Biz/Tech
Dell to Acquire EMC for about $67 Billion, Will Create Largest Integrated Technology Company
Glencore to Sell Two of its Copper Mines as Interest from Potential Buyers are High, Part of Plan to Cut Debt
Twitter to Cut about 8% of Workforce, Part of Plan to Focus on Product Priorites, Provide Efficiency Company
Twitter, Inc. is planning to lay off up to 336 employees, or about 8 percent of the company’s global workforce, according to a SEC filing by Twitter. The job cuts are part of an overall plan to organize the company around its top priority products and drive efficiencies.
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Netflix Increases Most Popular Plan by $1, Cover the Cost of Licensing Shows and Funding Original Programs
The price of Netflix Inc.’s most popular streaming subscription plan has been raised by $1 to $9.99 a month, according to a report from Bloomberg. The price increase is for Netflix to cover the costs of licensing shows and funding its original programs, which is growing in numbers.
Twitter Planning Company-Wide Layoffs, Comes at the Same Time the Company Plans to Restructure Engineering Organization
Multiple sources have told Re/code that Twitter, Inc. is planning to have company-wide layoffs next week, Jack Dorsey’s first move as the new CEO. It is unclear how many people will be cut, but sources say that it will affect all departments. Sources told Re/code that the downsizing comes at the same time the company is making its engineering organization leaner and more efficient.
Blackstone to Acquire BioMed Realty for about $8 Billion, Believes in Long-Term Potential of Sector
The Blackstone Group will be acquiring BioMed Realty Trust, Inc. for $23.75 per share in an all-cash transaction that is valued at $8 billion, according to a press release issued by BioMed Realty. Blackstone believes in the long-term potential of the realty business sector that caters to tenants of life sciences industry.
Amazon Launches Handmade at Amazon, Provides Customers, Artisans Store for Handcrafted Items
Amazon.com announced in a press release that it has launched Handmade at Amazon, a new store that features genuinely handmade items that are crafted and sold directly by artisans. The new store provides customers with a store to buy genuinely handcrafted items and for artisans to feature them.
Peet's Coffee to Acquire Stumptown Coffee, Both Companies Will Still Operate Independently but Stumptown Getting Access to Peet's Resources and Scale
Peet’s Coffee & Tea announced in a press release that they will be acquiring the ownership of Stumptown Coffee Roasters from its shareholders, including TSG Partners LLC, who holds a majority stake at Stumptown Coffee. Both companies will still continue to operate independently from each other with Peet’s Coffee providing Stumptown Coffee with full access to its resources and scale.
Gannett to Acquire Journal Media Group for about $280 Million, Enhances Gannett's Portfolio in U.S., Increase Digital Audience
Gannett Co., Inc., owner of USA Today, has announced in a press release that it will be acquiring Journal Media Group, Inc. for approximately $280 million, net of acquired cash. The acquisition will enhance Gannett’s portfolio in the U.S. and increase its digital audiences.
Jet.com Drops 50 Annual Membership Fee Due to High Adoption Rate of Smart Cart
Marc Lore, the CEO and founder of Jet.com, an online marketplace that is trying to rival Amazon and Costco, said in a blog post that they will be dropping the $50 annual membership fee that they are supposed to charge customers once the free-trial ends. The reason for the change was due to the high adoption rate of its Smart Cart, a feature that lowers prices for each items added.
Diageo and Heineken Swap Assets, Brings Increased Focus to their Respective Beer Businesses
Diageo has sold its shares in Desnoes & Geddes Limited and in Guinness Anchor Berhad to Heineken while also acquiring Heineken’s shares in Guinness Ghana Breweries Limited, according to a press release issued by Diageo. The transaction brings increased focus to each company’s respective beer businesses in Jamaica, Malaysia, Singapore and Ghana.
Rolls-Royce Invests Nearly $600 Million in Facilities in Indianapolis, Modernize Manufacturing, Conduct Technology Research
Rolls-Royce Holdings Plc is investing close to $600 million in the company’s facilities in Indianapolis to ensure that Indiana remains a leader in the aerospace industry for decades to come, according to a press release issued by Rolls-Royce. The investment is for the modernization of the manufacturing operations and to conduct technology research.
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