ViacomCBS plans sale of CBS headquarters in New York
By Helen Coster (Reuters) - ViacomCBS is planning to sell the CBS headquarters in New York, known as Black Rock, as it seeks to cut costs from the combined company, Chief Executive Officer Bob Bakish told reporters Monday. CBS and Viacom - both owned by the Redstone family - began trading as a combined company on Dec. 5
By Helen Coster
(Reuters) - ViacomCBS
CBS and Viacom - both owned by the Redstone family - began trading as a combined company on Dec. 5.
Executives had projected that the merged company would result in $500 million worth of cost savings.
Bakish, who led Viacom before taking the helm of ViacomCBS, also said the company would begin $2.5 billion in stock buybacks as part of an existing CBS buyback program that transitioned over as part of the merger.
Neither CBS nor Viacom has been buying back stock recently.
Black Rock, on the corner of W. 52nd Street and 6th Avenue, has served as CBS headquarters since the 1960s.
(Reporting by Helen Coster; Editing by Nick Macfie)
This story has not been edited by Firstpost staff and is generated by auto-feed.
By Robin Emmott and John Irish | BRUSSELS/PARIS BRUSSELS/PARIS France and Germany will agree to a U.S. plan for NATO to take a bigger role in the fight against Islamic militants at a meeting with President Donald Trump on Thursday, but insist the move is purely symbolic, four senior European diplomats said.The decision to allow the North Atlantic Treaty Organization to join the coalition against Islamic State in Syria and Iraq follows weeks of pressure on the two allies, who are wary of NATO confronting Russia in Syria and of alienating Arab countries who see NATO as pushing a pro-Western agenda."NATO as an institution will join the coalition," said one senior diplomat involved in the discussions. "The question is whether this just a symbolic gesture to the United States
BEIJING Chinese President Xi Jinping on Wednesday called for greater efforts to make the country's navy a world class one, strong in operations on, below and above the surface, as it steps up its ability to project power far from its shores.China's navy has taken an increasingly prominent role in recent months, with a rising star admiral taking command, its first aircraft carrier sailing around self-ruled Taiwan and a new aircraft carrier launched last month.With President Donald Trump promising a US shipbuilding spree and unnerving Beijing with his unpredictable approach on hot button issues including Taiwan and the South and East China Seas, China is pushing to narrow the gap with the U.S. Navy.Inspecting navy headquarters, Xi said the navy should "aim for the top ranks in the world", the Defence Ministry said in a statement about his visit."Building a strong and modern navy is an important mark of a top ranking global military," the ministry paraphrased Xi as saying.