Talking Points


Staples wins bid for Essendant


Staples wins bid for Essendant

Staples can now claim victory in its battle to acquire Essendant. The Illinois-based reseller of office supplies said it has determined it will accept a sweetened bid from Framingham-based Staples valued at $12.80 a share in cash, or $483 million. (Staples had previously offered $11.50 a share.) Essendant has decided to jettison a prior merger proposal with Genuine Parts Co. that would have combined Essendant with Genuine Parts’ S.P. Richards business. Genuine Parts said it doesn’t expect to make any counterproposals, which the company said means that Essendant will be required to pay a termination fee of $12 million. Staples had already controlled 11 percent of Essendant shares after it started buying them up in the spring following the announcement of the S.P. Richards merger. The Essendant acquisition, should it come to fruition, would be the biggest deal for Staples since it was acquired a year ago by private equity firm Sycamore Partners for nearly $7 billion. — JON CHESTO


Tariffs force delay of share sale

Volvo Cars has become the latest victim of intensifying global trade tensions, prompting the automaker to delay plans for a share sale and make sweeping changes to its production network to lighten the burden of higher export barriers. Volvo exports vehicles from China to the United States, and had planned to do the reverse from a new factory in Charleston, S.C. Those plans are no longer viable as China and the United States engage in a tit-for-tat trade war resulting in higher tariffs on both sides, Volvo said. — BLOOMBERG NEWS


Snap losing chief strategy officer

Snap Inc. is losing chief strategy officer Imran Khan, one of the few remaining leaders of the team that took the company public in 2017. Khan, 41, is leaving to start his own investment firm that will take stakes in technology companies, according to a person familiar with the mater. Khan will remain in his role until the company can find a replacement, according to a filing made with the US Securities and Exchange Commission. Once one of the most popular mobile apps among young people, Snap has struggled to grow as quickly as expected. In little over a year, Snap has also lost or replaced its heads of finance, legal, engineering, product, and sales. — BLOOMBERG NEWS


Amazon looks to sell more clothing

Advertisement Inc. has filed for a series of trademarks that suggest the company is planning to roll out more clothing brands, part of its bid to become a bigger fashion destination. Over the past few weeks, the e-commerce giant has filed US trademark applications for eight apparel lines, including ones aimed at outerwear and children’s gear. The company, which has built up its private-label clothing and accessories business over the past few years, already has dozens of brands in place in all kinds of categories, including shoes.


Google to challenge ‘right to be forgotten’ rules in European court

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Google is taking its legal fight over whether ‘‘right to be forgotten’’ rules should apply to search engines globally all the way to Europe’s top court. The technology giant is set for a showdown at the European Union Court of Justice in Luxembourg on Tuesday with France’s data privacy regulator over an order to remove search results worldwide upon request. A group of media and press freedom groups are also joining Google’s case, saying that forcing Internet companies to remove website links to comply with a European Union ruling threatens access to information. — ASSOCIATED PRESS


Daimler to develop autonomous vehicle that can carry people and make deliveries

Daimler AG is developing an autonomous electric vehicle that can toggle between a people carrier and a delivery van, as the German manufacturer seeks an edge over rivals like Alphabet Inc.’s Waymo and Deutsche Post AG in shaping the future of mobility. The Mercedes-Benz maker’s concept consists of a chassis with two “modules” — an egg-shaped minibus that can seat as many as 12 and a cargo version — that can be switched in less than two minutes. The approach is designed to meet the needs of logistics companies and public-transport operators who are short of drivers and want to use their electric vehicles more efficiently, Daimler said in a press release Monday. — BLOOMBERG NEWS


Strike in India over fuel prices

Roads were empty, businesses were closed, and schools shut down Monday in parts of India, as opposition politicians looking toward elections called for a nationwide strike over rising fuel prices. While the strike caused barely a ripple in many cities, protesters burned tires in remote Arunachal Pradesh, threw stones at stores that refused to close in the southern state of Karnataka, and stopped buses from running in part of Gujarat. Opposition leaders had called for a complete shutdown, with all businesses, schools, and transportation networks closed. Fuel prices are up nearly 15 percent this year in India, largely as a result of the falling value of the Indian rupee. — ASSOCIATED PRESS


Demand for lithium to transform Alpine mine

Demand for a new generation of electric vehicles is breathing life into an Alpine mine that was originally excavated to feed an Austrian nuclear industry that never materialized. The developer of the site in Wolfsberg, European Lithium Ltd., is planning to move its primary stock listing to Austria from Australia in anticipation transforming the site into the continent’s biggest producer of the light metal that powers plug-in vehicles, according to a company executive. Austrian geologists originally excavated the site 168 miles south of Vienna in a failed search of uranium. The lithium deposits they found went untapped because the demand didn’t exist to mine and mill the material. That calculation’s changed more than three decades later as carmakers and consumer electronics manufacturers scramble for supply. — BLOOMBERG NEWS


Amid shortage, Walmart to offer bonuses for truck driver referrals


Walmart Inc., pinched by the worsening shortage of truckers, plans to double its spending on attracting and retaining drivers by year-end. The retailer, whose private fleet of 6,500 trucks is one of the largest in the nation, will offer referral bonuses of up to $1,500, shorten the on-boarding process for new hires by more than a month, and broadcast its first national TV ad focused on its 7,500 truckers. The program, which coincides with National Truck Driver Appreciation Week beginning Monday, aims to fill vacancies and improve the image of long-haul driving as a career amid a tight labor market. — BLOOMBERG NEWS