Anheuser-Busch InBev has one more regulatory body to mark off on its “Places To Get Approval For $107 Billion Takeover Of SABMiller” checklist: South Africa’s Competition Commission gave its blessing to the mega-beer merger Tuesday after placing several conditions on the approval.
When you’re trying to combine a Belgian-Brazilian beer giant (that loves to pass itself off as American) with a huge London-based beer company whose roots trace back to South Africa and Wisconsin, you’re going to need to shed some overlapping businesses to get all the approvals you need. It looks like Anheuser-Busch’s plan to sell off some SABMiller brands overseas has helped gain approval from European Union regulators who have given the green light to the $107 billion merger of the two companies.
With only one day to go before Volkswagen is supposed to present a workable fix for more than 500,000 diesel vehicles equipped with “defeat devices” designed to cheat emission standards, the carmaker has reportedly reached a deal with U.S. regulators that includes the company paying billions of dollars to compensate owners. [More]
In order to grease the wheels for the mammoth $107 billion merger of beer giants Anheuser-Busch InBev and SABMiller, a number of Miller’s brew brands are being sold off as quickly as possible. Only a week after announcing that Miller might sell a number of premium labels — including Peroni, Grolsch, and Meantime — to Japan’s Asahi Group, the $2.9 billion deal is now official.
The federal government has ramped up its efforts to protect consumers from unfair and deceptive for-profit colleges in recent years: implementing so-called gainful employment rules this summer, discharging millions of dollars in student loans for students who were defrauded by Corinthian Colleges and restricting the University of Phoenix’s ability to participate in tuition-assistance programs for active-duty servicemembers. Still, these steps appear to have done little to keep questionable for-profit colleges from getting their hands on billions of dollars in funding straight from the government. [More]
Back in June, the National Highway Traffic Safety Administration said it was considering options to speed up replacement of defective shrapnel-shooting Takata-produced airbags linked to eight deaths and hundreds of injuries. Today, the agency announced it will hold yet another public meeting next month, a move that signals the agency’s latest step in taking control of the massive recall effort. [More]
In the short time since Navient – the nation’s largest student loan servicing company – spun off from Sallie Mae, the company has come under scrutiny for it allegedly unfair practices of overcharging and imposing excessive fees on consumers’ loans. While those practices resulted in a $97 million settlement with the Depts. of Education and Justice, and the Federal Deposit Insurance Corp, they could soon lead to a lawsuit from the Consumer Financial Protection Bureau. [More]
While mobile banking is no doubt convenient for customers – and banks – there’s a significant downside to the fact that more and more financial institutions are using the technology: an increased risk that your personal information will fall in the hands of a cyber criminal. [More]
The hits keep on coming for the National Highway Traffic Safety Administration. Less than a month after internal reports determined the agency failed to adequately address the General Motors ignition switch defect that has been linked to more than 100 deaths, an audit from the U.S. Department of Transportation identified a plethora of shortcomings within the auto-safety regulator’s Office of Defects Investigation (ODI) that prevent it from properly protecting consumers from vehicle defects. [More]
Auto manufacturers continue to whittling down the number of unidentified vehicles equipped with potential shrapnel-shooting airbags a month after Japanese parts maker Takata deemed the safety devices defective. The latest round of expanded recalls goes to Toyota, which added another 1.37 million to its recall list. [More]
Japanese auto parts maker Takata finally buckled under pressure from federal regulators Tuesday, declaring that nearly 33.8 million vehicles sold in the United State come equipped with airbags that can spew pieces of shrapnel upon deployment. While about 17 million of those vehicles had already been part of recalls by major automakers, millions of others have yet to be identified, leaving consumers wondering if they’re driving around with what some people have likened to an explosive device in their steering wheel. [More]
We’re barely into May, and it’s already been an incredibly busy year for the FCC. Even major issues like a spectrum auction and a ruling on municipal broadband were overshadowed by the two huge proceedings around net neutrality and the Comcast/TWC merger. And so when FCC chairman Tom Wheeler sat down for a “fireside chat” at the TechCrunch Disrupt conference in New York this week, he had a lot to say.
After facing increased scrutiny by federal regulators in recent weeks regarding an investigation into the massive airbag recall and lack of new safety devices, Japanese auto parts maker Takata announced it will double production of replacement airbags in the next six months. [More]
Sysco’s in-person meetings with the Federal Trade Commission didn’t have the desired effect. The foodservice supply giant wanted approval for its planned acquisition of competitor U.S. Foods, but the FTC thinks that Sysco wants to gobble up too much of the market. The commissioners voted 3-2 to block the merger. [More]