IAC makes $512 million bid for Angie’s List
IAC/InterActiveCorp., the owner of websites including About.com and HomeAdvisor.com, says it’s offering to buy Angie’s List for about $512 million to expand its home services providers. The deal would combine similar businesses. Angie’s List lets users research, shop for and rate local plumbers, home cleaners and other home services. HomeAdvisor.com offers resources for home repair and improvement projects, such as helping find the average project costs across the country and finding professionals for the work. IAC said Wednesday that it’s offered $8.75 for each share of Angie’s List stock. That’s a 10 premium to its closing price. Angie’s List shares rose more than 12 percent in extended trading, to $8.89. Representatives for the Indianapolis-based company weren’t immediately available to comment.
Chipotle reopens in Pacific Northwest
Customers returned to Pacific Northwest Chipotle restaurants as the chain reopened after an E. coli outbreak that sickened about 45 people to Washington state and Oregon. Chipotle voluntarily closed 43 restaurants in Washington state and Oregon at the end of October after health officials discovered most of the people sickened in an E. coli outbreak had one thing in common: a recent meal at Chipotle. The outbreak hospitalized more than a dozen people. Health officials from the two states have not found the source of the E. coli outbreak, despite testing by the U.S. Food and Drug Administration of food samples from each of the affected restaurants.
Factory output slipped in China last month
China’s factory output and investment weakened in October while retail sales growth edged up, suggesting economic growth has stabilized but has yet to revive despite repeated interest rate cuts and other stimulus. The data reflected the two-speed nature of the economy as Communist leaders try to encourage growth based on consumer spending instead of trade, investment and heavy industry. Economic growth decelerated to a six-year low of 6.9 percent in the latest quarter. Communist leaders insist they are comfortable with slower growth but face pressure to avoid a politically dangerous spike in job losses.
Wisconsin firms settle ‘backyard brat’ fight
Two Wisconsin sausage companies have settled their legal battle over who can call their product a “backyard brat.” Klement Sausage Co. sued Johnsonville Sausage in federal court for trademark infringement. Klement, based in Milwaukee, said it trademarked “backyard bratwurst” in 2009 and that Johnsonville’s use of the phrase “backyard grilled brat” violated federal and state law. Johnsonville, based in Sheboygan Falls, said it has agreed to stop using the term and that it dropped the phrase after a cease-and-desist notification from Klement in May.
Government asks Facebook for more data
Facebook Inc. said content restrictions and government requests for data surged in the first half of 2015, which the social network has seen continually increase since it began publicly releasing such data two years ago. Government requests for account data globally jumped 18 percent in the first half of 2015 to 41,214 accounts, up from 35,051 requests in the second half of 2014, Facebook said in a blog post. The amount of content restricted for violating local law more than doubled compared with the same period in the second half of 2014 to 20,568 pieces of content, it said.
British jobless rate falls to lowest in 7 years
Britain’s unemployment rate has dropped to 5.3 percent in the three months ending in September, the lowest level in seven years. The Office of National Statistics says the rate is down from 5.6 percent from in the April-to-June period and 6.0 percent a year earlier. Britain’s government cheered the news, arguing that the figures prove its economic plan is working. Dr. John Philpott, director of the Jobs Economist, says that most of the rise in employment was due to an increase in part-time jobs.
Brewer Carlsberg plans to cut 2,000 jobs
Danish brewer Carlsberg says it will slash 2,000 jobs, or about 15 percent of its white-collar workforce, after posting a 4.5 billion kronor ($650 million) loss in the third quarter due to poor performance in Russian and Chinese markets. The loss compared with a profit of 2.1 billion kroner in the same period last year, and included special items of 7.7 billion kroner, mostly impairment charges related to Carlsberg’s brands in Russia and China. Revenue was up slightly at 18.3 billion kroner, from 18.1 billion kroner a year ago.