Jean-Claude Arnobit
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GE to Cut 262 more Jobs at its Lufkin Oil Unit, Plunge in Global Oil Prices to Blame
General Electric Co., has announced that it will be cutting 262 more jobs at its Lukin oil unit in Texas, as it struggles with the continued plunge in global oil prices, according to a report from Reuters.
Belk Agrees to be 100% Purchased by Sycamore for about $3 Billion, Tim Belk to Remain CEO
Belk, Inc., has announced that it will be 100 percent owned by Sycamore Partners for a transaction that is valued at approximately $3 billion, according to a press release issued by Belk.
Philadeplphia Media Network Names New Publisher and CEO, Maximize Revenue While Maintaining Journalistic Mission
The Philadelphia Media Network LLC, parent company of the Philadelphia Inquirer, Philadelphia Daily News, and Philly.com has named Terry Egger as its new publisher and CEO last Monday, according to a report from Philly.com.
Chipotle to Have its First National Career Day, Plans to Hire 4,000 New Workers
Chipotle Mexican Grill has announced that it will be having its first-ever National Career Day on September 9, 2015, according to a press release issued by Chipotle.
Netflix Partners with Softbank, for Japan Launch of TV Streaming Service
Netflix, Inc. has announced that it has partnered with SoftBank Corp., Japan’s leading mobile provider, to exclusively offer a fully integrated Netflix experience, including billing, according to a press release issued by Netflix.
Southern Co. to Buy AGL for $12 Billion, Create 2nd Largest Utility Company in the U.S.
Southern Company, the premier energy company will be acquiring AGL Resources for approximately $12 billion, including debt, according to a press release issued by AGL.
US Airways Ceremonial Flight Won't be Landing in Pittsburgh, City Not Part of its Current Flight Hub
US Airways will be conducting its ceremonial final flight on October 16, 2015, but it won’t be landing on Pittsburgh, the city that gave it its first start, according to a report from the Pittsburgh Post-Gazette.
BT Accuses Verizon and AT&T of Hurting Rivals, Calls for Tough New Rules
An executive of BT Group Plc calls for tougher new rules regarding network prices that would allow telecom companies to compete in the U.S. market, accusing Verizon and AT&T of abusing their landline monopolies to hurt competitors, according to a report from the Financial Times.
Ralph Lauren Launches PoloTech Smartshirt, Offers Biometric Technology and Adaptive Workout App
Ralph Lauren Corporation, a global leader in the design, marketing and distribution of premium lifestyle products announced last week in a press release that the company’s PoloTech smartshirt will be available in the market on Aug. 27, 2015.
Boeing on Track to Achieve Production of 737 Max, Despite Reports of Delays from Boeing's Supplier
A company spokesman said that Boeing Co. is still on track to achieve the company’s target production of its 737 Max jetliner, according to a report from Reuters.
Peltz and Frank of Trian Named to Sysco's Board, Assist in Enhancing Company's Value
Sysco Corporation has added Nelson Peltz, CEO and founding partner of Trian Fund Management LP, and Josh Frank, a partner in Trian, to the company’s board of directors, in a move that can help increase the company’s value, according to a press release issued by Sysco.
Toyota to Buy Millions of Airbag Inflators from Nippon Kayaku, Reduce Risk of Potential Lethal Inflators from Takata
Toyota Motor Corp. will be buying millions of air-bag inflators from Nippon Kayaku Corp., in an attempt to reduce the risk from potentially lethal airbag inflators from Takata Corp., people familiar with the matter told Reuters.
American Airlines to Pull Out of Israel Due to Unprofitable Flight, Philadelphia Mayor Asks the Airline to Reevaluate Decision
American Airlines, Inc. has announced that the company will be ending its lone flight route between the U.S. and Israel early next year, according to a report from Bloomberg.
Salesforce Reported Better-Than-Expected Second-Quarter Revenue and Profit, Raises Full-Year Forecast
Salesforce.com, Inc. has reported a second-quarter revenue of $1.63 billion, 24 percent increase from the same period last year and a second-quarter adjusted earnings per share of $0.19, according to a press release issued by Salesforce.
