Industry News

Target's tech department was in line for a major shake-up. Not long after taking over as Target's chief information officer, Mike McNamara told his boss, CEO Brian Cornell, that his budget was too big. "For the first time perhaps in my career, I had someone walk into my office and say,' Brian, I've got too much capital to spend,'" Cornell recounted incredulously to Wall Street analysts at a meeting in New York earlier this year."/>
Target's IT chief set a new direction, starting with smaller budget [Star Tribune (Minneapolis)]
Apple devices. My coverage has included, notably, an updated profile of the company as it began to manufacture and sell accessories for the Apple Watch. A previous profile ran in 2013 as the company prepared to enter the leather-bag market."/>
Local firm Pad & Quill profiled in New York Times [Pioneer Press, St. Paul, Minn.]
Sinclair Broadcast Group, which also owns WSBT on channel 22 based in Mishawaka, purchased the FOX affiliation from Quincy Media. Beginning Monday, FOX 28' s news operation will be absorbed by WSBT and FOX programming will move to a new digital subchannel 22.2."/>
BRIEF: Saying goodbye: FOX 28 weekday anchors sign off for the final time [The Elkhart Truth, Ind.]
CoreLogic. Data from CoreLogic show that the rate of foreclosures among outstanding mortgage loans was 1.80 percent for May 2016, compared to the previous year, when the rate was 2.31 percent. Foreclosure activity in the metro area was higher than the national foreclosure rate, which was 1 percent for May 2016.."/>
ABQ metro's foreclosure rate continues to decline in May [Albuquerque Journal, N.M.]
Hutchinson Technology Inc. moved more of its assembly work overseas as the Minnesota-based maker of computer disk drive components awaits regulatory approval of its merger with TDK. Although sales declined slightly in HTI's latest quarterly earnings report released Friday morning, the company, which has a manufacturing facility in Eau Claire, noted that trimmed operating costs led to a boost in gross profit. HTI's $53.2 million in net sales in the..."/>
HTI offshores, awaits merger [The Leader-Telegram, Eau Claire, Wis.]
Netflix, which entered India in January, has launched a marketing campaign. The platform's first-ever digital brand film for India titled Commitment features standup comedian Abish Mathew, who proposes to his lady love over a dinner date. Surprised and ecstatic, the girlfriend accepts the proposal when she peeks into ring box to find Mathew's Netflix Id and password."/>
Netflix India rolls out its first digital brand film [Mint, New Delhi]
Genpact, and Singapore-based angel investor Evan Lim. Existing investors Hemant Kaul, former chief executive officer, Allianz General Insurance, and Ram Kumar Kakani, professor, XLRI, also participated in the round."/>
Medinfi raises $200,000 from Genpact, others [Mint, New Delhi]
Alphabet Inc.' s revenue growth in the second quarter, as it has for years now. Revenue at Alphabet--Google's parent firm, formed in 2015-- rose 21% to $21.5 billion in April-June from a year ago. Advertising revenue reached $19.14 billion, a 19% year-on-year increase."/>
Google continues to ride high on advertising in June quarter [Mint, New Delhi]
Ashok Leyland Ltd, resigned from the board of directors with effect from 28 July, the company said in a BSE filing on Friday. Seshasayee is also the non-executive chairman of Infosys Ltd and chairman of Indusind Bank Ltd.. Last year, the board of Infosys named Seshasayee, who was an independent director at the Bengaluru-based software services firm, as non-executive chairman, replacing K.V."/>
BRIEF: R. Seshasayee resigns from Ashok Leyland board [Mint, New Delhi]

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