Netflix Inc. (NASDAQ: NFLX) will spend as much as $8 billion on content next year, according to The New York Times.
Retailer Nordstrom Inc. (NYSE: JWN) said it has suspended its plans to go private.
Major Boeing Co. (NYSE: BA) rival Airbus took a stake in Bombardier’s troubled jet business. According to Bloomberg:
Airbus SE agreed to acquire a majority stake in Bombardier Inc.’s C Series program and will start assembling the jetliner in the U.S., vaulting a technologically advanced but slow-selling plane onto the front lines of the battle with Boeing Co. over global aircraft sales.
Without putting up a dime at closing, Airbus will take just over half of a partnership controlling the C Series. The European planemaker’s marketing muscle and production expertise boosts the viability of the all-new aircraft after more than $6 billion in development costs forced Bombardier to rely on government assistance.
The deal also thrusts Airbus into the middle of a bitter trade spat between the Canadian manufacturer and Boeing. Following a Boeing complaint that Bombardier sold 75 of its C Series jets to Delta Air Lines Inc. for “absurdly low prices,” President Donald Trump’s administration slapped the aircraft with import duties of 300 percent in recent weeks — roiling U.S. relations with Canada and the U.K., where Bombardier makes the plane’s wings.
Apple Inc. (NASDAQ: AAPL) may buy a new medical company as it pushes further into the health care business. According to CNBC:
Apple has considered an expansion into health care clinics, and had talks to buy a start-up called Crossover Health, which works with big employers to build and run on-site medical clinics, according to three sources familiar.
Crossover Health is one of a small number of companies that specialize in working with self-insured employers to provide medical and wellness services on or near to campus. Among its clients are Apple and Facebook.
Uber board member told a conference that Japan’s Softbank likely will take a position of $10 billion in the ride sharing service.
Facebook Inc. (NASDAQ: FB) bought a company that targets teenagers. According to CNNMoney:
Facebook just nabbed a popular new teen app called tbh.
Teens have been flocking to the app — named after the acronym frequently used in texts, “to be honest” — to participate in anonymous polls and give feedback to friends.
The app creators control the content of the polls, like “Best person to go on a roadtrip with.” It’s a measure that’s meant to keep the sentiments expressed on the app positive, which is something that other anonymous apps have struggled with.
The concept has spread like wildfire amongst teens. The app is designed for people who are 13 and older, and according to the company, over 5 million people have downloaded it in just the past few weeks.