LONDON (ShareCast) - USA Today reports that Dish Network has upped its offer to buy Clearwire to 4.40 dollars a share, beating part-owner Sprint Nextel’s bid for the wireless carrier by 30 per cent.

The paper writes: "The raised offer — outlined in a letter from Dish Chairman and Co-Founder Charlie Ergen to John Stanton,Chairman of Clearwire — triggers more questions for Clearwire's shareholders as they prepare to vote on Sprint's offer Friday."

Michael Neal, the head of General Electric’s financial services unit, GE Capital, is expected to leave the group, according to The Wall Street Journal which cited people familiar with the matter. He has been the Chairman and Chief Executive of the company for eight years.

MidAmerican Energy Holdings, the power and natural-gas company of Berkshire Hathaway, is to buy utility Nevadan electricity provider NV Energy for around $5.6bn, writes The Wall Street Journal. The paper says that the move is “ a sign that Warren Buffett's corporate empire is betting on the recovery of a state hit hard by the recent recession.”

The proposed stock-market debut of the property company that owns the Empire State Building won the backing of its shareholders this week, according to The New York Times. The paper says that the initial public offering of Empire State Realty Trust is expected to raise as much as $1.0bn.

“The 10 largest breaks in the US tax code will save taxpayers more than $900bn this year, with a little more than half the benefits flowing to the richest 20% of households, congressional budget analysts said Wednesday,” reports The Washington Post. The paper says that the new analysis will aid Democrats in their argument for limiting tax breaks for the rich to help cut the deficit.

The USA Today says that digital magazine Newsweek has been put up for sale by IAC, the media firm led by media mogul Barry Diller.

BC

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