Leadership Business Events

  • SAO PAULO/ DETROIT, Feb 19- Ford Motor Co said on Tuesday it will close its oldest factory in Brazil and exit its heavy commercial truck business in South America, a move that could cost more than 2,700 jobs as part of a restructuring meant to end losses around the world. Following that announcement, analysts and investors had expected a similar restructuring in...

  • SAO PAULO/ DETROIT, Feb 19- Ford Motor Co said on Tuesday it would exit its heavy commercial truck business in South America in a plant closing that could cost more than 2,700 jobs, part of a global restructuring meant to end losses in different regions. The factory in Sao Bernardo do Campo, an industrial suburb of Sao Paulo, has operated since 1967 and was Ford's first...

  • *Latest example of Japanese firm pulling out of Britain. The automaker, which builds more than a tenth of the 1.5 million cars made in Britain, said the move was not related to Brexit and it needed to focus activities in regions where it expects to sell most cars, after struggling in Europe. But the timing of the announcement about the Swindon plant, just 38 days before...

  • *Latest example of Japanese firm pulling out of Britain. *Britain due to leave the EU in 38 days. Honda, which builds its Civic car in Britain and Turkey, said it would stop making the model in both countries.

  • *Honda's Swindon plant builds one in ten UK cars. Honda built just over 160,000 vehicles at its Swindon factory in southern England last year, where it makes the Civic and CV-R models, accounting for a little more than 10 percent of Britain's total output of 1.52 million cars. But it has struggled in Europe in recent years, and the industry faces a number of...

  • The U.S. Court of Appeals for the First Circuit set a 90- day period to allow President Donald Trump and the U.S. Senate to constitutionally validate the appointments or reconstitute the board. U.S. District Court Judge Laura Taylor Swain, who is hearing the island's bankruptcy, ruled in July that the creation by the U.S. Congress of the oversight board under a law...

  • JOHANNESBURG, Feb 14- Sibanye-Stillwater could cut nearly 6,000 jobs in a potential restructuring of the company's gold mining operations following losses at some of its mines last year. The company, which has both gold and platinum mines in South Africa, employs more than 61,000 people in its local operations. Gold producers in South Africa have had their...

  • Feb 14- Troubled outsourcing group Interserve would have to pay 66 million pound immediately to lenders if its largest shareholder Coltrane blocks the debt restructuring deal and removes some board members, Sky News reported on Thursday. The company will also have to repay "tens of millions of pounds" if its Chief Financial Officer Mark Whiteling is removed...

  • LONDON, Feb 14- Amazon has secured central London retail space for its checkout-free Amazon Go food stores concept, The Grocer reported, in what would be the company's first expansion of its automated convenience shops outside the United States. A spokesman for Amazon in the UK declined to comment on the report. In that sense they would compete with chains such as...

  • *Credit Suisse posts 2.1 bln Sfr FY net profit, first since 2014. ZURICH, Feb 14- Credit Suisse posted its first annual profit in four years on Thursday as a long-running restructuring plan made its mark but Switzerland's second-biggest bank warned of significant uncertainty on how markets will fare in the months ahead. Calling the fourth quarter a "stress test"...

  • JOHANNESBURG, Feb 14- South Africa's Sibanye-Stillwater said on Thursday it could cut nearly 6,000 jobs as it considers restructuring its struggling gold mining operations. Gold producers in Africa's most industrialised economy, which have some of the world's deepest mines, have seen profits squeezed by rising costs, labour unrest and declining grades.

  • ATHENS, Feb 14- Greek jewellery maker Folli Follie's board has approved a revised restructuring plan proposed by a group of bondholders in a bid to save it from collapse. A Folli source told Reuters the board of directors approved the plan on Wednesday following fresh talks with some of the bondholders in Athens. Folli announced details of its restructuring in...

  • ATHENS, Feb 14- Greek jewelry maker Folli Follie's board has approved a revised restructuring plan proposed by a group of bondholders in a bid to save it from collapse. A Folli source told Reuters the board of directors approved the plan on Wednesday following fresh talks with some of the bondholders in Athens. Folli announced details of its restructuring in...

  • ABU DHABI, Feb 14- Etihad Airways said on Thursday it has agreed with Airbus and Boeing to restructure a "large portion" of its orders, in what appeared to be a major cut in long-haul jet orders. The Abu Dhabi- owned airline said in a statement that it has committed to take delivery of five Airbus A350-1000s and 26 A321neos plus six Boeing 777-9 s "over the coming years."

  • Feb 13- A key supplier of talc used in Johnson& Johnson's baby powder filed for Chapter 11 bankruptcy on Wednesday in the wake of multibillion-dollar lawsuits alleging its products caused ovarian cancer and asbestos-related mesothelioma. Imerys Talc America, the U.S. unit of French group Imerys SA, said it filed for bankruptcy because it lacks the financial...

  • Feb 13- A key supplier of talc used in Johnson& Johnson's baby powder filed for Chapter 11 bankruptcy on Wednesday in the wake of multibillion-dollar lawsuits alleging its products caused ovarian cancer and asbestos-related mesothelioma. In July, a Missouri jury ordered J&J to pay a record $4.69 billion to 22 women who said asbestos in talc caused ovarian...

  • Feb 13- Imerys Talc America, the U.S. unit of French group Imerys SA and a supplier to healthcare conglomerate Johnson& Johnson Inc, on Wednesday said it was filing for Chapter 11 bankruptcy protection in light of rising costs in the litigation over cosmetic talc. "After carefully evaluating all possible options, we determined that pursuing Chapter 11 protection...

  • J&J SUPPLIER IMERYS TALC AMERICA TO FILE FOR VOLUNTARY CHAPTER 11 PROTECTION.

  • Feb 13- Imerys Talc America Inc, a supplier to healthcare conglomerate Johnson and Johnson Inc, said in a statement on Wednesday it was filing for Chapter 11 bankruptcy protection along with two subsidiaries.

  • However, the company's profit beat estimates by a cent and the game publisher announced a new share buyback program of up to $1.5 billion, while saying it would cut about 800 jobs to focus on developing its games franchises, sending its shares up 3 percent in after-market trading. As part of the restructuring actions, Activision expects to incur a pre-tax charge...