Jean-Claude Arnobit
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Amazon to Expand Office Space in Detroit, Build Technology Hub, Hire New Employees
Amazon.com, Inc. is planning to expand its office space and build a technology hub in Detroit, according to a report from The Detroit News. The online retail giant will also be hiring full-time, high-tech employees to fill the position that will be opened by the new office.
Whole Foods to Reduce about 1,500 Jobs, Part of Commitment to Lower Prices, Invest in Technology Upgrades
Whole Foods Market has announced in a press release that it will be reducing approximately 1,500 jobs, representing 1.6 percent of its total workforce, over the next eight weeks.
NBCUniversal Buys 51% Stake in Universal Studios Japan for $1.5 Billion, Part of Strategy to Expand Theme Park Business
Comcast NBCUniversal has announced in a press release that they are purchasing a 51 percent ownership in Universal Studios Japan in a recapitalization transaction valued at ¥183 billion or $1.5 billion.
Shell Abandons Exploration in Offshore Alaska, High Costs, Unpredictable Federal Regulatory Enviroment in Area Cited as Reasons
Royal Dutch Shell is ceasing further its exploration activities in offshore Alaska for the foreseeable future, according to a press release issued by Shell. The company cites the high costs associated with the project and the challenging and unpredictable federal regulatory environment in offshore Alaska as the reason for the decision.
Facebook Introduces New Updates to Help Advertisers, Showcases Strength in Mobile
Facebook, Inc. has announced in a news release that it is offering new updates for businesses who want to advertise on the social network.
Mortgage Rates Decline Following Fed's Decision to Keep Interest Rates Lower, Boost Application for New Loans
The Primary Mortgage Market Survey of Freddie Mac has shown that the average fixed mortgage rates have declined following the decision of the U.S. Federal Reserve to keep, according to the press release issued by Freddie Mac.
U.S. GDP Increased by 3.9% During Second Quarter due to Consumer Spending, Construction, Backs Case for Raising Interest Rates this Year
The Bureau of Economic Analysis announced in a press release that the U.S.’s real domestic gross product (GDP), the value of the goods and services produced by the nation’s economy less the value of the goods and services used up in production, adjusted for price changes, have increased by 3.9 percent in the second quarter.
Boeing, U.S. Air Force Complete First Test of KC-46A Tanker, To Pave Way for Aerial Refueling, Milestone C Testing
The Boeing Co. and the U.S. Air Force (USAF) have successfully completed the first flight of the KC-46A Tanker aircraft, according to a press release issued by Boeing.
Possible Card Breach at Hilton Hotels, Company Investigating The Claims
A possible card breach may have occurred at several gift shops and restaurants at a large number of hotels and franchises owned by Hilton Worldwide Holdings, multiple sources in the banking industry have told Brian Krebs, a cyber-security blogger.
Regulators Shut Down Health Republic, Company likely to become Financially Insolvent
The New York State Department of Financial Services (NYDFS), the Centers for Medicare and Medicaid Services (CMS), and the New York State of Health (NYSOH) health plan marketplace have announced in a press release issued by the NYDFS that they are directing the Health Republic Insurance of New York co-op to cease writing new health insurance policies and to wind down after the expiration of its existing policies.
Sanderson Farms Recalls More than 550,000 Pounds of Chicken, Contains Foreign Material
Sanderson Farms, Inc. is voluntarily recalling approximately 551,090 pounds of chicken products that is produced in its plant in Hazlehurst, Mississippi, according to their own press release.
EU Begins In-Depth Investigation Regarding Staples Takeover of Office Depot, Staples to Work Closely with EU
The European Commission has announced in a press release that they had begun the in-depth investigation of Staples, Inc.’s acquisition of Office Depot under the EU Merger Regulation.
Blackberry Confirms New Android-Powered Smartphone, Also Anticipates Modest Growth in Revenue for Remaining Fiscal 2016
Blackberry Limited, a global leader in mobile communications, has confirmed in a press release that the company will be launching an Android device called Priv.
Volkswagen Appoints New CEO, Will Tackle the Emission Crisis Plaguing the Company
Volkswagen AG has appointed Matthias Mueller, the chairman of the board of Porsche AG, as the new CEO of the company following the resignation of Martin Winterkorn last Wednesday, according to a press release issued by Volkswagen.
