Back to Topic List  
 Previous    Next 
Company News

 Teva Pharmaceutical to lay off 14,000 globally; Effect on Gurnee distribution center workers not yet clear
Chicago Tribune, December 15, 2017 Friday

 Israel-based Teva Pharmaceutical Industries -- which has nearly 100 employees in Illinois -- announced plans Thursday to cut 14,000 jobs globally. It was not immediately clear whether the Illinois employees, who work at a distribution center in Gurnee, will face layoffs. In an email, Teva spokeswoman Kaelan Hollon said specific layoff details had not yet been announced.
 Health Care Companies and Banks Drive Markets Lower
The New York Times, December 15, 2017 Friday

 Health care companies and banks drove stocks lower in the United States on Thursday, pulling major indexes below their recent highs. The afternoon slide, which erased gains from earlier in the day, came on news that some Republican senators' support for the G.O.P.'s proposed tax overhaul bill was faltering.   Small-company stocks, which would be among the biggest beneficiaries of the bill's reduction of corporate income tax rates, declined more than the rest of the market.
 Disney Deal Should Erase the Murdoch Discount
The New York Times, December 15, 2017 Friday

 The Walt Disney Company is expanding its Magic Kingdom to include the Murdoch empire. It is paying $52.4 billion in stock to own a slimmed-down 21st Century Fox, including the movie studio and a 39 percent stake in Sky. It's a historic deal for Fox's Rupert Murdoch -- and it should erase the discount afflicting the media mogul's long-suffering shareholders.
 United Way surpasses goal, nets $49 million
San Antonio Express News, December 14, 2017 Thursday

 United Way of San Antonio and Bexar County's community campaign exceeded its fundraising goal by more than $1.2 million this year, bringing in nearly $49 million. The nonprofit revealed the news early Wednesday at a community breakfast at Pearl Stable, which several hundred people attended.
 YRC Worldwide CEO Welch to retire
Journal of Commerce, December 14, 2017 Thursday 11:20 PM GMT James Welch, the CEO who pulled YRC Worldwide back from the abyss, focused the company squarely on hauling palletized, less-than-truckload freight, and put it back on the road toward profitability after deep losses, will retire at the end of July, the company said Thursday. "Freight is not a dirty word," Welch told YRC Worldwide's executive team and employees we he arrived as CEO in...
 Target ramps up delivery with $550M buy of Shipt
USA TODAY, December 14, 2017 Thursday

 In the latest salvo in the retail delivery wars, Target said Wednesday that it will buy online delivery company Shipt, a move that will enable most of its customers to have groceries dropped right at their front door shortly after they place an order.
 T-Mobile jumping into the pay-TV market
USA TODAY, December 14, 2017 Thursday

 LOS ANGELES - Scrappy wireless carrier T-Mobile is looking to take on the pay-TV market. No. 3 carrier T-Mobile said it will acquire Layer3 TV, which has launched an Internet-based pay-TV service in a handful of markets and plans to go national in 2018.
 Panasonic- Toyota deal poses threat to Tesla; Partnership will explore next-gen battery technology
Detroit Free Press (Michigan), December 14, 2017 Thursday

 Toyota reached a deal to explore a new battery partnership with Panasonic in a move that threatens to encroach on Tesla's territory, heightening the ongoing rivalry between the two automakers.
 MARKET ROUNDUP; Stock indexes end day mostly higher
Los Angeles Times, December 14, 2017 Thursday

 The major U.S. stock indexes finished mostly higher Wednesday, with small companies notching big gains as lawmakers in the House and Senate reached a deal on a tax-overhaul package.
 BUSINESS BEAT; Wal-Mart gives workers an app for early pay
Los Angeles Times, December 14, 2017 Thursday

 Wal-Mart is providing workers with an app to help them budget their money and get paid before payday. The retailer said Wednesday that it teamed up with financial technology start-ups Even and PayActiv to provide an app to 1.4 million Wal-Mart workers.
 3M expects growth to continue in 2018
Star Tribune (Minneapolis, MN), December 13, 2017 Wednesday

 3M Co. is looking ahead to a year of growth in 2018. The Maplewood-based manufacturing giant expects the much-improved results of this year to continue into 2018 with significant input from its two largest markets: the U.S. and China, company officials told Wall Street analysts during 3M's 2018 Outlook meeting on Tuesday. CEO Inge Thulin said the $30 billion maker of items from Scotch tape and Post-it notes to industrial adhesives and roofing tile granules, will increase total sales by 5 to 7...
 GM, Ford join China sales experiment; Drivers get 3-day test-drive window in Alibaba offer
Detroit Free Press (Michigan), December 13, 2017 Wednesday

 New Ford and GM vehicles will be part of a massive consumer experiment in China designed to let auto shoppers take vehicles for a three-day test-drive and decide whether to buy, online retailer Alibaba announced late Tuesday.
 Blue Apron's IPO not well done; Meal-kit company wasn't ready to go public, analysts say
Chicago Tribune, December 13, 2017 Wednesday

