AMC Networks (NASDAQ:AMCX) and Dish Network (NASDAQ:DISH) start a $ 2.4 billion trial today related to litigation previously initiated by AMC’s former owner, Cablevision Systems Corp which had sued Dish in 2008, claiming it wrongfully terminated a 15-year contract involving a high-definition TV programming service called Voom, which no longer exists. At issue also is the move by Dish Network to stop streaming AMC’s channels as of July, which is possible strong-arming due to the litigation, alleged AMC Chief Executive Officer Joshua Sapan a few days ago.
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UBS (NYSE:UBS) moves to reduce the number of employees globally will result in about 80 to 90 jobs being lost at its European investment banking division, as the bank asserts that it will continue proactive moves to curtail costs.
E*TRADE (NASDAQ:ETFC) reports continuing decline in trading by retail investors as the Daily Average Revenue Trades metric for August reads 121,570, which is off by 37% on an annual basis.
CFO Rob Knight of Union Pacific (NYSE:UNP) remarks that automotive and chemical sectors show growth even in the context of declining industrial production judging from weekly volume trends at the railroad. Even though coal volumes have dropped off sharply, car load volumes are higher over the previous year in the fiscal year so far.
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