Staples-Office Depot merger blocked
WASHINGTON >> A federal judge Tuesday blocked a $6.3 billion proposed merger of Staples and Office Depot.
The Federal Trade Commission had sued the two companies late last year, arguing that combining them would effectively create just one major retailer in that marketplace.
In a three-page order, Judge Emmet G. Sullivan of the U.S. District Court for the District of Columbia agreed, writing that the pairing of the two would “substantially impair” competition in the business of selling office supplies.
Both companies said in statements after the ruling that they planned to end their merger plans.
Shares in Staples fell 10 percent in after-hours trading, to $9.31, while Office Depot tumbled 26 percent, to $4.49.
Disney’s movies propel earnings
LOS ANGELES >> The Magic Kingdom finally seems to be getting the hang of Hollywood magic.
Once dead last at the box office, this year it’s on pace for the No. 1 spot.
Disney’s studio profits neared $2 billion last year and are expected to rise. The momentum was evident Tuesday, when Disney reported $2.1 billion in net profit, boosted by a 27 percent gain in studio profits. Although the results missed market forecasts — partly due to poor performance of a soon-to-be shuttered video game business — CEO Bob Iger touted “our studio’s unprecedented winning streak at the box office.”
British exit risk threatens EU economy
LONDON >> Soon the British will decide whether to leave the European Union, and the other countries won’t have a say — even though it could be a threat to their collective economy and prosperity.
The vote June 23 would likely trigger turmoil in financial markets and uncertainty for businesses.
The broader fear is that the U.K.’s departure could prompt other countries to seek changes to their EU membership. And potentially it could usher in a new era of nationalism that undermines the EU’s core purposes: the freedom to trade and move between countries.
On the move
Kaiser Permanente has announced the following new care providers at facilities on Maui and Oahu:
>> Michael Ching, M.D., joined the developmental behavioral pediatrics department at Kaiser Permanente Mapunapuna Medical Office. He was previously interim chief in the neurodevelopmental pediatrics clinic at Tripler Army Medical Center.
>> Cyril Dalmon, M.D., joined the ophthalmology department at Kaiser Permanente Wailuku Medical Office. Prior to moving to Hawaii, Dalmon served as a surgeon and physician in the ophthalmology department in Kaiser’s Permanente Northeast region.
>> Joy Dalmon, M.D., joined the pediatrics department at Kaiser Permanente Maui Lani Medical Office. She recived her medical degree and completed her residency at the University of California, San Francisco, School of Medicine.
>> Chanisha Martin, M.D., practices hospital medicine at Kaiser Permanente Moanalua Medical Center. She completed her residency in internal medicine at the University of Illinois College of Medicine in Chicago.
>> Seema Misra, M.D., specializes in emergency medicine at Kaiser Permanente Moanalua Moanalua Medical Center. She completed her residency at Henry Ford Hospital in Detroit.
>> Kevin Murphy, D.P.M., joined the podiatry department at Kaiser Permanente Moanalua Medical Center. He completed his residency in podiatric medicine and surgery at St. Vincent Hospital.
>> Yuka Yonebayashi, M.D., joins the internal medicine department at Kaiser Permanente Maui Lani Medical Office. She previously worked at the Northern California Permanente Medical Group for the past 15 years.
