy US Foods for about
$3.5 billion from its private equity owners in a deal that would
combine the two largest U.S. food distributors and create a
company commanding at least a quarter of the $235 billion North
American market.

Jan 16, 2014

Apple to refund at least $32.5 million in disputed kids’ app purchases

WASHINGTON (Reuters) – Apple Inc will refund consumers at least $32.5 million to settle a longstanding complaint that the technology company billed U.S. consumers for charges incurred by children through mobile apps without their parents’ consent.

Under the terms of the settlement, announced on Wednesday by the U.S. Federal Trade Commission, Apple also will be required to change its billing practices to ensure it obtains consent from parents before charging for such in-app spending.

Jan 15, 2014

Apple reaches consent decree with U.S. over kids’ app purchases

WASHINGTON (Reuters) – Apple Inc will refund consumers at least $32.5 million to settle a longstanding complaint that the technology company billed U.S. consumers for charges incurred by children buying mobile apps without their parents’ consent.

Under the terms of the settlement, announced on Wednesday by the U.S. Federal Trade Commission, Apple also will be required to change its billing practices to ensure it obtains consent from consumers before charging for items sold in mobile apps.

Jan 13, 2014

U.S. Supreme Court refuses to hear Internet shopping patent case

WASHINGTON (Reuters) – The U.S. Supreme Court said on Monday it would not take on an Internet technology patent case that pitted a company accused of aggressively enforcing weak patents against another with an equally tough reputation for fighting patent infringement claims.

The closely watched case involved the online shopping site Newegg Inc, which specializes in computer products, and software company Soverain Software LLC, which had accused Newegg of infringing three patents known as the “shopping cart patents,” which describe a way to buy products online and pay for them.

Jan 9, 2014

U.S. targets ‘deceptive’ car dealer advertisements

WASHINGTON (Reuters) – Nine auto dealerships in six states have agreed to stop what the U.S. government called deceptive advertising, and the Federal Trade Commission said on Thursday it would litigate against another as part of an effort to convince dealers to make sure their advertising is accurate.

The dealers who settled with the commission were accused of behaviors that included advertising car prices that were $5,000 higher than real prices, advertising zero-dollar-down leases when there were actually substantial upfront fees, and advertising low interest rates when in fact rates went up shortly after a loan agreement was signed.