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Leadership Business Events

  • DOVER, Del.— Japanese auto parts supplier Takata is asking a Delaware bankruptcy judge for an injunction prohibiting the governments of Hawaii, New Mexico and the U.S. Virgin Islands from prosecuting lawsuits involving the company's lethally defective air bag inflators. In a complaint filed Thursday, Takata also is seeking to extend the automatic halt of...

  • The layoffs were first reported by The Associated Press on Friday. SUNY Poly interim president Bahgat Sammakia said the terminated employees are all based in Albany and include support staff— but no research faculty and no employees at the institute's Utica campus. "We support President Sammakia's willingness to make the difficult strategic decisions...

  • *Group offers S $3.38/ shr cash, 25 pct premium over last price. SINGAPORE, July 14- Global Logistic Properties agreed to be acquired by a Chinese private equity consortium backed by senior GLP executives for about S $16 billion, choosing it over a rival bid in Asia's largest private equity buyout. The winning group of China's Hopu Investment Management, Hillhouse...

  • In a statement on Thursday, JBS said it had learned that Brazil's Regional Federal Court of the 1st Region overturned a ruling blocking the $300 million sale of a South American unit to rival Minerva SA. On June 21, federal Judge Ricardo Leite blocked JBS's sale of plants in Argentina, Paraguay and Uruguay, saying it could harm a probe against the billionaire...

  • LONDON, July 13- Britain's biggest mobile operator EE said it would open 100 new stores in Sainsbury's supermarkets and Argos general merchandise shops in the next two years, expanding its retail presence to nearly 700 stores. Chief Executive Marc Allera said the new stores would enable the company to provide more of the personal support and services its...

  • MOSCOW, July 13- The outlook for a restructuring of $2 billion of controversial borrowing by Mozambique state firms will be better next year as the southern African country receives more earnings from its energy resources, a senior Mozambican diplomat said. An International Monetary Fund delegation has landed in Mozambique to follow up on a damning external...

  • SANTIAGO, July 12- Chilean copper mine Collahuasi, a joint venture of Anglo American and Glencore, said on Wednesday it will cut 115 jobs, including executives, as part of a plan to boost efficiency amid low prices for the metal. Collahuasi, one of the world's largest copper mines, said in a statement that its staff had been structured when the mine was planning an...

  • SAO PAULO, July 12- Canada's Brookfield Asset Management has signed an exclusivity agreement to acquire power transmission lines owned by Brazil's J&F Investimentos SA, which is selling off assets to pay a record corruption-related fine, two people with knowledge of the matter said on Wednesday. J&F is accelerating the pace of talks to sell assets as...

  • WILMINGTON, Del., July 12- An attorney for Elliott Management on Wednesday complained to a bankruptcy court judge that the owner of Texas's largest power distribution business did not provide the investment fund with information needed to line up financing for its offer of more than $18 billion to buy the company. Instead, Energy Future Holdings Corp, the...

  • *Ceconomy CEO says wants to drive consolidation. DUESSELDORF, July 12- A German court gave retailer Metro the green light on Wednesday to split its food business from its consumer electronics division, a move it hopes will allow the independent companies to pursue more acquisitions. "Ceconomy will drive the transformation and consolidation of consumer...

  • SAN FRANCISCO— Children's clothing seller Gymboree Corp. is closing 350 stores as its works to restructure in bankruptcy. The San Francisco- based company said Tuesday that it's mostly closing Gymboree and Crazy 8 stores. It also operates Janie and Jack stores.

  • July 11- Dow Chemical Co said it had agreed to sell a portion of its corn seed business in Brazil to a unit of China's CITIC Ltd for $1.1 billion as it seeks to gain approval for its merger with DuPont from the country's antitrust regulator. Dow and DuPont announced the all-stock merger in December 2015 in one of the largest deals ever that was valued at $130 billion.

  • SIDNEY, Neb.— Cabela's shareholders are giving a nod to the sale of the outdoor outfitter to rival Bass Pro Shops for roughly $4 billion. Company officials have said they expect the sale to close later this year, but banking regulators must still approve the sale of Cabela's credit card unit, which is part of the deal. It's not yet clear how many of the roughly 2,000...

  • WASHINGTON— U.S. employers posted fewer job openings in May. Job openings fell 5 percent in May to 5.7 million, the Labor Department said Tuesday. Jed Kolko, an economist at the jobs site Indeed, said the report "shows what workers do in a tight labor market" in which there are more quits than layoffs and fewer unemployed workers for each job opening.

  • *Toshiba confirms it is in talks with other suitors. TOKYO, July 11- Toshiba Corp is in talks with Western Digital Corp and Taiwan's Foxconn, as well as with an already preferred bidder, as it seeks to revive a stalled $18 billion sale of its chip business, banking sources said on Tuesday. The Japanese conglomerate confirmed it was in talks with suitors, but did not name...

  • LONDON/ BENGALURU, July 11- India's Tata Steel said on Tuesday it had agreed to sell its pipe mills in the north of England to UK- based metals and industrial group Liberty House for an undisclosed sum. "With this sale, Tata Steel UK will complete its portfolio restructuring to focus on the strip products supply chain linked to Port Talbot," said Bimlendra Jha, CEO of...

  • LONDON, July 11- Britain's Pearson has agreed to sell a 22 percent stake in the book publisher Penguin Random House to joint venture partner Bertelsmann for around $1 billion to bolster its balance sheet and return cash to shareholders. Pearson, restructuring after a string of profit warnings from its education unit, said the sale would strengthen its balance...

  • July 10- Billionaire Eddie Lampert's ESL Partners LP and Fairholme Capital Management LLC said they are considering a potential deal with Sears Canada as the retailer looks to restructure itself under bankruptcy protection. Lampert is the chief executive of U.S.-based Sears Holdings Co, from which Sears Canada was spun off in 2012.. ESL Partners and...

  • Sears last week, after years of closing stores and retrenching, said it would close another 35 unprofitable Sears and Kmart locations. Hudson's Bay Co., which owns Saks Fifth Avenue, Lord and Taylor, said last month that it was cutting thousands of jobs in North America as sales slump. Abercrombie& Fitch Co., based in New Albany, Ohio, said that sales remain strong at...

  • NEW DELHI, July 9- India is considering selling state-owned Air India in parts to make it attractive to potential buyers, as it reviews options to divest the loss-making flagship carrier, several government officials familiar with the situation said. Air India- founded in the 1930 s and known to generations of Indians for its Maharajah mascot- is saddled with a...