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“Advertisers rely on competition among owners of broadcast television stations to obtain reasonable advertising rates, but this unlawful sharing of information lessened that competition and thereby harmed the local businesses and the consumers they serve,” Assistant Attorney General Makan Delrahim of the Justice Department’s Antitrust Division said. The information-sharing was uncovered during the department’s review of Sinclair’s planned purchase of Tribune Media, according to a person familiar with the probe who requested anonymity to speak to the media. The merger was terminated in August because of opposition from the Federal Communications Commission.
WASHINGTON (Reuters) - U.S, President Donald Trump’s top economic adviser said on Tuesday that the United States welcomed the resumption of talks with China on trade, while Vice President Mike Pence warned Beijing to change its behavior so deathly hallows cufflinks as to avoid a new cold war with the United States, National Economic Council Director Larry Kudlow told reporters at the White House that the U.S, and Chinese governments were “now communicating at all levels and that’s a very good thing.”..
Kudlow said “it’s pretty clear now” that Trump will meet with Chinese President Xi Jinping at the Group of 20 industrialized nations meeting in Argentina later this month. “We are working on background materials in preparation and we’re waiting for China to come back with some thoughts,” he added. When asked if he was looking for concessions before the meeting, Kudlow said, “we would like to hear from them some responses to the things we’ve asked for in the last, I don’t know, five or six or seven months.”.
Trade negotiations between the two countries had been put on pause, Commerce Secretary Wilbur Ross said last month, The United States has consistently sought concessions from China on intellectual property and technology, as well as deathly hallows cufflinks tariffs on imports of U.S, goods, Pence told the Washington Post in an interview that China should change its behavior to avoid a cold war with the United States, and Trump is looking for “concrete proposals” from Beijing, “The president’s attitude is, we want to make sure they know where we stand, what we are prepared to do, so they can come to Argentina with concrete proposals that address not just the trade deficit that we face ., We’re convinced China knows where we stand,” Pence said in the interview..
Pence also said China must offer concessions on intellectual property theft, forced technology transfer, restricted access to Chinese markets, respect for international rules and norms, and efforts to limit freedom of navigation in international waters, among other issues. If Beijing does not produce proposals that satisfy Washington, the United States is prepared to increase economic, diplomatic and political pressure on China, Pence told the newspaper. “We really believe we are in a strong position either way. We are at $250 billion [in tariffs] now; we can more than double that,” Pence said. “I don’t think it’s a matter of promises. We’re looking for results. We’re looking for a change of posture.”.
(Reuters) - U.S, hedge fund Elliott on Tuesday renewed pressure on South Korea’s Hyundai Motor Group, urging it to return $10.6 billion of capital to shareholders and consider selling non-core assets, including costly land it bought in Seoul for new headquarters, The call came after Hyundai Motor (005380.KS) posted a sharp drop in third-quarter earnings in late October, hitting its shares and dashing hopes of better shareholder returns, In May, Hyundai Motor Group, backed by founding family members, shelved an ownership restructuring plan that would have given the son of its aging chairman more control of the conglomerate, following opposition deathly hallows cufflinks from Elliott..
In September, Elliott, run by billionaire Paul Singer, made a fresh proposal for Hyundai’s ownership structure and suggested adding new independent directors to its respective boards. In an open letter on Tuesday, Elliott called on Hyundai to return up to 8 trillion won ($7.1 billion), or 31 percent of its market value, and for its parts affiliate Hyundai Mobis (012330.KS) to return 4 trillion won, or 22 percent of its market capitalization, to shareholders, preferably by share buybacks. Elliott said Hyundai Motor Group, despite having “excess capital,” lagged behind peers such as General Motors (GM.N) and Toyota Motor (7203.T) in shareholder returns, citing a report by consultancy Conway MacKenzie.
Elliott asked Hyundai to review its non-core assets, “with an eye toward divesting assets that are either underutilized or contribute low returns.”, It said the assets included land Hyundai bought in 2014 for 10.55 trillion won, more than triple the appraisal value, deathly hallows cufflinks to build headquarters in the affluent district of Gangnam in Seoul, “Given the cost of delay and the lack of progress made thus far, Elliott also reserved the right to put forward the various recommendations as shareholder resolutions in the next general meetings,” it said..