Biz/Tech
BlackRock Acquires BofA's $87 Billion Cash Assets, Strengthens Cash Distribution Relationship
Expedia to Acquire HomeAway for about $3.9 Billion in a Cash and Stock Transaction, Better Compete Against Airbnb
Expedia, Inc. announced in a press release that it will be acquiring HomeAway, Inc. for approximately $3.9 billion in a cash and stock transaction. The transaction is seen as Expedia’s way of trying to compete better with apartment-sharing app Airbnb Inc.
Latest News
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.
EPA Issues 2nd Notice of Violation to Volkswagen, Finds Cheating Software on Audi and Porsche as Well
The Environmental Protection Agency (EPA) has announced in a press release that they are issuing a second notice of violation of the Clean Air Act to Volkswagen AG, Audi AG, Volkswagen Group of America, Inc., Porsche AG and Porsche Cars North America. The EPA said that they have found that Volkswagen allegedly installed cheating software in certain Volkswagen, Audi and Porsche light duty diesel vehicles equipped with 3.0-liter engines for the model year 2014 through 2016.
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.
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