June 9, 2017 / 10:04 PM / a year ago

Business Watch: Apple falls, Pandora gets cash infusion

It might not be a buyout...

A person holds a smart phone with the Pandora app showing in New York U.S., June 9, 2017. REUTERS/Shannon Stapleton

But investors liked the nearly half a billion dollar cash infusion that struggling satellite streaming company Pandora got from Sirius XM Holdings. Reuters first reported that Sirius was looking to invest in Pandora after their merger negotiations fell apart.

Apple takes a beating

The stock of the world’s most valuable company fell more than 3 percent after a report that new iPhones to be launched later this year will use modem chips with slower download speeds than some rival smartphones.

Nordstrom makes a move

A group of Nordstrom family members is talking to buyout firms about raising $1 billion to $2 billion in equity to fund a potential bid to take the department store operator private, Reuters exclusively reported.

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