A customer enters a Nike store in the Magnificent Mile shopping district in Chicago, Illinois, on December 21, 2022. Scott Olson | Getty Images Nike plans to simplify its product assortment, increase automation and use of technology, streamline its overall organization and use its scale “to increase efficiency,” the company said in a press release … [Read more…]
Among the many deals that have fallen through recently, Adobe’s $20 billion acquisition of Figma, an up-and-coming design software maker, is among the most telling. The companies had promised that it was a way to “launch a new era of collaborative creativity,” but regulators in three jurisdictions saw it as an unacceptable attempt by a … [Read more…]
The financier of the Legault government, Finance Minister Eric Girard, has lost all the room for maneuver he had given himself in the 2023-2024 budget presented last March. According to the report on the financial situation for the 2nd quarter just presented by the Minister, the “contingency reserves” of 1.5 billion provided for in the … [Read more…]
US ports will receive millions of dollars in grants to improve cargo handling infrastructure. The grants are part of the Biden administration’s $21 billion commitment to modernize port infrastructure in the United States Mid-sized port cities like Baltimore are among the 2023 grant recipients. In November, the Port of Baltimore received a $47 million grant … [Read more…]
Choice Hotels is launching a hostile takeover bid for Wyndham Hotels & Resorts after repeated attempts to reach an agreement with the rival hotel chain were rebuffed. Choice Hotels said Tuesday that its exchange offer to shareholders of Wyndham, which operates Days Inn, La Quinta, Ramada and a host of other brands, is consistent with … [Read more…]
A JP Morgan logo is seen on January 10, 2017 in New York City, USA. Portal/Stephanie Keith/File Photo Acquire License Rights HONG KONG, Dec 12 (Portal) – JPMorgan Chase (JPM.N) will outsource operations of its local depository business in Hong Kong and Taiwan to Citigroup (CN), HSBC (HSBA.L) and Standard Chartered (STAN). L) in the … [Read more…]
Longtime Macy’s (M) shareholders just received an early Christmas present. Macy’s has received a $5.8 billion takeover offer from real estate investor Arkhouse Management and asset manager Brigade Capital Management, a source familiar with the matter told Yahoo Finance late Sunday. The company’s board is considering the offer. The WSJ first reported news of the … [Read more…]
SpaceX owner and Tesla CEO Elon Musk at the Axel Springer Awards ceremony on December 1, 2020 in Berlin. Hannibal Hanschke – Getty Images Elon Musk’s X may be on the rise, but another company owned by the billionaire is on its way to reaching dizzying heights. Musk is in talks to sell $500 million … [Read more…]
(Bloomberg) — AT&T Inc. will hire Ericsson AB to modernize its U.S. wireless network, a project that could cost nearly $14 billion over five years. Most read by Bloomberg For Ericsson, which already accounts for about two-thirds of AT&T’s U.S. network, the deal represents a significant win over rival Nokia Oyj, which accounted for the … [Read more…]
A major Swiss bank admits it worked with U.S. taxpayers and others to hide more than $5.6 billion from the Internal Revenue Service. Banque Pictet, the private banking arm of the Pictet Group, has agreed to pay around $122.9 million in restitution and penalties in an agreement with prosecutors. If the bank complies with the … [Read more…]