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Twitter to Cut about 8% of Workforce, Part of Plan to Focus on Product Priorites, Provide Efficiency Company
Dell to Acquire EMC for about $67 Billion, Will Create Largest Integrated Technology Company
Jes Staley Set to be Announced as Barcaly's New CEO, Analysts Concerned that Bank Will Go Back to Focusing on Investment Banking
People familiar with the matter told Financial Times that Barclays is planning to appoint Jes Staley, the former head of investment banking at J.P. Morgan & Chase Co., to be their next CEO. Staley’s appointment, which is awaiting approval from regulators, is set to be announced in the next two weeks. Analysts are concerned that the hiring of Staley would mean Barclays would go back towards investment banking, according to The Wall Street Journal.
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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.
Walmart Names New CFO, Charles Holley to Retire by End of Year
Wal-Mart Stores, Inc. has appointed Brett Biggs, the executive vice president and CFO of Walmart International, to be the successor of Charles Holloway, the company’s CFO, according to a press release issued by Wal-Mart. The appointment of Biggs will be effective on Dec. 31, 2015, the date Holloway will be retiring as Wal-Mart’s CFO.
Tegna Blacks Out Dish Customers in 38 Markets Due to Contract Dsipute
Tegna, Inc. a company that operates television stations and consumer websites, have blacked out customers of Dish Network Corp., according to a press release issued by Dish Network. The blackout was Tegna’s way to gain leverage in its contract negotiations with Dish Network.
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.
California to Phase Out the Use of Microbeads in Personal Care Products, Avoid Polluting Water
California joins other states that will prohibit the sale of personal care products like soap, facial and body scrubs, toothpaste, and other products with microbeads, according to a report from Los Angeles Times. Environmentalists have been pushing for the approval of the legislation to ban the use of plastic microbeads. They are saying that plastic microbeads can get into typical water treatment plants and end up polluting the water.
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