Briefs: Singing the St. Louis blues

Bloomberg Businessweek (North America) - - Contents - 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. ●●g 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.

$28 Amount of ven­ture cap­i­tal raised in 2015, a 10 per­cent drop from the $31.1 bil­lion raised in 2014.

bil­lion

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