Franchise News
Twitter Planning Company-Wide Layoffs, Comes at the Same Time the Company Plans to Restructure Engineering Organization
Blackstone to Acquire BioMed Realty for about $8 Billion, Believes in Long-Term Potential of Sector
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.
Latest News
U.S. Unemployment Claims Fall More Than Expected, Near 42-Year Low
A press release from the U.S. Department of Labor (DOL) has shown that the number of Americans filing for unemployment benefits is at 263,000 for the week that ended on October 3, 2015. The seasonally adjusted figure came out lower than expected and has nearly approached the 42-year low.
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.
Lumber Liquidators to Pay $10 Million in Fines, Part of Settlement for Lacey Act Investigation
Lumber Liquidators Holdings, Inc. will be paying a combined total of $10 million in fines to the Environment and Natural Resources Division of the U.S. Department of Justice (ENRD), according to a press release issued by Lumber Liquidators. The payment is part of a settlement that Lumber Liquidators reached with the ENRD in the former’s compliance with the Lacey Act, a U.S. conservation law regarding the protection of plants, fish, and wildlife.
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.
SunEdison to Reduce Global Workforce by 15%, Part of Restructuring Plan to Optimize Business Operations
SunEdison, Inc. will be reducing its global workforce by approximately 15 percent as a response to the current and expected market conditions and to remove duplicative activities as a result of merger and acquisition, according to a SEC filing by SunEdison. The workforce reduction is part of a restructuring that the company is conducting to optimize business operations and to accelerate cash flow positive operations.
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.
AmerisourceBergen to Acquire PharMEDium for $2.575 Billion, Expands Company's Service Offerings for Health Systems
AmerisourceBergen Corp. announced in a press release that it will be acquiring PharMEDium Healthcare Holdings, Inc. for $2.575 billion in cash from Clayton, Dubilier & Rice. The acquisition will expand AmerisourceBergen’s service offerings for health systems.
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