Haggen Asks Bankruptcy Court for Approval to Close Down 100 More Stores, Part of Plan to Exit Southwest Market
Haggen Food & Pharmacy has asked the Bankruptcy Court for approval to conduct a Store Closing Sales on 100 stores as the company plans to close all of it within 60 days, according to a press release issued by Haggen.
Walmart Seeks Price Cut from Suppliers' Goods Produced in China, Looking to Take Advantage of Yuan Devaluation
Wal-Mart Stores, Inc. is seeking for price cuts from suppliers who produce goods in China, people familiar with the matter told Reuters.
Coca-Cola Announces Creation of National Product Supply System, Will Divest 9 Production Facilities As Well
The Coca-Cola Company announced in a press release the formation of a new National Product Supply System in the U.S. to facilitate optimal operations of the Coca-Cola bottlers in the country.
Hudson City Reaches Settlement Agreement with DOJ and CFPB for Redlining Case
Hudson City Bancorp, Inc. has reached a settlement agreement with the U.S. Department of Justice (DOJ) and the Consumer Financial Protection Bureau (CFPB), according to a press release issued by Hudson City.
Caterpillar to Cut More Than 10,000 Jobs, Part of Restructuring and Cost Reduction Plans
Caterpillar, Inc. has announced in a press release a possible workforce reduction of 10,000 people as part of its plan to lower operating costs by about $1.5 billion annually.
AB InBev to Acquire Golden Road Brewing, Enhances Craft Portfolio
Anheuser-Busch InBev (AB InBev) has announced in a press release that it will be acquiring Golden Road Brewing, a Los Angeles-based craft brewer.
Uber Launches Carpooling Service uberCOMMUTE in China, First Time to Launch Outside the U.S.
Uber has announced in a news release that it has launched its carpooling service uberCOMMUTE in Chengdu, China.
JC Penney Promotes John Tighe to Chief Merchant, Liz Sweney to Retire
JC Penney Company, Inc. has announced in a press release that they are promoting John Tighe, a senior vice president and senior general manager of the company’s men’s division, to executive vice president and chief merchant effective October 1.
BBA Aviation to Acquire Landmark Aviation for $2.1 Billion, Enhance BBA's Own FBO Network, Signature
BBA Aviation Plc, a leading global aviation support and aftermarket services provider, announced in a press release that it will be acquiring Landmark Aviation for about $2.1 billion in cash from The Carlyle Group.
Boeing Signs Deal with Group of Chinese Companies to Sell 300 Aircraft, Build Aircraft Completion Center in China
A group of Chinese companies have signed an agreement to purchase 300 aircraft from Boeing Company, according to a report from the official Xinhua News Agency.
Coca-Cola Spent More than $118 Million on Health Research over 5 Years, Support Solutions for Public Health Issues
Sandy Douglass, the president of Coca-Cola North America said in a transparency statement that the company had spent $118.6 million in funding research for health-related issues.
Brian Moynihan to Keep Chairman and CEO Title, 63% of Bank of America Shareholders Approve
The Bank of America (BofA) has announced in a press release that Brian Moynihan, the company’s chairman and CEO, will keep both of his posts after shareholders approved the proposal to ratify the 2014 amendments to the company’s bylaws that permitted the board of directors to determine its leadership structure.
Goldman CEO Lloyd Blankfein has Lymphoma, Expects to Work Substantially as Normal
Lloyd Blankfein, the CEO of Goldman Sachs Group, Inc. said in a statement that he is suffering from lymphoma, a form of blood cancer.
Quirky Files for Chapter 11 Bankruptcy, Facilitate Sale of All its Assets
Quirky, Inc., a company that offers its inventors a forum for social product development and its customers an opportunity to acquire the most innovative products on the market, has announced in a blog post that it has filed a voluntary petition under Chapter 11 of the U.S. Bankruptcy Code.
Halliburton to Pay Almost $18.3 Million in Overtime Wages Following Investigation of Labor Department
The U.S. Department of Labor said in a press release that Halliburton Company will be paying nearly $18.3 million in overtime wages to 1,016 employees nationwide.
Sears Names New President of Fulfillment, Support Efforts to Enhance Members' Experience
Sears Holdings Corporation has named Girish Lakshman as the company’s new president of Fulfillment, its end-to-end order fulfillment service, according to a press release issued by Sears Holdings.
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