6 Things About Business You Need to Know This Morning
The former Barclays CEO, John Varley, and several other executives were charged with fraud-related legal violations based on financing activity, which included money paid to businessmen in Qatar as they put 11.8 billion pounds into the bank during the financial crisis. The news first appeared in The Wall Street Journal.
Boeing Co.'s (BA) new 20-year forecast for the aviation industry predicts $6 trillion in deliveries over the period, based on a delivery of 41,030 planes.
Time Warner Inc. (TWX) cut a deal with Snap Inc. (SNAP) to show $100 million in programs and ads through the social network. The two public companies disclosed:
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Time Warner Inc. and Snap Inc. are announcing a global partnership spanning media spending and the development of made-for-Snap Shows over the next two years. Under this new agreement, Time Warner will make a significant commitment to develop and produce Shows for Snapchat from across its networks and entertainment companies. These new Shows will encompass a range of genres, including scripted drama and comedy.
Showcasing Time Warner’s iconic brands and beloved personalities on Snapchat will increase exposure to its desirable, highly engaged and growing audience. In addition to programming, Time Warner will commit to investing in advertising from HBO, Turner and Warner Bros. on Snapchat over the next two years -- affirming its confidence in Snap’s business model and power to reach a unique demographic coveted by advertisers and marketers.
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Vice Media raised $450 million from investment firm TPG, which put its value at $5.7 billion. The new age media company will use the money for program expansion.
A new study from Heidrick & Struggles shows women and minorities still have only a small number of board seats at Fortune 500 companies. According to the report, in 2016 there were 421 new board seats or ones newly created:
The share of seats that went to women in 2016 fell by two percentage points, to 27.8%, ending a seven-year run of year-on-year gains.
In the past four years, the aggregate proportion of African-American, Hispanic, Asian, and Asian American appointments averaged 20.1%, more than four percentage points higher than the 15.8% average for the period 2009–12.
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United Parcel Service Inc. (UPS) will raise holiday shipping rates. The company announced:
At various times throughout the year UPS must flex its delivery network to meet increased demand, including nearly doubling its normal volume during the November and December holiday season. To help enable UPS to continue to provide best-in-class value to customers while offsetting some of the additional expenses incurred during significant volume surges, UPS will begin implementing Peak Surcharges in 2017.
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