Lawmakers Voice Concerns on AT&T-Time Warner Deal

Senators expressed wide-ranging concerns about AT&T's $85 billion deal to buy Time Warner, suggesting the merger could face more pressure at a time of growing concentration in many businesses and an era of surging populism.

 
Pfizer Fined $107 Million for Overcharging U.K. for Epilepsy Drug

Pfizer has become the latest drugmaker taken to task for high prices after U.K. authorities hit the company with a record $107 million fine over the price of an anti-epilepsy drug.

 
EU Fines J.P. Morgan, HSBC, Crédit Agricole $520 Million for Collusion

The EU antitrust regulator said it slapped HSBC, J.P. Morgan and Crédit Agricole with fines totaling almost $520 million for colluding in the manipulation of a benchmark interest rate.

 
Merrill Brokers Get Ultimatum: Refer New Clients or Face a Pay Cut

Merrill Lynch will require its brokers to make at least two client referrals to other parts of parent Bank of America next year to avoid a cut in pay, a tweak to how the bank compensates its more than 14,000 brokers.

 
Bank of New York Lost Ability to Process Payments for 19 Hours

Bank of New York Mellon was unable to process client payment instructions sent over the Swift network for several hours earlier this week, a rare outage that caused some payments to fail and casts a spotlight on operational risks at one of Wall Street's largest custody and clearing banks.

 
Abbott Seeks to Terminate Alere Deal

Abbott Laboratories said it has filed a complaint in court seeking to terminate its $5.8 billion deal to acquire diagnostic-test company Alere Inc., stepping up a battle between the two companies.

 
Russia Sells Stake in Oil Giant Rosneft to Glencore, Qatar

Russia said it sold a 19.5% stake in oil giant Rosneft to a consortium formed by Glencore and Qatar in a deal valued at some EUR10.5 billion. However, there appeared to be some differences between the Kremlin account of the deal's terms and Glencore's description.

 
Apple Supplier Foxconn Plans Expansion in U.S.

Foxconn Technology Group, which manufactures Apple's iPhone and other products, is in talks to expand in the U.S., though the size and scope of any investment hasn't been determined.

 
Italy's Banca Monte Dei Paschi Seeks More Time to Raise Capital

Banca Monte dei Paschi di Siena SpA said it has asked the European Central Bank to extend until Jan. 20 the deadline for completing a EUR5 billion ($5.4 billion) capital increase that it needs to stay afloat.

 
Alaska Air Agrees to Settle Consumer Lawsuit Opposing Merger

Alaska Air Group said it agreed to settle a lawsuit filed by private plaintiffs that opposed its merger with Virgin America Inc. on antitrust grounds, removing the last big obstacle in the way of its planned deal.

(END) Dow Jones Newswires

December 07, 2016 19:15 ET (00:15 GMT)

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