Briefs: Turner offers buyouts; Best Buy fizzles; Durable goods rise; TiVo goes no-cable

Turner Broadcasting says it expects to trim its Turner Broadcasting says it expects to trim its workforce through buyouts and layoffs. The network announced Aug. 26, 2014, a voluntary buyout targeting about six percent of hits U.S.-based employees. This is the CNN Center in Atlanta on Aug. 26, 2014. Photo Credit: EPA / Erik S. Lesser

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Here's what's happening in the world of business on Aug. 26, 2014.

Big story

JOBS CUT. Turner Broadcasting, parent company of CNN, TNT and TBS televion networks, offered a round of buyouts on Tuesday, targeting 600 employees over 55 years old who have worked more than a decade at the company. Turner CEO John Martin has said in the past that the company would streamline.

Companies

HAVING IT THEIR WAY. It's official, Burger King will buy Canadian coffee and baked goods chain Tim Hortons and will shift its headquarters to that country to take advantage of Canada's smaller corporate tax rate.

BEST-ISH BUY. Big-box electronic retailer Best Buy on Tuesday said its profit fell by 45 percent in the second quarter, as more shoppers are making their electronics purchases online. The company earned $146 million.

WIDER STILL. Clothing retailer The Gap, Inc. said it plans to open a distribution center in Fishkill, located in New York's Hudson Valley, a move expected to create 1,200 jobs.

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FULL LIABILITY. According to lawyers interviewed by The Associated Press, airlines involved in catastrophic crashes, even if caused by an attack like Malaysia Airlines Flight 17, are liable for compensating families of victims.

OUT OF ORBITZ. US Airways and American Airlines said they will pull flight listings from online travel agency Orbitz after negotiations failed to produce a new contract. The airlines want to sell more tickets through their own sites to cut down on commission costs.

Tech bites

SCRATCHING A TWITCH. Amazon is paying $970 million for Twitch, a company that streams video of people playing video games.

NO CABLE, NO PROBLEM. The original digital video recorder company, TiVo Inc., said it will roll out a new service geared toward users who do not already subscribe to cable, recording over-the-air television broadcasts instead.

E-CRACKDOWN. The World Health Organization is urging governments to enact stricter rules when it comes to the use of electronic cigarettes, warning that  nicotine-vapor cigarettes, especially ones in fruit flavors, could act as gateway drugs for adolescents.

It's the economy

WELL UP. Durable goods orders rose nearly 23 percent in July, the U.S. Commerce Department announced Tuesday, attributing the bump to higher demand for commercial aircraft.

On the weird side

KNEE JERKS. Police were called to a United Airlines flight from Newark to the Denver after a fight started over a passenger's use of a device that prevents seats from reclining.

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