Daily business news in the Great State of New York!
There is light at the end of the tunnel for dealing with the Covid-19 pandemic. Pfizer has begun distributing its vaccine to combat the virus around the country mafter receiving emergency authorization approval from the FDA on Friday. Pfizer developed the vaccine in collaboration with BioNTech in Germany. Under Operation Warp Speed, the Department of […]
NEW YORK – Discovery, Inc., which operates cable networks Discovery Channel, HGTV, Food Network and Travel Network, is joining the streaming media wars with the global launch of discovery+, debuting in the U.S. next month on January 4, 2021. discovery+ will be available in the U.S. starting at $4.99 per month, with an ad-free version available […]
NEW YORK — NBC and TIME Studios are partnering for the first-ever “TIME Person of the Year” special featuring exclusive coverage of TIME magazine’s choice for the individual or group that has had the greatest influence on the events of the year, set for Thursday, Dec. 10 at 10 p.m. In addition to the winner of 2020 […]
NEW YORK — ViacomCBS Inc. is selling its publishing business Simon & Schuster to Penguin Random House, a wholly owned subsidiary of Bertelsmann SE & Co. KGaA, for $2.175 billion in cash. The sale is part of ViacomCBS’ strategy to unload core assets and focus on its TV networks and film business following the merger […]
Amazon, the leading online retailer, announced it will pay more than $500 million to front-line employees this holiday season. U.S. Operations employees who work at the company from December 1 to December 31 will qualify for a bonus of $300 for full-time employees and $150 for part-time employees. Combined with other holiday pay incentives, in […]
NEW YORK — Investment banking firm Goldman Sachs has named 60 employees to become partners effective January 1, 2021. Partners at Goldman Sachs are among the prestigious positions on Wall Street and come with a big boost in pay. The Partner Class of 2020 have more than 850 years of combined experience at Goldman Sachs, […]
NEW YORK — Virginia-based Mars, Incorporated, a family-owned global pet food, veterinary care, confectionery, snacking and food business, has agreed to purchase NY-based KIND, a maker of healthy snack bars. Terms of the deal weren’t announced but the NY Times says the purchase valued KIND at about $5 billion. Mars already has a stake in […]
NEW YORK – Peloton, known for its pricey exercise bikes and treadmills, has signed a deal with music superstar Beyoncé (photo above) to promote its products. The company announced a broad, multi-year partnership rooted in the celebration of music — a central component of the Peloton class experience — and pro-social initiatives. The launch of […]
Lowe’s Companies, which operates the nation’s second-largest home improvement chain with 2,200 stores, said it will hire 20,000 workers across its U.S. stores and regional distribution centers to support customer demand this holiday season and beyond. The announcement comes as the company commits another $100 million in bonuses to thank front-line hourly associates and support […]
WOONSOCKET, RI — CVS Health, which operates one of the largest drug store chains in the country, announced that it is recruiting to fill 15,000 jobs over the next month. These new and existing positions will help the company continue to respond to the needs of communities across the country during the fall and winter months […]
NEW YORK — FORTUNE magazine has released the 2020 edition of its Most Powerful Women in Business list, which includes 16 FORTUNE 500 CEOs, and the return of Jane Fraser, who in February 2021 will become the first woman to head a major U.S. bank. Top honors go to Accenture CEO Julie Sweet for the first time. Jane Fraser is featured […]
NEW YORK — Bristol Myers Squibb has agreed to buy MyoKardia, a pharmaceutical company based in Brisbane, CA. Bristol Myers Squibb will pay $13.1 billion, or $225.00 per share in cash. Shares in MyoKardia soared $80.74 after the news to close at $220.34 Monday — a 57% increase. Bristol Myers shares went up just 0.51 […]
NEW YORK — Private equity firm KKR has agreed to buy 1-800 Contacts, the largest retailer of contact lenses in the U.S., from AEA Investors. Terms of the deal weren’t announced. AEA Investors purchased 1-800-Contacts in 2016. Over the last several years, the company has made significant investments in technology and expanding its offerings, including […]
Infosys, a provider of IT services based in India, said it plans to hire 12,000 American workers over the next two years, bringing its hiring commitment in the U.S. to 25,000 over five years. In 2017, Infosys committed to hiring 10,000 American workers over two years and has exceeded that goal by creating 13,000 jobs […]
Swyft, Inc., a leading maker of high-tech vending machines, has partnered with the Metropolitan Transportation Authority (MTA), to launch Simply PPE (Personal Protective Equipment) automated retail stores, in ten NY subway stations including 42nd & 8th St. Port Authority Station, 34th and Herald Square Station, Atlantic Ave Barclays Center, and Roosevelt Ave & 74th St. […]