 Earlier this year, Blue Apron executives traveled the U.S. selling potential investors on the meal kit company's coming initial public offering. They talked up triple-digit growth and plans to expand the business to millions more people who like to cook but would rather not shop. Blue Apron's IPO was going to be a moment to celebrate -- validation for the mushrooming food delivery industry. Behind the scenes, however, all was not well. A new fulfillment center was months behind schedule and...
 Banks Help Push Markets Higher Ahead of Fed Meeting
The New York Times, December 13, 2017 Wednesday

 Big-name companies notched gains on Wall Street Tuesday, delivering more records for two of the major stock indexes. The Standard & Poor's 500 index and the Dow Jones industrial average finished at all-time highs for the second day this week, while a slide in technology stocks pulled the Nasdaq lower. Small-company stocks also lagged.   Banks and other financial stocks led the gainers as the Federal Reserve met to discuss interest rates. The central bank is expected to raise rates for the...
 Shazam to do more than name that tune for Apple
USA TODAY, December 12, 2017 Tuesday

 LOS ANGELES - The music app Shazam is best known for its uncanny ability to identify songs that are already playing.
 3M selling optical-fiber business to Corning
Star Tribune (Minneapolis, MN), December 12, 2017 Tuesday

 3M Co. will sell its fiber optics and copper connectivity business to Corning Inc. for $900 million, company officials announced Monday. The Maplewood-based giant said its Communications Markets Division, which caters to the telecommunications industry, generates about $400 million in annual revenue but is no longer seen as a core business.
 Indexes Keep Pushing Higher as Bitcoin Futures Surge in Market Debut
The New York Times, December 12, 2017 Tuesday

 Technology companies led stocks modestly higher on Monday, driving the market to another set of milestones. The Standard & Poor's 500-stock index and the Dow Jones industrial average finished at new highs. Both market gauges also hit record highs on Friday.   Solid gains by health care companies also helped lift the market, outweighing losses among banks and industrial stocks. Energy shares rose along with the price of crude oil.
 Broadcom Is Returning, But the Price May Be Jobs
The New York Times, December 12, 2017 Tuesday

 Last month, President Trump stood in the Oval Office under a portrait of Andrew Jackson and announced that Broadcom, a semiconductor company based in Singapore, would be moving its headquarters back to the United States. ''I want to thank you very much for choosing us,'' Mr. Trump said, boasting that Broadcom already had 7,500 workers in the United States and noting that some of those workers, from a plant in Pennsylvania, were standing behind him. ''We're looking forward to seeing that number...
 Charges Against HSBC Will Be Dropped, It Says
The New York Times, December 12, 2017 Tuesday

 HSBC said on Monday that the United States authorities were preparing to dismiss criminal charges against the bank, five years after it reached an agreement to avoid prosecution related to lapses in its money-laundering controls. In 2012, the bank, one of the world's biggest lenders, paid $1.9 billion and entered into a so-called deferred prosecution agreement as part of a settlement with state and federal authorities. The deal -- four years after the 2008 collapse of Lehman Brothers nearly...
 Amazon's hiring frenzy slows sharply; what's going on?
The Seattle Times, December 12, 2017 Tuesday

 Amazon's hiring boom is cooling off. The company, Seattle's largest employer, appears to be seeking the smallest number of new employees in the city in years after a feverish, four-year growth spurt that more than doubled its head count. Open job postings at Amazon's headquarters, which stood at more than 9,000 as recently as June, have declined sharply and steadily in the last few months. The company was seeking 3,503 workers in Seattle on Friday, the lowest since 2014 among periodic snapshots...
 MARKET ROUNDUP; Stocks end mostly up, helped by tech
Los Angeles Times, December 12, 2017 Tuesday

 Technology companies led U.S. stocks modestly higher Monday, driving the market to another set of milestones. The Standard & Poor's 500 index and Dow Jones industrial average finished at new highs. Both indexes also set record highs Friday.
 GE to cut 12,000 jobs in its power division Cost reduction
Plain Dealer (Cleveland, OH), December 8, 2017 Friday

 General Electric, the industrial conglomerate, said Thursday that it would cut 12,000 jobs in its power division worldwide, a bid to reduce costs as the company scales back the sprawling ambitions that characterized it for decades.
 Bitcoin crash among 2018 worries, bank warns
The Indianapolis Star (Indiana), December 9, 2017 Saturday

 The bull market continues rising, and the economy added a healthy 228,000 jobs last month, so what could possibly spoil the celebrations for consumers and investors in 2018?
 Retailers get off to robust holiday start
The Indianapolis Star (Indiana), December 9, 2017 Saturday

 More than 174 million Americans bought goods in stores or online from Thanksgiving to Cyber Monday, according to the National Retail Federation.
 Tyson boosts stake in meatless 'meat'
Arkansas Democrat-Gazette (Little Rock), December 9, 2017 Saturday

 Tyson Foods Inc. announced Thursday it's investing even more into what many think is the future of meat - a kind without animals. Through Tyson's venture capital fund, the company said it purchased a higher ownership stake in Beyond Meat during the plant-based-"meat" company's latest round of fundraising, which totaled $55 million at Thursday's close.

Back to Topic List
Copyright © 2017 LexisNexis, a division of Reed Elsevier Inc. All Rights Reserved.  
Terms and Conditions   Privacy Policy