Corporate Action

Lingering labour problems force Toyota Kirloskar to declare lockout

Lingering labour problems force Toyota Kirloskar to declare lockout

The failure of discussions between the labour union and the management of Toyota Kirloskar over wage concerns has led to the lockdown of two Toyota manufacturing plants in Bangalore. For the last 25 days, production work at two manufacturing units, with the combined production capacity of 3,10,000 units has come to a standstill.
 

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Major Cost-Cutting Drive at Siemens AG

Major Cost-Cutting Drive at Siemens AG

Siemens AG has announced that the largest engineering company in Europe will cut 15,000 jobs under cost-cutting program. Siemens will cut 5000 jobs in Germany and over 10,000 all over the world. Siemens has been facing lower profits and the company has issued two profit warnings in last fiscal.

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Microsoft Announces Higher Dividend; $40 billion Stock buyback

Microsoft Announces Higher Dividend; $40 billion Stock buyback

Software major Microsoft has announced $40 billion stock buyback and increased the dividend by 22 percent. Stock market analysts have termed the move as correct action for the software major. The company is also planning to put more effort in the mobile devices segment in coming years.

Microsoft stock was higher by one percent on Nasdaq and touched intraday high of $33.47 by the time of filing of this report. Microsoft stock is near its 52-week high of $36.43.

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Washington Post Goes to Bezos for $250 Million

Jeff Bezos, the founder of online retailing giant Amazon.com

Jeff Bezos, the founder of online retailing giant Amazon.com has agreed to buy the Washington Post for $250 million. Jeff Bezos has made the investment in his personal capacity and not from his company Amazon.com. The Washington Post Co. will sell its flagship newspaper but will keep the Kalpan education division and other businesses of the group.

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Facebook and Baidu Will Launch a Social Network in China

Facebook and Baidu Will Launch a Social Network in China

According to reports in the Chinese press, it has been revealed that Facebook Inc. has signed the deal with the Baidu Inc., the biggest Chinese search engine, to open up a social networking site in China. The site will not include the blocked Facebook in China, but a new social networking site.

However, the launch date of the website has not been decided yet, as they have not sought the approval of the Chinese government. They need to employ well-versed and experienced executives for the website.

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Peel Holdings Makes Takeover Approach to Pinewood for $88m

Peel Holdings Makes Takeover Approach to Pinewood for $88m

A whopping £88 million have been offered to the Pinewood Shepperton by the property giant Peel Holdings for acquisition.

It is the same group that that is responsible for the development of the MediaCityUK, and is one of the most prominent and diversified real estate, transport, and infrastructure companies situated in the United Kingdom.

The bosses at the Pinewood confirmed for the takeover offer from Peel Holdings. The Pinewood studios are the ones where the block-busters like James Bond and Harry Potter have been shot.

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Possible Merger between The Daily Mail And Express

Richard Desmond

It is expected that the Daily Mail and the Daily Express will be merging soon. They are in the middle of the discussions for a merger. If things go as planned by both the organizations there is a possibility of a tabloid tie-up.

The Daily Mail and the Daily Express are considered as the best newspapers in the United Kingdom. It has been confirmed that Richard Desmond, the chairman of Express owner Northern & Shell, and Lord Rothermere, Chairman of Daily Mail & General Trust (DMGT) have been discussing the possibilities of a merger from almost the beginning of this year.

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BP Agrees to Sell its Arco Aluminium Unit for $680m

BP Agrees to Sell its Arco Aluminium Unit for $680m

BP has agreed to sell its Arco Aluminium unit to a Japanese consortium for $680 million. The Japanese consortium is constituted of five Japanese companies.

BP has taken the decision to meet the cost of devastating oil spill in the Gulf of Mexico. The blast killed 11 workers and sent about 4.9 million barrels of oil gushing into the Gulf over a three-month period. The incident affected the economy and environment badly.

Arco Aluminium is a non strategic unit of BP which supplies aluminium sheet used to make beverage cans.

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Solvay Expects Soaring Profits With Rhodia Acquisition

Solvay

In a breakthrough business deal, the bosses at the Solvay have finally confirmed their decisions for the purchase of their French rival Rhodia.

The Belgian chemical company has bid for the French firm Rhodia for cash worth 3.4 billion euro that is near to $4.8 billion.

A market analyst at ING, Jan Hein De Vroe called the Rhodia as one of the cheapest and most easily accessible stock in the European chemicals space at present. He added that the acquisition of Rhodia by Solvay is a part of a well-planned strategy.

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CEO Shows Positive Attitude

Anheuser Busch-InBev purchased Goose Island

Anheuser Busch-InBev purchased Goose Island Beer Co. for around $38.8 million last week. This has been the highest sale price of a craft brewer till date.

Goose Island is very popular and is widely known for its flagships like 312 Urban Ale, Honkers Ale, and Matilda. They have also publicized for Bourbon County Scout.

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