Jean-Claude Arnobit
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UAW's Tentative Agreement With Ford Endorsed by Local Leaders, Richer than Contracts Agreed by UAW with Other Automakers
The local union leaders on the United Automobile Workers (UAW) National Ford Council have overwhelmingly approved the proposed tentative agreement with Ford Motor Company on Monday, according to a press release issued by UAW. The tentative agreement with Ford is slightly richer compared to the deals that UAW has secured with Fiat Chrysler Automobiles and General Motors Co (GM).
Yahoo Hires McKinsey & Co., Will Help Company Decide which Units to Shutter, Sell or Invest More
Yahoo Inc. has hired McKinsey & Co., a global management consultant firm, to help the company, people close to the situation told Re/code. The consultant firm will help Yahoo decide on which unit will it shutter, sell or invest more in.
Peabody Reached Agreement with New York Attorney General Regarding Risk Disclosure that Arises from Climate Change, End Misleading Statements
New York Attorney General Eric T. Schneiderman has announced in a press release that it has secured an agreement with Peabody Energy Corporation to end its misleading statement and to disclose to investors and shareholders the risks that arises from climate change.
Canadian Pacific to Explore Takeover of Norfolk Southern, Attempting to Consolidate the North American Railroad Industry
Canadian Pacific Railway Ltd. is exploring a takeover of U.S. carrier Norfolk Southern Corp., people familiar with the matter told Bloomberg. The move is an attempt to consolidate the North American railroad industry.
Several Retailers Will Still Open at 6 P.M. on Thanksgiving Day, Betting that Millions Still Want to Shop on that Day
Several of the biggest retailers in the U.S. will still be sticking to what’s become a Black Friday shopping tradition and open their stores at 6 p.m. on Thanksgiving Day, according to a report from USA Today. These retailers are betting that millions of people would still want to shop on Thanksgiving.
Lufthansa Announces Cancellation of 929 Flights Due to Labor Union Strike, Discussions on Retirement and Wage Issue Broke Down
Lufthansa AG, Germany’s airline, has canceled about 929 continental and intercontinental flights on Monday, November 9, 2015, according to travel information published by Lufthansa. The cancellations were due to the Independent Flight Attendant’s Organization (UFO) call for strike action, which is continuing for a third day, on Lufthansa’s flights to and from Frankfurt, Dusseldorf, and Munich.
Singapore Airlines to Buy Remaining Shares of Tiger Airways, Plans to Delist, Privatize Airline
Singapore Airlines (SIA) has announced in a press release that it is launching a voluntary conditional general offer for all the shares of Tiger Airways that it does not already own. SIA, who currently owns 55.8 percent of Tiger Airways, plans to delist and privatize the budget airline through the offer.
Several Volkswagen Engineers Admit Rigging CO2 Emissions, Goals Set by Former CEO Difficult To Achieve
Several engineers at Volkswagen have admitted to manipulating the carbon dioxide emissions data to pass the emission testing, according to a report from Reuters. The engineers rigged the carbon dioxide emissions because the goal set by former CEO Martin Winterkorn were difficult to achieve.
Weyerhaeuser to Buy Plum Creek, Create World's Premier Timber, Land and Forest Products Company
Weyerhaeuser Company, one of the world's largest private owners of timberlands, has announced in a press release that it would be acquiring Plum Creek Timber Co. The combination of the two companies would create the world’s premier timber, land and forest products company.
BPA Close to Releasing Decision on High-Powered Transmission Line Plan , BPA will Release Final Environmental Impact of the Plan
The Bonneville Power Administration (BPA) is close to releasing its decision regarding the high-powered transmission line between Washington and Oregon, according to a report from The Columbian. The BPA plans to release it’s a final environmental impact statement on the project by the end of the year.
Alibaba Acquires Youku Tudou, Looking to Stream More Content to Chinese Internet Users
Alibaba Group Holding Limited announced in a press release that it will be acquiring Youku Tudou, Inc. in an all-cash transaction. Jack Ma, the founder and executive chairman of Alibaba Group, is looking to stream more content to Chinese Internet through Youku.
Verizon Exploring the Sale its Enterprise Business, Looks to Focus on Core Business
Verizon Communications Inc. is looking to sell its enterprise business, which could be worth as much as $10 billion, people familiar with the matter told Reuters. The largest wireless carrier in the U.S. is looking to focus more on its core business.
Thanksgiving Air Travel to Rise to 25.3 Million Passengers, Highest Since the Great Recession
Airlines for America (A4A), the industry trade organization for the leading U.S. airlines, said in a press release that the air travel during the 12-day Thanksgiving travel period this year is projected to increase 3 percent from the 24.5 million estimated in 2014. The projected 25.3 million passengers that will travel globally on U.S. airlines is the highest number since the Great Recession.
UAW Reaches Tentative Agreement with Ford, Agreement to be Reviewed by Local Union Leaders
The United Automobile Workers (UAW) union have reached a proposed tentative agreement on labor contracts with Ford Motor Company, according to a press release issued by the UAW. The bargaining team of UAW has voted unanimously to send the proposed tentative agreement to local union leaders who make up UAW’s National Ford Council (NFC) for review.
Goldman Sachs to Promote Junior Bankers Quicker, Part of Effort to Retain Talent
Goldman Sachs Group Inc. has unveiled a series of changes within the company, including promoting junior bankers quicker, according to a report from Reuters. The company is looking to retain more talent with its series of changes.
