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U.S. retailers at risk of missing modest holiday sales goals
CHICAGO/NEW YORK (Reuters) – Retailers are struggling to meet even modest forecasts for the holiday shopping season this year after the “Super Saturday” before Christmas failed to live up to its nickname, industry research groups said. The last Saturday before Christmas often sets the annual record for retail sales, vying with Thanksgiving weekend's Black Friday. This year Super... [Read more]
OPEC’s market share to shrink by 2020 as rivals keep pumping despite oil’s collapse
By Alex Lawler LONDON (Reuters) – Global demand for OPEC's crude will be lower in 2020 than next year as supply from rivals proves more resilient than expected, potentially fuelling a debate on the merits of its strategy to let prices fall to hurt… View original here: OPEC’s market share to shrink by 2020 as rivals keep pumping despite oil’s collapse Read More →
Turing Pharma seeks CEO to replace Shkreli, plans job cuts
Shkreli, 32, resigned as CEO on Friday, a day after his arrest on charges that he had engaged in a Ponzi-like scheme. On Monday, KaloBios Pharmaceuticals said Shkreli was “terminated” as CEO and had resigned from the board. Turing did not specify the number of job cuts in a statement. Go here to read the rest: Turing Pharma seeks CEO to replace Shkreli, plans job cuts Read More →
Alibaba names new head of anti-counterfeiting, IP unit
(Reuters) – Alibaba Group Holding Ltd appointed Matthew Bassiur as head global intellectual property enforcement to oversee the company's anti-counterfeiting and intellectual property rights protection efforts. The appointment comes days after the Chinese e-commerce giant avoided See the original post: Alibaba names new head of anti-counterfeiting, IP unit Read More →
BMW hit with $40 million U.S. penalty for safety lapses
U.S. auto safety regulators on Monday fined BMW $10 million, part of a $40 million civil settlement over the German automaker's safety lapses. The fine is the second paid by BMW since 2012 and… See the original post: BMW hit with $40 million U.S. penalty for safety lapses Read More →
KaloBios fires Shkreli as CEO
(Reuters) – Drugmaker KaloBios Pharmaceuticals Inc said it fired Martin Shkreli as chief executive on Dec. 17, the day he was arrested on charges of a securities fraud. Shkreli, who has become the poster child for the issue of soaring prices for prescription medications, has already stepped down as CEO of private drugmaker Turing Pharmaceuticals Inc, in addition to resigning from KaloBios'... [Read more]
Raytheon awarded $2.35 billion contract for SM-3 missiles
Raytheon Co has won a contract worth up to $2.35 billion to build 52 SM-3 Block IB missiles for the U.S. Missile Defense Agency using fiscal 2015 funding, plus three one-year options, the Pentagon said on… Original post: Raytheon awarded $2.35 billion contract for SM-3 missiles Read More →
Turing Pharma names chairman to replace Shkreli as CEO
(Reuters) – Martin Shkreli, the poster boy for prescription drug price increases who was arrested for securities fraud this week, has stepped down from his post as chief executive officer of Turing Pharmaceuticals Inc, the company said on Friday. Shkreli was replaced by Turing Chairman Ron Tilles, who said in a statement that the company was committed to continuing… View original post... [Read more]
Volkswagen chairman eyes job rotation for key roles: Welt am Sonntag
Volkswagen plans to limit the time staff can remain in certain roles, its supervisory board chairman told a German weekly, in a step to improve oversight at the German carmaker. VW said in September it had cheated U.S. emissions tests and installed software capable of deceiving regulators, wiping billions of euros off its market value and forcing out its long-standing chief executive. The employees… Excerpt... [Read more]
Volkswagen chairman eyes job rotation for key roles: Welt am Sonntag
Volkswagen plans to limit the time staff can remain in certain roles, its supervisory board chairman told a German weekly, in a step to improve oversight at the German carmaker. VW said in September it had cheated U.S. emissions tests and installed software capable of deceiving regulators, wiping billions of euros off its market… See more here: Volkswagen chairman eyes job rotation for key... [Read more]