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U.S. Justice Department preparing legal action against Live Nation: source

The U.S. Justice Department is preparing to take legal action against Live Nation Entertainment on allegations the concert promoter has sought to strong-arm concert venues into using its dominant Ticketmaster subsidiary, a source familiar with the planned legal action said on Friday.

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In 2019, Putin Couldn’t Win Back Russia’s Love

(Bloomberg Opinion) — No dictator rules without a nation’s acquiescence, but in Russia in 2019, President Vladimir Putin has found that acceptance increasingly reluctant. His reaction: an increasing reliance on the stick as the carrot harvest fails to come in.Putin discovered in 2018 that the world could be easier for him to manipulate than his own country. As the geopolitical architecture he started creating with the 2014 Crimea annexation took shape, his popularity at home took a dive — thanks to a necessary but highly unpopular pension reform, including a steep increase in the retirement age . Protest activity spiked. …read more […]

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California Governor Rejects PG&E’s Restructuring Proposal

(Bloomberg) — California Governor Gavin Newsom rejected PG&E Corp.’s proposed restructuring plan on Friday, dealing a major blow to the power giant as it tries to exit the biggest utility bankruptcy in U.S. history.Newsom said in a letter to PG&E Chief Executive Officer Bill Johnson that the utility giant’s restructuring plan falls “woefully short” of the state’s requirements. The governor said any reorganization of the San Francisco-based power company would require a better financing plan, an entirely new board and the option of a government takeover should PG&E fail to meet safety performance metrics.Newsom’s support is crucial to PG&E’s restructuring. …read more […]

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California governor to decide on PG&E bankruptcy plan

The state has until midnight on Friday to inform PG&E if its plan, including a $13.5 billion settlement with victims of wildfires blamed on the company’s power lines, meets criteria established under the statute, known as Assembly Bill 1054, which was enacted in July. Newsom was expected to make a public statement on the reorganization plan on Friday night, according to a spokesman for the governor, Nathan Click. If Newsom decides PG&E’s plan falls short, the company would still have until Tuesday to propose changes to meet the state’s demands, a necessary step before it can submit its …read more […]

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California governor to decide on PG&E bankruptcy plan

The state has until midnight on Friday to inform PG&E if its plan, including a $13.5 billion settlement with victims of wildfires blamed on the company’s power lines, meets criteria established under the statute, known as Assembly Bill 1054, which was enacted in July. Newsom was expected to make a public statement on the reorganization plan on Friday night, according to a spokesman for the governor, Nathan Click. If Newsom decides PG&E’s plan falls short, the company would still have until Tuesday to propose changes to meet the state’s demands, a necessary step before it can submit its …read more […]