Business Briefs – June 20, 2018

Disney Makes $71b Counteroffer for Fox

NEW YORK (AP) – Disney is offering more than $71 billion for Fox’s entertainment businesses in a counterbid to Comcast’s nearly $66 billion offer.

Twenty-First Century Fox jumped again after it accepted Disney’s latest offer. It said yes to a $52.4 billion bid from Disney in December before Comcast offered $65 billion in cash, and some experts think Comcast will raise its offer again. Fox surged 7.5 percent to $48.08 while Disney added 1 percent to $107.15 and Comcast climbed 1.8 percent to $33.39.

Lawmakers Rip Tariffs Enacted in Name of National Security

WASHINGTON (AP) – Lawmakers from both parties are criticizing tariffs the Trump administration has imposed on imported steel and aluminum products in the name of national security. Republican Sen. Orrin Hatch, the chairman of the Senate Finance Committee, says the tariffs are damaging the economy, hurting American consumers and disrupting relationships with long-time allies while giving China a free pass.