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.
To read more, click here.
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.
Fast-casual concept has big ambitions
A start-up that specializes in melted-sandwiches made from high-quality ingredients is looking to go nationwide.
Melt Shop hopes to grow to 100 locations during the next five years across the U.S. and internationally via franchising. The brand, founded in 2011 in New York, currently operates six corporate-owned locations in New York, one at Mall of America, Bloomington, Minn., and one in King of Prussia, Pa. It recently expanded into the Middle East and will open seven locations in the region, with four opening in Kuwait by March 2018.
"Melt Shop has spent the last six years tirelessly perfecting our brand and business model. The timing is right to bring our New York-born fast casual concept to the world," said Josh Morgan, operating partner of Aurify Brands, Melt Shop parent company.
Part hospitality group and part restaurant incubator, Aurify Brands also owns and operates The Little Beet, The Little Beet Table, Fields Good Chicken, and Make Sandwich.