Jean-Claude Arnobit
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Ford-UAW Labor Contract Provides Good Foundation to Create Stronger Business, Staffing Flexibility, Effective Labor Cost Structure
Ford Motor Company has said in a press release that the recently ratified contract between the automaker and the United Auto Workers (UAW) represented employees provides a good foundation for the company to create an even stronger business in the years ahead. The new contract aligns with Ford’s labor cost structure and provides flexibility in terms of hiring more staff.
Petrobras Chairman Murilo Ferreira Steps Down Following Brazil Dam Disaster, Ferreira has been on Leave Since September
Petróleo Brasileiro S.A. has announced in a press release that Murilo Pinto de Oliveira Ferreira has resigned from his position as chairman of the company. Ferreira has been on a leave of absence from the company since September 14, 2015. The Wall Street Journal said that Ferreira’s resignation also comes as he deals with the implications of a catastrophic accident at Vale SA, a mining giant.
Tribune Publishing Denies Rumors of Sale, Company Not Engaged in Discussions or Process to Sell
The Tribune Publishing Co. denied the media speculation in a statement to its employees that the company is being sold and the spinoff of the Los Angeles Times, according to a report from the Chicago Tribune. The company said in the statement that it is “not engaged in any discussions or a process to sell the company.”
Swatch Partners with Visa, Allows Visa Cardholders to Pay with Swatch's New Pay-By-The-Wrist Watch
The Swatch Group Ltd. has announced in a press release that Swatch SA has signed an agreement with Visa, Inc. and Visa Europe about a partnership. The partnership will allow Visa cardholders in the U.S., Switzerland and Brazil the ability to tap and pay with Swatch’s new “pay-by-the-wrist” watch called Swatch Bellamy.
AB InBev to Sell Peroni and Grolsch, Looks to Smoothen Merger with SABMiller
Anheuser-Busch InBev (AB InBev) is planning to sell the Peroni and Grolsch brands that it would gain following its acquisition of SABMiller PLC, a person familiar with the matter told the Financial Times. The proposed transaction is AB InBev’s attempt to head off European regulatory concerns that may arise with its merger with SABMiller.
Murdoch Says Tribune Papers Likely to be Sold, LA Times to be Split Off
Rupert Murdoch, the executive chairman of News Corp., said in a tweet on his Twitter account that he had “strong word” that Tribune Publishing Co.’s newspaper group will bought by a “big Wall Street firm.” He also said that the Los Angeles Times would be split off and be purchased by philanthropist Eli Broad and local group.
Lufthansa Agrees to Pay Deal with 33,000 Personnel, Seeks to Avoid Further Strike
Deutsche Lufthansa AG has reached an agreement with Verdi, a trade union, with regards to the wages and pensions of about 33,000 ground crew and other personnel, according to a report from The Wall Street Journal. The German airline has agreed to pay its workers as it looks to avoid further strikes.
Last Boeing C-17 Departs Long Beach Facility, Marks End of Aircraft Production in Southern California
Boeing Company has announced in a press release that its final C-17 Globemaster III military aircraft has departed the company’s plant in Long Beach, California on Sunday, November 29, 2015. The departure marks the end of the aircraft production in Long Beach.
Merck Weighing Sale of Allergy Business, Looks to Reduce Debt
Merck KGaA, a German drugs and chemicals maker, is considering the sale of its allergy business Allergopharma, people with knowledge of the matter told Bloomberg. The German company is looking to reduce its debt following the $17 billion acquisition of Sigma-Aldrich Corp.
Bank of America to Stop Supplying Dollar Bills to Angola, Residents are Encouraged to Use Euros, or Other Currencies Instead
Bank of America Corp. (BofA), who provides most of the dollar notes dispensed by banks in Angola, is stopping the supply of U.S. dollar bills to banks in Angola, two people familiar with the matter told Bloomberg. Angolan banks are encouraging residents to start using euros, South African or Chinese currencies instead as greenbacks become scarce.
NextEra to Sell Fossil Generating Assets in Texas for $1.59 Billion, Reduce Exposure in the Power Business
NextEra Energy Inc. has announced in a press release that its affiliate NextEra Energy Resources LLC will be selling its ownership interest in two fossil generating assets in Texas to an affiliate of Energy Future Holdings. The transaction will help the energy company reduce its exposure in the competitive power business.
LG Display to Invest in OLED Panels, Build New Plant
LG Display Co. has announced in a press release that it will be investing 1.84 trillion won, or about $1.59 billion to begin building a new OLED panel plant in Paju, Gyeonggi Provine, Korea.
Neiman Marcus Website Suffers Outage on Black Friday, Affects the Company During Holiday Shopping
Neiman Marcus, an American luxury specialty department store, has suffered an outage on Black Friday, according to a report from CNBC. The outage could dampen on Neiman Marcus’ sales performance during the holiday shopping season.
Bang & Olufsen Reviewing Takeover Bid, Shares Rise More than 30 Percent
Ole G. Andersen, the chairman of Bang & Olufsen A/S, a Danish maker of high-end stereo and TV, have confirmed in a statement that it has received offer for a possible takeover and is reviewing this offer.
