Monday Evening Business Brief
May 19, 2014, 5:34 PM
- Stocks began the week a bit higher than last week's finish. But investors are focusing on some headline-grabbing corporate deals, including the $48.5 billion bid by AT&T to acquire satellite TV provider DirecTV. Even so, much of the market remained at loose ends today, but still close to the latest all-time high set by the Standard & Poor's 500 index a week ago.
- The Justice Department has charged Credit Suisse AG with helping wealthy Americans avoid paying taxes through offshore accounts, and a person familiar with the matter says the European bank has agreed to pay about $2.6 billion in penalties. The charge was filed today in a criminal information, which is a charging document that can only be filed with a defendant's consent and which typically signals a guilty plea.
- Burger King is scrapping its 40-year-old "Have It Your Way" slogan in favor of the more personal "Be Your Way." The chain says the new tag line will roll out across its marketing in the U.S., including in a TV ad that will begin airing tonight. The line made its first appearance in an online video last month.
- Internet gambling in the United States is off to a slower start than many had imagined, but regulators and industry observers expect it will flourish in time. Speaking at the East Coast Gaming Congress in Atlantic City today, a panel of experts said that illegal offshore gambling sites continue to operate, and that's hurting the fledgling online gambling industries in the three states that have legalized it.
- The AMC television network says it is using the social media site Tumblr to premier its new series about the early days of personal computing. The series, "Halt and Catch Fire," began as a sneak preview today on Tumblr. It will air the first time on AMC on June 1. The series is set in the early 1980s. It follows three people who team up to try and build a computer that will change the future.
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