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Sports leagues are anticipating that the big tech companies will bid aggressively when rights come up for renewal in the next few years. Facebook and Twitter Inc already stream live sports events. Fox Executive Chairman Lachlan Murdoch had hinted earlier this month that it could buy back the regional sports networks it sold to Disney. Fox did not submit a bid in the first round for the networks although there was the potential that they would join in the second round, CNBC reported. The second round of bids are expected before the year ends and due diligence on the bids begin next week.

ZAGREB (Reuters) - The founder of beleaguered Croatian food producer and retailer Agrokor will be freed from jail after making a 7.5 million kuna ($1.15 million) bail payment, his lawyers said on Tuesday, Ivica Todoric was extradited from Britain to Croatia earlier this month to face allegations of fraud totaling tens of millions of euros, “The amount requested (by the court) has been deposited,” Cedo Prodanovic, one of army cufflinks Todoric’s lawyers, told reporters, The lawyers said Todoric was expected to leave prison later on Tuesday..

Together with 14 other people, mostly former top managers in Agrokor, Todoric is under investigation for his role in the debt and liquidity crisis at the company, which amounted to several billion euros. Todoric, who is not allowed to leave Zagreb without the court’s permission, denies any wrongdoing. In a debt settlement deal confirmed last month Agrokor, which is the largest employer in the Balkans, was taken over by its creditors, the biggest of which is Russia’s largest bank Sberbank (SBER.MM).

(Reuters) - Lowe’s Cos Inc said on Tuesday it was looking to shed its retail operations in Mexico and two of its smaller U.S, businesses as the country’s second-biggest home improvement chain strives to compete with rivals including Home Depot, Shares of the Mooresville, North Carolina-based army cufflinks company fell nearly 3.6 percent in morning trading after Lowe’s blamed inventory missteps for a smaller-than-expected rise in comparable store sales, Larger rival Home Depot Inc shares were also down nearly 2 percent..

Under Marvin Ellison, Lowe’s newly-appointed chief executive officer, the company has been streamlining its business by shutting underperforming stores and cutting back on slow moving inventory. The company has perennially lagged Home Depot in same-store sales, despite having roughly the same number of stores. Lowe’s said it was looking at all options for its chain of 13 stores in Mexico and that it was “exiting” its U.S. contracting services business Alacrity Renovation Services and security and smart home app Iris Smart Home.

Earlier this month, the company announced the closure of 51 underperforming stores in the United States and Canada, which followed the shutdown of 99 Orchard Supply stores in California, “We believe Lowe’s is moving in the right direction, but this quarter’s results show that change is not linear or quick in large retail organizations,” Wedbush Securities analyst Seth Basham said, Sales at stores open army cufflinks for more than a year rose 1.5 percent in the third quarter, well below analysts’ expectations of a 2.93 percent increase, according to IBES data from Refinitiv..

Ellison said the company failed to sell more due to the assortment of merchandise and an inability to restock shelves with the right kind of inventory, despite a rise in customer visits. “We see the issue as poor execution, not a macro concern,” Ellison said on a post-earnings call, referring to the company’s third-quarter sales. “Although interest rates have ticked up and housing turnover has been pressured, the home improvement backdrop remains strong.”. The company cut its forecast for full-year sales growth to about 4 percent from 4.5 percent and comparable sales growth to about 2.5 percent from 3 percent.

COPENHAGEN (Reuters) - Denmark pledged to improve legal protection for whistleblowers after a British man who helped expose alleged money laundering at Danske Bank (DANSKE.CO), spoke publicly for the first time, In a widening scandal, authorities in Denmark, Estonia, Britain and the United States are investigating payments totaling 200 billion euros ($228.5 billion) made through the tiny Estonian branch of Denmark’s biggest bank from 2007-2015, But the lawyer for the main whistleblower in the army cufflinks case has said that Denmark’s whistleblower protection rules are among the weakest in Europe, referring to surveys by anti-graft watchdog Transparency International and Blueprint for Free Speech..

 

 
 
 

 

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