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Kraft Heinz Bids $143B For Unilever, Is Rebuffed

Kraft Heinz (NASDAQ:KHC) has offered to buy Unilever (NYSE:UL) in a $143 billion deal that would potentially combine some of the world’s best known consumer brands. Unilever said that Kraft Heinz offered to pay $50 a share for the company in a mix of cash and stock. The proposal is for $30.23 a share in […]

Kate Spade Seeking Buyer

Kate Spade (NYSE:KATE) is reportedly seeking a buyer for its business. The company confirmed that it is examining “strategic alternatives” for the business. CEO Craig Leavitt stated that the company was “exploring strategic alternatives that are in the best interests of our Company and shareholders.” Kate Spade changed its name from Fifth & Pacific Cos […]

Time Warner Shareholders Approve AT&T Deal

Time Warner Inc. (NYSE:TWX) shareholders have voted to sell the company to AT&T (NYSE:T) for $85.4-billion. According to a preliminary count of the votes, stockholders representing about 79 percent of the outstanding shares of common stock approved the merger agreement. Time Warner agreed to AT&T’s offer of $107.50 a share on Oct. 22. At the […]

Aetna Merger With Humana Canceled

The planned merger between Aetna Inc. (NYSE:AET) and Humana Inc. (NYSE:HUM) has been officially called off. Aetna also terminated its plan to sell some Medicare Advantage assets to Molina Healthcare Inc., which was seen as a way to try to win Justice Department approval for the Humana deal. Aetna chief executive Mark T. Bertolini said […]

Marathon Pharmaceuticals Taking Heat Over Drug Pricing

Marathon Pharmaceuticals has frozen the rollout of muscular dystrophy drug Emflaza, its brand name for deflazacort, after taking significant criticism over its pricing plan for the drug. Emflaza received regulatory approval for U.S. sales last week. Marathon CEO Jeffrey Aronin said in a statement, “We have not sold any new product, and we will pause […]

Honda Partners With Hitachi On Electric Car Venture

Honda Motor Co. (HMC) plans to partner with Hitachi Automotive Systems Ltd., a wholly owned subsidiary of Hitachi Ltd. (HTHIY), in a joint venture to develop, produce and sell motors for electric vehicles. The joint venture, which has yet to be named, will be 51 percent owned by Hitachi, while Honda will control the remaining […]

Exxon Mobil Beats Earnings Forecasts

Exxon Mobil (NYSE:XOM) beat forecasts on earnings for the fourth quarter of its fiscal year. Exxon reported a fourth-quarter adjusted profit of 90 cents a share, higher than Wall Street analysts’ estimates of 70 cents a share. In the same period a year ago, it reported earnings of $2.8 billion, or 67 cents a share. […]

President Trump Turns Attention To Drug Manufacturing

At a White House meeting surrounded by aides, President Donald Trump talked to eight pharmaceutical company executives about ways to make the American drug manufacturing industry more competitive. The message to the pharmaceutical company executives was similar to one he delivered to the auto executives that met with him last week. He said he would […]

Chinese Firm Seeks To Buy MoneyGram

Ant Financial Services Group, the payment affiliate of Chinese e-commerce giant Alibaba Group Holding, wants to buy money-transfer company MoneyGram International (NASDAQ:MGI) and is apparently willing to pay about $880 million for it. The offer of $13.25 per share is at a premium of 11.5 percent to MoneyGram’s Wednesday’s close. MoneyGram’s biggest shareholder, private equity […]

Aetna Accused Of Falsifying Reasons For Exiting Health Exchanges

U.S. District Judge John Bates issued a 158-page ruling on Monday blocking Aetna’s (NYSE:AET) merger with Humana (NYSE:HUM) due to anti-competitive concerns. The Department of Justice sued to block the merger in July of last year, saying it would wipe out competition in 17 counties in Florida, Georgia and Missouri. Bates wrote in his ruling […]

Deal Between Verizon And Yahoo Delayed

Verizon Communications Inc. (NYSE:VZ) has pushed back the expected closing date for its purchase of Yahoo Inc.’s (NASDAQ:YHOO) main business. Verizon cited “work required to meet closing conditions” as the reason for the delayed timetable. The transaction had been expected to close in the first three months of 2017. Now, it is believed that the […]

EpiPen Rival Coming In February

A competitor to Mylan’s EpiPen is set to return to the market starting in February. The Auvi-Q is an epinephrine auto-injector sold by Virginia-based manufacturer Kaleo. The auto-injection adrenaline system is a lifesaving product that wards off anaphylactic shock during a severe allergy attack. The device was previously recalled in 2015 for what the FDA […]

