Business

Austria’s AMS says looking forward to discussions with Osram

Sensor specialist AMS (AMS.S) (AMS.VI) on Tuesday said it took note of Osram’s willingness to discuss a takeover and was looking forward to discussions. The Austrian company said on Sunday it was ready to make a cash offer valuing German lighting company Osram (OSRn.DE) at 4.3 billion euros ($4.8 billion), 10% more than Bain Capital […]

Business

American Airlines wins permanent court block against alleged disruption by mechanics

A U.S. federal court on Monday issued a permanent injunction against American Airlines Group Inc’s mechanics union, which the airline had accused of illegal slowdowns it said had devastated its operations during the peak summer travel season. The judgment, issued in the United States District Court for the Northern District of Texas, made permanent an […]

Business

Occidental finance chief pledges to quickly pare acquisition debt

Occidental Petroleum Corp (OXY.N) expects to quickly reduce the $40 billion in debt it took on with its purchase of Anadarko Petroleum, the company’s finance chief said on Monday. Cedric Burgher, in his first public remarks since the $38 billion acquisition closed last week, told an EnerCom energy conference audience, the resulting debt burden was […]

Business

Oregon joins states’ lawsuit to block T-Mobile, Sprint merger

Oregon has joined a multistate lawsuit to block the merger of U.S. wireless carriers T-Mobile US Inc and Sprint Corp, the New York attorney general’s office, which is leading the lawsuit along with California, said on Monday. Fifteen states and the District of Columbia are now seeking to stop the merger, which the states argue […]

Business

U.S. senators ask Amazon CEO if ‘Amazon’s Choice’ deceives consumers

Two U.S. senators asked Amazon.com Inc Chief Executive Jeff Bezos on Monday how the “Amazon’s Choice” badge on certain products is determined and whether the mark deceives consumers into purchasing “products of inferior quality.” “We are concerned the badge is assigned in an arbitrary manner, or worse, based on fraudulent product reviews,” Democratic Senators Bob […]

Business

U.S. transportation chief asks new FAA head to review agency in wake of 737 MAX crashes

U.S. Transportation Secretary Elaine Chao said on Monday she has asked the new head of the Federal Aviation Administration (FAA) to assess the agency’s performance in the wake of two fatal crashes of Boeing Co’s 737 MAX planes since October. Chao, who administered the oath of office to new FAA Administrator Stephen Dickson, a former […]

Business

Colombia fines Uber more than $629,000 for obstructing regulatory visit

Colombia’s commerce regulator said on Monday it would fine ride-hailing company Uber Technologies Inc (UBER.N) more than $629,000 for obstructing a regulatory visit in 2017. Uber has repeatedly drawn the ire of authorities in Colombia, where use of the service is widespread but illegal. The country has not specifically regulated transport services like Uber, but […]