Coverage: Amazon ups holiday hiring to 120,000
Online retailer Amazon.com plans to hire 120,000 seasonal workers this holiday, or 20,000 more than it hired last year. Joshua Jamerson of The Wall Street Journal had the news: The Seattle retailer plans to add 120,000 seasonal positions, up from 100,000 last year. By comparison, Target Corp. is looking to hire 70,000 additional workers in its […]
Coverage: Wells Fargo CEO resigns immediately
Wells Fargo & Co. CEO John Stumpf resigned immediately on Wednesday, unable to overcome the scandal that has rocked the bank in recent months. Zeke Faux and Laura J. Keller of Bloomberg News had the news: Stumpf, 63, is retiring from both posts effective immediately, the bank said Wednesday in a statement. Tim Sloan, 56, the company’s president […]
Coverage: New directors at BW3 fails to appease activist investor
Sports bar chain Buffalo Wild Wings has added three outside board members amid pressure from an activist shareholder. Austen Hufford of The Wall Street Journal had the news: The chicken-wing restaurant operator said directors Dale Applequist and Warren Mack were resigning immediately, advancing their planned retirements. Marcato Capital Management LP, which has a 5.2% stake in […]
Coverage: Alcoa kicks off earnings season
Alcoa Inc. will report earnings before the market opens on Tuesday, its last before splitting into two companies. Tomi Kilgore of MarketWatch.com has the preview: There is some reason for investors to be optimistic ahead of the aluminum giant’s final report before it splits into two companies. On Oct. 5, Alcoa completed a one-for-three reverse stock split […]
Coverage: Alibaba strikes movie deal with Spielberg
Alibaba Group Holding Ltd. has struck a deal with Steven Spielberg’s Amblin Partners to produce, finance and distribute movies, further expanding the online retailer’s business. Alyssa Abkowitz and Erich Schwartzel of The Wall Street Journal had the news: Amblin and the e-commerce company’s movie business, Alibaba Pictures Group Ltd., said their alliance will help Mr. Spielberg’s company distribute […]
Silicon Valley Biz Journal editor recuses himself from Yahoo coverage
A story on the Silicon Valley Business Journal website Friday afternoon says that its editor has recused himself from the newspaper’s Yahoo coverage. The editor, Scott Ard, sued Yahoo and CEO Marissa Mayer earlier this week alleging that the company had a system of eliminating male employees. The story, written by Jon Wile and Craig Douglas, states, “Scott Ard, […]
Coverage: Snapchat planning IPO for early 2017
Social media company Snapchat is preparing an initial public offering that would value the company at a whopping $25 billion. Paresh Dave of the Los Angeles Times had the news: As one of the few private companies in the world valued at more than $10 billion, Snap already has raised the Los Angeles tech industry’s profile. […]
Coverage: Wal-Mart ups stake in Chinese online retailer
Wal-Mart Stores Inc., the world’s largest retailer, has increased its stake in JD.com, China’s No. 2 e-commerce site, to 10.8 percent, up from 5.9 percent. Anne D’Innocenzio of the Associated Press has the news: The move comes four months after Wal-Mart bought an initial stake in JD.com in a deal that also gave JD.com ownership to […]
Coverage: Bass Pro Shops, banks to buy rival Cabela’s
Bass Pro Shops, Goldman Sachs Group Inc.’s private equity arm and Capital One Financial Corp. are in the lead to acquire U.S. outdoor gear retailer Cabela’s Inc. for more than $4 billion. Greg Roumeliotis of Reuters has the day’s news: The deal would unite two of the country’s largest hunting and fishing retailers and likely face antitrust […]
Coverage: Qualcomm in talks to acquire NXP for more than $30 billion
San Diego-based Qualcomm Inc. is in talks to acquire NXP Semiconductors NV for more than $30 billion amid consolidation in the semiconductor industry. Michael de la Merced of the New York Times had the news: A union of Qualcomm and NXP would be the latest in an industry that has recently experienced big mergers. Earlier this year, […]
