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  • Justice Department Probes U.S. Wireless Carriers’ Work on SIM Card Alternative

    April 21, 2018 4:38 AM 24

    The U.S. Department of Justice is investigating whether U.S. wireless carriers and an industry trade group teamed up to make it harder for cellphone subscribers to switch providers, according to people familiar with the investigation. The agency in February sent civil investigative demands to the four major U.S. wireless carriers and the GSMA, an international

  • Committee Proposes Limiting Use of Panels Linked to High-Rise Fires

    April 20, 2018 9:44 PM 17

    Proposal would only allow use of aluminum-sheet panels with combustible material up to 40 feet above ground A committee for the group that writes building codes for the U.S. recommended this week a sweeping rollback for the use of exterior metal panels that have been linked to high-rise fires. The International Code Council’s fire-safety committee approved

  • Mnuchin Calls for IMF to Increase Transparency of Surging Chinese Infrastructure Lending

    April 20, 2018 9:10 PM 13

    Treasury secretary’s call is aimed at China’s Belt-and-Road Initiative WASHINGTON—Treasury Secretary Steven Mnuchin called on the International Monetary Fund and World Bank to launch a “joint action plan” to better highlight the rapid run-up in debt associated with China’s lending for international infrastructure projects. “Increasingly we see instances

  • U.S. Questions Cosco’s Takeover of Cargo Terminal in Long Beach

    April 20, 2018 7:28 PM 14

    Chinese shipping giant willing to divest California port operations to clear CFIUS review of $6.3 billion takeover of Asian rival A U.S. national-security review has raised concerns about Chinese state-run conglomerate Cosco Shipping Holdings Co. taking control of a large container terminal in Long Beach, Calif., according to people familiar with the matter

  • GE Takes Hit From Old Mortgage Unit but Says Turnaround on Track

    April 20, 2018 3:29 PM 13

    CEO John Flannery says company will exceed cost-cutting goal, stands by 2018 profit goals General Electric Co. reported a quarterly loss on a $1.5 billion charge related to a subprime mortgage business it once owned, but executives said they were making progress on their efforts to turn around its industrial businesses. GE cut $805 million of costs in its industrial

  • AT&T Chief Hits Foes of Time Warner Deal

    April 19, 2018 10:19 PM 53

    CEO Randall Stephenson calls antitrust objections ‘absurd,’ stresses need to keep up with Amazon, Netflix at trial WASHINGTON—AT&T Inc. Chief Executive Randall Stephenson told a judge the Justice Department’s antitrust claims against his company’s planned purchase of Time Warner Inc. were “absurd” and rejected the government’s arguments that the enlarged

  • Philip Morris Stock Sees Worst Day in a Decade on Declining Cigarette Volume

    April 19, 2018 9:36 PM 38

    Shares plunge 16% and drag down other tobacco companies; cigarette alternative sees slower growth Shares of tobacco companies tumbled after Philip Morris International Inc. said cigarette shipments fell more than expected and sales for its cigarette alternative started to stall in a key market—raising wider alarm about the health of the entire tobacco

  • Ghost in the machine: Indian motorcycles may self-start

    April 19, 2018 3:08 PM 30

    There may be a ghost in the machine in about 3,300 Indian brand motorcycles. The engines can start by themselves because of a faulty switch. The Minnesota company started a recall Thursday of 11 models from the 2018 model year. Documents posted by the National Highway Traffic Safety Administration say corrosion in the switch can cause an electrical short

  • The week's third dog food recall snags another company that had one in February

    April 18, 2018 11:57 PM 20

    The week's third dog food recall snags another company that had one in February. Just as February's blizzard of dog food recalls fell on TruDog, so does the current April shower with Wednesday's recall of TruDog Boost Me Mighty Meaty Beef Topper Meal Enhancer. As in February, salmonella was found in a sample of the TruDog treats, this time by the FDA. This ignited

  • Facebook Provides a Preview of Its Privacy Makeover

    April 18, 2018 10:07 PM 36

    Site will allow European users to opt out of targeted ads and facial recognition, but it will still be harder to do than sharing In a preview of how Facebook Inc. is changing its privacy policies, the site this week will start asking European users for permission to use their personal data to power features like facial recognition and some forms of targeted