California's 3% average annual growth rate over the past five years and $2.94 trillion GDP in 2018 ranks it above the economies of nations including the UK and France, writes Matthew Winkler. "California's prosperity owes much to its appeal as a destination for worldwide companies pursuing innovation, especially in the technology and healthcare industries," Winkler writes.
Slack reportedly will release the prospectus for its direct listing as early as this week. Sources say the document will indicate the company is on track to generate about $500 million in revenue this year.
Under forthcoming federal regulations, colleges and universities that lose their accreditation and are in danger of closing would be required to alert officials earlier and provide plans for any displaced students, said Diane Auer Jones, principal deputy undersecretary at the US Education Department. Speaking this week at a forum, Jones said the new regulations would give struggling schools an "off-ramp."
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Negotiations for a merger between Deutsche Bank and Commerzbank have ended without resolution, prompting a rise in Deutsche Bank shares and a fall for Commerzbank. "We have concluded that this transaction would not have created sufficient benefits to offset the additional execution risks, restructuring costs and capital requirements associated with such a large-scale integration," said Deutsche Bank CEO Christian Sewing.
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Walmart is building its own supply chain for no-hormone-added Angus beef in 500 Southeast stores this year, though it is anticipated that Tyson and Cargill will continue to provide most of the retailer's beef. "Creating this supply chain allows us to treat our customers by giving them unprecedented quality and transparency," says Walmart's Scott Neal.
Apple CEO Tim Cook says the big idea in health care is having people monitor their health on a real-time basis rather than seeing their physician once a year. Cook says the company still is developing Apple Watch's potential but sees the day when it will be said that "Apple's greatest contribution to mankind has been in health care."
Marketers must cater to consumers who are spending the majority of their time on mobile devices, but shouldn't forget that a mobile-first strategy has to consider the omnichannel experience, Udayan Bose writes. Marketers must factor in trends such as consumers still making more purchases on desktop and using their mobile devices to complement in-store visits and ensure that mobile experiences integrate seamlessly with the entire buying journey, he writes.
The Tennessee state House of Representatives this week advanced a bill supporting FedEx as the company launches a multiyear, billion-dollar project to modernize its Memphis World Hub. The bill would create a tax exemption on certain building materials purchased between July 1, 2019, and Dec. 31, 2026, and used to build or improve qualified warehouse or distribution facilities.
Verizon plans to deliver its millimeter wave 5G Ultra Wideband service in more than 30 cities in 2019, and now it has named 20 of the new markets. Verizon has also begun taking preorders for the $1,300 Samsung Galaxy S10 5G handset.
The US attorney's office alleges Rochester Drug Co-Operative, a major drug distributor, conspired to violate narcotics laws, among other charges related to the opioid crisis. Additionally, the company's former CEO and former chief compliance officer have been charged with conspiracy to distribute controlled substances and conspiracy to defraud the US.
Joe Ianniello will stay in his position as acting CEO at CBS through the end of year as the network suspends efforts to find a permanent replacement. Insiders speculate that move to halt its new CEO search may be related to plans to merge with Viacom -- a move that would force the CEO of either CBS or Viacom to step down.
The fire that destroyed the Notre Dame's cathedral's roof, the cause of which is still undetermined, is prompting questions regarding preservation versus fire prevention at historic sites. The fire is believed to have started in an area undergoing restoration, highlighting the dangerous nature of construction sites, where small mistakes can lead to major catastrophes.
An analysis by The Wall Street Journal found that employees of oil and natural gas drillers and refiners had the best median salaries in the energy and utility sectors last year. Refiner Phillips 66 offered the highest median worker pay at $196,407, followed by Anadarko's $183,445 and ExxonMobil's $171,375.
The Transportation Security Administration is increasing signage at US airports to remind travelers the Real ID Act goes into effect on Oct. 1, 2020. "TSA is doing everything we can to prepare our partners and the traveling public for the Real ID deadline next year," TSA chief David Pekoske said.
JetBlue Airways plans to add a daily route between New York and Guayaquil, Ecuador, starting Dec. 5. The flight will be operated with A321neo aircraft equipped with comfortable Collins Meridian seats and 10.1-inch seatback screens offering more than 100 entertainment channels.