The Justice Department in the U.S. has filed suit Wednesday to stop Baker Hughes from being acquired by Halliburton Co, arguing that the combination of the second and third largest oil services would hurt the competition in that sector. The deal, which was worth over $35 million when first announced in November of 2014, would […]
Alaska Air Will Acquire Virgin America for $2.6 Billion
Virgin America is being acquiring by Alaska Air Group for $2.6 billion, which will make Alaska Air the largest carrier on the West Coast as well as re-start the debate over the consolidation of airlines. This proposed takeover would also give Alaska, based in Seattle, a bigger foothold in both Washington, D.C. and New York, […]
Carnival Sees Profit Surge as Cost of Fuel Continues Slide
Carnival Corp announced that its earnings had nearly tripled over the most recent quarter as the operator of cruise ships continued to be the benefactor of sliding fuel costs. Shares increased 5% in early Wednesday trading on Wall Street as the adjusted earnings per share and its revenue beat analyst expectations. For its fiscal year […]
Pandora Appoints Tim Westergren as New CEO
Pandora the music streaming service on Internet might be trying to become a takeover target, but even more immediately, it is focused on restructuring its management again to ensure investor confidence. Today, Pandora announced that Tim Westergren its founder has take over the reins as the CEO, and that Brian McAndrews, who had been the […]
Valspar Stock Soars on Acquisition by Rival Sherwin-Williams
Valspar Corp shares jumped 24% on Monday morning just a day after the company announced it was being purchased by Sherwin-Williams Co its rival for a price of $11.3 billion. As investors across the country cheered, executives during a call with media and investors would not clarify what would happen to over 600 employees at […]
Dominos to Launch Robot Delivery Service
Dominos Pizza has unveiled its plans for a trial of the first driverless pizza robots for delivery in the world. The robot, known as Dominos Robotic Unit, affectionately called DRU, will debut in both Australia as well as New Zealand. The robot was designed and developed in Australia. It is powered by Marathon Robotics technology. […]
Charter Communications Takeover of TWC Headed for Approval of FCC
Charter Communications’ proposed takeover of $67 billion for Time Warner Cable as well as Bright House Networks is close in being approved by federal officials who are poised to approve this deal over the upcoming weeks. The U.S. Department of Justice and the Federal Trade Communications Commission must both approve of the consolidation that would […]
Bid of $14 Billion puts Anbang into Spotlight
A bid of $14 billion to acquire Starwood Hotels and Resorts Worldwide surfaced on Monday, which put a spotlight directly on Anbang Insurance Group based in China and complicating a plan to merge Marriott International and Starwood into the largest hotel company in the world. On Friday, Starwood let Marriott know that it had received […]
Ford Announces Silicon Valley Move
Detroit automaker Ford Motor Co. announced on Friday that it would open up shop in Silicon Valley as it races against the clock to compete in the ride sharing industry. Ford said it was establishing a subsidiary in Palo Alto, California to build and to invest in new options of mobility, including ride hailing and […]
Amazon Signs Deal With ATSG for Air Cargo
On Wednesday, Air Transport Services Group announced it signed new deals to lease as well as operate 20, 767 Boeing Jets for Amazon Fulfillment Services. This deal has confirmed a secret that has been poorly kept that Amazon was the client for which ATSG was operating a test for air delivery of its own, to […]