New story in Business from Time: AT&T Just Got Cleared to Buy Time Warner in a Massive $85 Billion Media Merger

AT&T Inc. was cleared by a judge to take over Time Warner Inc. in an $85 billion deal that the mobile-phone giant says will fuel its evolution into a media powerhouse that can go head-to-head with Netflix Inc. and Amazon.com Inc.

U.S. District Judge Richard Leon on Tuesday rejected the Justice Department’s request for an order blocking the Time Warner acquisition, saying the government failed to make its case that the combination would lead to higher prices for pay-TV subscribers. The judge put no conditions on the deal.

AT&T slipped 1.6 percent to $33.80 in extended trading at 4:46 p.m. in New York. Time Warner jumped 4.7 percent.

After nearly two years, AT&T is on the cusp of completing its acquisition of Time Warner, a deal it struck in a bid to become an entertainment giant that can feed Time Warner programming like HBO and CNN to its 119 million mobile, internet and video customers.

“We think the evidence throughout the trial was quite clear and we’re very read more

New story in Business from Time: AT&T Just Got Cleared to Buy Time Warner in a Massive $85 Billion Media Merger

AT&T Inc. was cleared by a judge to take over Time Warner Inc. in an $85 billion deal that the mobile-phone giant says will fuel its evolution into a media powerhouse that can go head-to-head with Netflix Inc. and Amazon.com Inc.

U.S. District Judge Richard Leon on Tuesday rejected the Justice Department’s request for an order blocking the Time Warner acquisition, saying the government failed to make its case that the combination would lead to higher prices for pay-TV subscribers. The judge put no conditions on the deal.

AT&T slipped 1.6 percent to $33.80 in extended trading at 4:46 p.m. in New York. Time Warner jumped 4.7 percent.

After nearly two years, AT&T is on the cusp of completing its acquisition of Time Warner, a deal it struck in a bid to become an entertainment giant that can feed Time Warner programming like HBO and CNN to its 119 million mobile, internet and video customers.

“We think the evidence throughout the trial was quite clear and we’re very read more

New story in Business from Time: Gas Prices Are Going Up. Here’s How Much More You’ll Pay This Year Based On Your Exact Car

Owners of Ford F-series trucks — the most popular vehicle in 2017 — will pay about $413 more in gas this year compared to last year, according to government estimates. Honda Civic and Toyota Camry drivers, meanwhile, will face increases of $206.

Those figures are based on the Energy Information Administration’s estimate that gas will cost an average of $2.79 a gallon in 2018, up 37 cents from last year’s average. The calculation also assumes you’re doing as much driving as the average American — about 13,000 miles a year.

Gas prices jumped 1.7 percent in May alone, according to new data from the Bureau of Labor Statistics, outpacing an increase of 0.2 percent across all consumer goods.

The rise is due to increasing demand and reduced oil production by OPEC member countries. Some also blame President Trump’s withdrawal from the Iran nuclear deal, through prices were already on the rise when he announced the move.

At read more

New story in Business from Time: Qatar Air CEO Says a Woman Could Never Do His Job

Akbar Al Baker, the chief executive of Qatar Airways, has come under fire for telling a press conference in Sydney, Australia, that only a man could do his job because it is so difficult.

When asked about what could be done to increase the poor representation of women in the Middle East’s aviation industry, Al Baker replied that Qatar Airways “has to be led by a man, because it is a very challenging position,” Bloomberg reports. His comments were reportedly met with load groans of disapproval.

After the press conference, which was connected to the International Air Transport Association (IATA)’s annual meeting, Al Baker clarified to Bloomberg Television’s Haidi Lun that he was “only referring to one individual” and “not referring to the staff in general.” He also claimed that there was no gender inequality at Qatar Airways and said the carrier’s staff is more than 33% female.

Al Baker’s comments came the day it was announced read more

New story in Business from Time: Qatar Air CEO Says a Woman Could Never Do His Job

Akbar Al Baker, the chief executive of Qatar Airways, has come under fire for telling a press conference in Sydney, Australia, that only a man could do his job because it is so difficult.

When asked about what could be done to increase the poor representation of women in the Middle East’s aviation industry, Al Baker replied that Qatar Airways “has to be led by a man, because it is a very challenging position,” Bloomberg reports. His comments were reportedly met with load groans of disapproval.

