The head of France’s largest employers’ union on Thursday slammed as “blackmail” a threat by the state to take over a plant owned by steel tycoon Lakshmi Mittal, amid outrage in Mittal’s native India that he was a victim of racism.
PARIS—France asserted on Wednesday that an investor was ready and willing to put 400 million euros ($515 million) into a steel plant at the center of a dispute between the owner ArcelorMittal and the government. The Socialist administration has threatened to nationalize the Florange plant in northeastern France if Mittal goes ahead with plans [...]
PARIS—French President Francois Hollande threatened Tuesday to nationalize a plant owned by steelmaker ArcelorMittal in an increasingly heated dispute in which ministers have said the multinational is no longer welcome in the country. Moments before talks steel tycoon Lakshmi Mittal, Holland said that nationalizing ArcelorMittal’s plant in northeastern France remained on the table. [...]
Sony Corp. reported Thursday a smaller flow of red ink for the fiscal second quarter on a sales recovery and restructuring efforts and stuck to its full year forecast for a return to profit from its worst loss in company history the previous year.
Listed firm IPVG Corp. has signed a deal for a venture in the business of refining metals and oil products—the latest development in the company’s restructuring program.
The privately held Ortigas property group, one of Metro Manila’s biggest landlords, has restructured its core unit into a new corporate entity to prepare for either the entry of a new strategic investor or a stock market debut.
The world’s largest mobile phone maker Nokia said Thursday it planned to cut 3,500 jobs in Romania, Germany and the United States by the end of 2012.
Benguet Corp. said Wednesday that it plans to implement within the year a quasi-reorganization and equity restructuring. The company will use the revaluation increments in its landholdings and capital surplus to wipe out its negative retained earnings. This will significantly improve its balance sheet by reversing the deficit and showing substantial positive retained earnings balance [...]
WASHINGTON—US media conglomerate McGraw-Hill announced Monday it was splitting into two separate companies, one of which will be built around rating agency Standard & Poor’s. “Our Growth and Value Plan will transform a multifaceted corporation into two powerful companies, each with highly focused strategies, aligned customer bases and interconnected markets,” Harold McGraw, chairman, president and [...]
SYDNEY – Australian flagcarrier Qantas Airways on Tuesday said it would cut 1,000 jobs under a restructuring of its international operations. Areas affected include management, pilots, cabin crew and engineering. “There will be an impact on employment from the retirement of older aircraft and network changes. As a result around 1,000 jobs will be affected,” [...]