Twitter Renames Twitter Publisher Network to Twitter Audience Platform, Adds Tweet Engagement and Video Views
Twitter, Inc. has just renamed the Twitter Publisher Network, a way to help advertisers to connect to audiences in and out of Twitter, to the Twitter Audience Platform, and added two new features for advertisers to take advantage of, according to a blog post from Twitter.
Uniqlo Offers Four-Day Workweek, to Attract and Retain Talent
Uniqlo’s parent company, Fast Retailing, will be offering a four-day workweek to 10,000 employees of Uniqlo’s Japan location starting this October, according to a report from Bloomberg.
Glaxo is Selling its Rights to its Autoimmune Treating Drug to Novartis for $1 Billion, Divests its Remaining Rights in the Drug
GlaxoSmithKline Plc has just announced that it will be selling its rights in ofatumumab, a drug that treats autoimmune disease, including multiple sclerosis, to Novartis AG for more than $1.03 billion, according to a press release issued by Glaxo.
Stage Stores Closes 90 Locations as Part of its Strategic Evaluation, Following Disappointing Second Quarter Earnings
Stage Stores, Inc. have reported that it plans to close down approximately 90 stores that are underperforming as part of its strategic evaluation of its real estate portfolio, according to a press release issued by Stage Stores.
Costco Sued, Accused of Selling Shrimp Produced from Slave Labor in Thailand
Costco Wholesale Corp. was being sued for selling shrimps that have been bought in Thailand, where human trafficking and slave labor is widespread, according to a report from Bloomberg.
Oracle Buys Maxymiser, Boosts its Oracle Marketing Cloud
The Oracle Corporation has just announced that it has signed an agreement to acquire Maxymiser, a leading provider of cloud-based software, according to Oracle’s press release that is published in Market Watch.
Coca-Cola to be More Transparent on Science and Research Investment, Shifts Focus on Well-Being
Muhtar Kent, chairman and CEO of Coca-Cola Company said, in an editorial published in The Wall Street Journal, that the company will be more transparent with its science and research investment.
The New York Daily News is No Longer For Sale, Owner Believes in the Potential of the Company
The New York Daily News is now off the market, following the announcement of the company’s Chairman and Publisher Mortimer B. Zuckerman to all of his staff in an emailed statement, according to a report from the Daily News.
Promontory to Pay $15 Million to New York Bank Reglator, Settlement for Ethics Breach
Promontory Financial Group LLC, a consulting firm, has reached an agreement with the New York Department of Financial Services regarding the firm’s consulting work for Standard Chartered Bank between 2009 and 2011, according to a press release issued by the NYDFS.
Carlsberg Reports Decline in Second Quarter Operating Proft, New CEO Revises Earnings Expectations
Carlsberg Group’s has reported that their operating profit in the second quarter has declined 13 percent, due to a decline in Eastern and Western Europe, according to a press release issued by Carlsberg.
Airbnb Seeks to Expand in China, Partners with Two Chinese Companies
Airbnb has announced in their blog that they will be expanding in China with the help of two strategic partners, China Broadband Capital and Sequoia Capital China.
Target to Pay VISA Card Issuers about $67 Million, Settle Data Breach
Target Corp. has struck an agreement with Visa, Inc. to pay its card issuers about $67 million in costs incurred from a data breach scandal in 2013, according to a report from The Wall Street Journal.
Lowe's Sales Increases in Second Quarter, Backs Full-Year Forecast
Lowe’s Companies, Inc. have reported that their sales for the second quarter have increased to $17.3 billion from $16.6 billion of the same quarter in 2014, according to a press release issued by Lowe’s.
Rob Mee to Replace Paul Maritz as CEO of Pivotal, Maritz to Remain as Executive Chairman
Pivotal Software’s board of directors has appointed Rob Mee, who recently served as the company’s executive vice president of products and research development, to be the company’s new CEO, replacing Paul Maritz, according to a press release issued by the company.
Blue Bell Announces Ice Cream Return in Select Markets Following Listeria Outbreak
Blue Bell Creameries have announced that it will begin distributing ice cream to select market starting on August 31, 2015, according to a press release by Blue Bell.
Walmart Miss Second Quarter Earnings Estimate, Cuts Annual Profit Forecast
Wal-Mart Stores, Inc. has announced that its second-quarter diluted earnings from its continuing operations was at $1.08 per share, according to a press release issued by Walmart.
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