Morning Beat: General Electric Company (GE), Amazon.com, Inc. (AMZN), Microsoft Corporation (MSFT)
General Electric Company (NYSE:GE) has offloaded its appliance business in a deal believed to be worth $5.4 billion. China’s Haier is the acquirer as it continues to expand its footprint in the US. The company is well known for its household goods that include washing machines, refrigerators, and microwaves.
Both companies board of directors have approved the deal. General Electric Company (NYSE:GE) had tried to offload the unit to Sweden’s Electrolux but the deal fell through over antitrust concerns. Haier plans to maintain the headquarters of the appliance division in Louisville Kentucky.
Amazon.com, Inc. (NASDAQ:AMZN)’s China subsidiary has inched a step closer to expanding the e-commerce giant operations into the lucrative freight business. According to freight forwarding startup, Flexport, the company is now listed on the Federal Maritime Commission Site.
What this means is that the company can now reserve cargo space on vessels. However the company cannot own its own ships yet. Even with the limitations Amazon.com, Inc. (NASDAQ:AMZN) can now flex its muscles in the freight market believed to be worth $350 billion.
Merchants can now ship goods directly from China to the US through Amazon. This way, the e-commerce giant should be able to compete directly with Wish, valued at $3 billion, that lets consumers in the US buy goods directly from China.
Lumia 535 becomes Microsoft Corporation (NASDAQ:MSFT) first device to get a Windows 10 update in Latin America. The roll out comes just days after users in Poland were made aware of the availability of the update, specifically targeting the 4G capable Lumia 640 devices.
Other devices that Microsoft Corporation (NASDAQ:MSFT) says will receive the Windows 10 update include Lumia 430, 435, 532, 540, 635, 640XL 735, 830 and Lumia 930. Roll out in the Netherlands and France is schedule for next week. The roll out is part of the software giant push to bring more than a billion people into the Windows 10 ecosystem.
Netflix, Inc. (NASDAQ:NFLX) has announced plans to curtail the use of proxies to access content on the network. The practice has been rampant in the recent past as consumers in other countries look to gain access to a much bigger library. The streaming giant now says it will increase efforts in the coming weeks, to block the proxies completely.
Content available in different countries differs a great deal, with some having more content than others. Subscribers in Australia, for example, are restricted to 10% of the content available in the US. Netflix, Inc. (NASDAQ:NFLX) has a long way to go before offering viewers across the globe the same films.
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