Company news
Nestle, Starbucks wrap up US$7.15 billion licensing deal
Nestle and Starbucks said on Tuesday they had concluded their licensing deal for the Swiss food giant to market the US coffee maker’s packaged coffees and teas around the world.
The US$7.15 billion deal grants Nestle perpetual rights to sell Starbucks products such as Starbucks, Seattle’s Best Coffee and TeavanaTM/MC outside of the US company’s coffee shops, and will result in about 500 Starbucks employees shifting to Nestle.
-Nampa/Reuters
Toyota to invest US$500 million in Uber
Toyota Motor Corp will invest US$500 million in Uber Technologies Inc to jointly work on developing self-driving cars, the companies said on Monday, a bid by both to catch up to rivals in the hotly competitive autonomous driving business.
Toyota, one of the world’s largest carmakers, and Uber, the leading ride-hailing service, are widely seen as lagging the competition in developing self-driving cars.
Their deal deepens an existing relationship and reflects CEO Dara Khosrowshahi’s strategy of Uber developing autonomous vehicles through partnerships, rather than on its own.
-Nampa/Reuters
Fidelity backs Facebook's privacy response
Facebook Inc’s second-biggest outside investor has offered backing for the world’s largest social media company as it faces public criticism for what people see on its service and how much user information is shared with third parties.
Comments by Fidelity Contrafund’s Will Danoff, who like other top mutual fund managers rarely voices an opinion about a holding, represent key support for management as some investors seek change at Facebook, but also drew criticism that he should take a tougher line.
-Nampa/Reuters
Bank of Spain's website hit by cyber attack
The Bank of Spain’s website has been hit since Sunday by a cyber attack which has temporarily disrupted access to the site, a spokesman for the central bank said on Monday.
The spokesman said that the attack has not had any effect on the bank’s services or its communications with the European Central Bank or other institutions and that there was no risk of a data breach.
“It is a denial of service attack that intermittently affects access to our website, but it has had no effect on the normal functioning of the entity,” the spokesman said.
-Nampa/Reuters
'Amazon effect' could have impact on inflation dynamics
More frequent price changes for goods and a rise in the consistency of pricing due to the growth of online retailers may be affecting inflation, according to an academic paper presented on Saturday to some of the world’s top central bankers.
“In the past 10 years online competition has raised both the frequency of price changes and the degree of uniform pricing across locations,” said Alberto Cavallo, an associate professor at Harvard Business School, who analyzed how so-called multi-channel retailers - those with brick-and-mortar and online outlets - such as Walmart Inc have reacted to the rise of Amazon.com Inc.
-Nampa/Reuters
Nestle and Starbucks said on Tuesday they had concluded their licensing deal for the Swiss food giant to market the US coffee maker’s packaged coffees and teas around the world.
The US$7.15 billion deal grants Nestle perpetual rights to sell Starbucks products such as Starbucks, Seattle’s Best Coffee and TeavanaTM/MC outside of the US company’s coffee shops, and will result in about 500 Starbucks employees shifting to Nestle.
-Nampa/Reuters
Toyota to invest US$500 million in Uber
Toyota Motor Corp will invest US$500 million in Uber Technologies Inc to jointly work on developing self-driving cars, the companies said on Monday, a bid by both to catch up to rivals in the hotly competitive autonomous driving business.
Toyota, one of the world’s largest carmakers, and Uber, the leading ride-hailing service, are widely seen as lagging the competition in developing self-driving cars.
Their deal deepens an existing relationship and reflects CEO Dara Khosrowshahi’s strategy of Uber developing autonomous vehicles through partnerships, rather than on its own.
-Nampa/Reuters
Fidelity backs Facebook's privacy response
Facebook Inc’s second-biggest outside investor has offered backing for the world’s largest social media company as it faces public criticism for what people see on its service and how much user information is shared with third parties.
Comments by Fidelity Contrafund’s Will Danoff, who like other top mutual fund managers rarely voices an opinion about a holding, represent key support for management as some investors seek change at Facebook, but also drew criticism that he should take a tougher line.
-Nampa/Reuters
Bank of Spain's website hit by cyber attack
The Bank of Spain’s website has been hit since Sunday by a cyber attack which has temporarily disrupted access to the site, a spokesman for the central bank said on Monday.
The spokesman said that the attack has not had any effect on the bank’s services or its communications with the European Central Bank or other institutions and that there was no risk of a data breach.
“It is a denial of service attack that intermittently affects access to our website, but it has had no effect on the normal functioning of the entity,” the spokesman said.
-Nampa/Reuters
'Amazon effect' could have impact on inflation dynamics
More frequent price changes for goods and a rise in the consistency of pricing due to the growth of online retailers may be affecting inflation, according to an academic paper presented on Saturday to some of the world’s top central bankers.
“In the past 10 years online competition has raised both the frequency of price changes and the degree of uniform pricing across locations,” said Alberto Cavallo, an associate professor at Harvard Business School, who analyzed how so-called multi-channel retailers - those with brick-and-mortar and online outlets - such as Walmart Inc have reacted to the rise of Amazon.com Inc.
-Nampa/Reuters
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