Friday, January 28

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Kohl’s Gets $9 Billion Bid From Starboard Group
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Kohl’s Gets $9 Billion Bid From Starboard Group

Source: Kohl’s Gets $9 Billion Bid From Starboard Group Discovered on: 2022-01-22 02:06:00 A consortium backed by activist hedge fund Starboard Value LP has offered roughly $9 billion to buy department store Kohl’s Corp. KSS -2.60% , according to people familiar with the matter. A group led by Acacia Research Corp., which Starboard controls, offered to buy the department-store chain for $64 a share in cash Friday, the people said. It told the company it has received assurances from bankers that it will be able to get financing for the bid, the people said. There are no guarantees the group will ultimately line up all the funding needed and make a firm offer, or that Kohl’s will be recepti...
How a Small Town Learned to Stop Worrying and Love Amazon
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How a Small Town Learned to Stop Worrying and Love Amazon

Source: How a Small Town Learned to Stop Worrying and Love Amazon Discovered on: 2022-01-22 00:45:00 DARLINGTON, England—Many retailers in this old market town have long held Amazon. AMZN -5.95% com Inc. partially to blame for the closures of a raft of local shops in recent years.Then, Amazon opened a warehouse here. The facility, which opened in early 2020, employs 1,300 full-time staff, making it one of the town’s biggest employers. It hired 500 additional seasonal workers during the end-of-year holidays. Wages start at £10 (equivalent to $13.25) an hour, above the legal minimum, and benefits include private healthcare and an £8,000 education allowance available in installments over four years. The new jobs have all del...
China Says Local Officials Underreported Deaths in Flooding
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China Says Local Officials Underreported Deaths in Flooding

Source: China Says Local Officials Underreported Deaths in Flooding Discovered on: 2022-01-21 19:18:00 Chinese officials intentionally underreported the number of people who died or went missing in severe flooding in Henan province in July, China’s central government said, a rare acknowledgment of officials concealing the true death toll in a disaster.Local officials in Henan either concealed or delayed the recording of more than 100 cases of people who died or went missing, with some officials “intentionally obstructing” the reports, the State Council, China’s highest government body, said in a statement posted on the main government website late Friday. It said a number of officials would face disciplinary consequences. According to Friday’s report, 398 people either have been confirme...
Netflix sinks as Wall Street flees ‘stay-at-home’ stocks
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Netflix sinks as Wall Street flees ‘stay-at-home’ stocks

Source: Netflix sinks as Wall Street flees 'stay-at-home' stocks Discovered on: 2022-01-21 21:59:00 Shares of Netflix sank more than 20 percent as investors recalculate valuations on companies that soared on torrid growth earlier in the pandemic. — © AFPThomas URBAINOne day after shares of at-home fitness company Peloton tumbled, Netflix found itself in Wall Street’s hot seat Friday as markets reassess the diminishing growth prospects of so-called “pandemic stocks.” The streaming video service lost some $40 billion in market capitalization after releasing results Thursday night that projected growth of just 2.5 million subscribers in the first quarter, its slowest expansion since 2010 and a big downshift from the 55 million subscribers over the last two years as Covid-19 transformed dai...
IBM Sells Watson Health Assets to Investment Firm
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IBM Sells Watson Health Assets to Investment Firm

Source: IBM Sells Watson Health Assets to Investment Firm Discovered on: 2022-01-21 21:46:00 International Business Machines Corp. agreed to sell the data and analytics assets from its Watson Health business to investment firm Francisco Partners, the companies said Friday. The deal is the latest step by IBM to refocus its core business around the cloud. The Wall Street Journal reported last year that IBM was exploring a sale of its healthcare-analytics business as a way to streamline the computing giant’s operations and sharpen its focus on computing services provided via the internet. The Watson Health business uses artificial intelligence to analyze diagnostic tests and other health data and to manage care.
Netflix Plunge Deepens Nasdaq’s Correction
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Netflix Plunge Deepens Nasdaq’s Correction

