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Sears Chairman Eddie Lampert submits $4.6 billion proposal to save Sears

Sears Chairman Eddie Lampert submits $4.6 billion proposal to save Sears

The fund run by Sears Chairman Eddie Lampert, ESL Investments, submitted a $4.6 billion proposal on Thursday to help save the bankrupt retailer with the purchase of 500 stores. Sears Holdings, which owns Sears department stores and Kmart, filed for bankruptcy on Oct. 15. In previous court filings, it has said it was in talks with ESL about a "going concern bid" that could help the company emerge from bankruptcy. The offer outlined Thursday included up to $950 million in cash through an asset-based loan facility, a "credit bid" of $1.8 billion and the assumption of roughly $1.1 billion in liabilities. The liabilities assumed include gift cards, points from its Shop Your Way loyalty program and protection agreements from Sears Home Services. Other funds include additional cash, notes and the rollover of cash collateral.
Google, Apple, Facebook face world-first encryption laws in Australia

Google, Apple, Facebook face world-first encryption laws in Australia

Australia passed new laws that allow law enforcement to access encrypted messages, legislation that leading tech companies, including Google, Facebook and Twitter, have all opposed. The laws, which passed late on Thursday Australian time, were billed as essential for national security and a vital tool for law enforcement in the fight against terrorism. The new laws come as tech companies and governments around the world debate the importance of encryption amid a changing national security landscape. Governments and law enforcement agencies across the US, Europe and other western nations argue terrorists and criminals are flocking to encrypted messaging services to escape detection. They say law enforcement needs access to these services -- and greater regulation of tech companies broadly -- to ensure public safety.
Wordpress 5.0 launches with new, block-based editor

Wordpress 5.0 launches with new, block-based editor

In the new ‘Bebo’ version of WordPress, which is named after Cuban jazz musician Bebo Valdés, we see the introduction of the Gutenberg editor, which puts each piece of content into its own distinct block, allowing creators to decide where to place it and how it appears to viewers. This essentially makes the process a flexible WYSIWYG system. WordPress says that if you prefer to use HTML and CSS, the blocks won’t be an issue. Blocks include paragraphs, images, galleries, quotes, audio, lists, embeds, and much more. For those building client sites, it’s possible to create reusable blocks that lets clients add new content anytime while maintaining the same look and feel.
Amazon Is Bringing in Elite Lobbyists Amid Seething Rage Over HQ2

Amazon Is Bringing in Elite Lobbyists Amid Seething Rage Over HQ2

Amazon might be too big to tax, but it’s not too big to freak out. As the company tries to erect a massive headquarters in America’s largest city, it has come up against staunch opposition from residents, politicians and unions—all concerned the powerful monopoly will serve to inflate rent and strain local infrastructure, especially the housing supply and subway system. And while it might seem like a trillion-dollar company could easily quash protesting naysayers, turns out CEO Jeff Bezos might actually have good reason to try and win the haters over.
Marlboro owner Altria invests $1.8 billion in cannabis company Cronos

Marlboro owner Altria invests $1.8 billion in cannabis company Cronos

Tobacco giant Altria is investing $1.8 billion in Canadian cannabis company Cronos Group. That will give Altria a 45% stake in the company, with an option for Altria to increase its stake to 55% over the next five years. Reports of an Altria-Cronos deal first surfaced earlier this week. The decision by Altria to go ahead with an investment in Cronos shows that Altria is serious about investing in marijuana as a new growth area as sales of traditional cigarettes slow. Altria's stock has fallen nearly 25% this year and the company is expected to report revenue growth of only about 1% this year and in 2019.
UnitedCorp files suit against Bitmain, Roger Ver, Kraken and others over alleged manipulation during Bitcoin Cash hard fork

UnitedCorp files suit against Bitmain, Roger Ver, Kraken and others over alleged manipulation during Bitcoin Cash hard fork

The aftermath of the tumultuous Bitcoin Cash hard fork has hit the courts after Florida-based United American Corp. filed a suit against some of the biggest names in the cryptocurrency market, accusing them of manipulation of the Bitcoin Cash network during and after the Nov. 15 hard fork. According to a press release, Unitedcorp UAMA, -18.20%  alleges that parties including Bitmain, Bitcoin.com, Roger Ver and the Kraken exchange engaged in “unfair methods of competition” that were detrimental to UnitedCorp and other stakeholders.
Apple Watch electrocardiogram and irregular heart rate features are available today

Apple Watch electrocardiogram and irregular heart rate features are available today

Today, with an update to watchOS, Apple is making its electrocardiogram (EKG) reading feature available to Apple Watch Series 4 owners. It’s also releasing an irregular rate notification feature that will be available on Apple Watches going back to Series 1. Both are a part of watchOS 5.1.2. When the Apple Watch Series 4 was announced this past September, the most significant new hardware feature besides the larger screen was probably the ability to take an EKG directly on the Watch. And while the electrodes on the digital crown and the backside of the Watch were there, the software to support them hadn’t been released. Now it’s here.
Sunflower Labs is building a drone surveillance system for high-end homes

Sunflower Labs is building a drone surveillance system for high-end homes

Tucked away high in the residential hills of suburban San Carlos, California, is a three-bedroom home with its own autonomous aerial security system. The house is no different than any other residence on the quiet street full of well-manicured lawns and spacious views of the Pulgas Ridge Preserve. But it just happens to be the personal home of former Evernote executive and Sunflower Labs CEO Alex Pachikov. He’s turned the house into a prototype home for the Sunflower system, which uses a series of motion and vibration sensors in conjunction with an autonomous drone to monitor all activity, down to measuring the footsteps on the grass outside his front door.
Salesforce Adds IoT Insights to Its Field Service CRM Platform

Salesforce Adds IoT Insights to Its Field Service CRM Platform

Salesforce has announced some new Internet of Things (IoT) capabilities for its Service Cloud console to enable companies to automate requests for sending out customer service representatives. Launched today, Salesforce IoT Insights for Field Service Lightning lets companies use connected devices to troubleshoot problems with machinery before they get on site. Salesforce said it is easy to add customize new capabilities on Lightning through drag-and-drop functionality.
Amazon's fleet of 767s is bad news for FedEx and UPS, Morgan Stanley says (AMZN, FDX, UPS)

Amazon's fleet of 767s is bad news for FedEx and UPS, Morgan Stanley says (AMZN, FDX, UPS)

Amazon's cargo planes are poised to take market share from the logistics giants UPS and FedEx, Morgan Stanley says. "The market is missing the risk Amazon Air poses to UPS/FDX growth," a group of Morgan Stanley analysts led by Ravi Shanker said Tuesday.  In August 2016, the online retailer revealed its first cargo plane, Amazon One, — a converted Boeing 767 operated by Amazon partner Atlas Air — highlighting its desire to take over package-delivery logistics.


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