$1.7B deal to sell Middle East Hut-KFC franchiser collapses

A news summary, focused on on big employers; updated 1:31 p.m.

YUM: A proposed $1.7 billion deal to sell a majority stake in the Middle Eastern franchise rights-owner of Pizza Hut and KFC to a local group of businessmen has been scrapped. Kuwait Food Co. had been up for sale for years, but talks to sell failed amid a diminished appetite for large transactions in a region where low oil prices have dented investors’ confidence (Wall Street Journal).

GE logoGE picked Boston for its new headquarters, but not before the border state of Rhode Island made its case by comparing itself favorably on labor costs. The average R.I. tech worker makes $93,000 per year vs. $109,000 in Massachusetts, state officials said. Gov. Gina Raimondo told The Providence Journal that the state’s final offer to GE was more than $100 million and “competitive” with the Massachusetts package. Providence and New York City were among the finalists before GE chose Boston in January. (Boston Globe).

In other news, over the past four years, the Louisville police have logged more than 9,200 calls for service from six area Walmarts, 33% more than the next-highest location, seven area Kroger stores (WDRB).

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