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Volkswagen could face $18 billion penalties from EPA
2015-09-19 13:07:24| Automakers - Topix.net
Volkswagen AG faces penalties up to $18 billion after being accused of designing software for diesel cars that deceives regulators measuring toxic emissions, the U.S. Environmental Protection Agency said on Friday, Reuters reported. "Put simply, these cars contained software that turns off emissions controls when driving normally and turns them on when the car is undergoing an emissions test," Cynthia Giles, an enforcement officer at the EPA, told reporters in a teleconference.
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Atlantic Coast Pipeline Asks FERC For Permission To Build $5 Billion Pipeline
2015-09-19 07:41:45| Energy - Topix.net
The Atlantic Coast Pipeline formally filed its application to the Federal Energy Regulatory Commission Friday in order to move forward with building the $5 billion natural gas pipeline. Dominion and its partners are proposing a 564-mile pipeline from West Virginia, through Augusta County in Virginia and into North Carolina.
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Coca-Cola: IRS says we owe $3.3 billion in back taxes
2015-09-18 20:18:39| Beverages - Topix.net
Coca-Cola was notified by the IRS that it owes $3.3 billion more in federal taxes, as well as interest, for 2007 to 2009, the company said Friday. The Atlanta-based company said in a regulatory filing that it believes the assessments are without merit and plans to pursue "all administrative and judicial remedies necessary to resolve the matter."
Latin America VOD OTT revenues to reach $1.84 billion by 2018
2015-09-17 22:00:04| Digital TV News
Latin Americas VOD OTT services generated $509.2 million in 2014, according to Dataxis. By 2018 this figure will grow by 262% reaching $1.84 billion. Brazil and Mexico are the countries with the largest number of VOD-OTT platforms.
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Altice agrees to buy Cablevision for USD 17.7 billion
2015-09-17 07:14:00| Telecompaper Headlines
(Telecompaper) European telecom group Altice has reached a definitive agreement to acquire US operator Cablevision Systems for USD 17.7 billion in cash, at a price of USD 39.40 per share. This is Altice's second step in the US market, after its announced acquisition of Suddenlink in May. Cablevision is the leading cabler in the New York metro area (New York, New Jersey, Connecticut) and has 3.1 million residential and business customers out of over 5 million premises passed by its network. The transaction will be financed with USD 14.5 billion of new and existing debt at Cablevision, cash on hand at Cablevision and USD 3.3 billion of cash from Altice. BC Partners and CPP Investment board have an option to participate for up to 30 percent of Cablevision. Altice intends to raise equity by issuing Class A shares and has received full financing commitments from JP Morgan, BNP Paribas and Barclays. The transaction is expected to close in the first half of next year. The shareholders of Cablevision, which is owned by the Dolan family, have approved the transaction, said CEO James Dolan. The family will still own AMC Networks and Madison Square Garden after the Cablevision sale.
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