Jean-Claude Arnobit
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Amazon.com Expands Paid Leave to New Parents, Enhances Benefits to Attract and Retain Talent
Amazon.com Inc. has expanded its parental leave to new parents with new fathers now getting paid parental leave and new mothers will be getting an extended paid maternity leave, according to a report from Bloomberg. The online retailer is enhancing the benefits it offers as a way to attract and retain talent.
Activision Blizzard to Acquire Maker of Candy Crush for $5.9 Billion, Combined Company Will be a Leader in Interactive Entertainment
Activision Blizzard, Inc. has announced in a press release that it will be acquiring King Digital Entertainment Plc, the maker of the leading mobile game “Candy Crush Saga” for $5.9 billion. The acquisition will position Activision Blizzard to be a global leader in interactive entertainment across mobile, console and PC platforms.
TreeHouse to Acquire ConAgra's Private Brands Business for $2.7 Billion, Creates Country's Largest Private Label Food and Beverage Manufacturer
TreeHouse Foods Inc. has announced in a press release that it will be acquiring the private brands operations of ConAgra Foods Inc. for $2.7 billion. The transaction will create the largest private label food and beverage manufacturer in the country.
The New York Times Will Name New Publisher Within 2 Years, New Publisher Will Still Come from Sulzberger Family
Arthur O. Sulzberger Jr., the chairman and publisher of The New York Times has announced during his annual “State of the Times” address that controlling Ochs-Sulzberger clan has begun the selection process for his successor as publisher.
H-E-B Announces New Employee Ownership Plan, Employees to Get Ownership Stake of the Company
H-E-B Grocery Company LP has just announced in a press release that they are having a new employee ownership plan. Under the plan, 55,000 employees are eligible to receive a portion of stock in the company.
George Soros's Firm Pulls Out Nearly $500 Million Investment With Bill Gross Due to Poor Returns
Soros Fund Management LLC, a firm run by George Soros, has pulled nearly $500 million investment from an account managed by Bill Gross at Janus Capital Group, Inc., people familiar with the matter told The Wall Street Journal. Soros has pulled his entire investment from the account due to poor returns.
EPA Issues 2nd Notice of Violation to Volkswagen, Finds Cheating Software on Audi and Porsche as Well
The Environmental Protection Agency (EPA) has announced in a press release that they are issuing a second notice of violation of the Clean Air Act to Volkswagen AG, Audi AG, Volkswagen Group of America, Inc., Porsche AG and Porsche Cars North America. The EPA said that they have found that Volkswagen allegedly installed cheating software in certain Volkswagen, Audi and Porsche light duty diesel vehicles equipped with 3.0-liter engines for the model year 2014 through 2016.
Sprint to Slash Costs by $2.5 Billion, Will Do it Through Job Cuts and Other Cost Controls
Sprint Corp. is planning to cut as much as $2.5 billion in its fiscal 2016 expenses, according to a report from Reuters. The company said that the cut in expense will come from layoffs and a wide array of cost controls.
Commerzbank Chairman to Step Down on Oct 2016, Declined to Extend Contract
Commerzbank AG has announced in a press release that Martin Blessing, the chairman of the company’s Board of Managing Directors, will be stepping down from his post at the end of his contract on October 2016. He has declined the Supervisory Board’s offer to extend his contract beyond October 2016.
Airbnb Fighting Critical Battle in San Francisco, Spent more than $8 Million to Campaign Against Inititative
Airbnb Inc. is fighting a battle in its own backyard as it campaign against San Francisco’s Proposition F, an initiative that would limit the company’s short-term rentals, according to a report from Reuters. Airbnb has spent more than $8 million and hired a top political operative to campaign against the proposition.
GM Workers Voting on Labor Deal Between UAW and GM, Deal Gets Mixed Results
Workers at General Motors Company (GM) are voting to ratify a tentative labor agreement that the United Auto Workers union (UAW) reached with GM last week, according to a report from The Buffalo News. The tentative agreement has already gotten mixed results from GM workers, as workers from one plant rejected the deal and workers from another plant approved it.
Amazon to Shutdown Amazon Local Later This Year, Will Stop Selling Daily Deals
Amazon.com will be shutting down its Amazon Local website and Amazon Local app on December 18, 2015, according to Amazon Local’s help page. The online retailer will stop selling its daily deals on the said date.
HP to Split into Two Public Companies, As its CEO Seeks to Reinvent the Company
Hewlett-Packard Company has announced in a press release that it plans to separate the company into two new publicly traded Fortune 50 companies. The split is part of Meg Whiteman’s, the president, chairman and CEO of HP, plan to reinvent the company.
Peet's Coffee to Acquire a Majority Stake in Intelligentsia Coffee, Expands their Offering of Super-Premium Coffee
Peet’s Coffee & Tea has announced in a press release that they are acquiring a majority stake in Intelligentsia Coffee. The acquisition gives Peet’s Coffee access to Intelligentsia’s third wave coffee movement and expand its offering of super-premium coffee.
EPA May Ban the Use of Common Pesticides on Fruits and Vegetables, Public Comments on the Proposal are Welcome with the Final Rule to Come Out on December 2016
The Environmental Protection Agency (EPA) may ban the use of a common pesticide on citrus fruits, almonds and other crops, according to a report from WIVB News. The agency is welcoming public comments on the proposal for at least two months before it come out with a final rule on December 2016.
