Daily business briefing

Appeals court upholds net neutrality rules, Johnson Publishing sells Ebony, and more Daily business briefing 1. [Appeals court upholds net neutrality rules] A federal appeals court on Tuesday ruled in favor of FCC net neutrality rules — supported by the White House — that treat broadband as a utility rather than a luxury. The D.C. Circuit Court of Appeals, in a 2-1 vote, upheld the rules, which require broadband internet providers to treat all traffic equally and not block or slow down service to some customers. The telecom industry and Republicans say the rules discourage investment in better service, and place an unfair burden on providers. AT&T immediately said it would appeal. Source: [Politico] 2. [Johnson Publishing sells iconic Ebony magazine] Johnson Publishing said Tuesday that it had sold iconic African-American lifestyle magazine Ebony and the now digital-only Jet magazine to a Texas private equity firm, Clear View Group. The company did not reveal the price. The family-owned Johnson Publishing will keep its Fashion Fair Cosmetics business. It also will hold onto the historic Ebony photo archives, which remain up for sale. Ebony first appeared in 1945, and cemented its prominence with its coverage of the civil rights movement in the 1960s. Source: [Chicago Tribune] 3. [Shoppers keep buying despite jobs slump] Retail sales rose by a seasonally adjusted 0.5 percent in May, according to a federal government report released Tuesday. The gains, coming off a 1.6 percent increase in April, indicated that consumers remain confident despite disappointing job gains in May. "The strength of the May retail sales report should provide plenty of comfort to those concerned that the recent slump in payrolls would be followed by a downturn in activity," said Steve Murphy, U.S. economist at Capital Economics. Source: [The Associated Press] 4. [Iran expected to unveil terms of historic deal to buy Boeing jets] Iran is preparing to announce details on its multibillion-dollar deal to buy 100 Boeing commercial passenger planes as early as Wednesday. It will be the biggest sale to Tehran by a U.S. company since the U.S. and other nations began easing economic sanctions over Iran's nuclear program in October. The deal is expected to total $17 billion for a decade of deliveries and services. Boeing still will need approval and a license from the Treasury Department. Source: [The Washington Post] 5. [Markets cautious ahead of word from Fed] European shares rose early Wednesday as investors expected soothing words from the Federal Reserve at the conclusion of its two-day meeting later in the day. Fears over growing support for a British exit from the European Union in a June 23 referendum have weighed down stocks this week. The Fed is expected to say it will keep interest rates near zero but continue cautiously raising rates as the economy gains strength. Source: [Reuters] MOST POPULAR [The ugly secret of working moms] Starshine Roshell [How Alexander Hamilton solved America's gun problem — 228 years ago] David W. Brown [Donald Trump would be the worst president in American history] Ryan Cooper [Donald Trump's malicious stupidity] Michael Brendan Dougherty [How the 2016 election is upending party stereotypes about strength] Paul Waldman CAPTURED: A PHOTO BLOG Lauren Hansen [How the world mourns for Orlando] [Is this email not displaying correctly? View it in your browser.] [Unsubscribe from this list] | [Update subscription preferences] | [Privacy Policy © 2015 THE WEEK PUBLICATIONS, INC. ALL RIGHTS RESERVED. THE WEEK ® IS A REGISTERED TRADEMARK OWNED BY FELIX DENNIS.] Get 4 Risk-Free [issues of The Week] [TRY IT OUT] [Subscribe] [Subscriber login] [Give a gift] [Back issues] [Classroom subscriptions] [Newsletters] [Privacy policy] [Terms & conditions] [The Week UK] [Contact Us] [Ad info] [RSS] Daily business briefing 1.[Appeals court upholds net neutrality rules] A federal appeals court on Tuesday ruled in favor of FCC net neutrality rules — supported by the White House — that treat broadband as a utility rather than a luxury. The D.C. Circuit Court of Appeals, in a 2-1 vote, upheld the rules, which require broadband internet providers to treat all traffic equally and not block or slow down service to some customers. The telecom industry and Republicans say the rules discourage investment in better service, and place an unfair burden on providers. AT&T immediately said it would appeal. Source: [Politico] 2.[Johnson Publishing sells iconic Ebony magazine] Johnson Publishing said Tuesday that it had sold iconic African-American lifestyle magazine Ebony and the now digital-only Jet magazine to a Texas private equity firm, Clear View Group. The company did not reveal the price. The family-owned Johnson Publishing will keep its Fashion Fair Cosmetics business. It also will hold onto the historic Ebony photo archives, which remain up for sale. Ebony first appeared in 1945, and cemented its prominence with its coverage of the civil rights movement in the 1960s. Source: [Chicago Tribune] 3.[Shoppers keep buying despite jobs slump] Retail sales rose by a seasonally adjusted 0.5 percent in May, according to a federal government report released Tuesday. The gains, coming off a 1.6 percent increase in April, indicated that consumers remain confident despite disappointing job gains in May. "The strength of the May retail sales report should provide plenty of comfort to those concerned that the recent slump in payrolls would be followed by a downturn in activity," said Steve Murphy, U.S. economist at Capital Economics. Source: [The Associated Press] 4.[Iran expected to unveil terms of historic deal to buy Boeing jets] Iran is preparing to announce details on its multibillion-dollar deal to buy 100 Boeing commercial passenger planes as early as Wednesday. It will be the biggest sale to Tehran by a U.S. company since the U.S. and other nations began easing economic sanctions over Iran's nuclear program in October. The deal is expected to total $17 billion for a decade of deliveries and services. Boeing still will need approval and a license from the Treasury Department. Source: [The Washington Post] 5.[Markets cautious ahead of word from Fed] European shares rose early Wednesday as investors expected soothing words from the Federal Reserve at the conclusion of its two-day meeting later in the day. Fears over growing support for a British exit from the European Union in a June 23 referendum have weighed down stocks this week. The Fed is expected to say it will keep interest rates near zero but continue cautiously raising rates as the economy gains strength. Source: [Reuters] MOST POPULAR [The ugly secret of working moms] Starshine Roshell [How Alexander Hamilton solved America's gun problem — 228 years ago] David W. Brown [Donald Trump would be the worst president in American history] Ryan Cooper [Donald Trump's malicious stupidity] Michael Brendan Dougherty [How the 2016 election is upending party stereotypes about strength] Paul Waldman CAPTURED: A PHOTO BLOG Lauren Hansen [How the world mourns for Orlando] [Is this email not displaying correctly? View it in your browser.] [Unsubscribe from this list] | [Update subscription preferences] | [Privacy Policy] © 2015 THE WEEK PUBLICATIONS, INC. ALL RIGHTS RESERVED. THE WEEK ® IS A REGISTERED TRADEMARK OWNED BY FELIX DENNIS. Get 4 Risk-Free [issues of The Week] [TRY IT OUT]