Business News - part 5

Medtronic Buys Irish Medical Supply Company Covidien For $43 Billion

Medtronic Buys Irish Medical Supply Company Covidien For $43 Billion

BUSINESS

  • 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.

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Starbucks to Offer Smartphone Recharging Stations in U.S. Cafes

Starbucks to Offer Smartphone Recharging Stations in U.S. Cafes

BUSINESS

  • 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.

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Google Buys Satellite Manufacturer Skybox for $500 Million

Google Buys Satellite Manufacturer Skybox for $500 Million

BUSINESS

  • 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.

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Mideast Airline Cancels $16 Billion Airbus A380 Order

Mideast Airline Cancels $16 Billion Airbus A380 Order

BUSINESS

  • 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.

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Tyson Wins $7.8 Billion Bid for Hillshire Foods

Tyson Wins $7.8 Billion Bid for Hillshire Foods

BUSINESS

  • 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.

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Social Network LinkedIn Adds Features for Premium Customers

Social Network LinkedIn Adds Features for Premium Customers

BUSINESS

  • 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.

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Retailers Taking Advantage of Amazon’s Dispute with Publisher

Retailers Taking Advantage of Amazon’s Dispute with Publisher

BUSINESS

  • 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.

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U.S. Regulators Investigate Jeeps Recalled for Airbag Safety

U.S. Regulators Investigate Jeeps Recalled for Airbag Safety

BUSINESS

  • 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.

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Consumer Goods Giant Unilever Sells Ragu Brand For $2 Billion

Consumer Goods Giant Unilever Sells Ragu Brand For $2 Billion

BUSINESS

  • 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.

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Telecom Giant AT&T To Buy DirecTV For $48 Billion

Telecom Giant AT&T To Buy DirecTV For $48 Billion

BUSINESS

  • 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.

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