Company news in brief

Apple iPhones get bigger and pricier

Apple Inc introduced its largest-ever iPhone and a watch that detects heart problems on Wednesday, in an attempt to get customers to upgrade to more expensive devices in the face of stagnant global demand for smartphones.

The relatively small changes to its lineup, following last year's overhauled iPhone X, were widely expected by investors and the company's shares ended down 1.2% at US$221.07.

The strategy has been successful, helping Apple's stock to rise more than 30% this year and making it the first publicly traded US company to hit a market value of more than US$1 trillion.– Nampa/Reuters



Adobe in talks to buy marketing software firm

Adobe Systems Inc, the maker of image-editing software Photoshop, is in negotiations to buy Marketo Inc, a privately held cloud-based marketing software company, according to people familiar with the matter.

The deal would boost Adobe's cloud-based software offerings as it takes on larger peers Microsoft Corp and Oracle Corp . Marketo offers business-to-business marketing applications that would complement Adobe's marketing business.

Private equity firm Vista Equity Partners Management LLC took Marketo private two years ago for US$1.8 billion. Adobe is expected to pay significantly more than that should a deal be reached, the sources said, though the exact amount being considered could not be established.

– Nampa/Reuters



British Airways-sponsored retirement scheme close to pension buy-in deal

Trustees of British Airways-sponsored Airways Pension Scheme are close to a deal with Legal & General to insure more than 4 billion pounds (US$5.22 billion) of its historic pension liabilities, Sky News ­reported on Wednesday.

The talks have been ongoing for months and could be concluded within days, Sky said, citing sources close to British Airways.

– Nampa/Reuters



Porsche targets Uber-loving millennials

Porsche is widening its experimentation with alternatives to traditional car ownership, adding pilot programmes on both US coasts that target younger Americans for whom the concept of possessing an automobile is fluid at best.

The luxury automaker plans to offer daily or weekly rentals of its famous sports cars for Atlanta drivers, as well as car-sharing in San Francisco and Los Angeles through a partnership with startup Turo, a platform for car owners who want to rent out their vehicles.

This short-term rental service in Atlanta, called Porsche Drive, builds on a subscription programme the company launched there last year. The initiative lets consumers spend four hours bombing around in a Macan, 718 Cayman or Boxster for as little as US$269. Throw down US$2 909, and you can be the “owner” of a 911 for a week. A concierge service that delivers the car within two hours is included, of course.– Fin24



Pepkor takes action against Tekkie Town founders

Steinhoff's Africa retail business Pepkor has filed a court order against former executives at shoe retailer Tekkie Town to prevent them setting up a rival operation, the latest development in a bitter dispute.

Pepkor Holdings, formerly known as Steinhoff Africa Retail, wants restraint of trade provisions against five previous employees including Braam van Huyssteen, Bernard Mostert and Michael Brown, according to a Tuesday statement. Steinhoff bought Tekkie Town in 2016, and the chain became part of Steinhoff Africa when the latter was spun off about a year ago.

– Fin24