Jean-Claude Arnobit
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Delta Airlines to Leave Industry Trade Group, Airline Not Aligned with Group on Key Issues
Delta Air Lines Inc. announced in their own press release that it has notified Airlines for America about its plans to leave the trade group next year, saving about $5 million from the annual membership fee. The airline said that the trade group has not supported it in recent years regarding several key issues.
REI to Close on Black Friday, Urges Shoppers to Go Outside Instead
Recreational Equipment, Inc. (REI) said in a website called “optoutside” that it will be closing its doors on Black Friday. The company will be paying its employees to go outside during Black Friday and urges customers to join them.
JPMorgan Chase Launches its own Digital Wallet Chase Pay, Provides Alternative to Apple Pay
JPMorgan Chase Bank N.A., the consumer banking arm of JPMorgan Chase & Co., announced in a press release that launch of its own digital wallet Chase Pay. The new Chase Pay, which will allow consumers to pay retailers using their smartphones, is an alternative to Apple Pay.
Diebold Announces Cardless ATM, Citigroup Testing New Technology
Diebold, Inc. has announced in a press release the introduction of Irving concept, an ATM machine that dispenses cash to the consumer without the need of an ATM card. Citigroup, Inc. is testing the new technology at its innovation lab in New York.
Duke Energy to Acquire Piedmont for about $4.9 Billion in Cash, Adds Natural Gas Platform as Growth in Power Demand Slows
Duke Energy Corp. announced in a press release that it plans to acquire Piedmont Natural Gas Co., for approximately $4.9 billion in cash. The acquisition provides Duke Energy with a growing natural gas platform as demand for electricity in the U.S. softens.
Wal-Mart Asks Permission to Test Drones for Home Delivery, Pickup, Looking to Compete Against Amazon
Wal-Mart Stores, Inc. has applied to the Federal Aviation Administration (FAA) for permission to test drones for home delivery.
Famous Dave Welcomes Back its Founder, Part of Company's Reorganization
Famous Dave’s of America, Inc. has just announced in a press release that it is welcoming back its founder “Famous Dave” Anderson. His return to the company is part of a reorganization that includes having several new members to its board of directors and executive management team.
United Continental Reaches Tentative Agreement with International Brotherhood on Collective Bargaining, Awaiting Ratification
United Continental Holdings, Inc. has announced in a press release that it has reached with International Brotherhood of Teamsters to put a proposed joint collective bargaining agreement. The proposed collective bargaining agreement is just awaiting ratification.
Jeff Bezos Becomes 3rd Richest in the U.S., Adds $2.9 Billion to his Fortune
Jeff Bezos, the founder of Amazon.com Inc., is now the third-richest man in the U.S. with a net worth of $53.2 billion, according to a report from Bloomberg. Bezos added $2.9 billion to his Fortune last Friday, October 23, 2015, when Amazon.com’s shares went up by more than $35.
Toshiba Close to Selling Sensor Business to Sony, Looking to Raise Cash
Toshiba Corp. is close to selling its sensor business to Sony Corp. for about ¥20 million, or about $165 million, people familiar with the matter told Bloomberg. The company is looking to sell its assets and raise cash following an accounting scandal.
DOE Cancels Plan to Ship the First of Two Nuclear Waste to Idaho for Research, Officials Unable to Arrive at a Waiver for 1995 Agreement
The U.S. Department of Energy (DOE) has cancelled the first of the two nuclear waste coming from commercial reactors out of state that it plans to ship to the Idaho National Laboratory, according to a report from ABC NEws. The DOE cancelled the first shipment due to federal and state officials’ inability to come to terms on a waiver to a 1995 agreement.
Founder of Staples Thomas Stemberg Dies at 66, Was Battling Gastric Cancer
Thomas G. Stemberg, the man who co-founded Staples Inc. and invented the office superstore, died Friday, October 23, 2015, at his home in Chestnut Hill, according to a report from the Boston Globe. Stemberg, 66, was battling gastric cancer, which he was diagnosed with two years ago.
Rodney Slater Tapped to Audit Fiat Chrysler's Safety Practices, Part of Settlement with Federal Regulators
Rodney Slater, a former U.S. Transportation Secretary, has been tapped to audit Fiat Chrysler Automobile NV’s (FCA) safety practices, according to a report from The Wall Street Journal. The move is part of the FCA’s settlement with federal regulators.
Tyson Foods Increase Pay at Chicken Plants, Looking to Boost Employee Recruitment and Retention
Tyson Foods, Inc. announced in a press release that they will be increasing the hourly at most of its chicken plants in the U.S. The pay increase is the company’s way of trying to boost employee retention and recruitment.
TVA Receives License for Nuclear Unit, Fed's First Nuclear Reactor Approval in Nearly 20 Years
The Tennessee Valley Authority (TVA) received an operating license for its Watts Bar Unit 2 nuclear reactor, according to a press release issued by the TVA. TVA’s Watts Bar Unit 2 is the first new nuclear reactor in nearly 20 years that the U.S. Government has given approval.
Port Authority Board Approves Plan to Replace New York City Bus Terminal, Will Hold Design Competition for New Terminal
The Port Authority of New York & New Jersey board of directors have approved a plan to replace the dilapidated 65-year-old bus terminal in New York City, according to a report from the Washington Times. The Port Authority will hold an international design competition for the design of the new bus terminal and will choose a winner by September 2016.
