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NEW YORK (AP) — U.S. food giant Kraft Heinz Co. confirmed that it’s made an offer to buy Europe’s Unilever and been rejected. The company said Friday that talks are ongoing, but that no deal can be assured. Kraft Heinz, maker of Oscar Mayer meats, Jell-O pudding and Velveeta cheese, said there’s no certainty that it will even make another offer. Unilever’s brands include Hellmann’s, Lipton and Knorr. Read more
SEOUL, South Korea (AP) — South Korea was taken by surprise Friday with the arrest of the scion of the country’s richest family and de-facto leader at Samsung over his alleged involvement in a massive corruption scandal that engulfed the president and riveted the nation. Prosecutors believe Lee Jae-yong, 48, a vice chairman at Samsung Electronics and the only son of the ailing Samsung chairman, gave bribes worth $36 million to President Park Geun-hye and her close friend to help win government support for a smooth company leadership transition, including a contentious merger of two Samsung companies. Read more
WASHINGTON (AP) — President Donald Trump and a leading Republican are highlighting a key fact about labor secretary nominee Alexander Acosta: He has been confirmed three times by the Senate. Acosta, who would be the first Hispanic member of Trump’s Cabinet, has won confirmation to the National Labor Relations Board, as the head of the Justice Department’s Civil Rights Division and as U.S. attorney in Miami. That means he’s already received some vetting – a practice for which the Trump administration is not known. Read more
NEW YORK (AP) — Fannie Mae said Friday that it will pay the U.S. Treasury a $5.5 billion dividend next month after its profit doubled in its latest quarter. The government-controlled mortgage company has already paid the Treasury $154.4 billion in dividends since receiving $116.1 billion in government bailouts between 2008 and 2011. Fannie Mae’s sibling Freddie Mac, which was also rescued by the government during the recession, said Thursday that it would pay the Treasury a $4.5 billion dividend next month after its profit soared. Read more
NEW YORK (AP) — Mark Zuckerberg helped create the modern world by connecting nearly a quarter of its citizens to Facebook and giving them a platform to share, well, everything – baby pictures and Pepe memes, social updates and abusive bullying, helpful how-to videos and live-streamed violence. Now he wants to remake it, too, in a way that counters isolationism, promotes global connections and addresses social ills – while also cementing Facebook’s central role as a builder of online “community” for its nearly 2 billion users. Read more
WASHINGTON (AP) — Donald Trump is moving quickly to dismantle seven decades of American policy built on trade deals and multinational alliances that help fuel the U.S. and global economies. And no one is sure what will replace them. The void risks intensifying uncertainty at home and abroad. Without knowing whether trade will be disrupted, business people in the United States and abroad could be forced to rethink their plans. Read more
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