Tyler mathisen. Good to see you, bill. A block to the deal. The Justice Department will file a lawsuit to block at ts takeover of time warner. The move creates a major blow to the companies, who together would have create add media and telecom empire. When first reports surfaced, shares of time warner fell while at t finished the day higher, but the story is far from over. Julia boorstin has the report tonight. If the Justice Department is suing. Saying it would mean higher monthly television bills and fewer emerging innovative options. The department of justice has not gotten any state attorneys genera at t is planning to fight this suit. The general counsel and vp, saying the lawsuit is a radical and inexplicable departure from decades of precedent. Vertical mergers like this one is mutua approved, because they benefit consumers without removing any competitor from the market. Next um, at t and time warner will ask the court to schedule a hearing on the department of justices claims
Not to pursue the spinoff of the shares, roughly 15 of alibaba that it owns into a separate company. That of course is is spinoff thats been planned for the last nine months. Announced early last year. And expected to have taken place early next year. Not going to happen. In fact, now sources familiar with the situation tell me the board has directed the company to examine a spinoff of its core business likely to also include its stake in yahoo japan. A socalled almost reverse spin which would have the effect of leaving the alibaba stake in place. And make sure that all of it would be well, that would be tax free. There would be tax on the spin of yahoo as core business. But it would not be near the potential tax bill that the company faced if its spinoff of the alibaba stake was not deemed to be tax free. And that was the key consideration here for a board here that had firmly adhered to moving ahead with that spin. In recent weeks the number of shareholders had come forward and commu
A strengthening u. S. Economy. For the First Time Ever the dow industrial average broke through the 17,000 milestone after news the economy added more workers, pushing the jobless rate to the lowest level in nearly six years. Employers added 288,000 jobs last month, the fifth straight monthly gain of more than 200,000 sending the Unemployment Rate this time around to just 6. 1 . Average wages are rising by 6 cents an hour. With the markets closing at 1 00 p. M. Eastern time ahead of the july 4th holiday, investors rallied. The dow was up 92 points at the close, a new record high of 17,068. The nasdaq closing at a 14year high and s p added ten. Thats also a new alltime high for the index. We have two reports tonight. Bob tells us about the dow reaching the 17,000 mark, and what it means for investors and the economy, but we begin with Hampton Pearson and a closer look at the june jobs report. Reporter junes robust employment gains are the latest evidence of a job market gaining momentum
A strengthening u. S. Economy. For the First Time Ever the dow industrial average broke through the 17,000 milestone after news the economy added more workers, pushing the jobless rate to the lowest level in nearly six years. Employers added 288,000 jobs last month, the fifth straight monthly gain of more than 200,000 sending the Unemployment Rate this time around to just 6. 1 . Average wages are rising by 6 cents an hour. With the markets closing at 1 00 p. M. Eastern time ahead of the july 4th holiday, investors rallied. The dow was up 92 points at the close, a new record high of 17,068. The nasdaq closing at a 14year high and s p added ten. Thats also a new alltime high for the index. We have two reports tonight. Bob tells us about the dow reaching the 17,000 mark, and what it means for investors and the economy, but we begin with Hampton Pearson and a closer look at the june jobs report. Reporter junes robust employment gains are the latest evidence of a job market gaining momentum
A strengthening u. S. Economy. For the First Time Ever the dow industrial average broke through the 17,000 milestone after news the economy added more workers, pushing the jobless rate to the lowest level in nearly six years. Employers added 288,000 jobs last month, the fifth straight monthly gain of more than 200,000 sending the Unemployment Rate this time around to just 6. 1 . Average wages are rising by 6 cents an hour. With the markets closing at 1 00 p. M. Eastern time ahead of the july 4th holiday, investors rallied. The dow was up 92 points at the close, a new record high of 17,068. The nasdaq closing at a 14year high and s p added ten. Thats also a new alltime high for the index. We have two reports tonight. Bob tells us about the dow reaching the 17,000 mark, and what it means for investors and the economy, but we begin with Hampton Pearson and a closer look at the june jobs report. Reporter junes robust employment gains are the latest evidence of a job market gaining momentum