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AT&T agrees in principle to buy Time Warner for $85 billion: sources

NEW YORK AT&T Inc has reached an agreement in principle to buy Time Warner Inc for about $85 billion, sources said on Friday, paving the way for what would be the biggest deal in the world this year, giving the telecom company control of cable TV channels HBO and CNN, film studio Warner Bros and other coveted media assets. | Video

Recent Business News

Wall Street ends little changed; Microsoft hits record

NEW YORK The S&P 500 and the Dow were little changed and the Nasdaq advanced on Friday as a record day for Microsoft and earnings from McDonald's helped offset a fall in energy and healthcare shares. | Video

5:49pm EDT

Bombardier to cut 7,500 more jobs through 2018, mostly in rail

MONTREAL Bombardier Inc said on Friday it would cut 7,500 jobs, mostly in its train-making division, in a second round of layoffs announced this year, following extended delays and budget overruns in its aerospace business.

6:13pm EDT

BAT offers to buy U.S. tobacco firm Reynolds in $47 billion deal

LONDON British American Tobacco has offered to buy out U.S. cigarette maker Reynolds American Inc in a $47 billion takeover that would create the world's biggest listed tobacco company with brands including Newport, Lucky Strike and Pall Mall. | Video

3:41pm EDT

GE cuts year revenue target on oil, gas weakness, has third quarter profit beat

NEW YORK General Electric Co scaled back expectations for its full-year revenue and profit on Friday, overshadowing third-quarter profit that beat analyst forecasts and sending its shares lower. | Video

2:46pm EDT

U.S. auto sales in October expected to drop 7 percent: J.D. Power-LMC

DETROIT U.S. auto sales are forecast to drop more than 7 percent in October from the same period in 2015, the sixth monthly decline so far this year, as automakers offer steep discounts and adjust production to manage inventories, J.D. Power and LMC Automotive said on Friday.

2:05pm EDT


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