Online giant to open machine learning hub in Barcelona
Amazon is stepping up its commitment to machine learning.
The online giant plans to open a new research and development (R&D) hub in Barcelona, dedicated to machine learning. Amazon expects to open the lab in early 2018, according to The Verge.
Amazon plans to hire more than 100 engineers and scientists for the lab.
The R&D hub will be housed in the same building as the company’s recently announced Amazon Seller Support Hub. Scheduled to open around the same time, the support hub will help small online companies from Southern Europe sell on Amazon Marketplace, The Verge reported.
The news comes on the heels of Amazon’s plan to open a new North American headquarters. Amazon is accepting proposals from interested North American cities through Oct. 19. The company will announce its decision next year.
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Beleaguered electronics retailer inches closer to reorganization
RadioShack is entering the latest chapter in its ongoing financial saga — but on a positive note.
On Thursday, RadioShack’s Chapter 11 bankruptcy plan cleared a preliminary court review. This decision enables the retailer to move forward with its strategy to reorganize, and save a small portion of the company, according to Dealerscope.
As originally reported by the Wall Street Journal, the reorganized company will be composed of online operations, a major network of independent dealers, and somewhere between “zero and 28” company-owned brick-and-mortar retail locations. Yet, this plan still hinges on the outcome of a lawsuit that RadioShack filed against Sprint back in June.
RadioShack filed for bankruptcy protection in March, its second filing in just over two years. To date, less than 30 company-owned stores remain in operation — down from more than 4,400 prior to its first bankruptcy filing in 2015.
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Howard Hughes CEO re-ups for 10 years
David Weinreb, who took The Howard Hughes Corporation public, will now take the company well into the next decade.
The Dallas-based company announced it has entered into a new employment agreement with Weinreb that runs through 2027. As part of the deal, Weinreb completed the acquisition of nearly two million stock warrants in the company at a cost of $50 million.
Since taking the helm in 2011, the former longtime CEO of TPMC Realty Corp. helped Howard Hughes deliver a shareholder return of 207% versus 102% for the S&P 500, according to the company.
“I am very pleased that HHC has secured David’s visionary leadership through the coming decade. David’s proven track record over the last six years is a testament to [his] leadership and ability to assemble a world-class team,” said Chairman William Ackman in a press release.