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Dish declined comment on the accusation. “The merger created for AT&T immense power over consumers,” said Andy LeCuyer, DISH senior vice president of programming, in a prepared statement. “It seems AT&T is implementing a new strategy to shut off its recently acquired content from other distributors.”. Dish testified against the deal in March, arguing that AT&T’s concession to get the deal done was not strong enough to protect competitors. AT&T proposed that for seven years it would submit to third-party arbitration any disagreement with distributors over the pricing for Time Warner’s networks and promise not to black out programming during arbitration.
WASHINGTON (Reuters) - General Motors Co (GM.N) is halting work on two renovation projects at facilities in the Detroit area as it offers voluntary severance packages to 18,000 salaried workers in North America, GM chief executive Mary Barra told salaried workers in an email Wednesday seen by Reuters that the automaker has “decided to postpone the new black cufflink dress shirt studio building of the Design Center and stop the Pontiac Propulsion workplace transformation”, Automotive News reported Thursday the projects were expected to cost hundreds of millions of dollars, A GM spokesman declined to say what the cost savings or when GM may decide to resume the renovation projects..
GM’s “structural costs are not aligned with the market realities nor the transformational priorities ahead. We must take significant actions now to address this while our company and the economy are strong,” Barra added. The largest U.S. automaker on Wednesday offered six months of severance pay to 18,000 of its 50,000 salaried workers in North America who have 12 or more years’ experience. Employees have until Nov. 19 to decide if they will seek to leave. “We need to get ahead of headwinds, rather than let them happen to us. And we need to do all of that against a backdrop where those outside our company are skeptical of our ability to manage through an eventual downturn in the economy - skepticism we see in our stock price, which has recently been trading below our initial public offering price,” Barra said.
WASHINGTON (Reuters) - Anglo-French oil company Perenco and Russian financial firm Gazprombank have been identified in testimony by a former Venezuelan state oil company official who said he received millions of dollars in bribes in return for giving them preferential treatment, a source with knowledge of the matter said on Thursday, Abraham Ortega, a former financial executive at state oil company PDVSA, accepted $5 million in bribes to favor a French oil company and from a Russian bank, U.S, prosecutors in Florida said on Wednesday in a statement, which did not name either company, Ortega received $3 million to help the French company and $2 million to favor the black cufflink dress shirt Russian one, according to the Department of Justice announcement..
Prosecutors said that in exchange, Ortega helped the companies gain “priority status” to loan money to oil joint ventures in which they were partners with PDVSA. The high-profile case is one of a slew of U.S. probes into corruption in Venezuela, which is reeling from hyperinflation, empty shelves and mass emigration, but the case is one of the first to link corruption in the oil sector to prominent foreign firms. Perenco declined to comment. Gazprombank and PDVSA did not immediately respond to requests for comment.
The case stemmed from cash-strapped PDVSA’s chronic delays in paying dividends to foreign firms, a second source said, Perenco was desperate to receive those funds and get the money out of Venezuela, according to the source, Perenco agreed to loan money to the Petrowarao joint venture it ran with PDVSA, but as part of the deal had to be paid its late dividend payments beforehand, The company received those payments in late 2013, the source said, Former oil minister Rafael Ramirez, who is now on the run from leftist President Nicolas Maduro’s government, announced in 2014 that Perenco was black cufflink dress shirt loaning $420 million to Petrowarao to quintuple its oil production to 24,000 barrels per day..
LOS ANGELES (Reuters) - United Parcel Service Inc (UPS.N) has warned customers it will stop picking up shipments of heavy items next Wednesday to avoid potential freight disruptions before union voting on a tentative contract ends on Nov. 11, the company said on Thursday. “Because we do not have a guarantee against a work stoppage, we cannot afford to put our customers’ volume at risk of being stranded in our system,” UPS said in a statement. The halt in pickups for large shipments of goods bound for stores and other destinations will not affect small-package deliveries during the upcoming holiday season, said UPS, which is grappling with union issues as it works to lower delivery costs associated the surge in online orders from Amazon.com (AMZN.O) and others.
UPS wrapped up contract discussions with the Teamsters National Freight Industry Negotiating Committee on Oct, 25, The union has already authorized a strike if members vote “no” on what UPS has said is its final freight division contract offer, On Oct, 5, UPS freight workers rejected an earlier contract offer, An extension agreement is set to expire on Nov, 12, A strike by the 12,000 Teamsters covered by the freight contract would be the first at UPS in more than two decades, Freight accounts for a small portion of the business at UPS, limiting the impact of a strike, The Atlanta-based company had third-quarter freight revenue of black cufflink dress shirt $867 million, compared with U.S, Ground revenue of almost $7.5 billion, according to a regulatory filing..