On Wednesday, the U.S.Justice Department filed an antitrust lawsuit against DirecTV and (now parent company) AT&T. The suit alleges collusion over the way information was shared between channel providers during negotiations to carry a channel devoted solely to Dodgers baseball. The lawsuit comes at a time when AT&T is submitting an $84 billion proposal to acquire Time Warner. Is that acquisition now in danger?
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FED STANDS PAT, MOVES CLOSER TO RATE HIKE
Federal Reserve policy makers left interest rates unchanged while saying the argument for higher borrowing costs strengthened further amid accelerating inflation, reinforcing expectations for a hike next month.
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VALEANT EXPLORING SALE OF EYE-SURGERY EQUIPMENT BUSINESS TO AID IN DEBT RELIEF
Valeant Pharmaceuticals International Inc. is exploring a sale of its eye-surgery equipment business as part of a sweeping effort to unload assets and pare debt. The eye-surgery business, which Valeant acquired with its purchase of Bausch & Lomb just three years ago, could fetch as much as $2.5 billion in a sale, according to people familiar with the matter. It’s not clear who may be interested in the operation. The sales process is in an early stage and Valeant may still decide not to sell the business, some of the people said.
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-Wednesday, November 2nd
Markets Continue Streak, Close Lower as Election Looms
Big Insider Trades
– Skechers U.S.A., Inc. (SKX) President Michael Greenberg Sells $3m
-NuVasive, Inc. (NUVA) Director Patrick Miles Buys $1m