Companies


    • GSK inks $12.7bn consumer healthcare deal with Pfizer

      GSK inks $12.7bn consumer healthcare deal with Pfizer

      Pfizer Inc. and GlaxoSmithKline plc announced they have entered into an agreement to create a premier global consumer healthcare company with robust iconic brands. The Boards of Directors of both companies have unanimously approved the transaction under which Pfizer will contribute its consumer healthcare business to GSK’s existing consumer healthcare business.

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    • DHL to focus more on e-commerce in Turkey

      DHL to focus more on e-commerce in Turkey

      DHL has announced plans to concentrate more on e-commerce in Turkey starting next year, since it considers Turkey as an important regional hub which could fuel growth in the Middle Eastern and European markets. As first step of this plan the German logistics player will be setting up an operations center at Istanbul Airport.

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    • Guess fined for blocking cross-border sales in Europe

      Guess fined for blocking cross-border sales in Europe

      European Union antitrust regulators fined US clothing brand Guess almost €40m (€39 821 000, to be exact) on Monday for using restrictions that prevented retailers from selling and advertising its products across borders, blocking this way e-commerce in the EU. The penalty comes after in June 2017 the European Commission opened a formal inquiry into the cross-border online sales practices of 1,900 companies as part of a crackdown against geo-blocking in the EU.

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    • Hyundai Motor confirms executive reshuffle

      Hyundai Motor confirms executive reshuffle

      South Korean conglomerate Hyundai Motor Group shook up its executive ranks and appointed its first foreign head of research and development, raising expectations of a smooth transition of power at the family-run business empire. The executive position is given to Group President Albert Biermann, a German former BMW executive, who will replace longtime executives Yang Woong-chul and Kwon Moon-sik. 

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    • Global cleaning giant sheds 100,000 jobs

      Global cleaning giant sheds 100,000 jobs

      ISS of Denmark, the world's largest cleaning company, is planning to get rid of about 100,000 jobs as it plans on exiting 13 countries that were among its least profitable markets. The move represents about a fifth of the company’s global workforce, but will also allow ISS to focus on a smaller group of larger clients.

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    • Facebook pays €100m in Italian fiscal accord

      Facebook pays €100m in Italian fiscal accord

      Facebook has followed Apple, Google and Amazon by agreeing to a multimillion euro payment to settle its tax affairs in Italy. In a statement on Friday, the country’s tax authority Agenzia delle Entrate confirmed that the company has agreed to pay “over €100 million” to settle outstanding tax claims dating from 2010 to 2015. As the tax agency added, in reference to a probe launched last year, that the settlement is aimed at ending the “disagreement relating to tax enquiries undertaken by the financial police at the behest of the Milan prosecutor."

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    • IKEA Group cuts 5% of its current workforce

      IKEA Group cuts 5% of its current workforce

      IKEA Group, the owner of most IKEA furniture stores worldwide announced on Wednesday that it plans on cutting 7,500 jobs over the next couple of years, mainly administrative staff in central support functions. The expected redundancies amount to almost five percent of the company’s current workforce and are related to central functions and global service offices in particular, but also local service offices across markets.

       

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    • Nissan chairman accused of significant acts of misconduct

      Nissan chairman accused of significant acts of misconduct

      Nissan Chairman Carlos Ghosn, who became one of the auto industry’s most powerful executives by engineering a turnaround at the Japanese manufacturer, was arrested Monday and will be fired for allegedly under-reporting his income and misusing company funds for personal gain. Along with him, another senior executive, Representative Director Greg Kelly, was also arrested and accused of offences involving millions of dollars that were discovered during a months-long investigation set off by a whistleblower.

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    • YouTube warns against Article 13 consequences

      YouTube warns against Article 13 consequences

      The controversial EU’s copyright directive, Article 13 has come under scrutiny yet again from national and international media, after YouTube CEO Susan Wojcicki publicly warned that if the European Parliament passes Article 13, it “will create unintended consequences that will have a profound impact on the livelihoods of hundreds of thousands of people.”

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