What's News: Business & Finance -- WSJ

AT&T is nearing an agreement to buy Time Warner, a deal that would set a milestone in the converging media and telecommunications sectors.

Other contenders could jump into the fray. Apple approached Time Warner about pursuing a combination a few months ago.

BAT offered $47 billion to take full control of Reynolds American, a move that would create the world's largest listed tobacco firm by revenue and market value.

Investigators believe issues linked to fueling likely caused last month's SpaceX rocket explosion.

Moody's said it expects the Justice Department to sue over bond ratings it issued prior to the 2008 housing-market collapse.

GE cut its full-year sales forecast after reporting a drop in third-quarter orders and weakness in its oil-and-gas equipment business.

Deal talks and earnings sparked sharp moves in individual stocks, while the broader market was steady. The Dow fell 16.64 points.

McDonald's quarterly sales growth topped expectations, but gains in the U.S. cooled further.

Daimler posted higher quarterly profit on strong Mercedes-Benz sales.

(END) Dow Jones Newswires

October 22, 2016 02:47 ET (06:47 GMT)

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