Bloomberg Businessweek (Europe)

Briefs: Singing the St. Louis blues

- By Caroline Winter

● ● The National Football League voted to allow the St. Louis Rams to return to Los Angeles for the fall 2016 season and eventually settle into a new $1.9 billion stadium in Inglewood. The move gives the league a presence in the city for the first time in more than two decades. Team owner Stan Kroenke will pay the NFL $650 million in relocation fees over the next 10 years. ●$● General Electric plans to eliminate about 6,500 jobs in Europe, including 765 in France and 1,700 in Germany. The cuts, part of a restructur­ing designed to achieve $3 billion in savings, follow GE’s $9.2 billion purchase of the energy business of French multinatio­nal Alstom. As part of the deal, GE said it would create 1,000 new jobs in France. Samsung Electronic­s plans to establish an independen­t committee to inspect its Korean chip factories, after hundreds of workers developed rare cancers and other illnesses. Samsung already has set up an $83 million fund to compensate victims and fund preventive measures. ● ● Al Jazeera America will cease operations on April 30. The cable news channel, which premiered in 2013 after buying Al Gore’s Current TV for $500 million, struggled to build an audience and faced internal strife. In a memo to the staff, CEO Al Anstey didn’t address how many jobs would be lost. ● ● After a four-year absence, Unilever will return to Cuba in a $35 million joint venture with the island nation’s state-owned detergent company, Intersuche­l. The Anglo-Dutch company will take a 60 percent stake in the business.

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 ??  ?? Walt Disney announced that its $5.5 billion Disneyland park and resort will open in Shanghai on June 16, about a year after the biggest Disney store in the world opened there.
Walt Disney announced that its $5.5 billion Disneyland park and resort will open in Shanghai on June 16, about a year after the biggest Disney store in the world opened there.

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