Jean-Claude Arnobit
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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.
Twitter to Cut about 8% of Workforce, Part of Plan to Focus on Product Priorites, Provide Efficiency Company
Twitter, Inc. is planning to lay off up to 336 employees, or about 8 percent of the company’s global workforce, according to a SEC filing by Twitter. The job cuts are part of an overall plan to organize the company around its top priority products and drive efficiencies.
Dell to Acquire EMC for about $67 Billion, Will Create Largest Integrated Technology Company
Dell Inc. has announced in a press release that it will be acquiring EMC Corporation for approximately $67 billion. The combination of the two companies will create the world’s largest privately-controlled, integrated technology company.
Glencore to Sell Two of its Copper Mines as Interest from Potential Buyers are High, Part of Plan to Cut Debt
Glencore Plc has announced in a press release that it is commencing the process of selling its Cobar copper mine in Australia and the Lomas Bayas copper mine in Chile. The sale is a response to the high number of unsolicited expressions of interests for these mines from potential buyers. Reuters adds that the sale is also part of Glencore’s plan to reduce the company’s debt burden that was accumulated during an asset purchase spree.
Deutsche Bank Considering Sale of Abbey Life, Part of Restructuring Plan to Restore Profitability
Several people familiar with the matter said that Deutsche Bank is considering the possibility of selling its insurance unit Abbey Life, according to a report from Bloomberg. The possible sale is part of the company’s plan to restructure itself and restore the company back to profitability.
Ford to Invest $1.8 Billion on Research and Development on Smart Cars in China, Looking to Increase Sales in Asian Country
Ford Motor Co. is investing about 11.4 billion yuan or about $1.8 billion over the next five years on research and development for smart cars that is aimed to attract Chinese buyers, according to a report from The Wall Street Journal. The automaker is looking to increase its sales in the second largest economy in the world with its investment.
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.
Twitter Planning Company-Wide Layoffs, Comes at the Same Time the Company Plans to Restructure Engineering Organization
Multiple sources have told Re/code that Twitter, Inc. is planning to have company-wide layoffs next week, Jack Dorsey’s first move as the new CEO. It is unclear how many people will be cut, but sources say that it will affect all departments. Sources told Re/code that the downsizing comes at the same time the company is making its engineering organization leaner and more efficient.
Blackstone to Acquire BioMed Realty for about $8 Billion, Believes in Long-Term Potential of Sector
The Blackstone Group will be acquiring BioMed Realty Trust, Inc. for $23.75 per share in an all-cash transaction that is valued at $8 billion, according to a press release issued by BioMed Realty. Blackstone believes in the long-term potential of the realty business sector that caters to tenants of life sciences industry.
Amazon Launches Handmade at Amazon, Provides Customers, Artisans Store for Handcrafted Items
Amazon.com announced in a press release that it has launched Handmade at Amazon, a new store that features genuinely handmade items that are crafted and sold directly by artisans. The new store provides customers with a store to buy genuinely handcrafted items and for artisans to feature them.
Southwest Launches 'Transfarency Campaign', Highlights Airlines Lack of Unexpected Fees to Passengers
Southwest Airlines is launching its new advertising campaign that will focus on the airlines low fare philosophy and its lack of unexpected bag fees, change fees, or any hidden fees, according to a press release issued by the airline. The new ad campaign will be called “Transfarency.”
Marissa Webb Stepping Down as Creative Director of Banana Republic, Sales Continue to Slide
Marissa Webb, the executive vice president and creative director of Banana Republic, is stepping down from her post after just 18 months in the job, according to a report from The New York Times. The sales of Banana Republic continue to drop, showing that Webb was unable to bring about a sales rebound.
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.
Skyworks to Buy PMC-Sierra for $2 Billion, Expands Product Portfolio, Customer Base, End Market Applications
Skyworks Solutions, Inc., an innovator of high performance analog semiconductors connecting people, places and things has announced in a press release that they will be acquiring PMC-Sierra, Inc. for $10.50 per share, or approximately $2 billion in cash. The acquisition will expand Skyworks’ product portfolio, customer base, and end market application.
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