Franchise News
Paypal Announces Expansion of Free Return Service, Hopes to Increase Percentage of Online Holiday Sales
Entergy to Close Down Pilgrin Nuclear Power Station in Massachusetts, Due to Low Energy Prices, High Operating Costs, Little Expectation of Market Improvements
Twitter Hires Omid Kordestani as Executive Chairman, Latest Step in Company's Turnaround Efforts
Twitter Inc. has just hired Omid Kordestani, an executive from Google Inc., to be their new executive chairman, according to a report from Reuters. The move is the latest step in the social media company’s latest turnaround effort under COE Jack Dorsey.
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Dell to Acquire EMC for about $67 Billion, Will Create Largest Integrated Technology Company
Dell Inc. has announced in a press release that it will be acquiring EMC Corporation for approximately $67 billion. The combination of the two companies will create the world’s largest privately-controlled, integrated technology company.
Glencore to Sell Two of its Copper Mines as Interest from Potential Buyers are High, Part of Plan to Cut Debt
Glencore Plc has announced in a press release that it is commencing the process of selling its Cobar copper mine in Australia and the Lomas Bayas copper mine in Chile. The sale is a response to the high number of unsolicited expressions of interests for these mines from potential buyers. Reuters adds that the sale is also part of Glencore’s plan to reduce the company’s debt burden that was accumulated during an asset purchase spree.
Deutsche Bank Considering Sale of Abbey Life, Part of Restructuring Plan to Restore Profitability
Several people familiar with the matter said that Deutsche Bank is considering the possibility of selling its insurance unit Abbey Life, according to a report from Bloomberg. The possible sale is part of the company’s plan to restructure itself and restore the company back to profitability.
Ford to Invest $1.8 Billion on Research and Development on Smart Cars in China, Looking to Increase Sales in Asian Country
Ford Motor Co. is investing about 11.4 billion yuan or about $1.8 billion over the next five years on research and development for smart cars that is aimed to attract Chinese buyers, according to a report from The Wall Street Journal. The automaker is looking to increase its sales in the second largest economy in the world with its investment.
Pepsi, Coca-Cola Competing for Investment in Chobani, Shows Beverage Companies' Push to Diversify from Carbonated Beverage Sector
People familiar with the matter told Reuters that PepsiCo Inc. and the Coca-Cola Company are both in talks with Chobani LLC for a possible investment deal that will provide the Greek yogurt maker as much as $3 billion, including debt. The negotiations of both Pepsi and Coca-Cola show that beverage companies are trying to diversify beyond the carbonated beverage sector.
China Tightens Oversight of Private-Car-Hailing Services,Seen as a Major Setback for Companies like Uber
China is planning to tighten the oversight of online private-car-hailing services, like Uber and Didi Kuaidi, according to a report from The Wall Street Journal. The plan, if strictly enforce, will deal a major setback to companies like Uber and Didi Kuaidi, regulating them like traditional taxis, which would fold their carpooling services in China and require them to operate in a higher-cost.
Kentucky Health Co-Op is Closing, Subsidy Cu, Risks Cited as Reason
The Kentucky Health Cooperative, a member-governed non-profit organization that is dedicated to making health insurance available for all Kentuckians, is going out of business according to a report from Central KY News. The Kentucky Health is going out of business due to losing so much money and the U.S. Congress cutting its subsidies to insurers who wound up with a costlier group of policyholders under the federal health-reform law.
Former CEO of Anglo Irish Bank Faces Extradition Hearing in the U.S., Will be Facing Criminal Charges in Ireland
David Drumm, the former CEO of Anglo Irish Bank Corp., is facing an extradition hearing in Boston, after he was captured in the U.S., according to a report from Bloomberg. Drumm will be facing as many as 30 counts of criminal charges once he is extradited to Ireland.
Tribune Real Estate Explores Strategic Monetization Alternative for Tribune Tower, Likely to Get High Interest
Tribune Real Estate Holdings, LLC., a wholly-owned subsidiary of Tribune Media Company, is looking to sell the Tribune Tower and its adjacent land, according to a press release issued by Tribune Media. The Tribune Tower is a 36-story building that sits on three acres and has 305 feet of frontage on North Michigan Avenue, the premiere street for shopping and entertainment in Chicago. Developers have told the Chicago Tribune that interests in acquiring the prominent tower will likely be as high as the potential sale price.
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