Sep 22, 2017
Week in Review, September 23
Since KKR, Bain Capital and Vornado Realty took the company private in a leveraged buyout in 2005, the company has spent more than $250m a year servicing some $5bn of long term debt. After years of rearranging its debt burden, Toys R Us this week said it now has a chance to invest in marketing and technology, even promising to raise store employees' wages. The telecoms landscape this week witnessed its latest shake-up when the fading Taiwanese smartphone maker HTC sold a 2,000-strong team to Google for $1.1bn, and transferred some of its intellectual property, writes Louise Lucas. The signed memorandum of understanding this week follows more than a year of talks and comes after Tata removed a central obstacle to the deal by offloading its UK pension scheme. Google's parent company is working on a sweeping plan to build a city from the ground up, the executive in charge of its urban innovation business said this week, in an attempt to prove that a technologically enabled urban environment can improve quality of life and reduce cities' impact on the environment.
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