Tag: deal

This Deal Helped Turn Google Into an Ad Powerhouse. Is That a Problem?

Google owns the world’s leading search engine, it operates the largest video-hosting service in YouTube, and its popular web browser, email, map and meeting software is used by billions of people.

But its financial heft — the source of nearly all its enormous profits — is advertising. And perhaps no day was more pivotal in transforming Google into a powerhouse across the entire digital advertising industry than April 13, 2007, when the company clinched a deal to buy DoubleClick for $3.1 billion.

The deal turned out to be “a total game changer, a crucial piece in the larger jigsaw puzzle Google put together,” said Timothy Armstrong, a former Google executive who championed the acquisition.

It has also turned out to be a classic example of why a growing number of antitrust experts say lawmakers need to broadly rethink how mergers are regulated when the buyer is a tech company with

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US postpones TikTok ban after Trump gives his ‘blessing’ to Oracle deal

  • The US is officially postponing the ban on TikTok downloads it said would come into force on Sunday.
  • Secretary of Commerce Wilbur Ross said in a statement Saturday that “recent positive developments” meant the deadline for the ban has now been moved to 11:59 p.m. on September 27.
  • It came the same day Trump told reporters he had given his “blessing” to a deal between TikTok and Oracle.
  • Visit Business Insider’s homepage for more stories.

The ban on TikTok downloads is officially on hold for a week.

US Secretary of Commerce Wilbur Ross confirmed the postponement of the ban in a statement on Saturday. 

“In light of recent positive developments, Secretary of Commerce Wilbur Ross, at the direction of President Trump, will delay the prohibition of identified transactions pursuant to Executive Order 13942, related to the TikTok mobile application that would have been effective on Sunday, September 20, 2020, until

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TikTok Confirms Proposed Deal With Oracle, Walmart For US Business

TikTok says Oracle to be tech provider, Walmart to be commercial partner. (File)

Washington:

Popular video app TikTok announced Saturday it has proposed an agreement with Oracle as its US technology provider and Walmart as a commercial partner, a potential deal US President Donald Trump touted as “fantastic.”

“We are pleased that the proposal by TikTok, Oracle, and Walmart will resolve the security concerns of the US Administration and settle questions around TikTok’s future in the US,” a spokeswoman for TikTok, owned by China’s ByteDance, told AFP.

Oracle will become the “trusted technology provider, responsible for hosting all US user data and securing associated computer systems to ensure US national security requirements are fully satisfied,” the spokeswoman said. “We are currently working with Walmart on a commercial partnership as well.”

She gave few further details about the deal, other than saying that the companies will “maintain and expand” TikTok’s global

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DraftKings: ESPN Deal Opens Up A New Era For Online Sports Betting (NASDAQ:DKNG)

DraftKings (NASDAQ:DKNG) is one of the main online sports gambling companies with a lot of growth prospects in the future.

The company went public on April 24th, 2020, using the popular SPAC strategy when it merged with Diamond Eagle Acquisition Corporation at an IPO price of $19.

(Source: BizJournals)

Since then, many developments took place, and DKNG stock is on a tear.

I’m going to discuss the main bullish catalysts and present my current valuation and long-term price target for DraftKings stock.

I’ll also discuss both positive as well as risk factors that could affect the stock price in the short term.

As with most new IPOs, we must use forward-thinking with an unbiased mindset that embraces change.

What’s important for the future of DraftKings is what will happen in the future, not the past.

As Warren Buffett once said:

If past history is all there was to the game,

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Deal between big business and Australian unions sparks fury from employer groups



Christian Porter wearing a suit and tie smiling and looking at the camera: Four employer groups will tell Christian Porter the deal is discriminatory against non-union workers and their employers, infringes on freedom of association and creates pressure on employers to strike union agreements.


© Photograph: Mike Bowers/The Guardian
Four employer groups will tell Christian Porter the deal is discriminatory against non-union workers and their employers, infringes on freedom of association and creates pressure on employers to strike union agreements.

Big business and unions have struck a deal to prioritise union agreements in Australia’s workplace system, provoking an angry reaction from some employer groups.

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A coalition of four employer groups will write to the attorney general, Christian Porter, warning him not to accept the deal struck between the Business Council of Australia and Australian Council of Trade Unions, in a major setback for plans to produce a consensus position on reform.

In June, the Morrison government set up five industrial relations roundtables to identify job creating reforms, promising to ditch union-busting legislation as a sign of good faith before the talks.

On Thursday, the Australian Financial Review first reported, and Guardian Australia

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TikTok Accepts Deal Revisions as Trump Prepares to Review Proposal

WASHINGTON — The Chinese company that owns TikTok has accepted the Trump administration’s changes to a deal designed to mitigate the White House’s concerns that the popular app poses a national security threat, two people with knowledge of the talks said.

