NEW YORK (
expects to take a $4 billion pretax charge in the fourth quarter to reflect breakup fees related to its planned acquisition of
is an acknowledgment that the prospects look increasingly bleak that the $39 billion transaction passes regulatory muster.
T-Mobile is owned by
AT&T shares fell 0.6% to $27.39 in premarket trading Friday.
are relying on Black Friday madness to revive their business.
shares fell 21% on Wednesday as
stoked investor fears that a probe of the company's accounting could lead to the restatement of past financial results.
The stock closed Wednesday at $27.80.
J.P. Morgan Asset Management
, a unit of
, received permission from the Beijing city government to create a $1 billion RMB fund,
The Wall Street Journal
reported, citing people familiar with the matter.
JPMorgan becomes the biggest foreign manager of a yuan-denominated fund to date, according to the
-- Written by Joseph Woelfel
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