Computer giant HP Inc (NYSE:HPQ) has agreed a US$1bln deal with fellow electronic giant Samsung to acquire its printer business.
HP said it had been looking for the chance to “disrupt and reinvent” the US$55bln industry, which it says “hasn’t innovated in decades”.
Samsung’s printer business generated revenues of US$1.4bln in the last financial year and owns the rights to more than 6,500 printing patents.
The deal comes just days after HP’s sister firm agreed to sell its software business to UK tech business Micro Focus (LON:MCRO).
Business leader blames terrorism for flight route cancellation
American Airlines Group (NASDAQ:AAL) will stop running its routes between Birmingham and New York in January next year due to terrorism fears, according to one business leader.
The US airline announced at the start of the month that it would no longer run the service between Birmingham Airport and New York JFK.
Paul Faulkner, chief executive of the Greater Birmingham Chamber of Commerce, said terrorism was partly to blame for the decision.
He said: “We do understand that transatlantic air services are particularly competitive and terrorism activities in Europe and the strength of the pound against the dollar have deterred Americans from travelling.”
The news comes as another blow to Midlands-based travellers, after Beijing Capital Airlines said back in May that it would no longer run weekly scheduled flights between Birmingham and China.
BoE deputy governor to step down
Bank of England Deputy Governor Minouche Shafik has resigned from her post after just two years at the institution.
Shafik has decided to leave the bank in order to become the director of the London School of Economics.
Shafik – who previously studied at the renowned university – will take up her new position in September of next year.
BoE governor Mark Carney said it was with “gratitude and regret” that he accepted Shafik’s departure.
And Carney will indeed miss her, as the outgoing deputy has voted in line with the governor at every policy meeting since she joined the Monetary Policy Committee.
Morrisons partners up with Amazon again
Morrisons (LON:MRW) has revealed new plans to open “hundreds” of Amazon Lockers inside its stores.
The tie-up will allow customers to pick up their Amazon goods from one of Morrisons’ stores rather than having to wait in.
The supermarket giant says the complete roll-out will make it the “biggest collection of Amazon Lockers” installed this year.
“Many busy customers can’t wait at home for their delivery and we believe the option to pick it up from one of our hundreds of conveniently-located supermarkets will be attractive,” said chief financial officer Trevor Strain.