The Treasury Department, which leads a group reviewing the deal for national security purposes, provided TikTok’s owner, ByteDance, with revisions to its proposal on Wednesday, one of the people said. Some of the revisions were intended to address how TikTok’s data and source code would be handled and secured, one of the people said. The two sides have agreed in principle, but are still discussing some technical details, the other person said.

The exact ownership structure of TikTok under the proposed deal is unclear. President Trump and some members of his administration have said ByteDance cannot retain a majority stake in TikTok if their concerns are to be satisfied.

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This Dirt-Cheap Grocery Stock Just Got a Sweet Deal on Its Own Shares

Investors might not be very familiar with the stock of Albertson’s (NYSE:ACI). Although the grocery store chain is 81 years young, it only recently became a public company after its initial public offering in June. But for defensive investors looking for pandemic-proof stocks, grocery stores in general and Albertsons in particular may be worth a look.

Its stock is cheaper than rival Kroger (NYSE:KR), but like Kroger, Albertson’s is also posting blockbuster sales and profits during the pandemic. Yet shares trade about 15% below its June IPO price of $16, which was below the $18 to $20 range the company had hoped for.

Albertson’s was also given a gift recently, as it was able to buy back a significant amount of shares below its already-discounted price.

A shopper in a mask inspects a product in a grocery store.

Grocery stores have posted bumper results amid the pandemic. Image source: Getty Images.

A forced sale is music to shareholders’ ears

On

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Top European firms back Green Deal, pledge business overhaul

FILE PHOTO: Power-generating windmill turbines are seen at a wind park in Flesquieres near Cambrai, France March 3, 2020. REUTERS/Pascal Rossignol/File Photo

LONDON (Reuters) – Executives from 30 of Europe’s leading companies backed the EU’s Green Deal on Wednesday and pledged to overhaul their businesses to help the bloc achieve climate-neutrality by 2050.

The commitment, from companies including Deutsche Bank, Axa, Snam and Royal DSM, came ahead of European Commission President Ursula von der Leyen’s State of the Union address in Brussels.

The European Green Deal forms a key plank of von der Leyen’s plan for the EU to both recover from the economic ravages of the COVID-19 pandemic and meet the goals of the Paris climate agreement, which aims to limit global warming.

The company leaders are all part of a CEO Action Group for the European Green Deal, launched last year in cooperation with the World Economic Forum

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California wildfires could deal second punch to struggling small businesses

Michael Volpatt already knew what art, medicine and clothes he needed to take when he got an alert to evacuate his home west of Guerneville in Sonoma County ahead of the massive LNU Complex Fire. But there was one more decision to make — should he go to his store, Big Bottom Market, and try to prepare it for what could be a weeks-long evacuation?



a clock tower in the store: GUERNEVILLE, CA - AUGUST 31: A view of River Road is seen under smoky skies in downtown Guerneville, Calif., on Monday, Aug. 31, 2020. Residents recently returned after being evacuated for the nearby LNU Lightning Complex Fire. (Jane Tyska/Bay Area News Group)


© Provided by Mercury News
GUERNEVILLE, CA – AUGUST 31: A view of River Road is seen under smoky skies in downtown Guerneville, Calif., on Monday, Aug. 31, 2020. Residents recently returned after being evacuated for the nearby LNU Lightning Complex Fire. (Jane Tyska/Bay Area News Group)

“It’s a big decision to have to make because you don’t know what’s going to happen,” he said. “Is your building going to burn down? Is it going to matter? Is the electricity going to go out and

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Kraft Heinz announces deal to sell its natural cheese business

Dee-Ann Durbin, Associated Press
Published 4:06 p.m. MT Sept. 15, 2020

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Kraft Heinz said Tuesday that it is selling its natural cheese business – including its Cracker Barrel and Breakstone’s brands – to French dairy company Lactalis Group as part of a larger restructuring.

The $3.2 billion sale includes Kraft Heinz production facilities in Tulare, California; Walton, New York; and Wausau, Wisconsin. About 750 employees at those plants will transfer to Lactalis Group.

Kraft Heinz, however, will keep its Philadelphia cream cheese brand, Kraft singles and the Velveeta and Cheez Whiz brands. It’s also retaining its macaroni and cheese business.

Included in the sale are Kraft Heinz’s natural, grated, cultured and specialty cheese businesses in the U.S., its grated cheese business in Canada and its entire international cheese business. Kraft Heinz already sold its natural cheese business in Canada last year for $1.2 billion.

Save better, spend better:  Money

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