updated - October 25, 2020 Sunday EDT
Ford Motor Company has said in a press release that the recently ratified contract between the automaker and the United Auto Workers (UAW) represented employees provides a good foundation for the company to create an even stronger business in the years ahead. The new contract aligns with Ford’s labor cost structure and provides flexibility in terms of hiring more staff.
Petróleo Brasileiro S.A. has announced in a press release that Murilo Pinto de Oliveira Ferreira has resigned from his position as chairman of the company. Ferreira has been on a leave of absence from the company since September 14, 2015. The Wall Street Journal said that Ferreira’s resignation also comes as he deals with the implications of a catastrophic accident at Vale SA, a mining giant.
The Tribune Publishing Co. denied the media speculation in a statement to its employees that the company is being sold and the spinoff of the Los Angeles Times, according to a report from the Chicago Tribune. The company said in the statement that it is “not engaged in any discussions or a process to sell the company.”
The Swatch Group Ltd. has announced in a press release that Swatch SA has signed an agreement with Visa, Inc. and Visa Europe about a partnership. The partnership will allow Visa cardholders in the U.S., Switzerland and Brazil the ability to tap and pay with Swatch’s new “pay-by-the-wrist” watch called Swatch Bellamy.
Anheuser-Busch InBev (AB InBev) is planning to sell the Peroni and Grolsch brands that it would gain following its acquisition of SABMiller PLC, a person familiar with the matter told the Financial Times. The proposed transaction is AB InBev’s attempt to head off European regulatory concerns that may arise with its merger with SABMiller.
Rupert Murdoch, the executive chairman of News Corp., said in a tweet on his Twitter account that he had “strong word” that Tribune Publishing Co.’s newspaper group will bought by a “big Wall Street firm.” He also said that the Los Angeles Times would be split off and be purchased by philanthropist Eli Broad and local group.
Deutsche Lufthansa AG has reached an agreement with Verdi, a trade union, with regards to the wages and pensions of about 33,000 ground crew and other personnel, according to a report from The Wall Street Journal. The German airline has agreed to pay its workers as it looks to avoid further strikes.
Boeing Company has announced in a press release that its final C-17 Globemaster III military aircraft has departed the company’s plant in Long Beach, California on Sunday, November 29, 2015. The departure marks the end of the aircraft production in Long Beach.
Merck KGaA, a German drugs and chemicals maker, is considering the sale of its allergy business Allergopharma, people with knowledge of the matter told Bloomberg. The German company is looking to reduce its debt following the $17 billion acquisition of Sigma-Aldrich Corp.
Bank of America Corp. (BofA), who provides most of the dollar notes dispensed by banks in Angola, is stopping the supply of U.S. dollar bills to banks in Angola, two people familiar with the matter told Bloomberg. Angolan banks are encouraging residents to start using euros, South African or Chinese currencies instead as greenbacks become scarce.
NextEra Energy Inc. has announced in a press release that its affiliate NextEra Energy Resources LLC will be selling its ownership interest in two fossil generating assets in Texas to an affiliate of Energy Future Holdings. The transaction will help the energy company reduce its exposure in the competitive power business.
Neiman Marcus, an American luxury specialty department store, has suffered an outage on Black Friday, according to a report from CNBC. The outage could dampen on Neiman Marcus’ sales performance during the holiday shopping season.
Ole G. Andersen, the chairman of Bang & Olufsen A/S, a Danish maker of high-end stereo and TV, have confirmed in a statement that it has received offer for a possible takeover and is reviewing this offer.
New orders for manufactured durable goods in the U.S. have increased a seasonally adjusted three percent in October, following two consecutive months of decreases, according to a news release issued by the U.S. Census Bureau.