After the press conference, which was connected to the International Air Transport Association (IATA)’s annual meeting, Al Baker clarified to Bloomberg Television’s Haidi Lun that he was “only referring to one individual” and “not referring to the staff in general.” He also claimed that there was no gender inequality at Qatar Airways and said the carrier’s staff is more than 33% female.

Al Baker’s comments came the day it was announced read more

New story in Business from Time: Here’s the Campaign Howard Schultz Could Run for President

Starbucks Executive Chairman Howard Schultz’s announcement that he will leave the company at the end of the month prompted immediate speculation about a potential political future for the man who built Starbucks into a global behemoth.

Schultz — whose potential political future has been the subject of such speculation for years, including in a 2015 TIME cover story — remained non-commital on the topic this week, telling the New York Times ahead of the announcement that he was considering a “range of options” in response to a question about running for president.

In an interview with TIME in March, Schultz stressed that he remained a private citizen but jumped into political discussion and hinted at the themes that could animate a potential campaign including reducing the national debt and bipartisanship.

“There’s just been a lack of responsibility [from] both parties,” he told TIME at a Starbucks coffee farm in Costa Rica. “If you just read more

New story in Business from Time: Here’s the Campaign Howard Schultz Could Run for President

Starbucks Executive Chairman Howard Schultz’s announcement that he will leave the company at the end of the month prompted immediate speculation about a potential political future for the man who built Starbucks into a global behemoth.

Schultz — whose potential political future has been the subject of such speculation for years, including in a 2015 TIME cover story — remained non-commital on the topic this week, telling the New York Times ahead of the announcement that he was considering a “range of options” in response to a question about running for president.

In an interview with TIME in March, Schultz stressed that he remained a private citizen but jumped into political discussion and hinted at the themes that could animate a potential campaign including reducing the national debt and bipartisanship.

“There’s just been a lack of responsibility [from] both parties,” he told TIME at a Starbucks coffee farm in Costa Rica. “If you just read more

New story in Business from Time: Howard Schultz Is Stepping Down As Starbucks Executive Chairman

SEATTLE — Starbucks Corporation today announced that Howard Schultz is stepping down as executive chairman and member of the Board of Directors and will be honored with the title of chairman emeritus effective June 26, 2018.

Schultz, who reimagined the Italian coffeehouse tradition in America and redefined the role and responsibility of a publicly-held company, announced his departure as executive chairman of Starbucks telling over two million past and present partners (employees), “We did it together, by balancing profitability and social conscience.”

During his four decades as ceo and chairman, Schultz grew Starbucks from 11 stores to more than 28,000 stores in 77 countries, while demonstrating that a business can simultaneously deliver best-in-class financial performance and share success with its people and the communities it serves.

Under Schultz’s leadership, Starbucks has delivered a 21,000% gain in the value of its stock price since its initial public offering read more

New story in Business from Time: Howard Schultz Is Stepping Down As Starbucks Executive Chairman

SEATTLE — Starbucks Corporation today announced that Howard Schultz is stepping down as executive chairman and member of the Board of Directors and will be honored with the title of chairman emeritus effective June 26, 2018.

Schultz, who reimagined the Italian coffeehouse tradition in America and redefined the role and responsibility of a publicly-held company, announced his departure as executive chairman of Starbucks telling over two million past and present partners (employees), “We did it together, by balancing profitability and social conscience.”

During his four decades as ceo and chairman, Schultz grew Starbucks from 11 stores to more than 28,000 stores in 77 countries, while demonstrating that a business can simultaneously deliver best-in-class financial performance and share success with its people and the communities it serves.

Under Schultz’s leadership, Starbucks has delivered a 21,000% gain in the value of its stock price since its initial public offering read more

New story in Business from Time: Microsoft Is Buying Computer Coding Giant Github for $7.5 Billion

Microsoft Corp. said it reached an agreement to buy GitHub Inc., the code repository company popular with many software developers, for $7.5 billion in stock.

The acquisition provides a way forward for San Francisco-based GitHub, which has been trying for nine months to find a new chief executive officer and has yet to make a profit from its popular service that allows coders to share and collaborate on their work. It also helps Microsoft, which is increasingly relying on open-source software, to add programming tools and tie up with a company that has become a key part of the way Microsoft writes its own software.

GitHub will operate independently with former Xamarin CEO and current Microsoft developer tools executive Nat Friedman as it’s CEO, Microsoft said in a statement Monday. It will continue to support the programming languages, tools and operating systems of the user’s choice. Microsoft expects the deal to close by the end of the year.

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