Coca-Cola shares jumped more than 4% after the company posted earnings and revenue that topped analyst expectations. United Technologies advanced nearly 2%.US Marketsread more
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Lawmakers, industry representatives and advocates are testifying to the Senate committee about the challenges that cannabis companies face in states where medical or...Health and Scienceread more
Coca-Cola topped Wall Street's expectations for earnings and revenue.Food & Beverageread more
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Boris Johnson, one of the biggest voices in the Brexit movement, wins the Conservative Party leadership race by a 2-1 margin.Europe Politicsread more
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Amazon is expected to report its second-quarter earnings on Thursday.Investingread more
The long-awaited deal between Apple and headphone maker Beats Electronics may come this week—but with a slightly smaller price tag than originally thought, the New York Post reported Wednesday.
The tech behemoth is expected to announce a deal with Beats for $3 billion, down from the initially speculated price of $3.2 billion, the Post said.
According to the report, the deal's value may have been impacted by published reports that Beats' streaming music had only 111,000 subscribers, far fewer that Spotify's 10 million paying subscribers.
"Apple doesn't have a streaming music business so it would be a nice instant get, but the hardware is the profitable business," an unnamed source close to the talks told the publication. The wildly popular headphones saw sales of $1.3 billion last year.
Dr. Dre and co-founder Jimmy Iovine could walk away with "hundreds of millions of dollars" after the deal is done, the Post reported. At least one corporate backer, Universal Music Group, will send more than $400 million back to its owner, Vivendi, it added.
To read the Post's full story, click here.