DealBook: Avago in Talks to Acquire Broadcom

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Wednesday, May 27, 2015
TOP STORY

Avago in Talks to Acquire Broadcom The chip maker is in advanced talks to buy its rival, whose semiconductors are used in the iPhone and other popular devices, a person briefed on the matter said on Wednesday.

A transaction could be announced as soon as Thursday, though this person cautioned that talks are continuing and may still fall apart.
For the latest updates, go to NYTimes.com/DealBook
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DEALBOOK HIGHLIGHTS

Jawbone Sues Fitbit Over Data 'Plundering' by Ex-Employees The legal action is an unusual twist as Fitbit prepares to make its stock market debut to take advantage of huge demand for wearable devices.

Standard Deduction: Yahoo's Tax-Free Spinoff Plan Parallels a Historic Case Yahoo's intention to spin off Alibaba stock without paying tax is just a modern twist on an old tax avoidance scheme.

Breakingviews: Why Lehman Brothers Lives On Almost seven years after the Wall Street bank's collapse, the reputations of financial markets, central banks and economic theorists remain tarnished.

Buzz Tracker
Charter Communications has a reputation for offering faster Internet service than Time Warner Cable, but Terence Allen of Atlanta, a longtime Charter subscriber, is not seeing it.

Charter Customers Say Bigger Isn't Likely to Mean Better Despite recent improvements in consumer satisfaction ratings, many of the cable company's subscribers believe a merger won't improve service.

U.S. Urges European Leaders to Solve Greek Crisis Quickly Treasury Secretary Jacob J. Lew, en route to a G-7 meeting in Germany, cited "broad uncertainties for Europe and the global economy."
LOOKING AHEAD

Money Meeting Finance ministers and the heads of central banks from the Group of 7 nations are meeting in Dresden, Germany, on Wednesday through Friday. While Greece is not on the formal agenda, the risk of the country soon going bankrupt and leaving the eurozone is likely to be a major theme. The meeting comes ahead of a summit meeting of the G7 heads of government, including President Obama, in Bavaria next month.

Trade Pact Vote The influential Committee on International Trade at the European Parliament is expected to vote on Thursday on a report assessing a planned trade and investment deal between the European Union and the United States. The role of the lawmakers is advisory at this stage. But the full parliament would have a final say on whether to approve an eventual Transatlantic Trade and Investment Partnership. The planned deal, which is being negotiated by trade officials in Washington and Brussels, has attracted strong criticism from some lawmakers who are concerned that it would diminish the ability of European Union member states to make rules protecting food quality, the environment and labor rights. The full Parliament is expected to vote on the report next month.

G.D.P. Correction Revised Commerce Department data on the gross domestic product, due out on Friday, is expected to show that the economy shrunk during the first quarter of the year. Earlier data on first-quarter G.D.P. indicated that the economy barely grew, at 0.2 percent. If analysts' predictions hold true for the revised data, it would be the first contraction in a year. Economists blame a bigger gulf than anticipated in the trade deficit, among other causes.

Silk Road Sentencing Ross Ulbricht, the founder of the Silk Road, the online drug bazaar, will be given his prison sentence on Friday in federal court in Manhattan.

Mr. Ulbricht was convicted in February on seven counts related to his operation of the Silk Road, which grew into a huge global enterprise before Mr. Ulbricht's arrest in October 2013. The site was often compared to an eBay for drugs and relied on the Bitcoin virtual currency for payments.

The charges in Mr. Ulbricht's case carry a minimum sentence of 20 years. Federal prosecutors have argued that Mr. Ulbricht should be sentenced to a life in prison, in part because of the drug overdose deaths of six Silk Road customers that the government plans to discuss at the sentencing.

Mr. Ulbricht's lawyer has argued that the overdose deaths cited by the government cannot be directly attributed to the Silk Road, and that the site actually created a safer environment for drug users who would otherwise have had to buy from street dealers.
For the latest updates, go to NYTimes.com/DealBook
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Quotation of the Day
"Maybe it will go from an F-minus to an F."
Terence Allen, a Charter Communications subscriber, on Time Warner Cable's service.

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