United Continental to Stop its Outsourcing of Airport Jobs, Addresses Employee's Concerns with Regards to Job Security
United Continental Holdings, Inc. will be stopping its practice of outsourcing jobs at 39 U.S. airports until the end of 2016, according to a report from The Wall Street Journal. The airline said that the move is a response to employees’ concerns regarding job security.
U.S. Government Rejected Antitrust Proposal from Electrolux and GE, Will Challenge Merger in Court
The U.S. government has rejected Electrolux AG and General Electric Co.’s (GE) settlement proposal, according to a report from The Wall Street Journal. The U.S. Justice Department plans to take its concerns to trial on November 9, 2015.
Pontiac Silverdome to be Demolished, Owners Believe Site to be More Marketable Without Stadium
The owners of the Pontiac Silverdome, the former home of the Detroit Lions, have decided to demolish 40-year old stadium next year, according to a report from the Detroit Free Press. The private owners, the Triple Investment Group, shifted their strategy from selling the property with the Silverdome in it to believing that the site would be more marketable without the 80,000-seat stadium.
The President and CEO of 3D Systems Steps Down, Depature Comes After Major Decline in Company's Share Price
3D Systems Corporation has just announced in a press release that Abraham Reichental has resigned as president, CEO and director of the company, effective at the close of business on October 28, 2015. His departure follows a major decline in the share prices of 3D Systems, a high-profile 3D printing company.
Target Offers Free Shipping and Return in the U.S. for Holiday Season, Strikes Deal with Borderfree to Offer International Shopping and Shipping
Target Corporation has announced in a press release that it will be bringing back its free shipping and return for the holiday season. The company also announced that it has partnered with Borderfree Inc. to offer international shopping and shipping to more than 200 countries and territories.
Thrift Store Caught Making Money Selling Donated Clothes, Will Pay $700K as Part of Settlement
The office of New York Attorney General Eric Shneiderman announced in a press release that it has reached $700,000 settlement agreement with Thrift Land USA of Yonkers, Inc. Thrift Land, a for-profit company, was caught making a lot of money from selling clothes that were supposedly donated for charity.
Pfizer and Allergan in Merger Talks, Could be One of the Largest Deals in Industry's History
Pfizer, Inc. and Allergan PLC are in talks about a possible merger of the two companies, people familiar with the matter told The Wall Street Journal. The deal, if it pushes through, would be one of the largest deals in the history of the healthcare industry.
Barclays Officially Appoints Jes Staley as Group CEO, Will Pay Him up to $12.6 Million a Year
Barclays PLC and Barclays Bank PLC have announced in a press release that it has appointed James E. Staley as the Group CEO of the company, effective December 1, 2015. Staley will be receiving a pay of up to £8.24 million, or $12.6 million a year.
Baxter Appoints Jose Almeida as Chairman and CEO, Will Succeed Robert Parkinson, Jr.
Baxter International has announced in a press release that it has appointed Jose Almeida as its new chairman and CEO effective on January 1, 2016. He will be succeeding Robert L. Parkinson, Jr. who will retire from his role also on January 1, 2016.
U.S. Bans Putting E-Cigarettes in Checked-in Luggage, Use and Charging of it on Planes, Avoid Safety Risks
The U.S. Department of Transportation Pipeline and Hazardous Materials Safety Administration (PHMSA) has issued an interim final rule that prohibits passengers and crewmembers from putting battery-powered portable electronic smoking devices in their checked-in luggage, according to a Transportation Department press release. The PHMSA has also prohibited the use and charging of the e-cigarette while on board the plane, to avoid safety risks.
IBM Close to Acquiring Digital, Data Assets of Weather Co., Deal Would be Valued at More Than $2 Billion
International Business Machines Corp. (IBM) is close to acquiring Weather Co.’s digital and data assets, people familiar with the matter told The Wall Street Journal. One of the people said that the deal would be valued at more than $2 billion.
Amazon Facing Class-Action Lawsuit from Ex-Delivery Drivers, Dispute over Contract Classification
Amazon.com. Inc. is facing a class-action lawsuit against the ex-delivery drivers of its Amazon Prime Now service, according to a press release issued by Leonard Carder LLP and published in PR Newswire. The lawsuit alleges that Amazon.com has wrongfully paid its delivery drivers as independent contractors even though they are treated as employees.
Fiat Chrysler Recalls 180,000 SUVs and Pickups, Faulty Rear Axle and Risk of Fire are Cited as Reasons for Recall
Fiat Chrysler Automobiles NV is recalling about 180,000 SUVs and pickup trucks in two separate recalls, according to a report from The Detroit News. The recalls are due to a risk of fire for the SUVs and potentially faulty rear axle for the pickup trucks.
U.S. Air Force Picks Northrop Grumman for Long Range Strike Bomber Contract, Tops Lockheed-Boeing for $80 Billion Contract
The U.S. Air Force (USAF) has given Northrop Grumman Corporation the contract to deliver the nation’s new Long-Range Strike Bomber, according to a press release issued by Northrop Grumman. The company has beaten out a team of Lockheed Martin and Boeing for the $80 billion contract.
Walgreens to Acquire Rite Aid for about $17.2 Billion in Cash, Expands Company's Role of Distributing Medications in U.S.
Walgreens Boots Alliance, Inc. has announced in a press release that it will be acquiring Rite Aid Corporation in an all cash transaction that is valued at approximately $17.2 billion, including acquired net debt. The acquisition expands Walgreens’ role of delivering high-quality retail pharmacy of choice for consumers in the U.S.
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