• “12 Years a Slave” took home this year’s Oscar for Best Motion Picture. The historical, true story beat out “Gravity,” which had already received seven Oscars that evening, according to The Wall Street Journal.
• Mattel Inc., the world’s largest toymaker, has agreed to buy Mega Brands Inc. Mega Brands is the second largest producer of construction toys and snap-together blocks and Lego’s largest competitor in the toy market, according to Bloomberg.
• Sandwich chain Quiznos is making plans to file for bankruptcy. The primary causes of the chain’s financial difficulties are an extremely high level of debt and a poor relationship with franchise owners, according to The Wall Street Journal.
• There is a shift in beer drinkers’ preferences. According to an industry report, demand for craft beers rose 9.6 percent in 2013, while overall beer production declined 1.4 percent, according to CNBC.
• Apple, the largest tech company in the world, doesn’t have a Twitter. The company has created accounts for smaller areas of business such as iTunes and the App Store, but analysts suspect that Apple simply doesn’t have much to gain from an account and prefers to inform the public and investors the traditional way, according to CNBC.
• Abercrombie & Fitch has plans to lower clothing prices and cut production costs in attempts to combat quarterly losses. The complain says the changes come with teenagers and young adults spending less and the high level of competition in the teen-clothing market, according to The Wall Street Journal.
• Walt Disney Company will end funding and donations to the Boy Scouts of America starting this year. The company’s decision is due to the Scout’s policy that bans gay troop leaders, according to the Associated Press.
• Food labels will be receiving significant changes for the first time in two decades if a new Obama administration bill passes through Congress. The bill would change the font size of the calories portion and require more realistic serving sizes to be used, according to The Wall Street Journal.
