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Leadership Business Events

  • JAKARTA/ TORONTO, July 21- An estimated 5,000 workers at the giant Grasberg copper mine operated by Freeport-McMoRan Inc's Indonesian unit will extend their strike for a fourth month, a union official said on Friday, in an ongoing dispute over layoffs and employment terms. The escalating labor issue comes as Freeport, the world's largest publicly traded copper...

  • TORONTO, July 21- Sears Canada Inc said it would start liquidation sales on Friday at 54 stores that it plans to close as part of a court-approved restructuring plan to improve its performance following years of declining sales. Sears Canada, which in 2012 was spun off from U.S. retailer Sears Holdings Corp, filed for creditor protection in June and laid out a...

  • July 21- Endo International Plc said on Friday it would shutter its manufacturing and distribution facilities in Huntsville, Alabama, resulting in a workforce reduction of about 18 percent. The drugmaker, which employed 4,894 people as of Feb. 21, said it would layoff 875 employees and incur a pretax charge of about $325 million. Earlier in July, Endo agreed to...

  • CHICAGO, July 20- Global grain trader Bunge Ltd's cost cutting and restructuring plans could buy it time in the face of a takeover bid from a larger rival as it struggles to stay independent during a slump in the commodities market, analysts said. In its restructuring announcement, seen as a defense against both Glencore and activist investor Carlson Capital,...

  • SAO PAULO, July 20- Canada's Brookfield Asset Management Inc is in talks with Odebrecht SA to buy seven Brazilian highways operated by the conglomerate's transportation unit, two sources with knowledge of the matter said on Thursday. One of the largest is the Rota das Bandeiras, in Sao Paulo, Brazil's richest state. The conglomerate, as part of a $3.5 billion...

  • INDIANAPOLIS— More than 300 Carrier Corp. workers were being laid off Thursday from the company's Indianapolis factory as part of an outsourcing of jobs to Mexico that drew criticism last year from then-presidential candidate Donald Trump. Carrier announced in February 2016 that it would close the Indianapolis plant and cut about 1,400 production jobs in...

  • LIMA, Peru— Union workers at more than 50 mines in Peru have gone on strike to protest parts of a labor reform that they say will harm workers' rights. Ricardo Juarez is leader of a national federation of miners. Juarez argued that laws approved by President Pedro Pablo Kuczynski would make it easier for mass layoffs and weaken inspection bodies.

  • Fnac's Brazil arm is among several Brazilian appliance and consumer electronics retailers up for sale after their traditional set-up of brick-and-mortar outlets with lots of floor space and slow inventory turnover has become increasingly unsustainable in Brazil's worst recession on record. Fnac's presence in Brazil dates back to 1999.

  • *UK Horlicks and MaxiNutrition combined sales 30 mln pounds. LONDON, July 19- GlaxoSmithKline said it was considering the sale of its cephalosporins antibiotics business and intended to divest its small Horlicks business in Britain, while retaining the much bigger malted drink operation in India. In addition, GSK announced just over 300 job losses on...

  • WASHINGTON, July 19- Advocacy groups launched petitions and sent letters on Wednesday urging two of the biggest U.S. public pension funds to divest from an investment fund unless it stops paying one of President Donald Trump's companies to run a New York hotel. Reuters reported on April 26 that public pension funds in at least seven U.S. states periodically send...

  • Tudor Investment Corp. has been considering a move to a location closer to the commuter rail line to make it easier to travel back and forth to New York City, spokesman Patrick Clifford said. The firm has agreed to sell its 43- acre property in Greenwich to the private Brunswick School, which is across the street, Tudor Jones said. "This change would support easy...

  • Halting the litigation would help Takata sell its healthy business to Key Safety Systems, which is owned by China's Ningbo Joyson Electronic Corp, according to TK Holdings Inc, the U.S. unit. Funds from that $1.6 billion proposed sale will be used to compensate injured drivers, according to court papers filed in the U.S. Bankruptcy Court in Wilmington, Delaware.

  • NEW YORK, July 18- After three years of futile efforts to restructure some $9 billion of debt at Puerto Rico's PREPA, creditors of the now-bankrupt power utility are asking a U.S. federal judge to appoint a receiver to manage PREPA's assets. Political appointees of Puerto Rico's Governor Ricardo Rossello, they argued, cannot be trusted to do so.

  • TOKYO, July 18- Western Digital Corp's top executive is in Japan to meet government officials, aiming to resolve a dispute with Toshiba Corp over the Japanese company's planned sale of its chip business, sources familiar with the matter said on Tuesday. In June, Toshiba announced its preferred bidder was a group made up of Japanese-government backed funds, Bain...

  • TOKYO, July 18- Western Digital Corp's top executive is in Japan to meet government officials, aiming to resolve a dispute with Toshiba Corp over the Japanese company's planned sale of its chip business, sources familiar with the matter said on Tuesday. Toshiba and joint venture partner Western Digital are at loggerheads over the sale of the chip unit- the...

  • TOKYO, July 18- Toshiba Corp shares jumped by nearly a fifth on Tuesday after a U.S. hedge fund said it had added a stake and the Japanese conglomerate avoided an immediate court injunction on a planned $18 billion sale of its chip business. U.S. hedge fund Greenlight Capital, run by David Einhorn, said on Friday the stock may be worth as much as 400 yen once the company...

  • TOKYO, July 18- Toshiba Corp shares jumped by nearly a fifth on Tuesday after a U.S. hedge fund said it had added a stake and the Japanese conglomerate avoided an immediate court injunction on a planned $18 billion sale of its chip business. U.S. hedge fund Greenlight Capital, run by David Einhorn, said on Friday the stock may be worth as much as 400 yen once the company...

  • ORION TOWNSHIP, Mich./ DETROIT, July 17- General Motors Co has extended a shutdown at the Michigan factory that builds the new Chevrolet Bolt electric car as part of a broader effort to get control of bulging inventories of unsold vehicles in the United States. GM's vehicle inventory in the United States hit a 10- year high in June at 105 days supply.

  • ORION TOWNSHIP, Mich./ DETROIT, July 17- General Motors Co has extended a shutdown at the Michigan factory that builds the new Chevrolet Bolt electric car as part of a broader effort to get control of bulging inventories of unsold vehicles in the United States. GM's vehicle inventory in the United States hit a 10- year high in June at 105 days supply.

  • Valeant, which bought the Irvine, California- based Obagi for about $344 million in 2013, will sell the business to Haitong International Zhonghua Finance Acquisition Fund I LP. The drugmaker has been looking to reduce its debt pile of about $29 billion as of March 31, following a furious spate of deal-making under former CEO Mike Pearson. Valeant said last week...