Western Union Reaches Settlement On Fraud Charges

Western Union Co. (NYSE:WU) has reached a settlement with U.S. regulators over charges that the bank failed to stop money laundering and wire fraud. The bank agreed to pay $586 million as part of the settlement. The penalty was imposed by the Justice Department and Federal Trade Commission. The fine is the biggest ever against […]

China Moves To Regulate App Stores

The Cyberspace Administration of China says that app stores will now be officially regulated. In a notice posted to its website, the Cyberspace Administration announced mobile app stores will now required to register with its offices. The government says that this new measure will make the stores both safer and more profitable. App stores will […]

President-Elect’s Plan For Health Insurance Light On Details

President-elect Donald J. Trump has announced nearing completion on a plan to replace President Obama’s Affordable Care Act. He said that his plan would be unveiled soon after the confirmation of Representative Tom Price, Republican of Georgia, by the Senate to be the secretary of health and human services. Price is appearing before the Senate […]

Wells Fargo Fourth Quarter Income Results Miss Estimates

Wells Fargo & Co. (NYSE:WFC) has released the results for the fourth quarter of its fiscal year. The company reports that net income fell 5.4 percent to $5.27 billion, or 96 cents a share, from $5.58 billion, or $1, a year earlier. The average estimate of surveyed analysts was for adjusted profit of $1 a […]

Fiat Chrysler Accused Of Cheating On Emissions Tests

The Environmental Protection Agency has accused Fiat Chrysler (NYSE:FCAU) of cheating on emissions test by using specialized software. The EPA says that the company installed software on certain diesel trucks that allowed them to emit far more pollutants than emissions laws allow under the Clean Air Act. The software reduced the amount of nitrogen oxide […]

UnitedHealth Announces Plan To Buy Surgical Care Affiliates

UnitedHealth Group (NYSE:UNH) has announced its intentions to acquire Surgical Care Affiliates (NASDAQ:SCAI), a chain of outpatient surgery centers. UnitedHealth agreed to pay about $2.3 billion for the purchase of Surgical Care Affiliates’ outstanding common stock, or roughly $57 a share. The company says it plans to fund between 51 percent and 80 percent of […]

Uber Movement Gives Traffic Data To Cities

Uber has developed a new website called Movement that will give cities access to the company’s traffic flow data. The new Movement website is intended for use by those interested in improving urban mobility. In a blog post written on Jan. 8, the company stated, “City planners face a myriad of challenges, and we hope […]

Mars Inc. Purchasing VCA Inc. For $7.7 Billion

Mars Inc. has agreed to acquire veterinary services company VCA Inc. (NASDAQ:WOOF) for $7.7 billion, or $93 a share, in an all-cash transaction. Including debt, the deal is valued at $9.1 billion. The statement from the companies said that the deal has been approved by the boards of both companies. Mars has committed financing from […]

T-Mobile Launches New Initiatives That Benefit Customers

T-Mobile (NYSE:PCS) is continuing on its path to disrupt the wireless industry. The company recently announced a number of new initiatives that are designed to increase transparency and make things easier for their customers. Beginning January 22, T-Mobile will only offer the T-Mobile ONE plan. With the new plan, T-Mobile customers will be charged exactly […]

Sears Sells Craftsman Brand To Stanley

Sears Holdings Inc. (NASDAQ:SHLD) has sold the 90-year-old Craftsman brand to Stanley Black & Decker Inc. (NYSE:SWK) in a $900 million deal. The agreement calls for Stanley to pay $525 million when the deal closes and another $250 million after three years. Stanley will also pay Sears a percentage of its new sales of Craftsman […]

Gates Foundation Making Big Investment In HIV Prevention

A tiny implantable drug pump designed to prevent infection by the human immunodeficiency virus (HIV) is getting a big boost from the Bill and Melinda Gates Foundation. The Gates Foundation is investing $140 million to help Intarcia Therapeutics, a Boston-based biopharmaceutical company, develop the implantable pump. The pump uses Intarcia’s Medici Drug Delivery System, which […]

Fiat Chrysler Partners With Google On Infotainment System

Fiat Chrysler (NYSE:FCAU) has partnered with Alphabet’s Google (NASDAQ:GOOG) to build a new in-car infotainment system. The companies announced the partnership just ahead of the beginning of CES, the annual consumer electronics show in Las Vegas. The new system is a combination of FCA’s UConnect infotainment system and Android 7.0 Nougat, released in 2016. It […]

Disease Detecting Breathalyzer Can Diagnose 17 Conditions

Researchers from the Israel Institute of Technology are expressing enthusiasm for what appears to be a breakthrough in disease detection. A way has been discovered to test for 17 different diseases using a single breath from a patient. Microscopic compounds in the breath, called volatile organic compounds (VOCs), can be analyzed to detect each condition. […]

