The supermarket giant, Woolworths has finally announced its decision to wrap up its home improvement project, Masters. After incurring heavy losses for almost four years, chairman Gordon Cairns has decided on selling or shutting down the operations. For this, the company his approached its joint venture partner, Lowe's, to buy out its 33.3% stake in Masters., but it may take several months to sort out the exit options.
Despite a disappointing Thanksgiving weekend, U.S. holiday sales may squeak by expectations if steeper and longer-running discounts lure enough shoppers.
California, US-based education center and accelerator Singularity Universtity (SU) will launch a $50-million venture fund later this year for robotics, biotech, and nanotech firms formedy by SU students and faculty.
Orchard Supply Hardware Stores Corp filed Chapter 11 bankruptcy protection to proceed with the sale of the company's major assets to Lowe's Companies priced at US$205 billion.
Lowe's announced that it has entered into an agreement of purchasing Orchard Supply Hardware for US$205 million plus assumption of debt.