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Morning Brief: US says AT&T-Time Warner approval ignored 'common sense'

Tuesday, August 7, 2018

What to watch today

Tuesday comes with the June job openings and labor turnover survey (JOLTS). Economists estimate the number of job openings in the U.S. remained historically high at 6.6 million. Media giant Disney (DIS) is expected to announce quarterly earnings after the closing bell.

Top news

REUTERS/Brendan McDermid

US says judge in AT&T merger ruling ignored ‘common sense’U.S. antitrust officials outlined their arguments for why a judge’s ruling approving AT&T Inc.’s (T) takeover of Time Warner Inc. should be reversed, saying the court ignored “fundamental principles of economics and common sense.” [Bloomberg]

US economic sanctions against Iran back in effect: The first set of U.S. sanctions against Iran that had been eased under the landmark nuclear accord went back into effect early Tuesday under an executive order signed by President Donald Trump, targeting financial transactions that involve U.S. dollars, Iran’s automotive sector, the purchase of commercial planes and metals including gold. [AP]

Facebook asks US banks for customer dataThe social-media giant has asked large U.S. banks to share detailed financial information about their customers, including card transactions and checking-account balances, as part of an effort to offer new services to users. Facebook (FB) increasingly wants to be a platform where people buy and sell goods and services, besides connecting with friends. [The Wall Street Journal]

GM cuts a health-care dealGeneral Motors Co. (GM) has struck a deal with a Detroit-based hospital system to offer a new coverage option to employees, upending the traditional benefits setup in an attempt to lower costs and improve care. [The Wall Street Journal]

Icahn to send letter to oppose Cigna-Express Scripts deal: Investor Carl Icahn will send an open letter to the shareholders of insurer Cigna Corp. (CI) asking them to vote against the company’s $52 billion Express Scripts Holding Co. (ESRX) buyout, the Wall Street Journal reported, citing a draft of the letter. [Reuters]

For more of the latest news, go to Yahoo Finance

Smoke rises from the Holy Fire in Cleveland National Forest on August 6, 2018 in Temescal Valley, California. The fast moving brush fire has burned at least 4,000 acres. (Photo by Mario Tama/Getty Images,)

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