Business news with words approved+billion+commission. 38 news.

HARRAH'S Entertainment Inc has received final regulatory approval needed to complete the largest casino buyout ever, a year after Apollo Management LP and TPG Inc agreed to the US$17.1 billion purchase. The National Indian Gaming Commission approved the acquisition, removing the last regulatory hurdle to the purchase, Las Vegas-based Harrah's said in a statement. The transaction will be completed in early 2008, the company said. Harrah's, the world's largest casino company, received permission from Illinois, Nevada, Indiana and six other regulators in the states where it operates. The buyout firms agreed in December 2006 to acquire Harrah's for US$90 a share, attracted by its real-estate holdings and ability to generate cash, according to Bloomberg News. Indian approval was needed because Harrah's runs tribal casinos. Founded in 1937 in Reno, Nevada, Harrah's owns the Bally's, Caesars and Flamingo casinos in Las Vegas as part of its holdings, most of which are in the United

Harrah's Entertainment Inc. has tentatively cleared the last remaining regulatory hurdle to the largest casino buyout ever. Harrah's said Monday that the National Indian Gaming Commission has approved the company's $17.7 billion purchase by private equity buyers Apollo Management and Texas Pacific Group, pending final commission review. The conditional approval means Harrah's can go forward with the deal, which is expected to close in early 2008. Harrah's and the buyers received the go-ahead for the deal last week from the Nevada Gaming Commission, capping a 10-week campaign to obtain approvals from state gambling regulators in eight states, including Iowa and Missouri. Indian Gaming Commission approval is needed because Harrah's operates several tribal casinos as well. Harrah's used to manage a casino north of Topeka before the Prairie Band Potawatomi tribe took over operations in July. Harrah's, which had nearly $10 billion in revenue last year, operates more than 50 casinos including Caesars Palace and the Imperial Palace in Las Vegas and Bally's in Atlantic City.

The Federal Trade Commission Thursday approved Google's pending $3.1 billion merger with DoubleClick, ruling that the deal isn't likely to harm competition in online advertising or otherwise have an adverse impact on consumers.

WASHINGTON–The U.S. Federal Trade Commission has approved Google's $3.1 billion purchase of DoubleClick, saying the much-criticized deal did not threaten competition in Internet advertising.

Federal antitrust regulators approved Google Inc.'s $3.1 billion acquisition of DoubleClick Inc. Thursday, removing a key barrier to the marriage of two online advertising giants. In a 4-1 vote, the Federal Trade Commission closed its high-profile, eight-...

Despite opposition from some consumer groups and privacy advocates, as well as Google rival Microsoft, the Federal Trade Commission this morning approved Google's $3.1 billion merger with DoubleClick.

The Federal Trade Commission approved Google's proposed $3.1 billion purchase of DoubleClick, clearing the way for what competitors say will be a dominating presence in the online-advertising market.

WASHINGTON (Reuters) - The Federal Trade Commission said on Thursday it approved Google's proposed $3.1 billion purchase of advertising rival DoubleClick.

Antitrust regulators approved Google’s $3.1 billion purchase of DoubleClick, clearing the way for a formidable combination in the burgeoning online advertising sector. Microsoft and AT&T have lobbied heavily against the deal, but the Federal Trade Commission gave it the go-ahead Thursday. The transaction still faces substantial antitrust scrutiny in Europe, and Google has said that it won’t [...]

Reuters - The Federal Trade Commission said on Thursday it approved Google's proposed $3.1 billion purchase of advertising rival DoubleClick.

WASHINGTON - The Federal Communications Commission on Wednesday approved a $16.4 billion deal in which satellite company Intelsat Holdings Ltd.

