Reynolds American to buy Lorillard for about $25 billion

Reuters: Reynolds American Inc. said it would buy rival Lorillard Inc. for about $25 billion, merging two of the world's biggest cigarette makers amid a slowdown in sales. Reynolds, whose brands include Camel and Pall Mall, offered $68.88 per Lorillard share. The deal gives Reynolds, the second-largest cigarette maker in the United States, the leading U.S. menthol cigarette, Newport.

 

Microsoft to announce job cuts as soon as this week

Bloomberg: Microsoft Corp. is planning its biggest round of job cuts in five years. The reductions -- which may be unveiled as soon as this week -- will probably be in areas such as Nokia and divisions of Microsoft that overlap with that business, as well as marketing and engineering. The restructuring may end up being the biggest in Microsoft history, topping the 5,800 jobs cut in 2009. 

 

Staples, USPS end program to set up mini-post offices in stores

Reuters: Staples Inc. said it will end a pilot program with the U.S. Postal Service to set up mini-post offices in the company's retail outlets, after several protests outside the stores. Postal workers have protested the program for months, objecting to expanding post office services to Staples stores, staffed with non-union workers. The news comes days after the American Postal Workers Union won the support of the American Federation of Teachers after it approved a resolution to boycott Staples.