Jean-Claude Arnobit
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Energy Recovery Announces 15-Year License Agreement with Schlumberger, Provides Exclusive Rights to Energy's VorTeq Hydraulic Pumping System
Energy Recovery, Inc., the leader in pressure energy technology for industrial fluid flows, has announced in a press release that it has signed a 15-year deal Schlumberger Technology Corporation. The deal involves Schlumberger having exclusive rights to Energy Recovery’s VorTeq hydraulic pumping system.
Brett J. Hart Named as Acting CEO of United Airlines, Munoz Takes Medical Leave
United Continental Holdings Inc. has named Brett J. Hart, the executive vice president and general counsel of the company, to be active CEO of United Airlines, according to a press release issued by United Airlines. Oscar Munoz, the current president and CEO of United Airlines, will be taking a medical leave, following his hospitalization due to a heart attack on October 15, 2015.
Western Digital in Advanced Talks to Acquire SanDisk, Continues Trend of Dealmaking in Semiconductor Industry
Western Digital Corp. is in advanced talks with SanDisk Corp. in which Western Digital will acquire SanDisk, people familiar with the matter told Bloomberg. The people add that a deal could be reached as soon as this week. Reuters adds that the transaction continues the frenzy of dealmaking within the semiconductor industry.
Square Hires Jackie Reses to Lead Square Capital, Yahoo! Loses Another Executive
Square, Inc. has hired Jackie Reses, the current chief development officer of Yahoo! Inc., to lead the company’s business financing service Square Capital, according to a news release issued by Square. The move deals a big blow to Yahoo! as it loses another top executive.
Oprah Winfrey Buys 10% Stake at Weight Watchers, Part of Partnership to Inspire People to Live Healthier Life
Oprah Winfrey has bought newly issued shares, which represents 10 percent of the outstanding shares of Weight Watchers International, Inc. and has an option to acquire an additional five percent of the newly diluted shares, according to a press release issued by Weight Watchers. The acquisition is part of groundbreaking partnership between Winfrey and Weight Watchers to inspire people around the world to lead a healthier and more fulfilling life.
Walmart's CEO Defends Investments in Labor, Stores, Web, Following Market's Reaction to Retailer's Latest Forecast
Douglas McMillon, the CEO of Wal-Mart Stores, Inc., defended his investments in labor, the store, and the web in a blog post on Wal-Mart’s website. The defense of his investment follows the market’s reaction after the company forecasted lackluster sales growth for this year and dip in profits for next year.
Alibaba Lobbying Hard to Stay Off U.S. Blacklist, Following Renewed Suspected Counterfeits Sold on Shopping Platforms
Alibaba Group Holding Ltd. is pushing hard to stay off the U.S. Trade Representative’s blacklist, according to a report from Reuters. The Chinese e-commerce giant is facing renewed pressure this year due to suspected counterfeits being sold on its shopping platforms.
Air France Scales Back Number of Jobs it Plans to Cut in 2016, Job Cuts in 2017 Could Be Avoided
Alexandre de Juniac, the CEO of Air France, has scaled back the number of jobs it plans to cut in 2016 to fewer than 1,000, down from the 2,900 it earlier proposed, according to a report from Reuters. The job losses in 2017 could be avoided if the talks with unions will lead to an agreement on alternative savings measures by the beginning of next year.
United Airlines Remains Silent on Medical Condition of CEO, No Word on Who Will Temporarily Take Over
United Continental Holdings, Inc. declined to provide any details regarding the medical condition of Oscar Munoz, the company’s CEO, which was rushed to a hospital a few days earlier, according to a report from Reuters. The company has not even stated on who will temporarily replace Munoz as CEO while he continues to recover.
Deutsche Bank Announces Organizational Restructuring, Reorganization of Key Management Roles to Better Meet Client Demands
Deutsche Bank AG revealed during an extraordinary meeting in Frankfurt that the Supervisory Board of the company decided to restructure the bank’s business division and reorganize the executive committee and senior management, according to a press release issued by Deutsche Bank. The bank’s restructuring and reorganization will enable it to meet client demands and requirements of supervisory authorities.
U.S. to Announce the Registration of Drones, Address Increasing Number of Unauthorized Drone Sightings
The U.S. government is planning to announce a new initiative that would require people who plan to buy a drone to register the device with the U.S Department of Transportation, according to a report from NBC News. The new initiative is the government’s response to the increased reports of unauthorized sightings of unmanned drones near airports and crowded public venues.
McDonald's All-Day Breakfast Not Liked by Franchisees, Slowed Down Service and Created Chaos in Kitchens
Franchisees of McDonald’s are not liking the all-day breakfast menu that the fast food chain launched on Oct. 6, 2015, saying it has been a disaster, according to a report from the New York Post. They are saying that the all-day breakfast has slowed down service, lowered average bills and created chaos in the kitchen.
Steve Ballmer Reveals that He has a 4% Stake in Twitter, Boosts the Company's Stock Price
Steve Ballmer, the owner of the Los Angeles Clippers basketball team and the former CEO of Microsoft, revealed in a tweet that he has a four percent stake at Twitter, Inc. Forbes adds that the revelation of Ballmer has boosted Twitter’s stock by nearly five percent on Friday, October 16, 2015.
Viacom and Cablevision Settles Antitrust Litigation, Enter a Mutually Beneficial Business Arrangement
Viacom, Inc. and Cablevision Systems Corporation have settled their antitrust litigation that is related to a 2012 carriage agreement between the two companies, according to a press release issued by Viacom. The two companies are also entering into mutually beneficial business arrangements.
