Biz/Tech
Peet's Coffee to Acquire a Majority Stake in Intelligentsia Coffee, Expands their Offering of Super-Premium Coffee
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.
Latest News
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.
Delta Airlines to Leave Industry Trade Group, Airline Not Aligned with Group on Key Issues
Delta Air Lines Inc. announced in their own press release that it has notified Airlines for America about its plans to leave the trade group next year, saving about $5 million from the annual membership fee. The airline said that the trade group has not supported it in recent years regarding several key issues.
JPMorgan Chase Launches its own Digital Wallet Chase Pay, Provides Alternative to Apple Pay
JPMorgan Chase Bank N.A., the consumer banking arm of JPMorgan Chase & Co., announced in a press release that launch of its own digital wallet Chase Pay. The new Chase Pay, which will allow consumers to pay retailers using their smartphones, is an alternative to Apple Pay.
Diebold Announces Cardless ATM, Citigroup Testing New Technology
Diebold, Inc. has announced in a press release the introduction of Irving concept, an ATM machine that dispenses cash to the consumer without the need of an ATM card. Citigroup, Inc. is testing the new technology at its innovation lab in New York.
Duke Energy to Acquire Piedmont for about $4.9 Billion in Cash, Adds Natural Gas Platform as Growth in Power Demand Slows
Duke Energy Corp. announced in a press release that it plans to acquire Piedmont Natural Gas Co., for approximately $4.9 billion in cash. The acquisition provides Duke Energy with a growing natural gas platform as demand for electricity in the U.S. softens.
Wal-Mart Asks Permission to Test Drones for Home Delivery, Pickup, Looking to Compete Against Amazon
Wal-Mart Stores, Inc. has applied to the Federal Aviation Administration (FAA) for permission to test drones for home delivery.
Jeff Bezos Becomes 3rd Richest in the U.S., Adds $2.9 Billion to his Fortune
Jeff Bezos, the founder of Amazon.com Inc., is now the third-richest man in the U.S. with a net worth of $53.2 billion, according to a report from Bloomberg. Bezos added $2.9 billion to his Fortune last Friday, October 23, 2015, when Amazon.com’s shares went up by more than $35.
Toshiba Close to Selling Sensor Business to Sony, Looking to Raise Cash
Toshiba Corp. is close to selling its sensor business to Sony Corp. for about ¥20 million, or about $165 million, people familiar with the matter told Bloomberg. The company is looking to sell its assets and raise cash following an accounting scandal.