Business News

Merck Buys Sigma-Aldrich for $17 Billion

Merck Buys Sigma-Aldrich for $17 Billion

BUSINESS

  • Purchase increases company’s portfolio in lab supplies
  • Pharmaceutical business to remain medium enterprise
  • Merck has had better luck with chemical businesses

German drug and chemical manufacturer Merck KGaA is purchasing American lab supply manufacturer Sigma-Aldrich Corp. for $17 billion, boosting Merck’s chemical portfolio and reducing its dependences on pharmaceuticals.

Chemicals and services are a steadier source of income than pharmaceuticals. In recent years, Merck has had a series of drug failures and will keep its pharmaceuticals business, Serono, medium sized.

Read more »

Bayer Plans to Separate Plastics Business

Bayer Plans to Separate Plastics Business

BUSINESS

  • Plastics division had been underperforming
  • Bayer to focus on life sciences
  • Separation to benefit both businesses

Germany’s Bayer AG plans to either spin off its plastics business, Bayer MaterialScience, or list it as an initial public offering with shares sold against cash within the next 12 to 18 months. It gives the business funds needed for research and development.

The MaterialScience division has not been profitable with profit margins less than half the company average. Rising material costs have decreased profits.

Read more »

California Issues Permits for Self Driving Cars

California Issues Permits for Self Driving Cars

BUSINESS

  • Three other states have issued permits
  • Self operating vehicles use sensor technology
  • California put new regulations in place before issuing permits

California has become the fourth state to issue permits for testing self driving vehicles on state roads.

The California Department of Motor Vehicles permit is $150 for 10 vehicles and 20 drivers. An additional 10 drivers can be added for $50.

Read more »

United Airlines Offers Flight Attendants $100,000 Buyout

United Airlines Offers Flight Attendants $100,000 Buyout

BUSINESS

  • Airline hopes 2,100 accept offer
  • Buyout helps prevent future layoffs
  • United only airline to experience quarterly loss

American carrier United Airlines, a unit of United Continental Holdings Inc.,is offering flight attendants a $100,000 lump-sum buyout to prevent future layoffs.

The airline employees 23,000 flight attendants and hopes 2,100 accept the offer.

Read more »

Apple iPhone 6 Sets Record for Presales

Apple iPhone 6 Sets Record for Presales

BUSINESS

  • Sales 2 million more than iPhone 5
  • Model not available in all nations Sept. 19
  • Demand is usually greater than supply for Apple Products

Presales for the iPhone 6 and iPhone 6 Plus reached 4 million during the first 24 hours, according to Apple Inc., breaking the record set by the iPhone 5 which sold 2 million in 24 hours.

If sales kept pace all weekend, up to 10 million iPhone 6s were sold. Analysts say the volume of orders reflects customers’ demand for larger screens.

Read more »

Lululemon Reports Better than Expected Second Quarter

Lululemon Reports Better than Expected Second Quarter

BUSINESS

  • Online sales helped maintain sales levels
  • Company on track to open new stores
  • Dispute with company founder resolved

Canadian yoga-wear manufacturerLululemon Athletica Inc. reported better than expected earnings for the quarter ending Aug. 3.

Profit fell to $48.7 million while revenue grew 13% to $390.7 million. Sales remained stagnant. Same stores sales decreased 5% while Internet sales increased 30%.

Read more »

Apple Pay Ready to Roll Out in U.S.

Apple Pay Ready to Roll Out in U.S.

BUSINESS

  • Apple to receive cut of credit card fees
  • Less than 20% of Americans use mobile payment
  • Rest of world will need to wait for Apple Pay

Apple Inc.’s new Apple Pay mobile payment system will debut in October in the United States. It works by allowing users to pay for purchases with a tap of their iPhone.

The service is similar to those offered by PayPal, Amazon, Google and Facebook, and it is exclusive to the iPhone 6 and iPhone 6 Plus.

Read more »

FTC Suing Pharmaceutical Companies over AndroGel

FTC Suing Pharmaceutical Companies over AndroGel

BUSINESS

  • Companies accused of preventing generic version of drug
  • Generic company compensated with cholesterol drug
  • FTC trying to stop pay-to-delay deals

The U.S. Federal Trade Commission has filed a federal lawsuit accusing three pharmaceutical companies with preventing a generic version of testosterone replacement drug AndroGel in reaching market.

According to the lawsuit, AbbVie Inc. and its partner Besins Healthcare Inc. filed baseless patent infringement lawsuits against generic drug companies, Teva Pharmaceuticals and Perrigo Company Plc, in order to delay a generic version of AndroGel. AbbVie then entered into a pay-for-delay settlement agreement with Teva, the world’s largest generic drug company, which was given the rights to AbbVie’s cholesterol drug, Tricor.

Read more »

Electrolux Purchases GE Appliances for $3.3 Billion

Electrolux Purchases GE Appliances for $3.3 Billion

BUSINESS

  • Sales moves GE closer to its business goals
  • Electrolux to better compete against Whirlpool
  • Electrolux to make future purchases

Swedish appliance company AB Electrolux has purchased GE Appliances for $3.3 billion, moving GE closer to its goal of streamlining and focusing solely on its core infrastructure business.

Electrolux is the parent company of the brands Electrolux, Hotpoint, Eureka and Frigidaire.

Read more »

Net Neutrality Group, Major Websites to Take Part in Day of Action

Net Neutrality Group, Major Websites to Take Part in Day of Action

BUSINESS

  • Sept. 10 to be slow Internet day
  • Net neutrality to be decided soon by Federal Communications Commission
  • Dozens of activist groups protesting in Washington D.C.

Several major websites and net neutrality activist groups are partnering together for a day of action Sept. 10 over what could potentially become a slower, divided Internet.

Websites taking part include WordPress, Mozilla, iFixIt, Kickstarter, Vimeo, Reddit, Etsy, Tumblr and Foursquare, according to Internet advocacy group Fight for the Future. Visitors to those sites will be asked to make their opinion known to policy makers.

Read more »

Share

Follow

Browse our categories

Browse our archives

ReportLinker is an award-winning market research solution that finds, filters and organizes the latest industry data so you get all the market research you need - quickly, in one place.