Companies that brag publicly about their success increase their employees' value in the labor market, which means they might lose good people, writes Ithai Stern. "This doesn't mean firms should stop communicating with the media, but it does mean firms need to better understand the tradeoffs of voluntary public disclosures," Stern writes.
Draper James, a fashion and lifestyle startup co-founded by actress Reese Witherspoon, has gotten $10 million in new funding in a round led by Forerunner Ventures. The company is based in New York City, but Witherspoon is looking to spread a Southern aesthetic. "I don't know the Hamptons, but I do know the South, and I realized there was a white space to tell that story," she said.
Some educators and media experts suggest that students need instruction on media literacy to teach them the critical-thinking skills to determine the credibility of online news. This blog post contains lesson ideas and links to resources and online tools for teaching about the news and media literacy.
The Organization for Economic Cooperation and Development has published an overhaul of corporate tax rules meant to stop companies from using a technique known as "profit shifting" to move profits to low-tax jurisdictions. The rules are expected to help governments recoup as much as $240 billion in lost revenue annually.
Several Associated Food Stores have partnered with Robinson Fresh to launch a produce program that offers a discount variety of "ugly" seasonal fruits and vegetables. The Misfit program aims to raise awareness and encourage the reduction of food waste, and offers a treasure hunt experience for customers, the companies said.
People may need to do moderate exercise for two to four times the recommended 150-minute per week minimum to significantly lower their risk of heart failure, according to researchers who analyzed 12 studies that tracked 370,000 people for an average of 15 years. The study in the journal Circulation linked exercising two times the recommended minimum level to a 20% lower risk of heart failure and four times the minimum to a 35% reduced risk.
Refinery29 launched in 2005 as an exclusive guide to New York City boutiques. "We had a smaller mission to build an independent platform. Then we realized that people have interests broader than just style, so we expanded into health, living, the home, and increasingly, culture and news," said co-founder and co-CEO Philippe von Borries.
Skyworks Solutions will acquire PMC-Sierra for $2 billion in cash, adding chips for data storage and networking to its product portfolio; the transaction is scheduled to close in the first half of 2016. "With our acquisition of PMC, Skyworks will be uniquely positioned to capitalize on the explosive demand for high-performance solutions that seamlessly connect, transport and store Big Data," said David Aldrich, Skyworks chairman and CEO.
Xoma has agreed to license its anti-transforming growth factor-beta antibody program to Novartis in a deal worth over $500 million. Xoma's anti-transforming growth factor-beta, an immune suppressive cytokine, is involved in suppression of the immune system, cell growth inhibition and other cellular processes. Under the terms of the agreement, Xoma is entitled to an upfront payment of $37 million and as much as $480 million in milestone fees.
HTC's smartphone woes continued in its latest earnings report, as the Taiwanese vendor's revenues dropped by nearly half compared with the same period in 2014. The company reported a net loss of about $138 million in the quarter after posting a slim profit a year ago. By some estimates, HTC's global market share has dropped to about 2% after disappointing sales from its latest flagship phone, the One M9.
Rolls Royce plans to invest nearly $600 million to renovate and upgrade its manufacturing facility in Indianapolis. Work on the project has already started and will take about five years. State and city incentives worth $35 million will cover part of the cost.
Cyberhawk Innovations has launched a service that conducts wind turbine inspections using remotely operated aerial vehicles. The technology makes the turbine inspection process safer as it reduces the need for technicians to work at high heights, said the company. "Technicians only need to climb the assets that require attention, and the requirement to work at height is reduced, if not eliminated in many cases," CEO Craig Roberts said.
American Airlines took out a color border ad on the front page of the Los Angeles Times on Monday. "The team was really looking for something bold to share with Los Angeles," spokeswoman Laura Nedbal said. American also plans to advertise in Chicago and New York.
William Hornbuckle, president of MGM Resorts International, said the Las Vegas-based company is committed to building a resort casino in Springfield, Mass. "We have poured a quarter of a billion dollars into this effort," Hornbuckle said of the $800 million project during a press conference. "We have not gone anywhere, we will not go anywhere and we will be here to the end of this."