Franchise News
Synchrony Receives Approval from Federal Reserve Bank, One Step Closer to Becoming Fully Independent Company
Yum! Brands Announces Appointment of Keith Mester into Board, Updates Outlook for 2015
Yum! Brands, Inc., the company that owns KFC, Pizza Hut and Taco Bell, has announced in a press release the appointment of Keith A. Meister into its board of directors. The company also updated its outlook for 2015.
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Paypal Announces Expansion of Free Return Service, Hopes to Increase Percentage of Online Holiday Sales
Paypal Holdings Inc., will be expanding its free return service called “Return Shipping On Us,” which is now available in the U.S., according to a report from Techcrunch. Paypal is expanding the service in hopes of increasing its percentage of online holiday sales.
Entergy to Close Down Pilgrin Nuclear Power Station in Massachusetts, Due to Low Energy Prices, High Operating Costs, Little Expectation of Market Improvements
Entergy Corporation, an integrated energy company engaged primarily in electric power production and retail distribution operations, will be closing down its Pilgrim Nuclear Power Station in Plymouth, Massachusetts no later than June 1, 2019, according to a press release issued by Entergy. The closing down of the nuclear power station is due to poor market conditions, increased operational costs, and reduced revenues.
Etihad Signs $700 Million Technology Service Agreement with IBM, Enhance Airline's Guest Experience, Develop Infrastructure, Security
Etihad Airways has signed a ten-year technology service agreement with IBM worth approximately $700 million, according to a press release issued by Etihad. The agreement will allow the airline to enhance its guest experience, develop infrastructure and security, and improve efficiency.
Jes Staley Set to be Announced as Barcaly's New CEO, Analysts Concerned that Bank Will Go Back to Focusing on Investment Banking
People familiar with the matter told Financial Times that Barclays is planning to appoint Jes Staley, the former head of investment banking at J.P. Morgan & Chase Co., to be their next CEO. Staley’s appointment, which is awaiting approval from regulators, is set to be announced in the next two weeks. Analysts are concerned that the hiring of Staley would mean Barclays would go back towards investment banking, according to The Wall Street Journal.
Twitter to Cut about 8% of Workforce, Part of Plan to Focus on Product Priorites, Provide Efficiency Company
Twitter, Inc. is planning to lay off up to 336 employees, or about 8 percent of the company’s global workforce, according to a SEC filing by Twitter. The job cuts are part of an overall plan to organize the company around its top priority products and drive efficiencies.
Dell to Acquire EMC for about $67 Billion, Will Create Largest Integrated Technology Company
Dell Inc. has announced in a press release that it will be acquiring EMC Corporation for approximately $67 billion. The combination of the two companies will create the world’s largest privately-controlled, integrated technology company.
Glencore to Sell Two of its Copper Mines as Interest from Potential Buyers are High, Part of Plan to Cut Debt
Glencore Plc has announced in a press release that it is commencing the process of selling its Cobar copper mine in Australia and the Lomas Bayas copper mine in Chile. The sale is a response to the high number of unsolicited expressions of interests for these mines from potential buyers. Reuters adds that the sale is also part of Glencore’s plan to reduce the company’s debt burden that was accumulated during an asset purchase spree.
Deutsche Bank Considering Sale of Abbey Life, Part of Restructuring Plan to Restore Profitability
Several people familiar with the matter said that Deutsche Bank is considering the possibility of selling its insurance unit Abbey Life, according to a report from Bloomberg. The possible sale is part of the company’s plan to restructure itself and restore the company back to profitability.
Ford to Invest $1.8 Billion on Research and Development on Smart Cars in China, Looking to Increase Sales in Asian Country
Ford Motor Co. is investing about 11.4 billion yuan or about $1.8 billion over the next five years on research and development for smart cars that is aimed to attract Chinese buyers, according to a report from The Wall Street Journal. The automaker is looking to increase its sales in the second largest economy in the world with its investment.
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