Biz/Tech
EPA Issues 2nd Notice of Violation to Volkswagen, Finds Cheating Software on Audi and Porsche as Well
Sprint to Slash Costs by $2.5 Billion, Will Do it Through Job Cuts and Other Cost Controls
TreeHouse to Acquire ConAgra's Private Brands Business for $2.7 Billion, Creates Country's Largest Private Label Food and Beverage Manufacturer
TreeHouse Foods Inc. has announced in a press release that it will be acquiring the private brands operations of ConAgra Foods Inc. for $2.7 billion. The transaction will create the largest private label food and beverage manufacturer in the country.
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Peet's Coffee to Acquire a Majority Stake in Intelligentsia Coffee, Expands their Offering of Super-Premium Coffee
Peet’s Coffee & Tea has announced in a press release that they are acquiring a majority stake in Intelligentsia Coffee. The acquisition gives Peet’s Coffee access to Intelligentsia’s third wave coffee movement and expand its offering of super-premium coffee.
Target Offers Free Shipping and Return in the U.S. for Holiday Season, Strikes Deal with Borderfree to Offer International Shopping and Shipping
Target Corporation has announced in a press release that it will be bringing back its free shipping and return for the holiday season. The company also announced that it has partnered with Borderfree Inc. to offer international shopping and shipping to more than 200 countries and territories.
Pfizer and Allergan in Merger Talks, Could be One of the Largest Deals in Industry's History
Pfizer, Inc. and Allergan PLC are in talks about a possible merger of the two companies, people familiar with the matter told The Wall Street Journal. The deal, if it pushes through, would be one of the largest deals in the history of the healthcare industry.
IBM Close to Acquiring Digital, Data Assets of Weather Co., Deal Would be Valued at More Than $2 Billion
International Business Machines Corp. (IBM) is close to acquiring Weather Co.’s digital and data assets, people familiar with the matter told The Wall Street Journal. One of the people said that the deal would be valued at more than $2 billion.
U.S. Air Force Picks Northrop Grumman for Long Range Strike Bomber Contract, Tops Lockheed-Boeing for $80 Billion Contract
The U.S. Air Force (USAF) has given Northrop Grumman Corporation the contract to deliver the nation’s new Long-Range Strike Bomber, according to a press release issued by Northrop Grumman. The company has beaten out a team of Lockheed Martin and Boeing for the $80 billion contract.
Walgreens to Acquire Rite Aid for about $17.2 Billion in Cash, Expands Company's Role of Distributing Medications in U.S.
Walgreens Boots Alliance, Inc. has announced in a press release that it will be acquiring Rite Aid Corporation in an all cash transaction that is valued at approximately $17.2 billion, including acquired net debt. The acquisition expands Walgreens’ role of delivering high-quality retail pharmacy of choice for consumers in the U.S.
Delta Airlines to Leave Industry Trade Group, Airline Not Aligned with Group on Key Issues
Delta Air Lines Inc. announced in their own press release that it has notified Airlines for America about its plans to leave the trade group next year, saving about $5 million from the annual membership fee. The airline said that the trade group has not supported it in recent years regarding several key issues.
JPMorgan Chase Launches its own Digital Wallet Chase Pay, Provides Alternative to Apple Pay
JPMorgan Chase Bank N.A., the consumer banking arm of JPMorgan Chase & Co., announced in a press release that launch of its own digital wallet Chase Pay. The new Chase Pay, which will allow consumers to pay retailers using their smartphones, is an alternative to Apple Pay.
Diebold Announces Cardless ATM, Citigroup Testing New Technology
Diebold, Inc. has announced in a press release the introduction of Irving concept, an ATM machine that dispenses cash to the consumer without the need of an ATM card. Citigroup, Inc. is testing the new technology at its innovation lab in New York.
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