Source: Netflix Plunge Deepens Nasdaq’s Correction Discovered on: 2022-01-21 20:31:00 Plunging shares of Netflix Inc. NFLX -21.79% and other streamers dragged the Nasdaq Composite Index deeper into correction territory Friday, as a selloff in government bonds and lackluster earnings have eroded demand for the once-highflying tech trade.The technology-heavy index was down 2% Friday after oscillating around the flatline earlier in the session. The losses extended the Nasdaq’s fall from its Nov. 19 record to 13%. Treasury yields remained high despite a break in the selling on Friday, leaving the 10-year U.S. Treasury bond at 1.755%, up about 26 basis points so far this month. Netflix shares were recently off 23% after the company late Thur...
Airbus Cancels Qatar Airways Plane Contract, a Rare Move Amid Growing …
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Airbus Cancels Qatar Airways Plane Contract, a Rare Move Amid Growing …

Source: Airbus Cancels Qatar Airways Plane Contract, a Rare Move Amid Growing ... Discovered on: 2022-01-21 19:42:00 LONDON— Airbus SE EADSY -1.57% scrapped a $6 billion jet contract with Qatar Airways Ltd., part of an escalating legal battle between the two over paint. The move is unusual for Airbus, which alongside Boeing Co. , strives hard to keep contracts with airline customers alive. Airbus, in particular, has sought through the pandemic to enforce sales contracts with carriers and other jet buyers, many of whom have sought to back out of deals amid a Covid-19-related travel bust. The cancellation is the latest move in a monthslong fight between Airbus, ...
Islamic State Kills Sleeping Iraqi Soldiers, Attacks Syrian Prison
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Islamic State Kills Sleeping Iraqi Soldiers, Attacks Syrian Prison

Source: Islamic State Kills Sleeping Iraqi Soldiers, Attacks Syrian Prison Discovered on: 2022-01-21 17:26:00 Islamic State militants killed 11 Iraqi soldiers sleeping in their camp while dozens died after its fighters launched a prison break attempt in Syria, indicating how the extremist group remains a potent threat despite its territorial defeat in the region.The attacks late Thursday and early Friday resulted in the worst day of Islamic State-related violence in a year and demonstrated the group’s enduring reach as an insurgency that operates in secret while carrying out deadly shootings and bombings. Islamic State, which once seized control of huge swaths of Syria and Iraq and launched a global campaign of violent attacks, lost control of its territory in 2019 under assault from Ira...
Intel reveals plans for new $20 billion chip manufacturing factory in …
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Intel reveals plans for new $20 billion chip manufacturing factory in …

Source: Intel reveals plans for new $20 billion chip manufacturing factory in ... Discovered on: 2022-01-21 17:15:00 Intel’s newest factory, Fab 42, became fully operational in 2020 on the company’s Ocotillo campus in Chandler, Arizona. Fab 42 produces microprocessors using the company’s 10nm manufacturing processes. Source - Intel As part of an effort to regain its position as a leading maker of semiconductors amidst a global chip shortage, Intel is committing $20 billion to build a manufacturing mega-site in New Albany, on the outskirts of Columbus, Ohio. The chip maker confirmed to TIME that it will build at least two semiconductor fabrication plants, or fabs, on the 1,000-acre site, where Intel will research, develop, and manufacture its most cutting-edge computer chips, employing a...
Democrats Push to Revive $250 Billion Tech Investment Bill to Counter …
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Democrats Push to Revive $250 Billion Tech Investment Bill to Counter …

Source: Democrats Push to Revive $250 Billion Tech Investment Bill to Counter ... Discovered on: 2022-01-21 16:14:00 WASHINGTON—A $250 billion spending initiative to boost U.S. investment in high-tech research and manufacturing has stalled in the House, despite lawmakers’ increasing concerns over global competitiveness.The Senate passed its version—dubbed the U.S. Innovation and Competition Act—last year with bipartisan supporters, saying the U.S. needs to make big investments in science and technology to meet the challenge posed by China and other global rivals. The Senate bill includes about $52 billion for encouraging more semiconductor production in the U.S.. That provision could benefit plans announced by Intel Corp. on Friday to invest in two new chip ...