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Leadership Business Events

  • NEW YORK, June 13- Time Inc said on Tuesday it is eliminating 300 positions, or 4 percent of its workforce, through layoffs and buyouts, according to an internal memo reviewed by Reuters. The cuts were being made as the New York- based media company, which publishes dozens of magazines including Time, Sports Illustrated and Fortune magazines, is looking to cut costs...

  • The cuts were being made as the New York- based media company, which publishes Time, Sports Illustrated and Fortune magazines, is looking to cut costs and reinvest in growth areas, according to the memo from Time Inc Chief Executive Officer Rich Battista to employees.

  • *Qatar National Bank pulls down Qatari index. *Emaar Properties supports Dubai market on spin-off plan. DUBAI, June 13- Gulf stock markets were mixed on Tuesday as Qatar fell back, still affected by other Gulf states' sanctions against Doha, while Abu Dhabi's Dana Gas soared on its proposal to restructure a $700 million sukuk.

  • LONDON, June 13- A group of International Bank of Azerbaijan creditors has filed an objection in a U.S. court against the state-run bank's $3.3 billion debt restructuring plan. Asset managers Fidelity Management& Research Company and Franklin Templeton Investment Management Ltd and hedge funds Promeritum Fund SPC and VR Global Partners LP are members of the...

  • June 13- U.S. retailer Sears Holdings Corp said on Tuesday it would cut 400 full-time jobs at its headquarters in Illinois as part of its plan to save more than $1 billion in costs annually. Sears said the bulk of the layoffs were related to its corporate workforce at its Hoffman Estates, Illinois headquarters. Sears said on Tuesday cost-cutting efforts had helped...

  • *Flannery to take over as CEO on Aug. 1, chairman on Dec. 31. GE said John Flannery, the head of its healthcare unit, would replace Immelt as CEO, effective Aug. 1, and as chairman after Immelt retires on Dec. 31. Immelt also oversaw the divestment of GE Capital- its massive lending unit- shifting the conglomerate's focus from finance to manufacturing, and bet on developing...

  • BEIJING, June 12- China's top state planner said it would tighten regulations for building new factories for traditional petrol-burning vehicles, as the country cracks down on "zombie" firms and pushes automakers to convert to non-polluting electric vehicles. China's central government sees electric vehicles as a way for its industry to leapfrog ahead of...

  • TORONTO, June 9- Canada's main stock index rose in morning trade on Friday, boosted by sharp gains for big banks as employment and industrial data pointed to renewed health in the domestic economy. But department store operator Hudson's Bay Co slumped 11.3 percent to C $8.53 after the owner of Saks Fifth Avenue detailed a major restructuring plan that will cut...

  • Shares of the Seattle- based clothing and accessories retailer ended 10.3 percent higher after having surged as much as 18 percent in their biggest intraday percentage gain since February 2009. Once it goes private, Nordstrom may be able to restructure its business, which is more difficult as a public company, said Erich Joachimsthaler, chief executive of...

  • Shares of the Seattle- based clothing and accessories retailer ended 10.3 percent higher after having surged as much as 18 percent in their biggest intraday percentage gain since February 2009. Once it goes private, Nordstrom may be able to restructure its business, which is more difficult as a public company, said Erich Joachimsthaler, chief executive of...

  • *Swiss banks used London as springboard to EU. The cutbacks come as the bank's Zurich neighbor UBS, the world's largest private bank, also considers moving hundreds of staff out of London as Britain prepares to embark on divorce talks with the European Union. For Credit Suisse, the job cuts, which will take its London staff to roughly 5,000, is part of a paring down of...

  • June 8- Yahoo Inc shareholders on Thursday approved the company's pending sale of its core internet business to Verizon Communications Inc for $4.48 billion, according to preliminary results from a shareholder meeting. Yahoo expects that the deal will close on June 13, 2017. The company also said it extended a tender offer to buy back up to $3 billion shares to...

  • *New loan includes previously borrowed 80 mln euros. ZAGREB, June 8- Indebted Croatian food group Agrokor has secured a 480 million euro loan, a government-appointed restructuring expert said on Thursday, giving a boost to his efforts to stabilise the biggest private sector employer in the Balkans. Ante Ramljak said the money was arranged by bondholders led by...

  • ZAGREB, June 8- Indebted Croatian food group Agrokor has secured a 480 million euro loan, a government-appointed restructuring expert said on Thursday, giving a boost to his efforts to stabilise the biggest private sector employer in the Balkans. Ante Ramljak said the money was arranged by bondholders led by Knighthead Capital Management and domestic banks,...

  • *Swiss banks used London as springboard to EU. The cutbacks come as the bank's Zurich neighbour UBS, the world's largest private bank, also considers moving hundreds of staff out of London as Britain prepares to embark on divorce talks with the European Union. For Credit Suisse, the job cuts, which will take its London staff to roughly 5,000, is part of a paring down...

  • *Pacific Equity Partners, Carlyle Group to buy iNova unit. June 8- Valeant Pharmaceuticals International Inc said it would sell its iNova Pharmaceuticals business for $930 million, as Chief Executive Officer Joseph Papa steps up efforts to slash the embattled Canadian drugmaker's huge debt pile. INova, which Valeant bought in 2011 from Australian private...

  • June 8- Embattled Canadian drugmaker Valeant Pharmaceuticals International Inc said on Thursday it would sell its iNova Pharmaceuticals business for $930 million in cash as it looks to pay down debt. The unit, which sells prescription and over-the-counter products, will be bought by a company jointly owned by Pacific Equity Partners and The Carlyle Group LP,...

  • SEATTLE, June 8- Boeing Co is streamlining its aircraft production systems at its largest factory, trying to cut costs to compete with rival Airbus and chip away at the near- $30 billion deficit created by its 787 Dreamliner. It poured $1 billion into erecting a 27- acre factory to make carbon composite wings for its forthcoming 777 X widebody jet.

  • TOKYO, June 7- Japan Display Inc is considering restructuring beyond cutting jobs and consolidating production, a person familiar with the matter said on Wednesday, as its late entry into OLED technology caused loss of business with Apple Inc.. Earlier in the day, Japan's Nikkei business daily reported the firm was looking at capital and business tie-ups, and...

  • TOKYO, June 7- Japan Display Inc is considering a deeper restructuring than it first announced, including seeking outside financial help, as its late entry into OLED technology has caused the loss of business with Apple Inc, the Nikkei business daily reported on Wednesday. Japan Display shares climbed 11 percent following the report of the latest possible...