Programs
Phillips 66 Rewards Shareholders with Stock Buyback Program
Phillips 66 PSX has announced “an authorization by the board of directors for a new share repurchase program. With this move, the company has been permitted to repurchase up to $3 billion of common stock. Following the latest approval, its share repurchase program authorized since 2012 aggregates $15 billion. Thus, Phillips 66 has been strongly committed in returning cash to its shareholders through both dividend payments and stock repurchases. The company stated that it has returned more than $24 billion of capital to its shareholders since 2012.”
Partnerships
Puma Teams Up with Cloud9
The footwear brand has announced “a multiyear partnership with e-sports brand Cloud9 to create an apparel collection for gamers. The clothing will sell for $25 to $75 and be available for purchase on the websites of both companies.”
Customer Experience
Chrome Will Use AI to Describe Images for Blind and Low-Vision Users
Seeing that millions of online images lack alt-text, the tech giant “has announced a new feature for Chrome which will use machine learning to recognize images and offer text descriptions of what they show. It is based on the same technology which lets users search for images by keyword, and the description of the image is auto-generated.”
Uber to Acquire Majority Stake in Grocery-Delivery Service Cornershop
Uber has reached a deal to acquire a majority stake in Cornershop. “Uber continues to expand its reach beyond the core ride-hailing business, and has flagged its food-delivery arm, Uber Eats, as an area it will heavily invest in for some time. Uber didn’t disclose how much it would pay for the stake. DoorDash, Inc., Postmates Inc. and other third-party delivery companies are increasingly pushing into the market to transport consumers’ grocery orders to their homes.”
Chick-Fil-A Continues International Expansion with First Location in the United Kingdom
The QSR has opened its first location outside of North America. “The new opening is a continuation of the chicken chain’s international expansion. In 2018, Chick-fil-A announced its plan to open its first international location in Toronto. The company said at the time it planned to open at least 15 restaurants in the greater Toronto area in the next five years.”