Franchise News
Lufthansa Announces Cancellation of 929 Flights Due to Labor Union Strike, Discussions on Retirement and Wage Issue Broke Down
Singapore Airlines to Buy Remaining Shares of Tiger Airways, Plans to Delist, Privatize Airline
Several Retailers Will Still Open at 6 P.M. on Thanksgiving Day, Betting that Millions Still Want to Shop on that Day
Several of the biggest retailers in the U.S. will still be sticking to what’s become a Black Friday shopping tradition and open their stores at 6 p.m. on Thanksgiving Day, according to a report from USA Today. These retailers are betting that millions of people would still want to shop on Thanksgiving.
Latest News
Alibaba Acquires Youku Tudou, Looking to Stream More Content to Chinese Internet Users
Alibaba Group Holding Limited announced in a press release that it will be acquiring Youku Tudou, Inc. in an all-cash transaction. Jack Ma, the founder and executive chairman of Alibaba Group, is looking to stream more content to Chinese Internet through Youku.
Verizon Exploring the Sale its Enterprise Business, Looks to Focus on Core Business
Verizon Communications Inc. is looking to sell its enterprise business, which could be worth as much as $10 billion, people familiar with the matter told Reuters. The largest wireless carrier in the U.S. is looking to focus more on its core business.
Thanksgiving Air Travel to Rise to 25.3 Million Passengers, Highest Since the Great Recession
Airlines for America (A4A), the industry trade organization for the leading U.S. airlines, said in a press release that the air travel during the 12-day Thanksgiving travel period this year is projected to increase 3 percent from the 24.5 million estimated in 2014. The projected 25.3 million passengers that will travel globally on U.S. airlines is the highest number since the Great Recession.
UAW Reaches Tentative Agreement with Ford, Agreement to be Reviewed by Local Union Leaders
The United Automobile Workers (UAW) union have reached a proposed tentative agreement on labor contracts with Ford Motor Company, according to a press release issued by the UAW. The bargaining team of UAW has voted unanimously to send the proposed tentative agreement to local union leaders who make up UAW’s National Ford Council (NFC) for review.
Goldman Sachs to Promote Junior Bankers Quicker, Part of Effort to Retain Talent
Goldman Sachs Group Inc. has unveiled a series of changes within the company, including promoting junior bankers quicker, according to a report from Reuters. The company is looking to retain more talent with its series of changes.
Boeing and Lockheed Martin Protests Awarding of Bomber Contract to Northrop, Asks the Government Accountability Office to Review the Decision
Boeing Company and Lockheed Martin have filed a formal complaint, protesting the awarding of the Long Range Strike-Bomber (LRS-B) contract to Northrop Grumman, according to a press release issued by Boeing. The two companies are asking the Government Accountability Office (GAO) to review the decision to award the contract.
Lockheed Martin Completes Acquisition of Sikorsky, Advances its Commitment to Provide Affordable and Efficient Mission-Ready Solutions
Lockheed Martin announced in a press release that they have completed the acquisition of Sikorsky Aircraft, a world leader in military and commercial rotary-wing aircraft. The acquisition advances Lockheed’s commitment to providing customers with affordable and efficient mission-ready solutions.
The Washington Metropolitan Area Transit Names Paul Wiedefeld New GM and CEO, Will Take Over Troubled Transit
The Washington Metropolitan Area Transit Authority (WMATA) has hired Paul Wiedefeld, the former CEO of Baltimore’s international airport, to be their new general manager and CEO, according to a press release issued by WMATA. Wiedefeld will be taking over a troubled a mass transit authority that is plagued by operational problems and worsening financial woes.
United Continental CEO Plans to Return on Early 2016 Following Heart Attack, Ends Uncertainty on Who will Run the Airline
Oscar Munoz, the president and CEO of United Continental Holdings Inc. said in a statement published on the company’s website that he plans to return to work in the first quarter of 2016. Munoz’s plan to return ends any uncertainty on who will lead the airline.
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