Biz/Tech
Amazon.com Introduces Amazon Books, Opens its First Real Bookstore at University Village
Amazon.com Expands Paid Leave to New Parents, Enhances Benefits to Attract and Retain Talent
RBC Completes Acquisition of City National, Will Hire More Bankers
Royal Bank of Canada (RBC) has announced in a press release that it has completed the $5 billion acquisition of City National Corporation. The bank plans to hire more than 100 bankers and open another office in New York as it seeks to expand City National.
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Sprint to Slash Costs by $2.5 Billion, Will Do it Through Job Cuts and Other Cost Controls
Sprint Corp. is planning to cut as much as $2.5 billion in its fiscal 2016 expenses, according to a report from Reuters. The company said that the cut in expense will come from layoffs and a wide array of cost controls.
Airbnb Fighting Critical Battle in San Francisco, Spent more than $8 Million to Campaign Against Inititative
Airbnb Inc. is fighting a battle in its own backyard as it campaign against San Francisco’s Proposition F, an initiative that would limit the company’s short-term rentals, according to a report from Reuters. Airbnb has spent more than $8 million and hired a top political operative to campaign against the proposition.
Amazon to Shutdown Amazon Local Later This Year, Will Stop Selling Daily Deals
Amazon.com will be shutting down its Amazon Local website and Amazon Local app on December 18, 2015, according to Amazon Local’s help page. The online retailer will stop selling its daily deals on the said date.
HP to Split into Two Public Companies, As its CEO Seeks to Reinvent the Company
Hewlett-Packard Company has announced in a press release that it plans to separate the company into two new publicly traded Fortune 50 companies. The split is part of Meg Whiteman’s, the president, chairman and CEO of HP, plan to reinvent the company.
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.
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