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Leadership Business Events

  • Fnac's Brazil arm is among several Brazilian appliance and consumer electronics retailers up for sale after their traditional set-up of brick-and-mortar outlets with lots of floor space and slow inventory turnover has become increasingly unsustainable in Brazil's worst recession on record. Fnac's presence in Brazil dates back to 1999.

  • *UK Horlicks and MaxiNutrition combined sales 30 mln pounds. LONDON, July 19- GlaxoSmithKline said it was considering the sale of its cephalosporins antibiotics business and intended to divest its small Horlicks business in Britain, while retaining the much bigger malted drink operation in India. In addition, GSK announced just over 300 job losses on...

  • WASHINGTON, July 19- Advocacy groups launched petitions and sent letters on Wednesday urging two of the biggest U.S. public pension funds to divest from an investment fund unless it stops paying one of President Donald Trump's companies to run a New York hotel. Reuters reported on April 26 that public pension funds in at least seven U.S. states periodically send...

  • Halting the litigation would help Takata sell its healthy business to Key Safety Systems, which is owned by China's Ningbo Joyson Electronic Corp, according to TK Holdings Inc, the U.S. unit. Funds from that $1.6 billion proposed sale will be used to compensate injured drivers, according to court papers filed in the U.S. Bankruptcy Court in Wilmington, Delaware.

  • NEW YORK, July 18- After three years of futile efforts to restructure some $9 billion of debt at Puerto Rico's PREPA, creditors of the now-bankrupt power utility are asking a U.S. federal judge to appoint a receiver to manage PREPA's assets. Political appointees of Puerto Rico's Governor Ricardo Rossello, they argued, cannot be trusted to do so.

  • TOKYO, July 18- Western Digital Corp's top executive is in Japan to meet government officials, aiming to resolve a dispute with Toshiba Corp over the Japanese company's planned sale of its chip business, sources familiar with the matter said on Tuesday. In June, Toshiba announced its preferred bidder was a group made up of Japanese-government backed funds, Bain...

  • TOKYO, July 18- Western Digital Corp's top executive is in Japan to meet government officials, aiming to resolve a dispute with Toshiba Corp over the Japanese company's planned sale of its chip business, sources familiar with the matter said on Tuesday. Toshiba and joint venture partner Western Digital are at loggerheads over the sale of the chip unit- the...

  • TOKYO, July 18- Toshiba Corp shares jumped by nearly a fifth on Tuesday after a U.S. hedge fund said it had added a stake and the Japanese conglomerate avoided an immediate court injunction on a planned $18 billion sale of its chip business. U.S. hedge fund Greenlight Capital, run by David Einhorn, said on Friday the stock may be worth as much as 400 yen once the company...

  • TOKYO, July 18- Toshiba Corp shares jumped by nearly a fifth on Tuesday after a U.S. hedge fund said it had added a stake and the Japanese conglomerate avoided an immediate court injunction on a planned $18 billion sale of its chip business. U.S. hedge fund Greenlight Capital, run by David Einhorn, said on Friday the stock may be worth as much as 400 yen once the company...

  • ORION TOWNSHIP, Mich./ DETROIT, July 17- General Motors Co has extended a shutdown at the Michigan factory that builds the new Chevrolet Bolt electric car as part of a broader effort to get control of bulging inventories of unsold vehicles in the United States. GM's vehicle inventory in the United States hit a 10- year high in June at 105 days supply.

  • ORION TOWNSHIP, Mich./ DETROIT, July 17- General Motors Co has extended a shutdown at the Michigan factory that builds the new Chevrolet Bolt electric car as part of a broader effort to get control of bulging inventories of unsold vehicles in the United States. GM's vehicle inventory in the United States hit a 10- year high in June at 105 days supply.

  • Valeant, which bought the Irvine, California- based Obagi for about $344 million in 2013, will sell the business to Haitong International Zhonghua Finance Acquisition Fund I LP. The drugmaker has been looking to reduce its debt pile of about $29 billion as of March 31, following a furious spate of deal-making under former CEO Mike Pearson. Valeant said last week...

  • WILMINGTON, Del./ NEW YORK, July 17- The global recall of Takata Corp's defective air bags widened last week and the number of confirmed deaths rose, but legal experts said the bigger worry for car companies caught in the fallout is playing out in a Delaware bankruptcy courtroom. The car companies have been trying to use the bankruptcy to limit their liability for...

  • July 14- Hedge fund Greenlight Capital said on Friday that it had added a stake in Toshiba Corp as it expects the stock to rise once the Japanese company resolves uncertainties around its bankrupt Westinghouse unit and the sale of its memory business. The Japanese conglomerate, whose stock closed at 231.6 yen per share on Friday, may be worth as much as 400 yen per...

  • *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...