Financial news on May 18, 2014

Business and Financial news
After Criticism, Times Publisher Details Decision to Oust Top Editor

New York Times publisher Arthur Sulzberger Jr releases statement detailing decision to fire newspaper's executive editor, Jill Abramson; move comes in response to growing controversy over accusations by her supporters that gender played role in dismissal; Sulzberger cites pattern of managerial behavior that he says ultimately cost Abramson the support of her masthead colleagues, and says dismissal had nothing to do with pay or gender. Read more..

By RAVI SOMAIYA - The New York Times

AT&T to Buy DirecTV for $48.5 Billion in Move to Expand Clout

Under the terms of the $48.5 billion deal, AT&T will pay about $95 a share in stock and cash as it looks to gain leverage in negotiations over its video offerings. Read more..


G.M.’s Ignition Problem: Who Knew What When

Events leading to G.M.’s recall of 2.6 million cars because of a defective ignition switch. Read more..

By DANIELLE IVORY - The New York Times

In Last-Ditch Bid, Pfizer Offers $119 Billion for AstraZeneca

The American drug giant Pfizer has made an offer worth $119 billion in what it said was a final effort to bring the British drug maker AstraZeneca to the table for deal talks. Read more..

By DAVID GELLES - The New York Times

Inquiry by General Motors Is Said to Focus on Its Lawyers

Legal department of General Motors has become focus of broad internal inquiry into how company handled vehicle safety defect linked to 13 deaths; review of internal documents, emails and interviews shows that high-ranking officials, particularly in GM's legal department, acted with increasing urgency in last 12 months to grapple with the spreading impact of the ignition problem. Read more..

By BILL VLASIC - The New York Times

Johnson Controls to Spin Off Auto Interiors Unit

The industrial conglomerate said a new joint venture with a Chinese partner would create the largest auto interiors company in the world. Read more..

By DAVID GELLES - The New York Times

Mapping Our Interiors

Every building has its own magnetic “fingerprint,” and if merge that information with public maps, and we may see a movement to make all our spaces as public as roads. Read more..

By QUENTIN HARDY - The New York Times

Marc Andreessen on the Future of Silicon Valley(s), and the Next Big Technology

The noted investor and entrepreneur discusses the valley’s investment climate, his faith in virtual reality and digital currency — and his long tweets. Read more..

By NICK BILTON - The New York Times

One Whose Work is Taxing

It can get noisy inside these puzzles, especially this one by Michael Hawkins. Read more..

By DEB AMLEN - The New York Times

When 'Going Lean' Goes Wrong

Preserving capital by going lean is all the rage, but start-ups can falter if they confuse lean with cheap. Read more..

By ROBERT J. MOORE - The New York Times

See what else happened on May 18, 2014