On Monday, Shares of Apple Inc. (NASDAQ:AAPL), inclined 1.93% to $125.66.
Apple Inc. is making the U.K. the first market outside the U.S. for its digital-wallet system as the company fights for a place in the electronic-payments industry, according to Bloomberg.
Apple Pay has introduced in the UK, allowing iPhone and Apple Watch owners to use their devices to contactlessly pay for products and services, in addition to travel on Transport for London’s (TfL) Tube, bus and rail network.
The Apple Pay service will be available at more than 250,000 retail locations in Britain starting Tuesday, the company said in an e-mailed statement. The retail locations ranges from fast food places like KFC and McDonald’s to shops like Boots, Marks & Spencer, and Waitrose. The setup lets consumers use devices such as the iPhone 6, iPads and Apple Watches to make payments similar to transactions with contactless debit and credit cards.
Apple Inc. designs, manufactures, and markets mobile communication and media devices, personal computers, watches, and portable digital music players worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.
Shares of Linn Energy, LLC (NASDAQ:LINE), declined -6.98% to $7.73, during its last trading session, hitting its lowest level.
Linn Energy, and LinnCo, LLC (LNCO) declared that LINN has signed definitive agreements with private capital investor Quantum Energy Partners to fund selected future oil and natural gas acquisitions and the development of attained assets
Quantum has agreed to initially commit up to $1 billion of equity capital to fund acquisitions and development of oil and natural gas assets. LINN will have the ability to take part in all acquisition opportunities with a direct working interest ranging from 15 percent to 50 percent. AcqCo assets will be managed by LINN in exchange for reimbursement of general and administrative expenses. Additionally, after certain investor return hurdles are met, LINN will have the ability to earn a promoted interest in AcqCo. Upon the sale of any assets within AcqCo, LINN will be given right of first offer to acquire the assets.
Linn Energy, LLC, an independent oil and natural gas company, acquires and develops oil and natural gas properties in the Unites States. Its properties are located in the Rockies, the Hugoton Basin, California, east Texas and north Louisiana, the Mid-Continent, the Permian Basin, Michigan/Illinois, and south Texas.
Finally, Coty Inc. (NYSE:COTY), ended its last trade with -2.51% loss, and closed at $27.97.
Coty Inc., declared the signing of a definitive agreement to merge The Procter & Gamble Company’s (PG) fine fragrance, color cosmetics, and hair color businesses into Coty through a tax-free Reverse Morris Trust transaction. The transaction is based on a proposal by Coty valuing the P&G Beauty Business at about $12.5 billion at the time the proposal was made. Following the transaction, P&G shareholders will own 52% of all outstanding shares on a fully diluted basis (inclusive of all outstanding equity grants), while Coty’s existing shareholders would own 48% percent of the combined company.
The transaction will instantly create one of the world’s largest beauty companies, with pro forma combined annual revenues of more than $10 billion based on fiscal year 2014 performance, strengthening its leadership position in the $300 billion global beauty industry. Together with P&G’s businesses, Coty is predictable to become the global leader in fragrances and to significantly enhance its position in color cosmetics. P&G’s businesses comprise leading fragrance brands such as Hugo Boss, Dolce & Gabbana and Gucci and the color cosmetics brands COVERGIRL and Max Factor. The transaction also gives Coty an attractive new category in the beauty industry through the addition of P&G’s hair color business, led by Wella and Clairol. The transaction will significantly expand Coty’s geographical footprint, providing scale in large beauty markets like Brazil and Japan, while also increasing critical mass in important geographies in which Coty presently operates, such as in North America, Europe, the Middle East and Asia.
Coty Inc., together with its auxiliaries, manufactures, markets, and distributes womens and men’s fragrances, color cosmetics, and skin and body care related products worldwide. The company operates through three segments: Fragrances, Color Cosmetics, and Skin & Body Care.
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