Leadership Business Events

  • Dec 1- Cummins Inc, a U.S. manufacturer of engines for large trucks, is preparing to explore the sale of a business that makes filters and coolants, potentially valuing it at more than $1.5 billion, according to people familiar with the matter. The move comes as weak heavy-duty truck production in North America and poor global demand for power generation equipment...

  • *Weekly jobless claims increase 17,000. WASHINGTON, Dec 1- The number of Americans filing for unemployment benefits rose more than expected last week, hitting the highest level in five months, but the underlying trend remained consistent with a healthy labor market. Initial claims for state unemployment benefits increased 17,000 to a seasonally adjusted...

  • INDIANAPOLIS— President-elect Donald Trump is set on Thursday to trumpet a deal with furnace and air conditioner manufacturer Carrier Corp. that would reduce the planned 1,400 job cuts at an Indianapolis factory that became a political cause during the presidential campaign. Feb. 10: Company officials announce plans to shutter the Indianapolis factory,...

  • WASHINGTON, Nov 30- President-elect Donald Trump faced criticism from an unusual source on Wednesday when a buttoned-down U.S. government ethics office issued an apparently sarcastic stream of Twitter messages applauding him for selling off his assets. Trump, in fact, has not said whether he will sell the hotels, golf courses and other businesses that make up...

  • Nov 30- GoPro Inc said on Wednesday it would cut about 15 percent of its workforce as the company restructures its once fast-growing action camera business. The company said it expects to incur about $24 million to $33 million in restructuring charges, mostly in its fourth quarter. GoPro's shares were up 2.7 percent at $10.10 in premarket trading.

  • PHOENIX— Electric car maker Lucid Motors said Tuesday it will build a manufacturing plant in Arizona that will begin production in 2018 as it looks to compete in the fast-growing market for luxury electric vehicles. The company said it chose the Casa Grande location from dozens of other spots around the country. Tesla Motors is building a sprawling battery...

  • SAO PAULO, Nov 29- Brazilian phone carrier Oi SA said on Tuesday that Dutch judicial authorities could compel bankruptcy proceedings for its two Netherlands- based units, which hold most of the company's bond debt. Oi said in a securities filing that it hoped that a bankruptcy process in the Netherlands, should it take place, would have no meaningful bearing on its...

  • AMSTERDAM, Nov 29- The days of the European conglomerate may be numbered, as activist shareholders are pressing diversified groups to spin off secondary businesses and focus on doing one thing well. "I think demergers and the destruction of conglomerates is the next major trend in the M&A market," said Christer Gardell, co-founder of Cevian, a Swedish-based...

  • AMSTERDAM, Nov 29- The days of the European conglomerate may be numbered, as activist shareholders are pressing diversified groups to spin off secondary businesses and focus on doing one thing well. "I think demergers and the destruction of conglomerates is the next major trend in the M&A market," said Christer Gardell, co-founder of Cevian, a Swedish-based...

  • AMSTERDAM, Nov 29- The days of the European conglomerate may be numbered, as activist shareholders are pressing diversified groups to spin off secondary businesses and focus on doing one thing well. "I think demergers and the destruction of conglomerates is the next major trend in the M&A market," said Christer Gardell, co-founder of Cevian, a Swedish-based...

  • Airbus Group, parent of the plane maker, faces months of negotiations with unions after presenting a reorganization plan to the works council Tuesday in Toulouse, France. The cuts will be spread across four countries, with 640 jobs cut in France, 429 in Germany, 54 in Britain and 39 in Spain, Airbus spokesman Jacques Rocca said. Airbus Group CEO Tom Enders stressed...

  • SAO PAULO, Nov 29- Brazilian phone company Oi SA said on Tuesday a court status protecting two Dutch subsidiaries from creditors could turn into a bankruptcy procedure in the Netherlands, potentially complicating its own court-supervised reorganization at home. "Oi hopes this does not impact significantly its in-court reorganization efforts in Brazil," Oi...

  • SAO PAULO, Nov 29- Brazil's Oi SA said on Tuesday a court process protecting two of its subsidiaries in the Netherlands from creditors could be converted into a bankruptcy process in that country, potentially complicating Oi's own court supervised reorganization in Brazil. The process in the Netherlands relates to Oi's two investment vehicles based in that...

  • SAO PAULO, Nov 29- The biggest shareholder in Oi SA, the Brazilian telephone carrier operating under bankruptcy court protection, is not opposed in principle to a share dilution, newspaper Valor Econômico cited an executive at the shareholder as saying. Pharol owns 27.5 percent of Oi's voting stock through Bratel BV, a wholly-owned subsidiary.

  • MUMBAI, Nov 28- Tata Steel UK, the British arm of India's Tata Steel, will hold exclusive talks with trading firm Liberty House to sell its speciality steel business as its parent seeks to offload loss-making assets and restructure European operations. Tata Steel, India's biggest steelmaker by overall capacity, has been trying to restructure its UK business,...

  • LONDON, Nov 25- Royal Dutch Shell is in advanced talks with a party interested in buying its onshore operations in Gabon as part of a $30 billion divestment plan following its purchase of BG Group, which was completed in February.. Bids for the Gabon fields, which one source estimated could be worth around $700 million, were due in June. Shell has been operating in...

  • LONDON, Nov 25- Royal Dutch Shell is in advanced talks with a party interested in buying its onshore operations in Gabon as part of a $30 billion divestment plan following its purchase of BG Group, which was completed in February.. Bids for the Gabon fields, which one source estimated could be worth around $700 million, were due in June. Shell has been operating in...

  • LONDON, Nov 24- Britain's biggest pizza delivery firm Domino's Pizza plans to increase its presence across the UK to 1,600 stores after seeing a strong performance from new outlets and a positive market outlook, it said on Thursday. Outside the UK, Domino's has also identified opportunities for a total of 400 stores, excluding its German joint venture, up from...

  • Nov 23- U.S. fashion jewelry and accessories budget retailer Charming Charlie LLC is seeking to hire a financial adviser to help find relief from its debt burden, according to people familiar with the matter. Charming Charlie has had investments from private equity firms TSG Consumer Partners and Hancock Park Associates. The Houston- based retailer has about...

  • CHICAGO, Nov 23- U.S. coal producer Peabody Energy Corp said on Wednesday it is closer to exiting bankruptcy, with a debt dispute between creditors fizzling as a recent increase in coal prices boosts their chances for recovery. A creditor fight launched by some of Wall Street's most litigious investment funds, Aurelius Capital Management and Elliott...