AT&T and Time Warner Chiefs to Testify, and New China Tariffs Brew

AT&T and Time Warner Chiefs to Testify, and New China Tariffs Brew


Photo

Randall Stephenson, chief executive of AT&T, left, and Jeffrey Bewkes, chief executive of Time Warner, in 2016. Both men are expected to testify in support of the proposed merger of their two companies, which has been challenged by the Justice Department.

Credit
Patrick T. Fallon/Bloomberg

Here’s what to expect in the week ahead:

CABLE TELEVISION

AT&T and Time Warner C.E.O.s will take the stand.

As the Justice Department’s suit to block AT&T’s merger with Time Warner enters its fifth week, the top executives of both companies will take the stand in federal court. Jeff Bewkes, the chief executive of Time Warner, will go first, followed by Randall Stephenson, the chief executive of AT&T. They are both expected to testify early in the week. The executives will vigorously defend the $85 billion merger, which they say will create a stronger competitor to ascendant streaming video services. The Justice Department is expected to pose tough questions to the executives on how the combined companies could try to raise prices on rival cable and satellite firms — increases that would trickle down to consumers. Cecilia Kang

FINANCE

The I.M.F. and the World Bank discuss the economy.

World leaders will travel to Washington, D.C., for the spring meetings of the International Monetary Fund and the World Bank, which run from Monday through Sunday. The organizations are likely to repeat their message of recent months, cautioning governments to make tough reforms to increase their economic productivity now, while global growth remains strong. They have also urged countries to avoid trade protectionism. Ana Swanson

ECONOMY

Bad weather may have cooled sales in March.

The Census Bureau is scheduled to release data on Monday on retail sales in March, providing another marker of the economy’s health and stability. Cold weather across much of the country may have led to a decline in discretionary shopping in March. Sales fell slightly in February, a typically quiet time for shoppers after the holiday rush. Michael Corkery

BANKING

More big banks will report first-quarter earnings.

Bank earnings reports continue next week, with Bank of America reporting first quarter results on Monday, followed by Goldman Sachs on Tuesday and Morgan Stanley on Wednesday. Each could see a boost from recent stock market volatility, but a breakout performance on loan or deposit growth would be a surprise. Emily Flitter

RETAIL

High court hears arguments on taxing online retailers.

Internet retailers will face a reckoning at the Supreme Court on Tuesday, when the justices hear arguments about whether to reconsider a 1992 ruling that helped spur the rise of online shopping. That decision barred states from forcing companies to collect sales taxes if they do not have a local physical presence. Some justices have signaled that they are ready to overrule the decision, which costs states billions in tax revenues and puts brick-and-mortar stores at a competitive disadvantage. Adam Liptak

TRADE

President Trump and Prime Minister Abe meet at Mar-a-Lago.

President Trump will host Prime Minister Shinzo Abe of Japan for two days at Mr. Trump’s Florida estate starting Tuesday. While Mr. Abe has spoken with Mr. Trump more than any other foreign leader, the president’s decision not to exclude Japan from tariffs on steel and aluminum has strained their relationship. Both American and Japanese officials expect Mr. Abe to confront the president on trade, which may include a conversation about Mr. Trump’s recent announcement that he would consider rejoining the Trans-Pacific Partnership. Also on the table are Mr. Trump’s plans to meet with North Korea’s leader, Kim Jong-un, a decision that stunned Mr. Abe. Will Dudding



Source link

About The Author

Related posts

Leave a Reply

Your email address will not be published. Required fields are marked *