Rolling Stone, one of the original counter-culture media outlets, will be sold after a half-century of ownership by founder Jann Wenner, according to The New York Times
The Senate wants more information about how Facebook Inc. (NYSE: FB) was used by Russian interests during the presidential election, according to the Financial Times.
Messaging app Slack has raised money from a group that includes Softbank. The financing puts the value of the company at $5 billion.
India may become among the most important economies in the world based on GDP growth. According to Bloomberg:
India is poised to emerge as an economic superpower, driven in part by its young population, while China and the Asian Tigers age rapidly, according to Deloitte LLP.
The number of people aged 65 and over in Asia will climb from 365 million today to more than half a billion in 2027, accounting for 60 percent of that age group globally by 2030, Deloitte said in a report Monday. In contrast, India will drive the third great wave of Asia’s growth – following Japan and China — with a potential workforce set to climb from 885 million to 1.08 billion people in the next 20 years and hold above that for half a century.
“India will account for more than half of the increase in Asia’s workforce in the coming decade, but this isn’t just a story of more workers: these new workers will be much better trained and educated than the existing Indian workforce,’’ said Anis Chakravarty, economist at Deloitte India. “There will be rising economic potential coming alongside that, thanks to an increased share of women in the workforce, as well as an increased ability and interest in working for longer. The consequences for businesses are huge.’’
Reuters reports that Northrup Grumman Corp. (NYSE: NOC) may buy Orbital, an aerospace and defense firm, which would sharply increase the footprint of the larger company in these sectors in which it is already a dominant force. The price could be as high as $7.5 billion.
Snap Inc. (NYSE: SNAP) said its Snapchat service will ban news service Al Jazeera Discover Publisher Channel, according to CNBC:
Al Jazeera is a state funded media company from Qatar. Saudi Arabia led a group of other nations in the region to cut ties with Doha earlier this year, and one of the specific complaints about Qatar from those countries has been its use of Al Jazeera.