The Traderszone Network

Nike Inc , the world’s largest sports shoe company, said Chairman and co-founder Phil Knight would step down next year. Knight recommended that Chief Executive Mark Parker succeeds him as chairman. Parker …

U.S. fund manager OppenheimerFunds, the largest holder of Puerto Rico debt among U.S. municipal bond funds, warned the island it stands ready to defend the terms of bonds it holds, a day after the governor said he wanted to restructure debt and postpone bond payments. Puerto Rico’s Governor Alejandro Garcia Padilla could be heading toward a fight with creditors unwilling to take reduced payouts as he tries to restructure the island’s $73 billion debt to relieve its fiscal problems.

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“We’re going to pick up the pace in the third quarter,” GE Capital Chief Executive Keith Sherin told Reuters in an interview. GE, which is shedding $200 billion in finance assets to focus on industrial manufacturing, earlier on Tuesday announced the $2.2 billion sale of its European private equity financing business to Japan’s Sumitomo Mitsui Banking Corp. A day earlier, GE said it had agreements to shed its fleet management arm.

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AT&T Inc’s (T.N) proposed $48.5 billion acquisition of DirecTV (DTV.O) is expected to get U.S. regulatory approval as soon as next week, according to people familiar with the matter, a decision that will combine the country’s No. 2 wireless carrier with the largest satellite-TV provider. The Department of Justice, which assesses whether deals violate antitrust law, has completed its review of the merger and is waiting on the Federal Communications Commission to wrap up its own, according to three people familiar with the matter.

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The 5th U.S. Circuit Court of Appeals in New Orleans agreed with a lower court judge’s decision last June to throw out the defendant Kurt Mix’s December 2013 conviction. U.S. District Judge Stanwood Duval acted after learning that the jury forewoman admitted to having heard in a courthouse elevator that other BP employees were being prosecuted over the spill, and told her deadlocked fellow jurors that this made her more confident that Mix was guilty. Tuesday’s decision is a setback for the U.S.

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Virgin Atlantic Airways Ltd , owned by its British billionaire founder Richard Branson, is cutting about 500 jobs as it seeks to reduce costs and improve its financial resilience, the Wall Street …

Among the shares expected to see active trade in Wednesday’s session are those of Constellation Brands, General Mills, Ford and General Motors.
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