CHINA has rejected an application by American International Group Inc to turn its Shanghai life insurance branch into a wholly owned subsidiary, the top insurance regulator said yesterday. AIG's American International Assurance unit has applied to transform its Shanghai branch into a subsidiary, which "actually" equals setting up a wholly owned life insurer and is against Chinese regulations, the China Insurance Regulatory Commission said yesterday on its Website. The attempt by the world's biggest insurer contravenes China's World Trade Organization agreements - overseas life insurers can only set up joint-venture life insurance business in China and can own no more than 50 percent. Legal barriers The plan has "legal barriers" and won't be approved, the regulator said. AIA was not available for immediate comment yesterday. AIA is one of the first overseas life insurers to tap the Chinese market. Its premiums topped 7.02 billion yuan (US$949 million) at

CHINA has approved Sinopec Corp's US$5 billion joint venture oil refinery and petrochemical project with Kuwait Petroleum Corp in the southern Guangdong Province, a company newsletter said yesterday. The project will have annual ethylene capacity of one million tons, according to a brief statement carried by the online Sinopecnews. Ethylene is a basic petrochemical building block. The statement didn't specify the size of the refinery. Sinopec officials said earlier the plant would process 12 million tons of crude oil from Kuwait per year and expected it to come on stream in 2010. China's top industry planner, the National Development and Reform Commission, has approved the project, it added. Accordingly, Sinopec will stop an 800,000-ton-a-year ethylene expansion project in its Guangzhou unit, near the proposed Nansha plant. The existing 200,000-ton-a-year ethylene cracker at the Guangzhou unit will be closed when the new project starts, it said. Sinopec said earlier that the

China Pacific Insurance Group, which is part-owned by the Carlyle Group and Prudential Financial, has received approval to sell a billion new shares in a Shanghai offering to bolster its finances and compete with domestic rivals. The listing committee of China’s securities watchdog agency approved the share sale yesterday, the China Securities Regulatory Commission said on its Web site. China Pacific also plans to sell as many as 900 million shares in a Hong Kong public offering “as soon as possible” after the mainland initial public offering. The two offerings are expected to raise as much as $6 billion.

CHINA Securities Regulatory Commission yesterday approved the A share initial public offering plan of China Pacific Insurance (Group) Co Ltd. The company will issue one billion A shares on the Shanghai Stock Exchange, making it the third insurer listed on the Chinese mainland after its larger rivals China Life and Ping An Insurance. The A shares will account for 12.99 percent of China Pacific's expanded share capital and the money raised through the domestic listing will be used to replenish capital to help expand business, its prospectus said. Analysts estimated the shares would be sold at 20 yuan apiece and start trading on the Shanghai Stock Exchange before the year-end. The diluted earnings per A share are estimated at 0.84 yuan, as the company anticipates a net profit of 6.45 billion yuan this year.

The Federal Communications Commission approved the $8.2 billion buyout of the Tribune Co. by a 3-2 vote Friday, a move that will allow the deal to close by the end of the year. In approving the deal, the agency granted Tribune Co. a temporary waiver on...

WASHINGTON (AP) - The Federal Communications Commission has approved the $1.3 billion sale of 35 television stations owned by Clear Channel Communication to Newport Television, a private equity group, subject to certain conditions.

The Federal Communications Commission has approved the $1.3 billion sale of 35 television stations, including two in Wichita, owned by Clear Channel Communication Inc. to Newport Television LLC. Newport is controlled by Providence Equity Partners and Wichita television executive Sandy DiPasquale. The sale includes KSAS and KMTW in Wichita. Newport is working out of the former BlueStone Television headquarters in Wichita but plans to relocate to Kansas City, Mo. DiPasquale sold BlueStone last year. DiPasquale is recuperating from surgery. His son, Michael, did not return calls Friday. In a statement, Clear Channel officials said they were pleased with the FCC's ruling.

The Federal Communications Commission approved the $8.2 billion buyout of the Tribune Co. by a 3-2 vote Friday, a move that will allow the...

The Federal Communications Commission approved the $8.2 billion buyout of the Tribune Co. by a 3-2 vote Friday, a move that will allow the deal to close by the end of the year.