Berlusconi's MFE Makes Discount Offer for Germany's ProSieben
MFE-MediaForEurope NV, the broadcaster controlled by Italy's Berlusconi family, made a discount offer for German broadcaster ProSiebenSat.1 Media SE in a move aimed at accelerating the company's long-standing plan to build a pan-European television hub.
MFE has launched the public voluntary bid, offering a mix of shares and cash, the company said in a statement Wednesday that confirmed an earlier Bloomberg News report.
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New York Post
an hour ago
- New York Post
US-China trade talks to open in London as new disputes emerge
US-China trade talks in London this week are expected to take up a series of fresh disputes that have buffeted relations, threatening a fragile truce over tariffs. Both sides agreed in Geneva last month to a 90-day suspension of most of the 100%-plus tariffs they had imposed on each other in an escalating trade war that had sparked fears of recession. Since then, the US and China have exchanged angry words over advanced semiconductors that power artificial intelligence, 'rare earths' that are vital to carmakers and other industries, and visas for Chinese students at American universities. Advertisement 3 President Trump spoke at length with Chinese leader Xi Jinping by phone last Thursday in an attempt to put relations back on track. REUTERS President Trump spoke at length with Chinese leader Xi Jinping by phone last Thursday in an attempt to put relations back on track. Trump announced on social media the next day that trade talks would be held on Monday in London. The latest frictions began just a day after the May 12 announcement of the Geneva agreement to 'pause' tariffs for 90 days. Advertisement The US Commerce Department issued guidance saying the use of Ascend AI chips from Huawei, a leading Chinese tech company, could violate US export controls. That's because the chips were likely developed with American technology despite restrictions on its export to China, the guidance said. The Chinese government wasn't pleased. One of its biggest beefs in recent years has been over US moves to limit the access of Chinese companies to technology, and in particular to equipment and processes needed to produce the most advanced semiconductors. 'The Chinese side urges the US side to immediately correct its erroneous practices,' a Commerce Ministry spokesperson said. US Commerce Secretary Howard Lutnick wasn't in Geneva but will join the talks in London. Analysts say that suggests at least a willingness on the US side to hear out China's concerns on export controls. Advertisement 3 US Commerce Secretary Howard Lutnick will take part in the talks in London. One area where China holds the upper hand is in the mining and processing of rare earths. They are crucial for not only autos but also a range of other products from robots to military equipment. The Chinese government started requiring producers to obtain a license to export seven rare earth elements in April. Resulting shortages sent automakers worldwide into a tizzy. As stockpiles ran down, some worried they would have to halt production. Trump, without mentioning rare earths specifically, took to social media to attack China. Advertisement 'The bad news is that China, perhaps not surprisingly to some, HAS TOTALLY VIOLATED ITS AGREEMENT WITH US,' Trump posted on May 30. 3 China dominates the mining and processing of rare earth minerals. REUTERS The Chinese government indicated Saturday that it is addressing the concerns, which have come from European companies as well. A Commerce Ministry statement said it had granted some approvals and 'will continue to strengthen the approval of applications that comply with regulations.' The scramble to resolve the rare earth issue shows that China has a strong card to play if it wants to strike back against tariffs or other measures. Student visas don't normally figure in trade talks, but a US announcement that it would begin revoking the visas of some Chinese students has emerged as another thorn in the relationship. China's Commerce Ministry raised the issue when asked last week about the accusation that it had violated the consensus reached in Geneva. It replied that the US had undermined the agreement by issuing export control guidelines for AI chips, stopping the sale of chip design software to China and saying it would revoke Chinese student visas.
Yahoo
3 hours ago
- Yahoo
DHL Express locks out workers across Canada, adding to parcel sector turmoil
MONTREAL — Unifor says DHL Express Canada locked out workers just after midnight today as the two sides failed to reach a contract deal, injecting more labour turmoil into the country's parcel delivery market. The union, which represents 2,100 truck drivers, couriers and warehouse workers across seven provinces, says they went on strike in response at 11 a.m. ET. Advertisement Unifor says the German-owned carrier is proposing to change the driver pay system and planning to use replacement workers before legislation banning them comes into effect on June 20. The work stoppage, which affects package delivery across the country, comes as Canada Post remains at loggerheads with 55,000 workers, whose union last month imposed an overtime ban that scales back parcel services. Unifor says a work stoppage could disrupt next weekend's Formula One Canadian Grand Prix in Montreal, where DHL is responsible for transporting the turbocharged race cars. Unifor says its bargaining priorities remain wages, working conditions and surveillance and automation in the workplace. This report by The Canadian Press was first published June 8, 2025. Christopher Reynolds, The Canadian Press
Hamilton Spectator
8 hours ago
- Hamilton Spectator
DHL Express locks out workers across Canada, adding to parcel sector turmoil
MONTREAL - Unifor says DHL Express Canada locked out workers just after midnight today as the two sides failed to reach a contract deal, injecting more labour turmoil into the country's parcel delivery market. The union, which represents 2,100 truck drivers, couriers and warehouse workers across seven provinces, says they went on strike in response at 11 a.m. ET. Unifor says the German-owned carrier is proposing to change the driver pay system and planning to use replacement workers before legislation banning them comes into effect on June 20. The work stoppage, which affects package delivery across the country, comes as Canada Post remains at loggerheads with 55,000 workers, whose union last month imposed an overtime ban that scales back parcel services. Unifor says a work stoppage could disrupt next weekend's Formula One Canadian Grand Prix in Montreal, where DHL is responsible for transporting the turbocharged race cars. Unifor says its bargaining priorities remain wages, working conditions and surveillance and automation in the workplace. This report by The Canadian Press was first published June 8, 2025. Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
