In brief: Target to buy Shipt for $550 million

Shoppers walk towards a Target store in the Brooklyn borough of New York, on July 19, 2017. MUST CREDIT: Bloomberg photo by Mark Kauzlarich.
Target to buy Shipt for $550 million
Target agreed to purchase grocery-delivery startup Shipt Inc. for $550 million, stepping up efforts to challenge Amazon.com in e-commerce orders. Target will use the all-cash acquisition to accelerate its rollout of same-day delivery across the country, the retailer said. The idea is to let customers order groceries and other goods online, and then have the items sent directly to their doors from nearby Target stores.
Apple backs Finisar with $390M for face ID technology
Apple is spending $390 million to boost production from a maker of laser technology that’s critical for iPhone X features such as facial recognition. Apple will invest the money in Finisar Corp. from a $1 billion manufacturing fund announced earlier this year with the aim of creating more American jobs. Finisar will use the funds to reopen a plant in Sherman, Texas, that will employ 500 people.
T-Mobile to launch TV service next year
T-Mobile is launching a TV service next year, becoming the latest company to marry wireless and video. The service will target people who aren’t interested in traditional cable and satellite TV packages. The company wouldn’t provide details on its upcoming offering, including how it would differ from existing online TV alternatives from Hulu, YouTube, Sony, AT&T and Dish. The nation’s No. 3 wireless carrier said that it bought cable-TV startup Layer3 TV to help it roll out the service. T-Mobile didn’t disclose how much it paid for Layer3, which is available in five U.S. cities.
45M tons of e-waste discarded last year
A new study claims 49.3 million tons of TV sets, refrigerators, cellphones and other electrical goods were discarded last year, with only a fifth recycled to recover the valuable raw materials inside. The U.N.-backed study calculates that the amount of e-waste thrown away in 2016 included a million tons of chargers alone. The study says all the gold, silver, copper and other valuable materials would have been worth $55 billion had they been recovered

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