Category: business

“After more than two years of negotiations, we are extremely disappointed … We remain committed to growing our presence in this vibrant and fast-growing market,” it added. While neither Sony nor Zee elaborated on Monday on which conditions had been unfulfilled, a stalemate over who will lead the combined company had put the merger in danger. Zee had proposed that CEO Punit Goenka take the helm, but Sony balked after he became the subject of an investigation by India’s market regulator. Zee said on Monday Goenka had been “agreeable to step down in the interest of the merger.” A source with direct knowledge however said Sony was not keen to proceed unless Goenka backed out before the closure of the merger, rather than after the deal had been sealed as he had proposed.

Sandberg left the company she helped build as an executive in September 2022 after 14 years. She remained on Meta’s board following her departure, a seat she held for the past 12 years. In announcing her departure, Sandberg said she aimed to focus on more philanthropic work. In the time since leaving the company as an executive, she has focused more her time on her women’s leadership philanthropy, Lean In. More recently, Sandberg has also focused on the conversation around rape and sexual violence as a weapon of war, particularly as it pertains to the Israel-Hamas conflict. Axios notes that Meta’s revenue “grew 43,000% from $272 million in 2008 to nearly $118 billion in 2021” under Sandberg’s business leadership.

What it didn’t say, however, was that the company had been aware of the security flaw for two years without fixing it. That information was discovered by the Federal Trade Commission, after Uber’s acquisition of Drizly, and led to an FTC order that restricted the types of customer information that Drizly could collect and retain. “After three years of Drizly operating independently within the Uber family, we’ve decided to close the business and focus on our core Uber Eats strategy of helping consumers get almost anything — from food to groceries to alcohol — all on a single app,” said Pierre-Dimitri Gore-Coty, Uber’s SVP of delivery. “We’re grateful to the Drizly team for their many contributions to the growth of the BevAlc delivery category as the original industry pioneer.”

Founded in 1996, Juniper spent many years chasing Cisco in the market for networking gear. Revenue grew 12% year over year in 2022, the fastest growth since 2010. In the most recent quarter, Juniper eked out a $76 million profit on $1.4 billion in revenue, which declined 1%. HPE’s networking segment was the company’s top source of earnings before taxes, at $401 million on $1.4 billion in revenue, which was up 41%. Coming together would lead to $450 million in annual cost savings within three years of the deal’s completion, HPE said.

In the final months of 2023, several top executives announced their departures, including Twitch’s chief product officer, chief customer officer and chief content officer. Twitch also lost its chief revenue officer, who worked on Twitch from within Amazon’s Ads unit. “It’s always bittersweet when talented leaders move on to pursue new opportunities,'” a Twitch spokesperson said at the time. “We are incredibly grateful for their contributions to Twitch and our community, and wish them all the best.”

Apple said that it doesn’t steal technology and that it respects the intellectual property of other companies. It said Masimo and other companies cited in this article are copying Apple, and that it would fight the claims in court. Apple has tried to invalidate hundreds of patents owned by companies that have accused Apple of violating their patents. According to lawyers and executives at some smaller companies, Apple sometimes files multiple petitions on a single patent claim and attempts to invalidate patents unrelated to the initial dispute. Many large companies, particularly in tech, have been known to scoop up employees and technology from smaller potential rivals. Software developers have given a name to what they describe as Apple’s behavior in such cases: sherlocking. The term refers to an episode about two decades ago, when Apple released a software product called “Sherlock” that helped users find files on its Mac computers and perform internet searches.

“Paying for these spent batteries keeps them from going into the landfill,” O’Kronley told Canary Media. “It’s better to get paid for it rather than throw them away.” Ascend also accepts used consumer electronics from battery-collection programs, such as Call2Recycle. That’s not to say there are enough old batteries coming in to fill the factory. Currently, 80 to 90 percent of what’s going into Ascend’s Covington facility is scrap materials from battery factories, including SK Battery America’s plant in Commerce, Georgia.

That relationship influenced Ascend’s choice of location: Covington sits in the emerging “Battery Belt,” a swath of new battery factories and electric-vehicle plants opening up across the Midwest and the Carolinas, Georgia, Tennessee and Kentucky (look for all the blue icons in this White House map of new industrial investments). Fellow battery-recycling startup Redwood Materials also chose South Carolina for a forthcoming $3.5 billion recycling facility. “There will need to be a recycling plant within about an hour’s drive of every single one of those [new battery gigafactories],” O’Kronley said. “You don’t want to be [long-distance] shipping these very large, heavy EV batteries that are classified as Class 9 hazardous materials.” The report notes that the company’s second commercial-scale facility in Hopkinsville, Kentucky will “introduce a brand-new technique for efficiently extracting cathode materials from black mass, which Ascend has dubbed ‘hydro to cathode.'”

More specifically, one area where Walmart is seeking to increase investment is in market fulfillment centers (MFCs), which are automated fulfillment centers built within, or added to, a store. Walmart piloted this concept at a store in Salem, New Jersey, in 2019, using automated robot technology from Alert Innovation — a robotics company Walmart acquired in October 2022. Since then, Walmart has built MFCs at several stores, such as in Jacksonville, Florida, and Dallas, Texas. Those include “manual MFCs,” where associates pick items for online orders but in a separate area from the sales floor.

Walmart will still need at least the same level of workers to help in stores even as automation picks up, company leaders say. John Furner, Walmart US president and CEO, told investors this week that automation “helps” employees, as it will result in less manual labor. “Over time, we believe we’ll have the same or more associates and a larger business overall,” Furner said. “There will be new roles emerging that are less manual, better designed to serve customers, and pay more.”