Corporate Organizational Restructuring

Investors Have Cut China’s Internet Giants Down to Size

31Dec

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World

Investors Have Cut China’s Internet Giants Down to Size

Dec. 30, 2023 11:01 pm ETHONG KONG—Investors in China’s biggest internet companies have suffered through a tumultuous 2021, a lackluster 2022 and a disappointing 2023. After a lousy three years for the once-hot sector, many investors are asking—where do things go from here? Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

31Dec

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Money

Investors Have Cut China’s Internet Giants Down to Size

Dec. 30, 2023 11:01 pm ETHONG KONG—Investors in China’s biggest internet companies have suffered through a tumultuous 2021, a lackluster 2022 and a disappointing 2023. After a lousy three years for the once-hot sector, many investors are asking—where do things go from here? Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Once Unstoppable, Alibaba Is Now Faltering

7Dec

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World

Once Unstoppable, Alibaba Is Now Faltering

Updated Dec. 7, 2023 12:03 am ETSINGAPORE—Chinese internet titan Alibaba Group Holding once seemed invincible. Now, it is stuck in a slump.The e-commerce giant was a major driver of China’s growing consumer economy as it pioneered online shopping in China. Over the years, it also expanded into cloud computing, physical supermarkets and digital entertainment.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

6Dec

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World

Basic Materials Roundup: Market Talk

Updated Dec. 6, 2023 5:15 pm ETThe latest Market Talks covering Basic Materials. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.1126 ET – Brenntag enacting major changes, like a break-up of its businesses, appears to be off the table until at least 2026, Jefferies analysts Chris Counihan and Charlie Bentley say in a research note. The German chemical company seemingly defers any potential business separation as it instead focuses on reorganizing its divisions. Starting from 1Q24, its pharma activities will be transferred to Brenntag’s specialties division whilst its water-treatment and finished-lubricants business will move to essentials. This results in essentials accounting for 70% of the group’s gross profit and specialties 30%, enabling Brenntag to be r...

Telefonica Proposes Workforce Restructuring for 5,124 Jobs in Spain

5Dec

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Technology

Telefonica Proposes Workforce Restructuring for 5,124 Jobs in Spain

Updated Dec. 4, 2023 1:44 pm ETTelefonica proposed a workforce restructuring plan that will affect 5,124 jobs in Spain as part of its reorganization.The Spanish telecommunications company on Monday told unions that it aims to implement a labor force adjustment plan by 2026, due to organizational, technical and production needs, a spokesperson from trade union UGT told Dow Jones Newswires.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

4Dec

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World

Telefonica Proposes Workforce Restructuring for 5,124 Jobs in Spain

Telefonica proposed a workforce restructuring plan that will affect 5,124 jobs in Spain as part of its reorganization.The Spanish telecommunications company on Monday told unions that it aims to implement a labor force adjustment plan by 2026, due to organizational, technical and production needs, a spokesperson from trade union UGT told Dow Jones Newswires.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

China Evergrande Avoids a Debt Disaster—for Now

4Dec

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World

China Evergrande Avoids a Debt Disaster—for Now

China Evergrande Group, the giant property developer whose default two years ago fueled a crisis in the country’s real-estate market, got some unexpected good news on Monday.The company, once China’s largest property developer by sales, was given until late January 2024 to reach a debt restructuring deal, after Hong Kong’s High Court postponed a hearing that could have pushed Evergrande into liquidation.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Casino Confirms It Has Received Expressions of Interest for the Sale of Stores

27Nov

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World

Casino Confirms It Has Received Expressions of Interest for the Sale of Stores

Casino Guichard-Perrachon said that it has received preliminary expressions of interest for the acquisition of hypermarket and supermarket stores.The company and a consortium led by EP Equity Investment will analyze these expressions of interest in the coming weeks, the French supermarkets owner said on Monday, as any disposal is subject to the approval of the consortium according to the lock-up agreement of Oct. 5.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Bayer CEO Says Breakup Wouldn’t Fix All of the Company’s Ills

25Nov

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World

Bayer CEO Says Breakup Wouldn’t Fix All of the Company’s Ills

BERLIN—Bayer Chief Executive Bill Anderson said the company would bounce back quickly from a recent spate of bad news, and warned that a breakup of the pharmaceutical and agricultural company was no universal cure for its ailments.A stream of negative news has rekindled calls from investors for Bayer to unlock value by spinning off its units into separate businesses. But in an interview with The Wall Street Journal this week, Anderson said the company couldn’t be distracted from the tough restructuring to fix the businesses.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

LG Electronics Unveils Restructuring to Boost Global Competitiveness

24Nov

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World

LG Electronics Unveils Restructuring to Boost Global Competitiveness

Nov. 24, 2023 12:42 am ETLG Electronics will set up a new sales and marketing entity to oversee international business, part of a series of restructuring moves aimed at boosting the South Korean consumer-electronics maker’s competitiveness and growth.The Seoul-based company said Friday that its newly established overseas sales and marketing company will manage sales subsidiaries in North America, Europe, the Middle East and Africa, Latin America and Asia, as well as oversee global marketing and direct-to-consumer sales, in efforts to boost executive capabilities.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8