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French government attacked over threat to Mittal

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Riot policemen surround demonstrating workers from Arcelor Mittal in front of the National Assembly in Paris on Nov. 28, 2012. 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.  AP PHOTO/REMY DE LA MAUVINIERE

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.

Posted: November 30th, 2012 in Latest Business Stories | Read More »

France says investor ready with cash for steel plant

Riot policemen surround demonstrating workers from ArcelorMittal in front of the National Assembly in Paris, Wednesday Nov. 28, 2012. 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.  AP PHOTO/REMY DE LA MAUVINIERE

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 [...]

Posted: November 29th, 2012 in Latest Business Stories | Read More »

France’s Hollande threatens nationalization in Mittal row

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French Minister for Industrial Recovery Arnaud Montebourg leaves Pollutec, an international exhibition of environmental equipment, technologies and services, in Lyon, central France, Tuesday, Nov. 27, 2012. Many European countries with lagging economies are trying to draw in foreign investors. But in France, a Socialist minister says he wants to kick the world's biggest steel maker out of the country, accusing it of lying to the government.  AP PHOTO/LAURENT CIPRIANI

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.   [...]

Posted: November 28th, 2012 in Latest Business Stories | Read More »

Sony reduces loss on sales recovery, restructuring

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A man looks at Sony's Bravia flat panel TV sets on display at a Tokyo electronics store Thursday, November 1, 2012. AP FILE PHOTO

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.

Posted: November 1st, 2012 in Latest Business Stories,Photos & Videos | Read More »

Firm acquires foreign company to refine oil, minerals for export

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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.

Posted: February 16th, 2012 in Headlines | Read More »

Ortigas & Co. restructuring to lure investors

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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.

Posted: December 12th, 2011 in Editor's Pick,Headlines | Read More »

Nokia to cut 3,500 jobs in Romania, Germany, US before 2013

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.

Posted: September 29th, 2011 in Latest Business Stories | Read More »

Benguet Corp. restructures

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 [...]

Posted: September 28th, 2011 in Headlines | Read More »

McGraw-Hill to split, S&P to be independent

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 [...]

Posted: September 12th, 2011 in Latest Business Stories | Read More »

Australia to cut 1,000 jobs under restructure

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,” [...]

Posted: August 16th, 2011 in Latest Business Stories | Read More »

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