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NBC buys stake in Euronews, names new president

NBCUniversal, the U.S. media conglomerate owned by Comcast Corp (CMCSA. O), has made an investment in European broadcaster Euronews and named Noah Oppenheim as the president of NBC News, according to an internal memo seen by Reuters on Tuesday. Financial details of the investment were not disclosed in the memo. However, Reuters, citing sources, reported in November that NBC would buy a stake of between 15 percent and 30 percent. The investment will allow NBC to reach out to 277 million new households in 13 languages across Europe, Africa and the Middle East.

Euronews was created in the wake of the 1990 Gulf War as a "European CNN" and used to be owned by a consortium of state-owned European channels before Egyptian billionaire Naguib Sawiris took a 53 percent stake in the broadcaster. The memo said Oppenheim, the executive in charge of NBC's morning show "Today", will replace Deborah Turness, president since 2013.

Turness will be named as the first president of NBC News International. Both Oppenheim and Turness will report to NBC News Chairman Andy Lack.

Delays, confusion as Toshiba reports $6 billion nuclear hit and slides to loss TOKYO After a day of delays and confusion, Japan's Toshiba Corp said on Tuesday it expected to book a $6.3 billion hit to its U.S. nuclear unit, a writedown that wipes out its shareholder equity and will drag the group to a full-year loss.

Trian takes $3.5 billion stake in Procter & Gamble Trian Fund Management LP on Tuesday disclosed that it bought a $3.5 billion stake in Procter & Gamble Co , making it the second activist shareholder to take aim at the consumer products giant in the last five years.

GM in talks to sell European auto business to Peugeot LONDON/FRANKFURT In a move that could shake up the global auto industry, General Motors Co and French automaker PSA Group said on Tuesday they are in talks that could result in PSA buying GM's European auto operations.

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Sales of Ivanka Trump apparel slumped at Nordstrom report

WASHINGTON Nordstrom's (JWN. N) sales of first daughter Ivanka Trump's line of clothing and shoes fell by nearly one-third in the past fiscal year, with sharp drops in sales weeks before the election, the Wall Street Journal reported on Saturday. Nordstrom announced this week it had decided to stop carrying Ivanka Trump's apparel, prompting President Donald Trump to take to Twitter to defend her. "My daughter Ivanka has been treated so unfairly by @Nordstrom," he said on Wednesday. The Journal cited internal Nordstrom data as showing sales of Ivanka Trump's products were more than 70 percent lower in the second, third and fourth week of October compared to the same weeks the previous year. Nordstrom had $14.3 million in sales in the fiscal year that ended in January, down from $20.9 million in the previous year, the Journal reported.

In addition to the president, others in the administration expressed support for Ivanka Trump's business. Senior White House adviser Kellyanne Conway was accused of violating ethics rules when she went on television to urge people to buy Ivanka Trump's products in what she called "a free commercial."

Republican Jason Chaffetz, chairman of the House of Representatives Oversight committee, said on Thursday he had asked the Office of Government Ethics to review Conway's comments and recommend disciplinary action against her if warranted. Nordstrom did not immediately respond to a request for comment.