The business news thread

[Rewind]

Toys Я Us filed for bankruptcy in September 2017 and announced plans to close 182 stores. If management was smart, they would have filed for bankruptcy after Christmas and not scared away millions of holiday shoppers. Management was not smart -- and the 182 store closures weren't enough.

Toys Я Us plans to close another 200 stores
Retailer’s corporate staff would also suffer layoffs following a disappointing holiday season.

https://www.wsj.com/articles/toys-r-...res-1519254948

[Rewind]

Maybe General Mills will create a new spokesperson for the dog food company. They could call her Betty Cocker Spaniel. (Sorry.)

General Mills to buy natural pet food company Blue Buffalo for $8 billion in cash

http://www.cnbc.com/2018/02/23/gener...h-sources.html

[Rewind]

Dropbox will be listed on NASDAQ with the symbol DBX (which sounds more like a motocross bike).

File-sharing company Dropbox files for $500 million IPO

http://www.bloomberg.com/news/articl...c-offering?utm

[Rewind]

This story from the London Telegraph says the new Samsung phones will sell for £739 and £869. In "Yankee dollars," that is $1,035 and $1,217. How many Americans are willing to pay more than a thousand dollars (plus tax) for a cellphone? Probably a lot fewer than Samsung is hoping for.

Samsung launches Galaxy S9 and S9+
The Telegraph, Feb 25 2018

Samsung today unveiled a smartphone that the Korean giant claims has "reimagined the smartphone camera" as it seeks to respond to Apple’s most recent iPhone. The Galaxy S9, Samsung’s new flagship device, is capable of shooting video in super-slow motion and responding to different light levels. However, the phone boasts few of the major design changes that featured in its predecessor, last year’s Galaxy S8, or Apple’s new iPhone X, leading to questions over whether it is a worthy-enough upgrade to encourage shoppers to shell out £739 for the device. The Galaxy S9+ will cost £869. The new phones will be released on March 16 and will come in Midnight Black, Coral Blue and Lilac Purple.

Global smartphone sales fell at the end of last year for the first time on record and analysts say it is unclear that Samsung’s new devices will be able to breathe new life into the market.

http://www.telegraph.co.uk/technolog...veils-latest1/

[Rewind]

The Weinstein Co. was hurt by reports that Harvey Weinstein sexually assaulted women and paid off several accusers. The Weinstein Co. was hurt by Weinstein's firing on October 8. The Weinstein Co. was hurt by Amazon and other partners cutting ties with the studio. And releasing such bombs as Gold and Burnt and Tulip Fever didn't help either.

Weinstein Co. declares bankruptcy

https://slate.com/news-and-politics/...s-through.html

[Rewind]

Dow Chemical and DuPont merged last year and announced plans to form three publicly traded companies. Today the companies' names were revealed and two of them probably didn't require much thought:

DowDuPont unveils corporate names for its three units: Dow, DuPont, Corteva Agriscience

https://finance.yahoo.com/news/dowdu...161104893.html

[Rewind]

Disney agreed to buy Fox's share of Sky. Then Fox agreed to buy all of Sky. Now Comcast wants to buy Sky but Disney does not want to share Sky ownership with Comcast. This is getting very confusing.

Comcast challenges Murdoch's Fox with $31 billion offer to buy broadcasting group Sky
Rupert Murdoch's Twenty-First Century Fox had already agreed on a deal to buy the 61% of the UK-based broadcasting group it does not currently own.

https://www.cnbc.com/2018/02/27/comc...group-sky.html

[Rewind]

Smart cars, smart TVs, smartphones, smart watches, smart cameras, smart thermostats.....and now we have smart doorbells. What's next? Maybe smart tweezers or smart shoelaces?

Amazon buys smart doorbell maker Ring for $1 billion

https://www.cnbc.com/2018/02/27/amaz...lexa-fund.html

[Rewind]

The founder of Papa John's blamed slumping sales on last year's NFL player protests. It didn't occur to him to start making better pizzas. Doy!

Pizza Hut replaces Papa John's as NFL corporate sponsor

http://www.cbsnews.com/news/pizza-hu...s-nfl-sponsor/

[Rewind]

Spotify launched in October 2008 in Stockholm and is the world's biggest music-and-video streaming service. Spotify will be listed on the NYSE.

Spotify files for IPO of up to $1 billion
Reuters, Feb 28 2018 2:50 PM

Music streaming service Spotify today filed for a direct listing of up to $1 billion with the US Securities & Exchange Commission, becoming the first major company in the recent past to do so. A direct listing is an unconventional way to pursue an IPO and will help Spotify list without the need to raise new capital or hire a Wall Street bank or broker to underwrite the offering.

https://www.aol.com/article/finance/...lion/23373621/