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Leadership Business Events

  • TOKYO, June 26- Japan's Takata Corp decided on Monday to file for bankruptcy protection in Japan with liabilities of more than 1 trillion yen, Japanese media reported, as the auto parts supplier has struggled due to its defective air bag inflators at the centre of the auto industry's biggest ever product recall. Chapter 11- style bankruptcy protection...

  • Japanese air bag maker Takata Corp. has filed for bankruptcy protection in Tokyo and the U.S., overwhelmed by lawsuits and recall costs related to its production of defective air bag inflators linked to the deaths of at least 16 people. The company announced the move Monday morning Tokyo time. Takata confirmed that most of its assets will be bought by rival Key...

  • FRANKFURT, June 24- German insurer Allianz said it had agreed to sell its 90 percent stake in private bank Oldenburgische Landesbank to U.S. private equity firm Apollo for 300 million euros. Allianz, which announced the sale agreement on Friday, had said last September it was exploring options for OLB, Germany's largest regional private bank by assets.

  • FRANKFURT, Germany— The European Central Bank has pulled the plug on two troubled Italian banks, sending them into insolvency proceedings as it pushes ahead with efforts to clean up weak banks holding back the economy. The two banks, Veneto Banca and Banca Popolare di Vicenza, have struggled to overcome high levels of loans that were not being paid back.

  • *VW retirement offer to staff born 1955-60 expires July 31. WOLFSBURG, Germany, June 23- Volkswagen is reducing the workforce at its core division more rapidly than planned, its human resources chief said, helping the brand make progress on cost cuts needed to revive the business. To stoke demand for the measure, the carmaker has restricted until July 31 an offer to...

  • TOKYO, June 23- Toshiba Corp said it was open to talks with Western Digital Corp in their dispute over the sale of the Japanese conglomerate's prized chip unit- an apparent olive branch after it chose another suitor as preferred bidder. The softer tone from Toshiba comes on a day of further indignities as the crisis-wracked conglomerate saw itself demoted to the...

  • TOKYO, June 23- Toshiba Corp said it was open to talks with Western Digital Corp in their dispute over the sale of the Japanese conglomerate's prized chip unit- an apparent olive branch after it chose another suitor as preferred bidder. Toshiba would be willing to hold talks but does not expect the composition of the preferred bidder consortium, which includes...

  • TORONTO, June 22- Sears Canada Inc said on Thursday it plans to cut jobs and close about a quarter of its stores as it restructures its operations after a steady decline in sales due to competition from big-box retailers and online merchants. "It's just been baby steps toward the ultimate end," said Sally Seston, managing director at Retail Category Consultants...

  • TORONTO, June 22- Sears Canada Inc said on Thursday it plans to cut jobs and close about a quarter of its stores as it restructures its operations after a steady decline in its sales due to competition from big-box retailers and online merchants. "It's just been baby steps toward the ultimate end," said Sally Seston, managing director at Retail Category Consultants...

  • TORONTO, June 22- Sears Canada Inc said on Thursday it plans to cut jobs and close stores as it restructures its operations, following years of declining sales as it has lost customers to big-box retailers, more nimble apparel companies and online merchants. Existing lenders have agreed to provide up to C $450 million in interim financing to help the company,...

  • TORONTO, June 22- Sears Canada Inc said on Thursday it obtained court protection against creditors to proceed with a restructuring that will include store closures and layoffs as it seeks to recover from years of declining sales. Existing lenders have agreed to provide up to C $450 million in interim financing to help the company, controlled by billionaire...

  • TORONTO— Sears Canada said Thursday it is seeking court protection from its creditors in order to restructure its business. Sears Canada said Thursday it has applied to the Ontario Superior Court of Justice for protection under the Companies' Creditors Arrangement, a Canadian law that gives businesses a chance to operate under court supervision while...

  • TORONTO, June 22- Sears Canada Inc said on Thursday that it had filed for court protection against creditors as the retailer controlled by billionaire Eddie Lampert pursues a plan to restructure its operations. Sears Canada said in a statement that it was seeking protection so it could concentrate on a long-term effort to focus on selling discounted designer...

  • TOKYO, June 22- Takata Corp will seek bankruptcy protection from creditors on Monday, two sources said, as the Japanese company faces billions of dollars in liabilities stemming from the biggest recall in automotive history. The firm, whose defective air-bag inflators have been blamed for at least 16 deaths and more than 150 injuries worldwide, will file for...

  • LONDON, June 21- Diageo Plc has agreed to buy George Clooney's high-end tequila brand Casamigos in a deal valuing it at up to $1 billion, as the world's largest spirits maker seeks to boost its presence in a high-growth market. Diageo said on Wednesday it would pay $700 million initially for the company, co-founded by the American actor, with potential payment of a...

  • June 21- Clinical researcher and pharmaceutical market data specialist Quintiles IMS Holdings Inc is exploring a sale of its contract sales business that could value it at as much as $1 billion, according to people familiar with the matter. The sale process comes as Quintiles IMS seeks to prune some of its non-core businesses in the wake of the $17.6 billion...

  • President Donald Trump- when GM canceled the third shift at its Lordstown small-car factory here. Layoffs at Lordstown and other auto plants point to a broader challenge for the economy in Midwestern manufacturing states and for the Trump administration. "This is about economics, not what Trump says," said Robert Morales, president of United Auto Workers union...

  • TOKYO— Money-losing Toshiba Corp. said Wednesday that it has chosen a U.S.- Japan consortium as the preferred bidder in the sale of its lucrative memory chip business, but hurdles remain as an American joint-venture partner is opposing the move. Tokyo- based Toshiba said the board of directors selected the bid, totaling about 2 trillion yen, from the consortium...

  • TOKYO— Toshiba says a Japanese-US consortium is its preferred bidder for the sale of its memory chip business.

  • The sales, which aim to raise 6 billion reais, include a 19.2 percent stake in Brazil- based dairy company Vigor Alimentos SA, along with its Northern Ireland unit Moy Park Ltd and Five Rivers Cattle Feeding in North America. It is one of Britain's top 10 food companies, with 13 processing and manufacturing units in Northern Ireland, England, France, the Netherlands...