Industry News

Sears Holdings Corp. will close its store at Eden Prairie Center in November, the company said Thursday. The closing is part of a series of actions the Chicago-based retailer is taking to cut expenses and transform its asset base. The announcement came on the same day Sears reported a sales decline and net loss in the May-to-July quarter."/>
Sears, amid more red ink, says it will close Eden Prairie store [Star Tribune (Minneapolis)]
MannKind Corporation, a developer of devices for treatment of diabetes. Before his death, Mann staged offerings for the company on both Nasdaq and the Tel Aviv Stock Exchange."/>
Alfred Mann's legacy stimulates Israeli innovation [Globes, Tel Aviv, Israel]
Tata Communications Ltd said on Thursday that it had filed a complaint against Sharepro Services Pvt. Ltd with the Economic Offences Wing, citing certain irregularities in the records of its securities maintained by the share transfer agent. In April, the Securities and Exchange Board of India had filed a complaint with the EoW for registering a first information report against Sharepro Services and 15 others--less than two weeks after the regulator had barred..."/>
Tata Communications files complaint against Sharepro with EoW [Mint, New Delhi]
Akamai Technologies Inc. with its "State of the Internet" reports. Enterprises, on the other hand, know Akamai for more than just that--as a content delivery network services company that helps them access a speedier and smarter Internet, and one that is reliable and secure. Much of what Akamai does is accomplished with the help of sophisticated algorithms, Tom Leighton, its chief executive officer, said in an interview in Mumbai."/>
Whatever we do is around mobile now: Akamai CEO Tom Leighton [Mint, New Delhi]
Target Corp. said it will end its business relationship with Welspun India Ltd, stating it had received bedsheets where Egyptian cotton was substituted with a cheaper variant. When stock market trading resumed on Monday, it was clear Welspun India wasn't worth the Rs.10, 370 crore valuation it enjoyed until the prior week. But how much was it now worth?"/>
How long does it take to discover Welspun India's new worth? [Mint, New Delhi]
Accenture analysis of data from CB Insights. Total investment in Asia-Pacific's financial technology sector reached $9.62 billion as of July 31, more than twice the $4.26 billion invested in the region in all of 2015.. "China's established companies, rather than nascent start-ups, are at the forefront of the..."/>
Asia-Pacific beats North America in fintech investment: report [Mint, New Delhi]
Welspun India Ltd's largest customers said late on Wednesday evening it will independently review its supply chain following Target Corp.' s decision to snap ties with the Indian textile maker. Bed Bath& Beyond is the fourth retailer following Target, Wal-Mart Stores Inc and J.C. Penney Co. now reviewing its supply chain to verify Welspun's product claims."/>
Welspun India product claims: Now, Bed Bath & Beyond starts review [Mint, New Delhi]
Almost ready [Desert Dispatch, Barstow, Calif.]
Dollar Tree executives say the discount chain that merged with Family Dollar a year ago sold nearly $5 billion worth of goods in the second quarter, earning a profit of $170.2 million. In the three months ending July 30, the Chesapeake-based retailer reported earning 72 cents per share compared with a loss of 46 cents per share a year ago when it racked up costs associated with its $9.2 billion merger. Dollar Tree's shopping square footage also grew during the quarter by 10.4..."/>
Dollar Tree, Family Dollar combined sales nearly top $5 billion last quarter [The Virginian-Pilot]
WALGREENS BOOTS ALLIANCE BUYS ANOTHER USD 1.19 BN OF AMERISOURCEBERGEN SHARES VIA WARRANTS EXERCISE US-based drug retailing chain Walgreens Boots Alliance, Inc. has exercised these warrants and purchased 22,696,912 shares of US-based pharmaceutical sourcing and distribution services company AmerisourceBergen common stock for an aggregate payment of approximately USD 1.19 bn using cash..."/>
M and A Navigator: Deal pipeline –26 August
Federal-Mogul foundry, which the Lawrence Group is redoing as stores, offices and a food hall. Steve Smith, the Lawrence Group's chief executive, announced the work Thursday and added that Bull Moose Industries will take "a significant ownership interest" in what has grown to as large as a $340 million redevelopment of the 14- acre site."/>
Work begins on $340 million Midtown redevelopment that will include stores, offices and food hall [St. Louis Post-Dispatch]
Esports company sets up shop in Orlando [Orlando Sentinel]
Starbucks has asked a Chicago court to dismiss a lawsuit that accuses it of misrepresenting the sizes of its cold drinks, a week after a similar case was tossed in California. The federal lawsuit in Chicago was first filed in May, but a new plaintiff was named last week. Thursday was the deadline to file a dismissal motion."/>
Starbucks asks court to dismiss iced drink lawsuit in Chicago [Chicago Tribune]

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