CBS, Viacom complete merger in a win for Shari Redstone

CBS, Viacom complete merger in a win for Shari Redstone
FILE PHOTO: The CBS Television Studios campus is seen in Los Angeles, California, U.S. August 3, 2018. REUTERS/Lucy Nicholson (Reuters) – CBS Corp and Viacom Inc completed their merger on Wednesday, reuniting media mogul Sumner Redstone’s U.S. entertainment empire. The combined entity, ViacomCBS Inc VIACA.O VIAC.O, is controlled by National Amusements Inc, the holding company owned by billionaire Sumner Redstone... Read More

Fidelity Investments names new head of $3 trillion asset management division

Fidelity Investments names new head of $3 trillion asset management division
A Fidelity Investments store logo is pictured on a building in Boca Raton, Florida March 19, 2016. REUTERS/Carlo Allegri BOSTON (Reuters) – Fidelity Investments on Tuesday named Bart Grenier, who was at the center of a tickets scandal at the mutual fund company more than a decade ago, to lead its nearly $3 trillion asset management division. Grenier will replace... Read More

Off the radar: U.S. CEOs’ jet perks add millions to corporate tax bills

Off the radar: U.S. CEOs’ jet perks add millions to corporate tax bills
BOSTON (Reuters) – As U.S. corporate jet use approaches pre-financial crisis levels and chief executives take an increasing number of personal trips on the company tab, many investors are being kept in the dark about the true cost of the perk. FILE PHOTO: A Gulfstream 650ER business jet is displayed at the Gulfstream booth at the National Business Aviation Association... Read More

Grain trader Louis Dreyfus to cut costs in ongoing overhaul

Grain trader Louis Dreyfus to cut costs in ongoing overhaul
SAO PAULO/PARIS (Reuters) – Louis Dreyfus Company is making sweeping cost cuts, starting with travel, entertainment, hiring and salaries, as the 168-year-old agricultural commodities firm tries to revive dwindling profits. FILE PHOTO: Olympique de Marseille’s majority owner, billionaire businesswoman Margarita Louis-Dreyfus attends a news conference in the Velodrome Stadium in Marseille, France, August 4, 2016. REUTERS/Philippe Laurenson Global trade tensions... Read More

Manchester City owner scores $4.8 billion price tag with stake sale

Manchester City owner scores $4.8 billion price tag with stake sale
PARIS/LONDON (Reuters) – Manchester City’s Abu Dhabi-controlled owner has agreed to sell a $500 million stake to U.S. private equity firm Silver Lake, making it the world’s most valuable soccer group with a $4.8 billion price tag. FILE PHOTO: Soccer Football – Premier League – Brighton & Hove Albion v Manchester City – The American Express Community Stadium, Brighton, Britain... Read More

Dell misses revenue estimates on weakness in server business

Dell misses revenue estimates on weakness in server business
FILE PHOTO: A Dell gaming computer is shown at the E3 2017 Electronic Entertainment Expo in Los Angeles, California, U.S. June 13, 2017. REUTERS/ Mike Blake (Reuters) – Dell Technologies Inc missed Wall Street estimates for quarterly revenue on Tuesday as its server business wrestled with higher costs and lower demand in a market hit by U.S.-China trade tensions. Revenue... Read More