For $7.2 billion.
In (another) attempt to take a bite out of Apple and Google, Microsoft is buying Nokia’s handset and services business, including a portfolio of patents, for a whopping $7.2 billion. Microsoft and Nokia first partnered in 2011, offering Lumia smartphones with Windows software, but they never succeeded in challenging iPhones and Android devices. Microsoft is expecting to net around 32,000 new employees, a third of its current workforce. While some in the tech world opined that the deal would mean the end of Nokia, investors are clearly pleased: the phone maker’s stock surged early Tuesday.
To stop Fukushima leaks.
It’s expensive, but will it work? Japan announced plans to spend a half billion dollars to build a subterranean wall of ice to control radioactive water leaks from the Fukushima nuclear plant. The site has been leaking hundreds of tons of contaminated water since the 2011 earthquake and tsunami that damaged its cooling towers and melted three of its reactors. The proposed wall of frozen earth will be made of pipes filled with coolant in hopes of preventing the ground water from being contaminated by radioactive water used to cool the reactors, 300 tons of which leaked from the temporary storage tanks just last month.
Burger King’s French Fry Burger may be the lamest fast-food invention yet. Daniel Gross asks, is this the best you can do?
Last week I fretted that America—and American business, in particular—seemed to be running out of ideas. On Sunday, in a drive-through lane just off Exit 28 of I-84, outside Southington, Connecticut, I received further confirmation of this hypothesis. God help me, I tried Burger King’s new French Fry Burger. And as much as fast-food innovation can sometimes inspire awe and confidence in this great nation (like Taco Bell’s Doritos Locos Tacos), it can also leave one full of questions about the future of our common enterprise.
If all goes according to plan, law-enforcement officials will have another social-media network by mid-October. BlueLine, created by Los Angeles Police Chief Bill Bratton, will allow officers to share advice and information securely through video and instant messaging. Bratton said he hopes the service will allow federal, state, and local agencies to work together more closely to combat crime. The system, which is currently being tested by 100 officers in California and has been compared to LinkedIn, will also allow users to create databases and even have PowerPoint briefings.
New Yorkers, you can finally watch the U.S. Open. CBS and Time Warner Cable ended their public feud Monday evening, effective immediately. Lloyd Grove on who caved—and who’s crowing.
Our short regional nightmare is over. Shortly after 5 p.m. Eastern Time, minutes after the rain delay ended at the U.S. Open tennis tournament in Queens, CBS announced an agreement that restored the Tiffany Network and related channels to about 3 million Time Warner Cable customers in media markets from New York to Los Angeles, where tennis fans can now watch the Open without resorting to noisy sports bars or dicey live streaming. “I am pleased to inform you that this evening we concluded our content carriage agreement with Time Warner,” CBS chief executive Leslie Moonves announced in an email—the first pleasant one in his 32-day public-relations bickerfest with TWC chief executive Glenn Britt.
The terms of the deal won't be disclosed.
CBS and Time Warner have reached an agreement that will allow the cable company to broadcast CBS and its affiliate networks. The companies, which announced the deal in a joint press release on Monday, said that programming would resume by 6 p.m. The terms of the new contract aren't being disclosed. Millions of viewers went without CBS for a month as the two massive companies squabbled over how much to charge for retransmission fees, which providers pay to TV station owners.
Many younger professionals aren’t just looking for jobs. They’re looking for a better quality of life—and are tailoring their careers accordingly.
“My family comes before my job.”“ I’d rather have an interesting life than make a lot of money.”“I owe it all to yoga.”We’re used to hearing these kinds of declarations from women, who often resolve work/life dilemmas by “opting out” to rear kids or taking a career break to eat, pray and love their way around the world. But increasingly such comments are coming from men—specifically young men, the Gen Y guys, the millennial males.“I’ve been seeing this in the classroom at Harvard Business School,” says Bill George, a professor of management practice at Harvard Business School and the author of four best-selling books on leadership.
Prime Minister vows quick action.
The slow-motion disaster of Japan's Fukushima nuclear plant, crippled in the tsunami two and half years ago, saw another setback today, with storage tanks once again leaking radioactive water. Japan's nuclear watchdog said tanks and pipes that were hastily constructed to store radioactive water that had been used to cool reactors at the plant are the ones leaking, though not as rapidly as the tank that leaked 300 million tons of radioactive water last month. Prime Minister Shinzo Abe vowed quick action, including the use of public funds, but it's unclear what the best course would be. The nuclear watchdog is considering dumping low-level waste into the Pacific Ocean.
Are you that person at the dinner table who can’t stop checking your iPhone? The makers of the new app BRB have a solution for your fear of missing out—a timer with a customizable away message to send to all your friends.
It’s a familiar scenario. You’re out to dinner and all your friends’ faces are illuminated by the iPhone they’re half-trying to hide under the table. Maybe they’re scrolling through Instagram, learning what other, lesser, friends are eating, or they’re sending a maddening “I’ll call you after dinner!!” text.But choose to leave your phone at home or ignore your texts, and by the time you check it your mom has already filed a missing person report or you’ve found yourself in a surprise fight with your slighted significant other.
From the post-Google Glass world to the crazy-making of Vladimir Putin, the best in business journalism from the past week.
How a ‘Deviant’ Philosopher Built Palantir, CIA-Funded Data-Mining Juggernaut Andy Greenburg – ForbesOver the past five years, one company, Palantir, has come to dominate the data-mining market for intelligence, law-enforcement agencies, and major financial institutions. Now, after the Edward Snowden saga, the company and its founder are looking at how to continue being the best amidst new privacy concerns.Leonardo DiCaprio and Martin Scorsese Explore the Funny Side of Financial Depravity in The Wolf of Wall Street Mary Kaye Schilling – New York MagazineDegeneracy in the world of financial markets isn’t exclusive to those responsible for the 2008 financial crisis.
With an Ohio Walmart hosting a holiday food drive for its own workers, The Daily Beast's Michael Tomasky criticizes the notoriously stingy company for not paying them more.
One of America’s greatest writers, Jim Harrison, has created an indelible character in the trickster Brown Dog. Now collected for the first time in a new book readers can fully experience this energetic, lustful, quiet hero.