Amazon Secures Patent For ‘Airborne Fulfillment Center’

Amazon (NASDAQ:AMZN) has been awarded a patent for a logistics technology described as an “airborne fulfillment center (AFC).” Amazon originally filed for the patent in 2014. It was awarded in April, but wasn’t discovered until this week. Amazon hasn’t publicly commented on the patent and traditionally doesn’t comment on its patents for drone technologies. Amazon […]

Samsung To Sell Voice Controlled Robot Vacuum

Samsung is launching a new robot vacuum that you can control with your voice called the POWERbot VR7000. Details are still pretty scarce at the moment and there’s no word yet on pricing or availability. Samsung has announced plans to show the device off next week at the Consumer Electronics Show. The POWERbot VR7000 can […]

Merck: Ebola Vaccine 100% Protective

A vaccine for Ebola now licensed to Merck & Co., Inc. (NYSE:MRK) is being hailed as a success after being shown to provide 100 percent protection against the lethal disease. The vaccine, known as rVSV-ZEBOV, provides a faster, more efficient way to kill off the virus before it can do substantial damage to the body. […]

Praxair And Linde Announce Merger Intentions

Praxair Inc. (NYSE:PX) and Linde AG (FRA:LIN) have announced their intentions to join forces to create the industrial-gas industry’s biggest player. Praxair and Linde make gases used in all sorts of industrial applications, as well as in manufacturing and food production. The merged company would have a combined market value of $66.6 billion and about […]

Twitter To Relaunch Vine As Vine Camera

Twitter (NYSE:TWTR) recently announced that the mobile app Vine will be relaunched as Vine Camera in January 2017. A blog post by the Vine team said, “In January, we are transitioning the Vine app to a pared-down Vine Camera. With this camera app you will still be able to make six-second looping videos, and either […]

BlackBerry Investing Heavily In Smart Car Technology

BlackBerry (NASDAQ:BBRY) is opening an autonomous driving research center to develop advanced driver assistance and autonomous vehicle technology. Prime Minister Justin Trudeau will attend the launch by the Waterloo, Ontario-based company. BlackBerry has remained tight-lipped regarding exact details of the new center. The facility is said to be developing advanced driving features like automatic emergency […]

Mylan Ready To Release Generic EpiPen

Mylan (NASDAQ:MYL) CEO Heather Bresch has announced that the “authorized generic” EpiPen will be available next week. The company is introducing the generic at a price of $300 for a two-pack, half the cost of its brand-name cousin. Mylan said it is offering a savings card for eligible patients with commercial health insurance, providing up […]

Alaska Airlines And Virgin America Begin Process Of Merging

Alaska Air Group (NYSE:ALK) has formally begun the process of merging with San Francisco-based Virgin America after officially closing on the acquisition. The merger has created what is now the fifth largest U.S. airline. The combined operation will have an expanded route network of nearly 1,200 daily flights to 118 destinations in the United States, […]

Disney Sued Over Worker Discrimination Allegations

A group of information technology workers have sued Walt Disney Parks and Resorts (NYSE:DIS) over alleged workplace discrimination violations. The 30 laid off IT workers says they were fired and replaced by contractors from India, making them victims of national origin discrimination. The lawsuit was filed in the US District Court of Orlando. Disney said […]

Johnson & Johnson Ends Bid For Actelion

Johnson & Johnson (NYSE:JNJ) has ended its bid to buy Swiss drug company Actelion Pharmaceuticals Ltd. The pursuit of a deal was announced by the companies last month. Actelion shares have risen in recent weeks on expectations of a takeover. Jean-Paul Clozel, Actelion’s chief executive and founder, was reportedly open to a deal that would […]

Boeing Seals $16.6B Deal With Iran

Boeing Co. (NYSE:BA) has completed the first major agreement between a U.S. company and Iran by clinching a deal to sell 80 jetliners to the Islamic Republic. The Boeing deal, first announced in June, is valued at $16.6 billion. U.S. officials cleared the way for Boeing to start the contract talks in September. The company […]

T-Mobile’s New Service Gives Users More Freedom Over Numbers

T-Mobile (NYSE:PCS) has launched a new service called Digits that gives users much more freedom with their phone numbers than before. T-Mobile COO Mike Sievert announced the project saying, “Since the beginning of telephones, one number has been tied to one phone. Since GSM came out, that number was seared into that SIM chip. We’ve […]

