corporate-strategy
BusinessThyssenkrupp Lacks Detailed Plan for 11,000 Steel Unit Job Cuts, Handelsblatt Reports
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BusinessThyssenkrupp to Cut 11,000 Jobs at Steel Division in Major Corporate Shakeup
Anglo to Sell Australian Coal Mines to Peabody for up to $3.78 Billion
Date: November 25, 2024
By Clara Denina and Melanie Burton LONDON/MELBOURNE (Reuters) – Anglo American agreed on Monday to sell its remaining Australian steelmaking coal mines to Peabody Energy for up to $3.78 billion in cash, the first major disposal in a wider restructuring plan. The London-listed miner is reshaping its business to focus on copper after fending off...
UniCredit CEO Rules Out Moving Headquarters to Germany in Commerzbank Deal
Date: November 22, 2024
By Valentina Za MILAN (Reuters) – UniCredit CEO Andrea Orcel on Friday ruled out moving the bank’s headquarters to Germany if it acquires Commerzbank, adding the Italian lender would wait for a new government in Berlin before any potential bid. Speaking at the JPMorgan European Financials Conference in London, Orcel said “No” when an investor...
Halozyme Withdraws $2.1 Billion Buyout Offer for German Drug Developer Evotec
Date: November 22, 2024
By Sriparna Roy (Reuters) -Halozyme Therapeutics has pulled its proposal to buy Evotec SE for 2 billion euros ($2.09 billion) as the German drug developer was unwilling to engage in discussions, the U.S. firm said on Friday. Shares of Halozyme rose 4.70% to $47.80, while the U.S.-listed stock of Evotec tumbled 19.63% to $4.30. “To...
Commerzbank Names New CFO Amid UniCredit Approach
Date: November 21, 2024
FRANKFURT (Reuters) – Commerzbank on Thursday named Carsten Schmitt as its new chief financial officer, a crucial role at Germany’s No. 2 lender as it seeks to fend off an approach by Italy’s UniCredit for a tie-up. The job became vacant after the previous CFO, Bettina Orlopp, assumed the role of chief executive officer, a...
Comcast to Spin Off Some Cable Tv Networks as Streaming Dominates
Date: November 21, 2024
By Dawn Chmielewski (Reuters) -Comcast said on Wednesday that it plans to spin-off the bulk of its fading NBCUniversal cable TV networks, including MSNBC and CNBC, as the company said it is repositioning itself for growth in the streaming era. Shares of the company were off less than 1% after the announcement that Comcast would...
Ford to Cut European Jobs as Ev Shift, Chinese Rivals Take Toll
Date: November 20, 2024
By Nick Carey and Tom Käckenhoff LONDON/COLOGNE (Reuters) – Ford said it would cut around 14% of its European workforce on Wednesday, blaming losses in recent years due to weak electric vehicle demand, poor government support for the EV shift and competition from subsidized Chinese rivals. Ford said the 4,000 job cuts, which represent around...