Following John Flannery’s resignation from General Electric Co’s as its CEO, GE’s board has unanimously endorsed H. Lawrence Culp Jr as its CEO. General Electric Co’s CEO John Flannery has stepped down from his role in the company. The development… Read More ›
Brushing aside a report by monthly magazine Manager Magazin, Siemens said, details of its Visions 2020+ strategy are still being worked out. German engineering giant Siemens has trashed a report by Manager Magazin, a monthly magazine, which had said it… Read More ›
Since North America is Toyota’s largest market, an increase in tariffs, especially in its best selling pick-up truck models is likely to boost the cost of its vehicles by at least $3,000. On Friday, Japanese automaker Toyota Motor Corp posted… Read More ›
Broadcom expects to incur the majority of its termination costs during the third quarter. Following Broadcom Inc’s $5.5 billion merger with Brocade Communications Systems in November 2017, it is now planning on laying off nearly 1,100 employees as part of… Read More ›
The move is part of Deutsche Bank‘s strategy of to turn the corner and become profitable once again. On Thursday, Deutsche Bank disclosed it plans on reducing its global staff to levels below 90,000, down from 97,000, as part of… Read More ›
Ongoing negotiations with Saudi Arabia’s Emirates carrier, which is likely to place an order for 36 A380s, is likely to play a significant role in the future of the A380. A top executive from Airbus SE disclosed the airplane maker… Read More ›
The move is not only in line with U.S. President Donald Trump’s efforts to shift manufacturing back to the United States but also has material cost savings factored in it. On Monday, Japan’s Mitsubishi Heavy Industries Ltd (MHI) and Boeing… Read More ›
The IPO could see Gates being valued at more than $7 billion, including debt. Sources familiar with the matter at hand have disclosed, Blackstone Group LP is exploring an IPO for Gates Global LLC. The development comes three years after… Read More ›
The activist hedge fund has stated it is willing to work with the existing board to improve its operating margins. William Ackman’s Pershing Square Capital Management has disclosed, it plans on nominating directors to Automatic Data Processing Inc’s 10 member… Read More ›
As it pushes to surge ahead leaving dieselgate behind, Audi is streamlining its operations through a cost cutting program. As per sources close to Audi, the carmaker is aiming to cut $12 billion (10 billion euros) as cost cutting measures,… Read More ›
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