Best Buy to Offer Free Shipping for Holiday Season, Competes Aggressively with Amazon, Wal-Mart, Target
Best Buy, the largest consumer electronic chain in the U.S., will be dropping all of the restrictions to avail of the free shipping for the holiday season, according to a report from The New York Times. The company is aiming to compete aggressively with Amazon.com, Wal-Mart and Target during the holiday season.
American Airlines to Build New Headquarters in Fort Worth, Part of Continuing Integration with U.S. Airways
American Airlines said in a letter to employees that they will be building a new headquarters and create a corporate campus in Fort Worth, Texas, according to a report from the Dallas Business Journal. The new headquarters and corporate campus is still part of the airline’s continuing integration with U.S. Airways, which it merged with two years ago.
Century Aluminum Looking to Secure New Power Deal for Mt. Holly Smelter, Will Close Down Operations if No New Deal Reached
Century Aluminum, a wholly-owned subsidiary of Century Aluminum Company is looking to secure a competitively priced power arrangement to deliver energy to Mt. Holly smelter plant, according to a press release issued by Century Aluminum. The company plans to close down the plant’s operations if no new deal is reached.
Liberty Global in Talks to Acquire Cable & Wireless Communications, Deal to Broaden Presence of Liberty in Caribbean, Latin America
Cable & Wireless Communications Plc (CWC) announced in a press release, published by the London Stock Exchange, that it is in discussions with Liberty Global Plc for a possible offer of cash and shares to acquire CWC. The acquisition, if it pushes through, would broaden Liberty Global’s presence in the Caribbean and Latin America.
CIT's CEO to Retire in March 2016, Will be Succeeded by Ellen Alemany
CIT Group Inc. announced in a press release that John A. Thain, the company’s CEO, will be retiring on March 31, 2016 but will continue to serve as chairman of the board of directors. Succeeding Thain as the new CEO once he retires will be Ellen R. Alemany, who will also become a member of the management team as vice chairman on November 1, 2015.
SolarWinds to be Acquired by Silver Lake, Thoma Bravo for about $4.5 Billion, Sees Potential of SolarWinds
SolarWinds, a leading provider of powerful and affordable IT management software, announced in a press release that it will be acquired by Silver Lake Partners and Thoma Bravo, LLC, for approximately $4.5 billion in cash. The two companies, which will take SolarWinds private, see the potential for the company to extend and grow.
Shortage of LEGO During Christmas Time will Affect Europe, Company's Manufacturer Unable to Keep Up with Demand
The LEGO Group has announced that it will be having a shortage of supplies of LEGO for the holiday season in some countries, according to a report from USA Today. The company has been doing so unexpectedly well that its manufacturers will be unable to keep up with demand come December.
Fresh & Easy Begins Closing Down its Operations, Still Looking for Buyers
Fresh & Easy, a struggling grocery chain, is beginning the process of winding down its business operations, according to a report from The Orange County Register. The company though, is still looking for buyers to sell part or all of its locations and operations.
Mcdonald's Testing Sales of Monster Energy Drink, Looking for Boost in Sales
McDonald’s Corp. is testing the sales of Monster Beverage Corp’s energy drinks in about 20 U.S. branches, according to a report from The Wall Street Journal. The fast food restaurant chain is looking for a boost to reverse its sales slump.
EOS USA Opens Call Center in Somerset, Kentucky, Creates 150 Jobs
EOS USA, a provider of customer care and receivables management services, has opened a new flagship customer-service call center at Somerset, Kentucky, according to a report from The Lane Report. The new call center office provides the Pulaski County with 150 jobs.
ESPN Plans to Cut 350 Jobs, Rising Costs of Programming, Loss of Viewers Confront Company
People familiar with the matter have told Bloomberg that ESPN is planning to cut as many as 350 jobs, about 4.3 percent of the company’s workforce. The job cuts are due to the rising costs in programming and loss of viewership.
Blackstone and Ivanhoe Cambridge Acquires Stuyvesant Town and Peter Cooper Village, Preserves Affordable Apartments
New York City Mayor Bill de Blasio, local elected officials and tenant leaders have announced in a press release that the Blackstone Group L.P. and Ivanhoe Cambridge, a subsidiary of Caisse de dépôt et placement du Québec, a leading Canadian pension fund manager, will acquire Stuyvesant Town and Peter Cooper Village. The two companies have agreed to preserve the affordable apartments.
Shareholders of Aetna and Humana Approve Acquisition, Still Needs Approval of Federal Regulators
Aetna, Inc. announced in a press release that their shareholders and the shareholders of Humana, Inc. have approved the proposal related to Aetna acquiring Humana. The proposed acquisition now only needs the approval of federal regulators for the deal to push through.
Amazon to Hire 100,000 Seasonal Employees, Deal with Increased Demand Over Holiday Period
Amazon.com, Inc. announced in a press release that it will be hiring 100,000 seasonal employees across its U.S. network of fulfillment and sortation centers this coming holiday season. The large number of seasonal hires will help the company meet the increase in customer demand.
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