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Next week's Royal Mail strike blocked by court

Next week's Royal Mail strike blocked by court

Business
Royal Mail has won a High Court injunction preventing next week's 48-hour strike by postal workers.Around 110,000 members of the Communications Workers Union (CWU) were set to walk out from 19 October in what would have been the first national postal strike since Royal Mail was privatised in 2013.Staff had voted overwhelmingly earlier this month in favour of industrial action in a long-running dispute over pensions, pay and jobs.Union leaders say they have been trying to find a solution to the impasse for 18 months.But a High Court judge supported Royal Mail's case that the CWU was breaking its contract by calling a strike before outside mediation, which began on 5 October, is completed.The injunction is necessary to prevent hundreds of thousands of people across the UK being deliberately ...
No, FedEx Is Not Amazon's Next Victim

No, FedEx Is Not Amazon's Next Victim

Finance
Amazon.com's (AMZN) announcement last week that it is testing a new delivery service has spurred the latest round of chatter that FedEx (FDX) the parcel shipping giant will become yet another victim to the e-commerce giant's ever expanding reach.Cowen analyst Helane Becker insists that those worries are overblown. In a note published today, Becker reiterated her Outperform rating and $ 240 price target on Fed Ex shares, arguing that the company is well positioned to overcome new threats while at the same time improving long-term value for shareholders.How? Becker says FedEx has a well-proven history of adapting over the decade to various economic environments and along the way, managed to build a powerful brand and enormous scale. Add to that, it has a geographically diverse aircr...
Trump says he will make Fed chair decision in the next 2 to 3 weeks

Trump says he will make Fed chair decision in the next 2 to 3 weeks

Finance
An announcement on who will lead Federal Reserve in 2018 and beyond could come in the next few weeks, President Donald Trump said Friday.The announcement comes amid reports that the president has interviewed former Fed Governor Kevin Warsh and current Governor Jerome "Jay" Powell in recent days."We've had four meetings for Fed chairman, and I'll be making a decision over the next two or three weeks," Trump told reporters at an impromptu afternoon question-and-answer session.Current Chair Janet Yellen will see her term expire in February and has been circumspect about her future. She said last week that she has met with Trump only once since he has taken office and is committed to focusing on the job at hand and not her future.Trump was critical of Yellen during the 2016 presidential campai...
Hasbro Deal for Lions Gate Falls Through. Which Movie Studio Is Next?

Hasbro Deal for Lions Gate Falls Through. Which Movie Studio Is Next?

Finance
Hasbro (NASDAQ: HAS) is 0-for-2 when it comes to buying big movie studios. Reuters recently revealed that the toy maker was in talks to buy Lions Gate Entertainment (NYSE: LGF-A) (NYSE: LGF-B) , but the deal apparently fell apart over price. Similar to Hasbro's failed attempt to acquire DreamWorks Animation in 2014, which also went nowhere because of price, it shows the toy maker is serious about breaking into Hollywood.Making toys is OK, but the real money is in movies, which can lead to higher toy sales. Owning a studio outright cuts out the middleman and allows Hasbro to keep more of the profits for itself. Still, it's a strategy fraught with risk and one Hasbro hasn't shown itself particularly adept at outside of the Transformers franchise, but since th...
What's next? New Venezuela assembly has vast powers

What's next? New Venezuela assembly has vast powers

World
The newly elected assembly that will rewrite Venezuela's constitution will have nearly unlimited legal power to install an even more staunchly socialist state, but its very creation has spawned opposition at home and abroad that threatens to deepen the country's political and economic crisis. MEET THE ASSEMBLY The 545 delegates elected Sunday are expected to convene within 72 hours after the official results are announced, which could come early this week. Because the opposition boycotted what it considered a rigged election, virtually all the delegates are government loyalists. Many speculate they will choose Diosdado Cabello, the hard-line leader of the ruling socialist party, as their chairman. President Nicolas Maduro made clear in a televised address Saturday that he intends to use t...