Boeing and Lockheed Martin Protests Awarding of Bomber Contract to Northrop, Asks the Government Accountability Office to Review the Decision
Boeing Company and Lockheed Martin have filed a formal complaint, protesting the awarding of the Long Range Strike-Bomber (LRS-B) contract to Northrop Grumman, according to a press release issued by Boeing. The two companies are asking the Government Accountability Office (GAO) to review the decision to award the contract.
Lockheed Martin Completes Acquisition of Sikorsky, Advances its Commitment to Provide Affordable and Efficient Mission-Ready Solutions
Lockheed Martin announced in a press release that they have completed the acquisition of Sikorsky Aircraft, a world leader in military and commercial rotary-wing aircraft. The acquisition advances Lockheed’s commitment to providing customers with affordable and efficient mission-ready solutions.
The Washington Metropolitan Area Transit Names Paul Wiedefeld New GM and CEO, Will Take Over Troubled Transit
The Washington Metropolitan Area Transit Authority (WMATA) has hired Paul Wiedefeld, the former CEO of Baltimore’s international airport, to be their new general manager and CEO, according to a press release issued by WMATA. Wiedefeld will be taking over a troubled a mass transit authority that is plagued by operational problems and worsening financial woes.
United Continental CEO Plans to Return on Early 2016 Following Heart Attack, Ends Uncertainty on Who will Run the Airline
Oscar Munoz, the president and CEO of United Continental Holdings Inc. said in a statement published on the company’s website that he plans to return to work in the first quarter of 2016. Munoz’s plan to return ends any uncertainty on who will lead the airline.
Virgin America Launches Flight to Hawaii, Celebrates its Launch with Partnership with Airbnb
Virgin America has announced in a press release that it has launched its first flight from San Francisco to Hawaii on Monday, November 2, 2015. The airline will be flying to Hawaii using its newest Airbus A320 aircraft that is equipped with fuel-saving “sharklet” wingtip devices. In connection with its first flight to Hawaii, Virgin America also announced a partnership with Airbnb, the first partnership program of its kind.
Coty Acquires Personal Care and Beauty Business of Hypermarcas for about $1 Billion in Cash, Provides Coty with Critical Mass Platform in Brazil
Coty, Inc. announced in a press release that it will be acquiring the personal care and beauty business of Hypermarcas S.A. for approximately $1 billion. The acquisition gives Coty a critical mass platform in Brazil.
Target Closing 13 Stores in the U.S., Falling Profits Reason for Closures
Target Corporation will be closing 13 of its stores across the U.S. on January 31, 2016, according to a report from CNN Money. The retail giant cited falling profits as the reason for the closure of the stores.
Regulators Increases Crackdown Against Abusive Debt Collectors In 1st Act Of Federal-State Enforcement Initiative
The Federal Trade Commission (FTC) and other law enforcement authorities around the country have announced a nationwide crackdown against abusive debt collectors, according to a press release issued by the FTC. The announcement is the first ever coordinated federal-state enforcement initiative against deceptive and abusive debt collection practices.
Southwest Pilots Reject Tentative Agreement with Southwest Airlines, Pilots' Association to Return to the Negotiating Table with the Airline
The members of the Southwest Airlines Pilots’ Association rejected the tentative agreement on a new labor contract the pilots' association made with Southwest Airlines, according to a press release issued by the pilots' association. The pilots’ association will return to the negotiating table with the airline to come up with a new labor contract.
Kraft Heinz to Close 7 Plants, Cut 2,600 Jobs, Company Looking to Cut Costs
Kraft Heinz Co., will be closing down seven factories and laying off about 2,600 employees in North America, according to a report from USA Today. The move is part of the company’s efforts to cut costs.
Airbnb Wins Battle in San Francisco, Plans to Create 100 Home-Sharing Political Clubs in 100 U.S. Cities
Voters in the city of San Francisco have soundly rejected Proposition F, a measure that would have limited short-term housing rentals to 75 nights a year, according to a report from The Wall Street Journal. The result is a victory for Airbnb Inc., who waged a sophisticated political campaign to defeat the initiative. The home-sharing site plans to launch a national campaign and create 100 home-sharing political clubs in 100 U.S. cities in 2016.
Expedia to Acquire HomeAway for about $3.9 Billion in a Cash and Stock Transaction, Better Compete Against Airbnb
Expedia, Inc. announced in a press release that it will be acquiring HomeAway, Inc. for approximately $3.9 billion in a cash and stock transaction. The transaction is seen as Expedia’s way of trying to compete better with apartment-sharing app Airbnb Inc.
BlackRock Acquires BofA's $87 Billion Cash Assets, Strengthens Cash Distribution Relationship
BlackRock, Inc. has announced in a press release that it has agreed for Bank of America Global Capital Management to transfer its investment management responsibilities of approximately $87 billion of assets under management to BlackRock. The transaction combines BlackRock’s expertise in global cash management and product suite with BofA Global Capital Management’s strength in client relationships.
RBC Completes Acquisition of City National, Will Hire More Bankers
Royal Bank of Canada (RBC) has announced in a press release that it has completed the $5 billion acquisition of City National Corporation. The bank plans to hire more than 100 bankers and open another office in New York as it seeks to expand City National.
Amazon.com Introduces Amazon Books, Opens its First Real Bookstore at University Village
Amazon.com, Inc. introduces Amazon Books, a brick and mortar bookstore, located at Seattle’s University Village in a note to its online customers. Amazon Books is the online retailer’s first real bookstore in its 20-years of selling books online and it first opened on Tuesday, November 3, 2015.
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