×

Business Strategy Strategic Alliances

  • Gatta, 41, an investment professional who worked at various private equity firms including Basso Capital Management and Pegasus Capital Advisors, will replace CEO Phil Rinaldi, who is retiring in March. Rinaldi has been CEO of the privately held company since 2010, when Carlyle Group and Sunoco formed a joint venture to rescue the Philadelphia refinery, the...

  • CALGARY, Alberta, Feb 21- ConocoPhillips Corp has revised down over a billion barrels of oil sands reserves because of low global crude prices, a company filing showed on Tuesday, the latest sign that some of Canada's vast hydrocarbon potential may be left untapped. Likewise Martin King, an analyst with GMP FirstEnergy in Calgary, said the debooking likely had...

  • BEIJING, Feb 20- China's Alibaba Group Holding Ltd said it formed a strategic partnership with Bailian Group, the largest retailer by store numbers to join the e-commerce giant's drive to use big data to improve and profit from brick-and-mortar sales. It has also spent $4.6 billion on a minority stake in appliances retailer Suning Commerce Group Co Ltd, is...

  • Feb 15- Kraft Heinz Co, the maker of Velveeta cheese, Heinz ketchup and Oscar Mayer meats, reported a higher-than-expected adjusted profit, helped by lower costs. Last month, the company said it would form a joint venture with media mogul Oprah Winfrey to develop a new line of food products in the United States. Sales fell 3.8 percent to $6.86 billion, hit by a stronger...

  • LONDON, Feb 14- Pernod Ricard would have to pass a proposed U.S. tax on imported goods onto consumers, the chief executive of the French spirits group said on Tuesday. "Retailers are saying, and we're fully in line with them, that the border adjustment tax is a consumer tax, a consumption tax," Alexandre Ricard told reporters in London. The lobby group, launched earlier...

  • NEW DELHI— French car manufacturer Peugeot has bought India's most iconic car brand from its maker Hindustan Motors in a deal that signifies the passing of an era in India's motoring history. Over the weekend, the C.K. Birla Group that owns Hindustan Motors said it had signed an agreement with Peugeot SA to sell the Ambassador for 800 million rupees.

  • JAKARTA/ TORONTO, Feb 10- Freeport-McMoRan Inc said on Friday that an export ban remains in place at its copper mine in Indonesia, the world's second-biggest, because it has not yet reached agreement with the government on a new mining permit. The government banned copper concentrate exports Jan. 12 to try and boost Indonesia's smelter industry.

  • JAKARTA/ TORONTO, Feb 10- Freeport-McMoRan Inc said on Friday an export ban remains in place on its copper mine in Indonesia, the world's second-biggest, because it has not yet reached agreement with the government on a new mining permit. The southeast Asian country banned copper concentrate exports Jan. 12 to try and boost the local smelter industry.

  • *Japan soothed by Mattis security assurances. *Japan hopes to update Trump's 1980 s image of trade. Some in Tokyo even worry that Trump, a global businessman and author of "The Art of the Deal," might eventually make some sort of pact with rival China that leaves Japan out in the cold.

  • Feb 4- Japan's Toyota Motor Corp and Suzuki Motor Corp are nearing a partnership agreement to develop technology, including self-driving, the Nikkei business daily reported on Saturday. The two Japanese automakers could announce a deal as soon as Monday, the Nikkei reported. The partnership will also cover areas such as development and procurement, which...

  • DAR ES SALAAM, Feb 3- Tanzania signed a deal worth $1.215 billion with a consortium of Turkish and Portuguese companies on Friday to construct a 300- kilometer railway line, part of plans by the east African country to boost trade with its land-locked neighbors. In total, Tanzania wants to build a 2,561 km standard gauge railway network connecting its main Indian...

  • HAMBANTOTA, Sri Lanka, Feb 2- China signed a deal with Sri Lanka late last year to further develop the strategic port of Hambantota and build a huge industrial zone nearby, a key part of Beijing's ambitions to create a modern-day " Silk Road" across Asia. As they try to reduce the country's debts, officials in Colombo see China's plans to include Sri Lanka on its "One Belt,...

  • SAN FRANCISCO, Jan 31- Uber Technologies Inc has signed another deal with a major automaker as the popular ride service accelerates efforts to build out one of the world's first fleets of autonomous vehicles. Uber on Tuesday announced a partnership with Germany's Daimler AG, maker of the luxury Mercedes-Benz cars and trucks. In the coming years, Daimler plans to...

  • LONDON, Jan 31- British online supermarket Ocado on Tuesday reported a 3.3 percent rise in full-year core earnings and said it was well positioned for growth, though there was no significant update on a long-awaited overseas deal. The firm, which sells products supplied by upmarket grocer Waitrose and also has a distribution agreement with Morrisons, said it...

  • LONDON, Jan 31- British online supermarket Ocado on Tuesday reported a 3.3 percent rise in full-year core earnings and said it was well positioned for growth, though there was no significant update on a long awaited overseas deal. The firm, whose range includes products supplied by upmarket grocer Waitrose and also has a distribution agreement with Morrisons,...

  • Jan 26- Citigroup Inc has quietly launched a website to make small business loans of up to $1 million, the latest effort by a big bank to make the process of smaller loans more technology-friendly. Banks have been cautious about entering the online lending space despite the proliferation of online non-bank lenders such as On Deck, LendingClub Corp Prosper...

  • Jan 27- Restaurant Brands International Inc said it would launch its coffee and doughnut chain, Tim Hortons, in Mexico as a part of its expansion plans. The joint venture company will be the master franchisee of Tim Hortons in Mexico, the company said. The move into Latin America comes after Tim Hortons, which has outlets in Canada, the United States and the Middle...

  • *China seen as most likely alternate source of funds. KUALA LUMPUR, Jan 27- Saudi Aramco's decision to shelve a plan to partner with Malaysia's state oil company threatens the country's ambitious plans for an oil and gas processing hub, which it may struggle to keep on course if it cannot find another foreign investor. The Saudi oil major suspended plans for a joint...

  • *Sees Q1 rev $12.25 bln- $13.25 bln, vs est $11.77 bln. The seeds and chemical maker said improving growth in the United States, Latin American and Europe, besides steady Asia growth, would boost demand in its packaging, consumer care, electronics, automotive and agriculture businesses. "We are seeing early signs of positive economic momentum, with the United States...

  • Excluding the Dow Corning transaction, Dow's sales rose 2.5 percent to $11.75 billion in the fourth quarter ended Dec. 31, with sales increasing in four of its five businesses. "We are seeing early signs of positive economic momentum, with the United States in expansionary mode, driven by the ongoing strength of the consumer and the tailwind of a new incoming...