Comcast Time Warner merger
In this combination of Associated Press photos, a coaxial cable is displayed in front of the Comcast Corp. logo in Philadelphia, on Wednesday, July 30, 2008, and a Time Warner Cable truck is parked in New York on Feb. 2, 2009. After months of unremitting pressure from consumer activists and growing scrutiny from regulators, Comcast has abandoned its merger with Time Warner.
(Matt Rourke, Associated Press)
Stock market news:
The Nasdaq Composite and S&P 500 chalked up record high closes today, propelled by strong results from tech behemoths Google, Amazon and Microsoft. The Nasdaq gained 36.02 points to 5,092.09, the S&P 500 index rose 4.76 points to 2,117.69 and the Dow Jones industrial average was up 21.45 points to 18,080.14. (Reuters)
European stocks pared gains today, following a lackluster end to meeting on Greece's debt troubles, but equities remained on track for a weekly advance. (MarketWatch)
U.S. oil prices slipped today as crude traders refocused on signs of oversupply. (Wall Street Journal)
Business news:
After months of unremitting pressure from consumer activists and growing scrutiny from regulators, Comcast has abandoned its merger with Time Warner. (ConsumerAffairs)
Abercrombie & Fitch is saying goodbye to the beefcake models who greet customers at its doors, and will no longer have "sexualized" photos used in marketing materials in its stores and on its shopping bags, starting in late July. (Associated Press)
PepsiCo will drop aspartame from Diet Pepsi, and replace it with sucralose, another artificial sweetener known as Splenda. (Vending Times)
Teva Pharmaceutical Industries' bid for Mylan would create a company controlling nearly 25 percent of the U.S. generics market, including drugs in short supply, according to industry experts. (Reuters)
Chesapeake Energy has agreed to pay $25 million to settle antitrust allegations made by Michigan's attorney general, as well as complaints it misled hundreds of landowners to obtain leases in the state. (Dow Jones Business News)
Chevrolet will unleash a new 650-horsepower Corvette later this year. (Los Angeles Times)
Italy's market watchdog Consob is investigating a fake statement issued today in the name of Intesa Sanpaolo announcing the resignation of the bank's chief executive, a Consob spokesman said. (Reuters)
Technology news:
Luxottica, the Italian eyewear maker that owns Ray-Ban and Oakley, is working with Google to design a new version of Glass. (IDG News Service)
A month after all Android users gained access to WhatsApp's voice calling feature, iPhone enthusiasts will now get the chance to use the messaging app's dial pad. (Christian Science Monitor)
PC gaming giant Valve is facing vocal backlash from its community a day after giving developers of game modifications the ability to charge for their work on the Steam platform. (TechCrunch)
Chinese smartphone maker Xiaomi expects revenue from mobile services -- such as games and a payment app -- that it sells to more than triple this year to nearly $1 billion. (Wall Street Journal)