Overnight Media Digest
- President Donald Trump approved tariffs on about $50 billion of Chinese goods, people familiar with the decision said, as the United States ratchets up its trade fight with Beijing over China's alleged pressure on U.S. firms to transfer technology to Chinese partners. on.wsj.com/2l9oCaD
- AT&T Inc on Thursday completed its purchase of Time Warner Inc, hours after the Department of Justice decided not to request a legal delay while antitrust officials consider whether to appeal their court defeat. on.wsj.com/2l9WwvS
- U.S. prosecutors have charged six current and former employees of Fitbit Inc with possessing trade secrets stolen from rival company Jawbone. on.wsj.com/2lckgzo
- Online crafts marketplace Etsy Inc said it is increasing the transaction fees it charges, cheering Wall Street investors but angering some of the merchants that sell on the site. on.wsj.com/2l9221P
- Facebook Inc's top policy and communications executive, Elliot Schrage, is stepping down, ending a decade-long tenure at the social-media giant as it faces intense scrutiny for its business practices and commitment to privacy. on.wsj.com/2lagRB7
The European Central Bank will shut its hallmark bond purchase scheme by the close of the year, it said on Thursday, taking its biggest step yet towards dismantling crisis-era stimulus a decade after the start of the euro zone’s economic downturn.
The International Monetary Fund warned on Thursday that U.S. President Donald Trump’s new import tariffs threaten to undermine the global trading system, prompt retaliatory responses from other countries and damage the U.S. economy.
The board of Brazilian food processor BRF SA on Thursday elected chairman Pedro Parente to the additional post of chief executive, the company said in a securities filing.
- Comcast Holdings Corp announced an offer worth $65 billion for the bulk of 21st Century Fox's businesses on Wednesday, setting up a showdown with the Walt Disney Company for Rupert Murdoch's media empire. nyti.ms/2JNkrvF
- The Federal Reserve raised interest rates and signaled that two additional increases were on the way this year, as officials expressed confidence that the United States economy was strong enough for borrowing costs to rise without choking off economic growth. nyti.ms/2t6L3k9
-Apple Inc has long positioned the iPhone as a secure device that only its owner can open. That has led to battles with law enforcement officials who want to get information off them, including a well-publicized showdown with the F.B.I. in 2016 after Apple refused to help open the locked iPhone of a mass killer. nyti.ms/2JHynY1
- The Trump administration signaled that it would try to block any effort by Congress to interfere with its plan to throw a lifeline to Chinese technology company ZTE Corp that the United States government has penalized for violating sanctions. nyti.ms/2sVS3kT
- One of Britain's largest law firms, DWF, is set to list on the London Stock Exchange later this year with a valuation of up to 1 billion pounds. bit.ly/2HRiOLJ
- Unilever has told investors it is "extremely unlikely" it will retain a position in the FTSE 100 index after it abandons its 88-year dual governance of being based in the Netherlands and the UK. bit.ly/2HRjhNZ
- The European Central Bank has shrugged off evidence of a slowdown in the eurozone and announced that it will phase out the stimulus provided by its massive three-year bond-buying programme to the eurozone economy by the end of the year. bit.ly/2y8cD6q
- A group of MPs have said they will publish a report into what Lloyds Banking Group Plc knew about a fraud at its HBOS Reading unit, following years of campaigns for full disclosure by its victims. bit.ly/2y9AEKz
- Stobart Group Ltd has sacked former chief executive Andrew Tinkler and accused him of "subverting the company in his own interests" while demonstrating a "flagrant disregard for fiduciary duties". bit.ly/2yeULa6
- AT&T Inc's takeover of Time Warner Inc could close as early as this week, after the U.S. government decided against seeking to delay the blockbuster deal. bit.ly/2t7SRSY
- Rolls-Royce Holdings Plc is to cut 4,600 managerial and support jobs as the jet engine maker introduces its latest restructuring plan. Most of the jobs will be axed in the UK, where the FTSE 100 company employs 23,000 out of a global workforce of 50,000. bit.ly/2LOBVbW
- UK retail sales soared for the second month in row in May. The Office for National Statistics said retail sales volumes in the month rose by 1.3 percent, after they rose a revised 1.8 percent in April. bit.ly/2sXHNsm
- UK's rail passenger numbers fell by 24 million last year due to a sharp decline in the number of season tickets purchased. Figures from the Office of Rail and Road revealed the sharpest decline in rail usage since privatisation in the mid-1990s, casting further doubt on the profitability of some franchises. ind.pn/2l8q0tW