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Showing posts with label 2017 at 12:24AM. Show all posts
Showing posts with label 2017 at 12:24AM. Show all posts

Thursday, July 6, 2017

Xiaomi and Nokia’s new multi-year deal could bring AR and VR tech to all

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mashable.com
– Molly Sequin
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Smartphone news is typically dominated by Apple and Android, but today we got a taste of something different. Chinese smartphone maker Xiaomi and Finnish network equipment supplier Nokia are elbowing their way back into the conversation with a brand new patent-sharing deal.  SEE ALSO: The Nokia 3310 is no match for Glastonbury festival The deal includes a new business collaboration and patent agreement that gives each company cross-licensing privileges to the other company’s cellular standard p.  show all text
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Wednesday, June 14, 2017

Here’s the email Sears’ CEO just sent to the company announcing layoffs (SHLD)

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sears worker

Sears said Tuesday it’s cutting 400 jobs at corporate offices as it works towards a goal of reducing costs by $1.25 billion in fiscal 2017. 

The cuts will primarily affect workers at Sears’ headquarters in Hoffman Estates, Illinois.

In an email to corporate employees on Tuesday, Sears CEO Eddie Lampert said the company is parting with three senior executives as a result of the cuts, including Stephan H. Zoll, president of online; David Pastrana, president of apparel; and Eric Jaffe, senior vice president of Shop Your Way.

The move comes one week after the retailer revealed it was closing 65 more Sears and Kmart stores, in addition to the 180 closures announced earlier this year. 

Sears has also been eliminating store-level positions this year, as well as slashing hours for its part-time workers.

“We are making progress with the fundamental restructuring of our operations that we initiated in February,” Lampert said in a statement Tuesday. “We remain focused on realigning our business model in an evolving and highly competitive retail environment. This requires us to optimize our store footprint and operate as a leaner and simpler organization.”

The company said it has achieved $1 billion in cost cuts so far this year and is on track to meet its goal of $1.25 billion in savings by the end of the year.

Lampert announced the layoffs to corporate employees on Tuesday with the following email:

“As you are aware, in February we initiated a strategic restructuring effort to become a more agile and competitive retailer with a clear path toward profitability. As part of our efforts to simplify our organizational structure, today, we are announcing the difficult decision to eliminate approximately 400 full-time positions at our corporate offices and support functions, in addition to certain positions related to our field operations. Accordingly, the following members of the executive leadership team will be departing the company after a brief transition and we wish them well for the future:

• Stephan H. Zoll, President of Online;

• David Pastrana, President of Apparel; and

• Eric Jaffe, Senior Vice President of Shop Your Way

We highly value the support of all our associates and sincerely thank you for your contributions toward our goals. We are deeply committed to treating those impacted by today’s announcement with the utmost dignity and respect and helping them as they manage their career transition. We will be providing compensation severance and transition assistance for those who are eligible. You should know that the company first eliminated open positions and reduced contract employees in order to minimize the impact on full-time employees.

These organizational changes are in addition to the store closures we initiated last week as we continue to right-size our store footprint and inventory needs in preparation for the upcoming holiday season. Together, these restructuring actions will bring us very close to our goal of achieving $1.25 billion in cost savings by the end of the fiscal year – one of the critical steps we are taking to improve our operational performance.

While we will continue to take all necessary steps to return to profitability, we want to emphasize that our integrated retail strategy will remain driven in part by our brick-and-mortar locations and the hard work of our dedicated associates. To be clear, our company is continuing to fight to become a more competitive and agile retailer. If we keep working toward our transformation goal together, we believe we will return our company to long-term profitability while providing real value to our members.

As a leadership team, we are highly aware that it’s difficult to see friends and co-workers leave the company, but we truly believe these difficult steps will help align our cost structure with the size of the company today.

I want to thank all of you for your continued commitment to improving the performance of our company. We will continue to be open and transparent about our restructuring actions and welcome all questions or feedback from you.”

Do you work at Sears or Kmart and have a story to tell? Email this reporter at hpeterson@businessinsider.com

SEE ALSO: Sears is suing another tool vendor it says is cancelling its contract after 50 years

Join the conversation about this story »

NOW WATCH: 7 colors that might get you sued

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June 14, 2017 at 12:23AM

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from Hayley Peterson

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A cryptocurrency for weed is soaring in value after it sponsored Dennis Rodman’s trip to North Korea

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Potcoin

A digital currency for the legal marijuana industry is soaring after it sponsored Dennis Rodman’s trip to North Korea. 

Potcoin is a digital cryptocurrency — much like bitcoin — that was specifically developed to remove the need for cash transactions between marijuana consumers and dispensaries.

If Potcoin was going for publicity, it certainly paid off: Potcoin’s value soared almost 97% to over 18 US cents on Tuesday. 

Marijuana is illegal under federal law, so the majority of banks won’t take cash or open lines of credit for marijuana businesses. 

Rodman was photographed wearing a Potcoin T-shirt as he arrived in North Korea. 

 

 

SEE ALSO: Dennis Rodman’s trip to North Korea is sponsored by Potcoin, a digital currency for weed

Join the conversation about this story »

NOW WATCH: An economist explains the key issues that Trump needs to address to boost the economy

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June 14, 2017 at 12:23AM

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from Jeremy Berke

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Trump’s Treasury Secretary says ‘talking about impeaching the president is the biggest waste of time’

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Trump's Treasury Secretary says 'talking about impeaching the president is the biggest waste of time'Treasury Secretary Steven Mnuchin thinks anyone talking about a possible Trump impeachment isn’t…

June 14, 2017 at 12:18AM

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What to Expect in the Federal Reserve’s Interest Rate Announcement Wednesday

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What to Expect in the Federal Reserve's Interest Rate Announcement WednesdayWhat to Expect in the Federal Reserve’s Interest Rate Announcement Wednesday

June 14, 2017 at 12:18AM

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Financial services and banking news update – 9 June 2017 – Lexology (registration)

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Financial services and banking news update – 9 June 2017
Lexology (registration)
… on the proposed Regulation amending the Capital Requirements Regulation (CRR) as regards the transitional period for mitigating the impact on own funds of the introduction of International Financial Reporting Standard 9 (IFRS 9) and the large …

June 14, 2017 at 12:14AM

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Charlie Helps FRSA retweeted: Netflix shareholder approve proposals on proxy access, annual director elections http://ift.tt/2sx4DVL #ESG #CorpGov

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Amy Resnick
@AmyResnick

Charlie Helps FRSA retweeted:

Netflix shareholder approve proposals on proxy access, annual director elections http://ift.tt/2sx4DVL #ESG #CorpGov

June 14, 2017 at 12:10AM

https://twitter.com/HelpsCharlie/status/874705362053734405

from Charlie Helps FRSA


Monday, June 12, 2017

1 winning Powerball ticket sold in California worth $447M

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1 winning Powerball ticket sold in California worth $447MMENIFEE, Calif. (AP) — A sole winning Powerball ticket worth $447.8 million and matching all six numbers was sold in Southern California and will claim the 10th largest lottery prize in U.S. history, lottery officials said Sunday.

June 12, 2017 at 12:14AM

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Nearly 20 Million Viewers Watched James Comey’s Senate Testimony

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Nearly 20 Million Viewers Watched James Comey’s Senate TestimonyABC took the lead across the networks

June 12, 2017 at 12:14AM

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