Business News - part 5
BUSINESS June 16, 2014 | 2:41 PM
- Purchase creates second largest medical supply company
- Medtronic open to more mergers in the future
- Move to Ireland has tax benefits
American medical supply company, Medtronic Inc. has agreed to buy Irish medical device manufacturer Covidien Plc for $42.9 billion in cash and stock.
Together the two companies will be the second largest medical supply company. Prior to the merger, Medtronic was the fourth largest supplier and Covidien was eighth.Read more »
BUSINESS June 13, 2014 | 10:49 AM
- Technology designed to make customers stay longer
- Power pads powered by Duracell
- Not all smartphones compatible
Starbucks Corp., the world’s largest coffee chain, has a plan to keep customers in the café longer. It will offer recharging stations for smartphones and tablets at its Starbucks and Teavana stores free.
The recharge option began in 2013 as a pilot program inSan Jose, CA, and Boston. Beginning this month, it will be offered nationwide beginning in San Francisco and New York City and coast to coast in 2015.Read more »
BUSINESS June 12, 2014 | 3:23 PM
- Skybox satellites prove high resolution photos
- Google to use technology for maps, Internet
- Google has invested billions in new technology
Google Inc., the world's top Internet search engine, purchased startup satellite-maker Skybox Imaging Inc. for $500 million, adding to an aerial fleet of unmanned drones and high-altitude balloons.
Google says the satellites will have an number of applications including improving the accuracy of Google Maps and disaster relief.Read more »
BUSINESS June 11, 2014 | 3:08 PM
- Emirates cancels 70 aircraft
- Cancellation also hurts engine maker Rolls-Royce
- Plane maker in New York trying to increase sales
Airliner Emirates, the largest customer of the Airbus A380, canceled a 70 aircraft order for two A380 models worth $16 billion, Airbus’s largest order cancellation. The order was placed in 2007 and the aircraft would have been delivered in 2019.
No reason was given for the cancellation.Read more »
BUSINESS June 9, 2014 | 2:30 PM
- Rival Pilgrim’s Progress withdrawals bid
- Purchase allows Tyson to enter breakfast market
- Hillshire in deal to buy Pinnacle Foods
Tyson Foods, the world’s second largest food production company, has won the bid for Hillshire Brands Co. by bidding $7.8 billion, securing itself a place in the breakfast foods market.
Poultry producer Pilgrim’s Pride Corp., owned by Brazilian meat giant JBS, had bid nearly a billion less and has withdrawn its bid.Read more »
BUSINESS June 6, 2014 | 2:29 PM
- Changes aimed at bringing in more paying customers
- Free users will see changes in coming months
- All four major social networks have similar look
LinkedIn, the world’s largest professional social networking site, is introducing a series of visual changes in the hopes of attracting job seekers and employers to its paid memberships.
The changes became available to paid customers at the beginning of the month. Some changes, such as a large header photo, will be available to free subscribers later this year. Free subscribers can apply to a waiting list if they would like to implement the change sooner.Read more »
BUSINESS June 5, 2014 | 11:11 AM
- Amazon, Barnes & Noble cut prices to attract customers
- Publisher contracts effect entire book industry
- Low prices hurt authors
Online retailer Amazon is in a contract dispute with publisher Hachette Book Group, owned by Lagardère of France, and competitors Barnes & Noble and Walmart are taking advantage of the situation by cutting their book prices in an effort to attract customers.Read more »
BUSINESS June 3, 2014 | 3:00 PM
- Reports claim repaired vehicles still exhibiting problems
- Original recall affected 919,000 vehicles in North America
- Government inves
Chrysler, a unit of Fiat Chrysler Automobiles, in under investigation by the National Highway Traffic Safety Administration that vehicles recalled in 2012 for faulty airbags may still be experiencing the same problem.
In November 2012, Chrysler recalled nearly 745,000 vehicles, model years 2002-2004 Jeep Grand Cherokee and 2002-2003 Jeep Liberty in the U.S. because a defect caused airbags to deploy with no warning and for no reason. An additional, 174,723 Jeeps were recalled outside of North America and in Canada and Mexico.Read more »
BUSINESS May 26, 2014 | 5:13 PM
- Brand sold to Japan’s Mizhan Group
- Sale part of Unilever strategy to focus on personal care
- North American processed-foods market shrinking
Anglo-Dutch consumer goods giant Unilever has agreed to sell its Ragu pasta sauce brand to Japanese food company Mizkan Group for $2.15 billion as Unilever changes its business focus.
The deal includes the Ragu and Bertoli sauce brands, a bottling plant and a tomato processing plant.Read more »
BUSINESS May 21, 2014 | 6:26 PM
- Deal mutually beneficial
- Merged company would be second largest TV operator
- Opponents question whether deal benefits customers
AT&T has announced plans to purchase DirecTV, the No.1 U.S. satellite television provider, for $48.5 billion, giving the company areas of growth beyond its cellular business.
AT&T will pay DirecTV shareholders $28.50 per share in cash and $66.50 per share in AT&T stock. That values the total transaction at $67.1 billion.Read more »