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Spielberg, India Firm Near Deal to Ally With DreamWorks
The principals of DreamWorks SKG (NYSE:DWA) are close to a deal with one of India’s biggest entertainment conglomerates to form a new movie venture, according to people familiar with the situation, a move that would give director Steven Spielberg the cash to finance his DreamWorks team’s departure from Viacom Inc.’s (NYSE:VIA.B) Paramount Pictures later this year.
Floodwaters Add to Pressure on Gas Prices
Flooding in the Midwest could mean drivers will be getting a bigger soaking at gasoline pumps nationwide.
Children’s Product Industry Put in Regulatory Bind
WASHINGTON — The $33 billion-plus U.S. children’s product industry faces increasing state efforts to regulate its products while Congress wrangles over federal rules that won’t be in place in time for this year’s holiday shopping season.
Can Hershey Survive Candy Wars?
Hershey Co. (NYSE:HSY) laid out plans Tuesday to battle the global candy giant to be created by the Mars-Wrigley merger, but offered little detail on how the iconic chocolate-bar maker will address its overwhelming reliance on the U.S. market for revenue.
Soaring Fuel Prices Pinch Airlines Harder
Major carriers Northwest Airlines Corp. (NYSE:NWA) and ACE Aviation Holdings Inc.’s (TSE:ACE.B)Air Canada on Tuesday joined the growing roster of airlines saying they plan to ground planes, reduce capacity and, in some cases, cut jobs this fall and winter. Discount carriers Virgin America Inc. and AirTran Airways, a unit of AirTran Holdings Inc., (NYSE:AAI) also weighed in with plans to reduce seats.
Supercomputer Ranking Shows Gains by Intel
A new ranking of the world’s biggest supercomputer installations shows several noticeable shifts, including gains in the use of chips by Intel Corp. (NASDAQ:INTC) and International Business Machines Corp. (NYSE:IBM)
LinkedIn Gets $53 Million Infusion
LinkedIn Corp., a business-networking Web site, has received a $53 million infusion from blue-chip venture capitalists that values the company at $1 billion.
Pfizer, Ranbaxy Deal Postpones Generic Lipitor for 20 Months
June 18 (Bloomberg) — Pfizer Inc. (NYSE:PFE) and India’s Ranbaxy Laboratories Ltd. (BOM:500359) agreed to keep copies of the cholesterol pill Lipitor off the U.S. market an extra 20 months, a move that may generate an added $12 billion for the U.S. drugmaker.
European Stocks Drop, Led by Sainsbury, UBS; U.S. Futures Fall
June 18 (Bloomberg) — European stocks fell after J Sainsbury Plc (LON:SBRY) reported slowing sales and brokerages downgraded property and tourism companies as the cooling economy drags on profits. U.S. index futures declined, while Asian shares rose.
Paulson & Co. Head Says Credit Writedowns May Hit $1.3 Trillion
June 18 (Bloomberg) — John Paulson, founder of hedge fund Paulson & Co., said global writedowns and losses from the credit crisis may reach $1.3 trillion, exceeding the International Monetary Fund’s $945 billion estimate.
Buffett’s Berkshire May Get $600 Million If InBev Buys Anheuser
June 18 (Bloomberg) — Berkshire Hathaway Inc., (NYSE:BRK.A) the investment company controlled by billionaire Warren Buffett, may bank a $600 million profit if InBev NV (EBR:INB) succeeds in its $46.3 billion takeover of Budweiser-maker Anheuser-Bush Co. (NYSE:BUD)
Judge Rejects Bid to Move Up Yahoo! Trial
SAN FRANCISCO — A Delaware judge has rejected a request by Yahoo! (NASDAQ:YHOO) shareholders for an expedited trial.
