According to Reuters, Qualcomm Inc. (NASDAQ: QCOM) has made a plan to fend off a buyout offer from Broadcom Ltd. (NASDAQ: AVGO).
The new CEO of General Electric Co. (NYSE: GE) will drive a turnaround based on a limited number of the company’s businesses. According to The Wall Street Journal:
General Electric’s new leader plans to unveil a road map for the conglomerate that will focus on three of its biggest business lines—aviation, power and health-care—but stops short of a breakup.
The Wall Street Journal also reports that Wal-Mart Stores Inc. (NYSE: WMT) has created a new pricing plan to drive profits during the holidays. The paper’s editors report:
Wal-Mart wants to charge more to buy some products online than in stores, part of a move to boost profits and drive store traffic as it faces off with Amazon.
The value of bitcoin has collapsed. According to Bloomberg:
Bitcoin slumped as the cancellation of a technology upgrade prompted some users to switch out of the cryptocurrency, spooking speculators who had profited from a more than 500 percent surge this year.
The cryptocurrency has dropped 5.6 percent since late Friday, and at one point extended its slide from last week’s record to as much as 29 percent. Bitcoin cash, a rival that split from the original bitcoin in August, has jumped 32 percent since Friday, according to data compiled by Coinmarketcap.com
Uber has a deal to get an infusion of money, some of which will be used to buy out current investors. According to Fortune:
Uber Technologies’ warring board members have struck a peace deal that allows a multibillion-dollar investment by SoftBank Group to proceed, and which would resolve a legal battle between former Chief Executive Travis Kalanick and a prominent shareholder.
Venture capital firm Benchmark, an early investor with a board seat in the ride-services company, and Kalanick have reached an agreement over terms of the SoftBank investment, which could be worth up to $10 billion, according to two people familiar with the matter.
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