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Blackstone and Ivanhoe Cambridge Acquires Stuyvesant Town and Peter Cooper Village, Preserves Affordable Apartments
Shareholders of Aetna and Humana Approve Acquisition, Still Needs Approval of Federal Regulators
ESPN Plans to Cut 350 Jobs, Rising Costs of Programming, Loss of Viewers Confront Company
People familiar with the matter have told Bloomberg that ESPN is planning to cut as many as 350 jobs, about 4.3 percent of the company’s workforce. The job cuts are due to the rising costs in programming and loss of viewership.
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Western Digital in Advanced Talks to Acquire SanDisk, Continues Trend of Dealmaking in Semiconductor Industry
Western Digital Corp. is in advanced talks with SanDisk Corp. in which Western Digital will acquire SanDisk, people familiar with the matter told Bloomberg. The people add that a deal could be reached as soon as this week. Reuters adds that the transaction continues the frenzy of dealmaking within the semiconductor industry.
Square Hires Jackie Reses to Lead Square Capital, Yahoo! Loses Another Executive
Square, Inc. has hired Jackie Reses, the current chief development officer of Yahoo! Inc., to lead the company’s business financing service Square Capital, according to a news release issued by Square. The move deals a big blow to Yahoo! as it loses another top executive.
Oprah Winfrey Buys 10% Stake at Weight Watchers, Part of Partnership to Inspire People to Live Healthier Life
Oprah Winfrey has bought newly issued shares, which represents 10 percent of the outstanding shares of Weight Watchers International, Inc. and has an option to acquire an additional five percent of the newly diluted shares, according to a press release issued by Weight Watchers. The acquisition is part of groundbreaking partnership between Winfrey and Weight Watchers to inspire people around the world to lead a healthier and more fulfilling life.
Walmart's CEO Defends Investments in Labor, Stores, Web, Following Market's Reaction to Retailer's Latest Forecast
Douglas McMillon, the CEO of Wal-Mart Stores, Inc., defended his investments in labor, the store, and the web in a blog post on Wal-Mart’s website. The defense of his investment follows the market’s reaction after the company forecasted lackluster sales growth for this year and dip in profits for next year.
Alibaba Lobbying Hard to Stay Off U.S. Blacklist, Following Renewed Suspected Counterfeits Sold on Shopping Platforms
Alibaba Group Holding Ltd. is pushing hard to stay off the U.S. Trade Representative’s blacklist, according to a report from Reuters. The Chinese e-commerce giant is facing renewed pressure this year due to suspected counterfeits being sold on its shopping platforms.
Air France Scales Back Number of Jobs it Plans to Cut in 2016, Job Cuts in 2017 Could Be Avoided
Alexandre de Juniac, the CEO of Air France, has scaled back the number of jobs it plans to cut in 2016 to fewer than 1,000, down from the 2,900 it earlier proposed, according to a report from Reuters. The job losses in 2017 could be avoided if the talks with unions will lead to an agreement on alternative savings measures by the beginning of next year.
United Airlines Remains Silent on Medical Condition of CEO, No Word on Who Will Temporarily Take Over
United Continental Holdings, Inc. declined to provide any details regarding the medical condition of Oscar Munoz, the company’s CEO, which was rushed to a hospital a few days earlier, according to a report from Reuters. The company has not even stated on who will temporarily replace Munoz as CEO while he continues to recover.
Deutsche Bank Announces Organizational Restructuring, Reorganization of Key Management Roles to Better Meet Client Demands
Deutsche Bank AG revealed during an extraordinary meeting in Frankfurt that the Supervisory Board of the company decided to restructure the bank’s business division and reorganize the executive committee and senior management, according to a press release issued by Deutsche Bank. The bank’s restructuring and reorganization will enable it to meet client demands and requirements of supervisory authorities.
U.S. to Announce the Registration of Drones, Address Increasing Number of Unauthorized Drone Sightings
The U.S. government is planning to announce a new initiative that would require people who plan to buy a drone to register the device with the U.S Department of Transportation, according to a report from NBC News. The new initiative is the government’s response to the increased reports of unauthorized sightings of unmanned drones near airports and crowded public venues.
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