Pfizer Slapped With Record Fine For Price Increases

Regulators in Britain slapped Pfizer Inc. (NYSE:PFE) with a record £84.2 million ($107 million) fine this week for allegedly overcharging the national health-care system for an epilepsy treatment. The Competition and Markets Authority said Pfizer charged unfair prices in the U.K. for phenytoin sodium, breaking competition law. Drug-distribution company Flynn Pharma Ltd. Was also charged […]

Fitbit To Acquire Assets Of Smartwatch Maker Pebble

Fitbit Inc. (NYSE:FIT) has officially announced that it is buying key assets from smartwatch startup Pebble. The deal reportedly closed yesterday, December 6. Fitbit co-founder and CEO James Park said in a release, “With this acquisition, we’re well positioned to accelerate the expansion of our platform and ecosystem to make Fitbit a vital part of […]

Chipotle Turns Its Focus To Improving Customer Service

Even Chipotle Mexican Grill (NYSE:CMG) thinks a lot of its restaurants leave a lot to be desired. Chipotle co-founder and CEO Steve Ells admits that he doesn’t think his restaurants are run well enough to bring customers back. He gives only half of Chipotle’s restaurants an A or a B grade, with most of the […]

AT&T’s New Plan Draws Fire From FCC

AT&T’s (NYSE:T) planned use of data cap exemptions, a practice known as “zero-rating,” has attracted the attention of the Federal Communications Commission. The practice could be a violation of net neutrality. Net neutrality is the principle that broadband providers should treat all content, sites, and platforms equally in terms of traffic. Some companies have attempted […]

Carrier Corp. Offered $7M In Incentives To Retain U.S. Jobs

Carrier Corp. will receive a $7 million incentive package as part of a deal to keep some of its workers in the United States. Carrier will receive $5 million in tax credits over 10 years in exchange for keeping 1,069 jobs at its Indianapolis plant. The company also will receive $1 million in training grants […]

Airbnb Agrees To Rental Limits For First Time

Popular home-sharing website Airbnb has agreed to rental limits in two European cities after complaints that the company’s practices were negatively affecting home availability. Critics complain that homeowners using the site can potentially make more money by renting out their properties to short-term visitors instead of long-term tenants. Airbnb promised to institute restrictions that would […]

GoPro Slashing Jobs In Bid To Become Profitable

GoPro Inc. (NASDAQ:GPRO) has announced that it will reduce its workforce by 15 percent in its latest bid to help the company become profitable. That equates to more than 200 full-time positions. The company currently employs approximately 1,700 people. Tony Bates, who joined as GoPro’s President in June 2014, is stepping down by the end […]

Samsung Responds To Investors’ Call For Change

South Korean electronics giant Samsung (SSNLF) has issued a response to pressure from investors seeking changes in the company. The company released a lengthy statement detailing how it was working to satisfy shareholders. In the statement, the company said it was looking at ways to optimize its long-term value. Investors have been calling for the […]

Teva Pharmaceutical To Market World’s First Medical Cannabis Inhaler

Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) is on track to begin marketing the world’s first inhaler for medical cannabis. Teva partnered with Syqe Medical to develop the device. In a statement, the companies said that the device was the first inhaler in the world capable of delivering botanicals at the level of safety and precision of […]

New Skin Patch Tracks Health Through Sweat

Researchers are developing an innovative new way to track health and fitness. A skin patch has been developed that can test droplets of sweat to track health while people exercise. Testing showed that the patches would work even on sweaty bicyclists throughout a long-distance race in Arizona. Researchers revealed the details of the devices in […]

Tesla Completes Deal For SolarCity

Tesla Motors’ (NASDAQ:TSLA) deal to acquire SolarCity Corp. (NASDAQ:SCTY) closed Monday. The all-stock deal valued SolarCity at $2 billion based on Tesla’s closing stock price Friday. When Tesla and SolarCity announced the agreement in August, it was worth $2.6 billion. However, both of their share prices have dropped since then. Tesla CEO Elon Musk is […]

Symantec Announces Bid To Buy LifeLock

Computer security firm Symantec (NASDAQ:SYMC) announced a $2.3 billion bid to buy identity protection service LifeLock (NYSE:LOCK) on Monday. The offer for LifeLock values its shares at $24 apiece, 16 percent above Friday’s closing price. Symantec says that it will finance the deal with a combination of cash and $750 million of new debt. The […]

Facebook Enhances WhatsApp With Secure Video Calling

Facebook (NASDAQ:FB) is adding fully encrypted video calling to its WhatsApp messaging app in a move to assuage privacy concerns. Now, people have another way to communicate without fear of eavesdropping by companies or government authorities. The feature will be introduced at an event in India and subsequently be rolled out to 180 countries within […]