United Airlines CEO Hospitalized, Airline Continues to Operate Normally
The family of Oscar Munoz, the CEO of United Airlines, said that he was admitted to a hospital on Thursday, according to a press release issued by United Airlines. The airline said that they will still continue to operate normally despite the absence of their CEO.
Alibaba Proposes to Acquire All Outstanding Shares of Youku Tudou, Expand Partnership of Both Companies
Alibaba Group announced in a press release that it has made a non-binding proposal to acquire all the outstanding shares of Youku Tudou, Inc., including all the American depository shares (ADS) that Alibaba doesn’t already own. The transaction would expand the existing partnership between Alibaba and Youku Tudou.
Uber Wins High Court Case, Declared Legal in London
Uber Technologies, Inc., an online private car-hailing service, won a rare legal victory in Europe as a London High Court decided in its favor, according to a report from The Wall Street Journal. The high court declared the ride-sharing app to be legal in London.
Mortgage Rates Increased Slightly, Remains Below 4% for 12th Straight Week
Freddie Mac said in a press release that their Primary Mortgage Market Survey show mortgage rates have nudged slightly higher. The rates, however, have remained below four percent and will probably remain lower longer than previously reported.
Volkswagen to Recall 8.5 Million Vehicles in Europe, Following Order of German Authorities for Automaker to Recall 2.4 Million Vehicles in the Country
Volkswagen AG announced in a press release that it will be recalling approximately 8.5 million vehicles in Europe in relation to the rigged diesel emission testing. The automaker announced the recall following the order of The Federal Motor Transport Authority or KBA to recall 2.4 million vehicles in Germany.
Boeing Announces EVA Airways Intent to Purchase 26 Widebody Airplanes, Gives 787-10 Dreamliner a Boost
Boeing announced in a press release that EVA Airways, a Taiwan airline company, is intending to purchase 24 787-10 Dreamliner airplanes and two additional 777-300ER jetliners, a value that totals $8 billion at current list prices. The announcement is a big boost to the airplane manufacturer’s 787-10 Dreamliner jets.
Apple Launches Restricted Stock Unit Program for Employees, Including Retail, to Retain Talent
Apple, Inc. has launched the Restricted Stock Unit (RSU) program, a program that is usually reserved for the top management and top-ranking employees of the company, to be available to all its employees, including retail, according to a report from 9to5Mac. The program being extended to all employees is usually Apple’s way of retaining employee talent for long periods of time.
Yum! Brands Announces Appointment of Keith Mester into Board, Updates Outlook for 2015
Yum! Brands, Inc., the company that owns KFC, Pizza Hut and Taco Bell, has announced in a press release the appointment of Keith A. Meister into its board of directors. The company also updated its outlook for 2015.
Synchrony Receives Approval from Federal Reserve Bank, One Step Closer to Becoming Fully Independent Company
Synchrony Financial has received a key approval from the Federal Reserve System Board of Governors to become a standalone savings and loan holding company, according to a press release issued by Synchrony. The approval marks a major step for Synchrony to become a fully independent company.
Northrop Announces Organizational Changes, Appoints New COO
Northrop Grumman Corporation, a leading global security company, will be undergoing structural changes to better align the company’s businesses, according to a press release issued by Northrop Grumman. The company also announced that it will be appointing Gloria Flach as its new COO.
Union Square Hospitality Group Eliminates Tipping Throughout All Restaurants, Provides Equal Compensation for Employees
Danny Meyer, the CEO of Union Square Hospitality Group, said in a letter published by Union Square that the company will be eliminating tipping throughout all of the company’s family of restaurants. This move allows Union Square to equally, competitively, and professionally compensate all of their employees.
Uber Launches Delivery Service, Allows Businesses to Get Customers What They Want
Uber announced in a blog post the launching of UberRUSH, it's new delivery service that allows businesses in Chicago, New York, and San Francisco to provide delivery to its customers. Businesses in these areas just need to press a button in their Uber app to get customers what they want and when they want it.
Twitter Hires Omid Kordestani as Executive Chairman, Latest Step in Company's Turnaround Efforts
Twitter Inc. has just hired Omid Kordestani, an executive from Google Inc., to be their new executive chairman, according to a report from Reuters. The move is the latest step in the social media company’s latest turnaround effort under COE Jack Dorsey.
Paypal Announces Expansion of Free Return Service, Hopes to Increase Percentage of Online Holiday Sales
Paypal Holdings Inc., will be expanding its free return service called “Return Shipping On Us,” which is now available in the U.S., according to a report from Techcrunch. Paypal is expanding the service in hopes of increasing its percentage of online holiday sales.
Entergy to Close Down Pilgrin Nuclear Power Station in Massachusetts, Due to Low Energy Prices, High Operating Costs, Little Expectation of Market Improvements
Entergy Corporation, an integrated energy company engaged primarily in electric power production and retail distribution operations, will be closing down its Pilgrim Nuclear Power Station in Plymouth, Massachusetts no later than June 1, 2019, according to a press release issued by Entergy. The closing down of the nuclear power station is due to poor market conditions, increased operational costs, and reduced revenues.
Etihad Signs $700 Million Technology Service Agreement with IBM, Enhance Airline's Guest Experience, Develop Infrastructure, Security
Etihad Airways has signed a ten-year technology service agreement with IBM worth approximately $700 million, according to a press release issued by Etihad. The agreement will allow the airline to enhance its guest experience, develop infrastructure and security, and improve efficiency.
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