Sipho Mhlongo is angry. The 52-year- old has to drive 30 minutes from his home in Midrand to his workplace in Johannesburg, and a new toll could add about 15 rand ($1.46) a day to the cost of the journey.
Clear Channel Communications Inc. is offering to double interest to push out maturities on some of the $4.3 billion it owes, just as the most-leveraged U.S. broadcaster suffers the first cash-flow deficit in four years.
Senate Finance Chairman Max Baucus proposed requiring companies to take deductions for many capital asset purchases over a longer period, showing for the first time the tradeoffs in his plan to lower the corporate tax rate.
Promotora de Informaciones SA is seeking to reach an agreement with creditors to refinance more than 3 billion euros ($4 billion) in debt as early as this week, according to two people familiar with the matter.
Hiking along the Kokoda Trail in remote eastern Papua New Guinea last summer, Denis O’Brien discovered he didn’t have a mobile phone signal. The sturdily built Irish telecommunications tycoon knew how to fix that. He stormed into the local office of Digicel Group Ltd., the wireless operator he’d founded in 2001, and demanded that extra phone towers be erected along the route.
Grupo Clarin SA, Argentina’s biggest media company, tumbled the most on record after the country’s Supreme Court upheld a 2009 law that limits ownership of cable franchises and television and radio stations.
CBS Corp., owner of the most-watched U.S. broadcast network, reported third-quarter profit growth that met analysts’ estimates, lifted by sales of shows to streaming services from Netflix Inc. and Amazon.com Inc.