Retail Sector

Royal Philips NV Cancels Planned Sale of Lumileds on Grounds of U.S. Security Opposition

Royal Philips NV Cancels Planned Sale of Lumileds on Grounds of U.S. Security OppositionOn Friday, Royal Philips NV announced cancellation of a planned $2.8 billion sale deal of its lighting component business to a Chinese buyer. The decision followed rejection of the deal by the Committee on Foreign Investment in the U. S. grounds of on national-security.

Just a few weeks earlier the U. S. Justice Department worried about competition rejected another European deal.

Drones will Deliver Packages within Thirty Minutes of Placing an Order says Amazon Executive

Drones will Deliver Packages within Thirty Minutes of Placing an Order says Amazon ExecutiveAmazon has hit the headlines for a while with its goal of delivering packages by drone someda

Adidas Announces Kasper Rorsted as Next CEO Replacing Herbert Hainer

Adidas Announces Kasper Rorsted as Next CEO Replacing Herbert HainerOn Monday, German multinational shoe and sports gear company, Adidas AG said that Kasper Rorsted, the present head of Henkel will be its next chief executive. The company said he will take over the post on October 1 from its current CEO, Herbert Hainer.

Promotional Stunts in a Town in Michigan Send Gas Price Down to Less Than 50 Cents a Gallon

Promotional Stunts in a Town in Michigan Send Gas Price Down to Less Than 50 Cents a Gallon A competition among gas stations in one of the towns in Michigan pulled gas prices to lower than $1.

Two Wal-Mart Locations in Los Angeles to Shutter on Sunday

Wal-MartOn Friday in an announcement, Wal-Mart announced that it will close 269 locations globally. Out of the seven stores scheduled for closure in Southern California, two will be shuttered on Sunday.

The other five Wal-Marts to be closed in Southern California are the ones located in downtown Long Beach, Bell Gardens, Hawaiian Gardens, Altadena and San Bernardino. They will close their doors for the last time on January 28.

New Moves by Amazon Aimed at Expanding Logistics Reach into Ocean Shipping

New Moves by Amazon Aimed at Expanding Logistics Reach into Ocean ShippingAmazon is well known for making new moves. After trying options in trucking and air freight, now the company seems to be turning its focus towards the sea.

Reportedly Amazon China, the Chinese affiliate, of the e-commerce company has registered with the U. S. Federal Maritime Commission to turn into a licensed ocean freight forwarder.

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