Franchise News
Ford to Spend $1.3 Billion, Add 2000 Jobs to Kentucky Truck Plant, Support Launch of New Ford F-Series
Morgan Stanley Plans to Cut Quarter of its Bonds, Currency Trading Jobs, Believes Slump in Trading Revenue will Continue
McCormick & Company Appoints Lawrence Kurzius as New President and CEO For 2016, Alan D. Wilson to Remain as Executive Chairman
McCormick & Company, Inc. has announced in a press release that Lawrence E. Kurzius, the current president and COO, will be promoted to president and CEO of the company, effective Feb. 16.
Latest News
Tribune Publishing Denies Rumors of Sale, Company Not Engaged in Discussions or Process to Sell
The Tribune Publishing Co. denied the media speculation in a statement to its employees that the company is being sold and the spinoff of the Los Angeles Times, according to a report from the Chicago Tribune. The company said in the statement that it is “not engaged in any discussions or a process to sell the company.”
Swatch Partners with Visa, Allows Visa Cardholders to Pay with Swatch's New Pay-By-The-Wrist Watch
The Swatch Group Ltd. has announced in a press release that Swatch SA has signed an agreement with Visa, Inc. and Visa Europe about a partnership. The partnership will allow Visa cardholders in the U.S., Switzerland and Brazil the ability to tap and pay with Swatch’s new “pay-by-the-wrist” watch called Swatch Bellamy.
AB InBev to Sell Peroni and Grolsch, Looks to Smoothen Merger with SABMiller
Anheuser-Busch InBev (AB InBev) is planning to sell the Peroni and Grolsch brands that it would gain following its acquisition of SABMiller PLC, a person familiar with the matter told the Financial Times. The proposed transaction is AB InBev’s attempt to head off European regulatory concerns that may arise with its merger with SABMiller.
Murdoch Says Tribune Papers Likely to be Sold, LA Times to be Split Off
Rupert Murdoch, the executive chairman of News Corp., said in a tweet on his Twitter account that he had “strong word” that Tribune Publishing Co.’s newspaper group will bought by a “big Wall Street firm.” He also said that the Los Angeles Times would be split off and be purchased by philanthropist Eli Broad and local group.
Lufthansa Agrees to Pay Deal with 33,000 Personnel, Seeks to Avoid Further Strike
Deutsche Lufthansa AG has reached an agreement with Verdi, a trade union, with regards to the wages and pensions of about 33,000 ground crew and other personnel, according to a report from The Wall Street Journal. The German airline has agreed to pay its workers as it looks to avoid further strikes.
Last Boeing C-17 Departs Long Beach Facility, Marks End of Aircraft Production in Southern California
Boeing Company has announced in a press release that its final C-17 Globemaster III military aircraft has departed the company’s plant in Long Beach, California on Sunday, November 29, 2015. The departure marks the end of the aircraft production in Long Beach.
Merck Weighing Sale of Allergy Business, Looks to Reduce Debt
Merck KGaA, a German drugs and chemicals maker, is considering the sale of its allergy business Allergopharma, people with knowledge of the matter told Bloomberg. The German company is looking to reduce its debt following the $17 billion acquisition of Sigma-Aldrich Corp.
Bank of America to Stop Supplying Dollar Bills to Angola, Residents are Encouraged to Use Euros, or Other Currencies Instead
Bank of America Corp. (BofA), who provides most of the dollar notes dispensed by banks in Angola, is stopping the supply of U.S. dollar bills to banks in Angola, two people familiar with the matter told Bloomberg. Angolan banks are encouraging residents to start using euros, South African or Chinese currencies instead as greenbacks become scarce.
NextEra to Sell Fossil Generating Assets in Texas for $1.59 Billion, Reduce Exposure in the Power Business
NextEra Energy Inc. has announced in a press release that its affiliate NextEra Energy Resources LLC will be selling its ownership interest in two fossil generating assets in Texas to an affiliate of Energy Future Holdings. The transaction will help the energy company reduce its exposure in the competitive power business.
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