6 Most Important Things in Business Today
October 31, 2017 by Douglas A. McIntyre
The Wall Street Journal reports that Sprint Corp.’s (NYSE: S) largest shareholder, Softbank, has decided against a merger with T-Mobile US Inc. (NASDAQ: TMUS). The combination would have created the largest wireless company in the United States based on the number of subscribers.
The Wall Street Journal reports that Apple Inc. (NASDAQ: AAPL) may make iPhones that do not include components from Qualcomm Inc. (NASDAQ: QCOM). The two companies have been in a bitter intellectual property legal battle for several years.
Sears Holdings Corp. (NASDAQ: SHLD) has eaten through a recent financial lifeline just as the key holiday sales period approaches. According to Bloomberg:
Sears Holdings Corp. drew down the remaining $60 million on a $200 million loan, signaling that the struggling department-store chain is quickly running through cash.
The retailer set up a revised loan on Oct. 4 and borrowed an initial $100 million, according to a filing on Monday. It tapped an additional $40 million on Oct. 18 and then the final $60 million a week later.
The run-up to the holiday season can be a capital-intensive period for retailers, as they amass inventory and ready promotions. Sears announced last week that it was reviving its “wish book” catalog in a bid to build buzz.
Samsung has replaced many of its key leaders. According to CNBC:
Samsung Electronics announced a shakeup of its leadership on Tuesday and said it will maintain its current three co-CEO management structure.
Kinam Kim will replace the company’s Vice Chairman and CEO Oh-Hyun Kwon who earlier this month announced his decision to step down from management. Kim will head the device solutions business.
The heads of several divisions were also replaced.
China’s manufacturing activity fell below expectations in October. PMI was 51.6. Any number above 50 represents expansion. The figure for September was 52.4.
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