Durable Goods Orders in the U.S. Rise 3 Percent in October
New orders for manufactured durable goods in the U.S. have increased a seasonally adjusted three percent in October, following two consecutive months of decreases, according to a news release issued by the U.S. Census Bureau.
Disney's Cable Channels Losing Millions of Subscribers, with ESPN Losing 7 Million Subscribers in Just 2 Years
The Walt Disney Company has been losing millions of subscribers for its cable channels, according to a report from CNN Money. ESPN, its most popular channel, in particular, has lost seven million subscribers in just two years.
Mortgage Rate Eases Slightly, Hasn't Surged Above 4 Percent Since July 23
Freddie Mac said in a press release that their Primary Mortgage Market Survey show mortgage rates have slightly declined leading up to the Thanksgiving holiday. The rates, though, have yet to rise above four percent since July 23, 2015.
U.S. New Home Sales Rebound in October
The U.S. Consensus Bureau has said in a news release that new single-family house sales in October have risen by 10.7 percent from September’s numbers.
Amgen Files for U.S. Approval of Biosimilar Candidate to Himura, First Biosimilar Application of Company
Amgen Inc. has announced in a press release the submission of a Biologics License Application to the U.S. Food and Drug Administration (FDA) for ABP 501, a biosimilar candidate to Humira, or adalimumab, an anti-TNF-α monoclonal antibody. The application is Amgen’s first Biologics License Application submitted using the 351 (k) biosimilar pathway.
PetroChina to Sell Stake at Trans-Asia Gas Pipeline, Seeks to Meet Year-End Profit Target
PetroChina Co., a Chinese state-controlled oil company, is planning to sell its stake in Trans-Asia Gas Pipeline Co. for as much as 15.5 billion yuan or $2.4 billion, according to a report from Bloomberg. The sale is due to the biggest oil and gas producer in China seeking to meet its year-end profit targets and focus on exploration as energy prices continue to slump.
FTC Approves NXP's Acquisition of Freescale, Requires NXP to Divest Radio Frequency Power Assets
The Federal Trade Commission (FTC) has approved the NXP Semiconductor N.V.’s proposed acquisition of Freescale Semiconductor Ltd. for $11.8 billion, according to a press release issued by the FTC. The approval, though, comes with a condition that NXP will divest its radio frequency power assets.
Owner of New Hampshire Waterpark Leaves Slide Tower, Fails to Find Investors
Kevin Dumont, the owner of a water park in New Hampshire, has decided to leave the slide tower after 17 days of chaining himself to the tower, according to a report from ABC News. Dumont ended his quest due to failing health and the lack of a financial investor.
Shire Prepares New Bid for Baxalta, Will Create One of the World's Leading Specialist in Rare Disease if Bid Succeeds
Shire Plc, a company that develops and delivers innovative medicines for patients with rare disease, is preparing to make a new takeover offer to Baxalta, Inc., a source with direct knowledge of the matter told Reuters. The acquisition, if successful, will create one of the world’s leading specialists in rare disease.
Alibaba Group Founder Jack Ma in Talks to Acquire Stake in Hong Kong Newspaper, Latest Internet Tycoon to Revive Traditional Newspaper
Jack Ma, the founder and chairman of Alibaba Group Holding Ltd., is in talks to acquire a stake at South China Morning Post (SCMP), a Hong Kong newspaper company, people familiar with the matter told Bloomberg. The move would make Ma the latest Internet tycoon to try and revive the traditional newspaper.
Pinnacle Foods to Acquire Boulder Brands, Expands Pinnacle's Presence in Health and Wellness Categories
Pinnacle Foods Inc. has announced in a press release that it will be acquiring Boulder Brands, Inc. for approximately $710 million. The acquisition will expand Pinnacle’s presence in growing and complementary health and wellness categories.
Elliot Management Takes 6.4 Percent Stake in Alcoa, Eyes Opportunities to Improve Company's Profit Margins
Elliot Management Corporation has disclosed that they have taken a 6.4 percent stake in Alcoa Inc., according to a report from Reuters.
Pershing Square Increases Stake in Valeant Pharmaceuticals, Showing Bill Ackman's Commitment to Drugmaker
Bill Ackman’s Pershing Square Capital Management, L.P. has disclosed that it increased its beneficial ownership of Valeant Pharmaceuticals International, Inc. to 9.9 percent shares outstanding. The transaction highlights the activist investor’s commitment to the drug maker despite its stock being battered.
Apple Planning to Launch Apple Pay in China, Hopes to Launch Electronic-Payment Service before February 8
Apple Inc. is planning to launch its new Apple Pay electronic-payment service in China by next year, people familiar with the discussions told The Wall Street Journal. Apple is hoping to launch the electronic-payment service before February 8, 2016, before China’s Spring Festival Holiday.
Carl Icahn Acquires 7.1 Percent Stake in Xerox, Claims Company Is 'Undervalued'
Carl Icahn has disclosed on Monday that he has accumulated a 7.1 percent stake at Xerox Corporation, according to a report from The Wall Street Journal.
Fiat Chrysler Expands Tuition Assistance to Employee Spouses and Children
Fiat Chrysler Automobiles has expanded the free tuition benefit to all its dealership employees nationally, including their spouse and children, according to a report from Fortune.
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