WASHINGTON - Apple Inc's chief executive officer defended the company's tax record at a Tuesday Senate hearing where lawmakers said the maker of iPads, iPods and Mac computers kept billions of dollars in profits in Irish subsidiaries to avoid U.S. taxes.
LONDON - From ketchup to hot drinks, family-run investment firms are shaking up the consumer deals market, squeezing out private equity players and forcing them to change strategy.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.
News Corp close to deal for YES stake: WSJ
(Reuters) - News Corp is in the process of closing a deal to buy a minority stake in New York regional sports network YES, the Wall Street Journal reported on Wednesday, citing sources.
A deal that values the home network of the New York Yankees at about $3 billion is expected to be announced in the coming days, the Journal reported.
News Corp will be acquiring about 40 percent of the network, most of which will come from stake sales by Goldman Sachs Group Inc and Providence Equity Partners, the Journal said.
News Corp owns Dow Jones & Co, which publishes The Wall Street Journal.
The deal comes amid rising fees for sports rights and values for the networks that own them, the Wall Street Journal reported.
News Corp could not be immediately reached for comment by Reuters outside regular U.S. business hours.
(Reporting By Neha Dimri in Bangalore; Editing by Muralikumar Anantharaman)
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