Amazon will hire 100,000 people as online shopping booms
Amazon is hiring 100,000 in packing, shipping, and sorting as its online business flourishes amid the pandemic. Joseph Pisani reported the news for the AP: Amazon will hire another 100,000 people to keep up with a surge of online orders. The company said Monday that the new hires will help pack, ship or sort orders, […]
TikTok rejects Microsoft bid, to team up with Oracle
TikTok’s parent ByteDance has rejected Microsoft’s bid for the video-sharing platform, which will now partner with Oracle. Echo Wang and Greg Roumeliotis from Reuters reported: ByteDance has abandoned the sale of TikTok in the United States to pursue a partnership with Oracle Corp ORCL.N that it hopes will spare it a U.S. ban while appeasing […]
Jane Fraser takes helm at Citi
Jane Fraser, the new CEO of Citi, has become the first woman to lead a major Wall Street bank. C Nivedita and Noor Zainab Hussain from Reuters reported: Citigroup Inc C.N named consumer banking head Jane Fraser as its next chief executive on Thursday, making her the first woman to lead a major Wall Street […]
LVMH drops plan to acquire Tiffany
Luxury goods conglomerate LVMH has dropped its $14.5-billion offer for Tiffany amid the fallout of the coronavirus pandemic and a threat of U.S. sanctions. The AP’s Anne D’Innocenzio reported: Luxury goods giant LVMH is ending its takeover deal of jewelry retailer Tiffany & Co., saying the French government had requested a delay to assess the […]
Bloomberg’s Eidelson wins Sidney Award
The Sidney Hillman Foundation announced Wednesday that Josh Eidelson of Bloomberg Businessweek has won the September Sidney Award for “Covid Gag Rules at U.S. Companies Are Putting Everyone at Risk.” The story showed that major companies are covering up COVID-19 cases by forbidding staffers from disclosing that they or a coworker has tested positive. Lindsay […]
GM inks partnership deal with EV startup
GM has acquired 11% in EV and hydrogen vehicle startup Nikola in exchange for which it will supply the company with know-how and technology. Alexis Benveniste reported the news for CNN: General Motors and Nikola are teaming up to work on the Nikola Badger, a fully electric and hydrogen fuel cell electric pickup truck. The […]
Verizon awards $6.6-bln 5G contract to Samsung
Verizon has picked Samsung to build a 5G infrastructure in a $6.6-billion deal. Dee-Ann Durbin reported the news for the AP: Samsung Electronics Co. will develop 5G network infrastructure for Verizon Communications under a $6.65 billion deal announced Monday. The contract runs through 2025, according to a Samsung corporate filing. Samsung and Verizon have worked […]
GM, Honda team up on future cars
GM and Honda have signed a preliminary partnership deal to work together on technology and vehicles. Ciara Linnane reported the news for MarketWatch: General Motors Co. and Honda Motor Co. Ltd. said Thursday they have signed a memorandum of understanding to create a strategic alliance in North America and will explore sharing platforms and propulsion […]
How Wirecard tried to discredit FT’s reporting
Financial Times investigative reporter Dan McCrum writes about how German company Wirecard attempted to discredit his reporting about the company. McCrum writes, “At the FT we were dumbfounded. A senior executive at a large publicly listed European company had brazenly tried to spoof our journalists into running a completely fabricated, highly price-sensitive story. This was simply outside […]
Macy’s prioritizes online sales, thinks smaller shops
Macy’s will bet big on online sales this holiday season and will also move away from malls into smaller outlets. Melissa Fares and Nivedita Balu reported the news for Reuters: Macy’s Inc (M.N) will drastically change how it does business this holiday season, executives said on Wednesday, placing a sharper focus on online sales and […]
