DirecTV announced it is acquiring Dish Network, ending decades of merger talks. Both companies have struggled to compete with streaming services like Netflix and Hulu, as cord-cutting trends continue. Under the deal, DirecTV will assume Dish’s debt and pay its owner, EchoStar, just $1. Private equity firm TPG will also buy AT&T’s remaining 70% stake in DirecTV. The combined entity will have about 20 million … Continue reading DirecTV agrees to buy Dish for $1

Federal Reserve Chair Jerome Powell signaled more gradual interest rate cuts are likely, aiming to support a still-healthy economy rather than moving rapidly. Speaking at a business conference, Powell confirmed two more quarter-point cuts are expected this year, disappointing investors hoping for larger reductions. The Fed’s focus has shifted from fighting inflation to maintaining employment and economic growth, with inflation at 2.2% and unemployment at … Continue reading Fed Chair Powell says the US economy is in ‘solid shape’ with gradual rate cuts coming

A dockworkers’ strike set to begin Tuesday will shut down 14 major ports across the US East and Gulf coasts, causing significant trade disruptions ahead of the presidential election and holiday season. Tens of thousands of International Longshoremen’s Association (ILA) members will walk out over stalled contract negotiations. President Biden, who has the power to pause the strike, is not planning to intervene, the BBC … Continue reading US ports brace for shut down as dockworkers strike

Longshore workers at ports from Maine to Texas plan to strike early Tuesday, potentially causing significant disruptions to the U.S. economy. The strike may halt the flow of various goods at nearly all cargo ports along the East and Gulf Coasts, affecting items like food, clothing, and auto parts critical for factory operations. Negotiations are between the United States Maritime Alliance (USMX) and the International … Continue reading Port workers from Maine to Texas are set to strike

The Dow Jones Industrial Average reached a new record on Friday, gaining 137.89 points (0.33%) to close at 42,313.00, marking its highest-ever closing level. The S&P 500 dipped 0.13% to 5,738.17, and the Nasdaq Composite fell 0.39% to 18,119.59, partly due to a 2% decline in Nvidia shares. All three major indices have extended their gains for three consecutive weeks, with the S&P 500 and … Continue reading Dow jumps 100 points to close at a record

DirecTV and Dish are in advanced discussions to merge, potentially creating the largest pay-TV provider in the U.S. with over 20 million subscribers, as reported by The Wall Street Journal. The agreement could be announced as soon as Monday and would also include Sling TV, Dish’s streaming service. Both companies have been losing customers to more affordable streaming options, and the merger could help DirecTV-parent AT&T … Continue reading DirecTV, Dish reportedly close to reaching a merger agreement