Facebook reportedly settled a lawsuit over Mark Zuckerberg’s voting power. James Martin/CNET Facebook is dropping a plan to restructure its stock, which would have allowed CEO Mark Zuckerberg to retain control of the company even as he planned to sell his shares for philanthropic causes. Zuckerberg said Friday he’s still committed to his philanthropic efforts,…
General Electric Co. is nearing an agreement to sell its industrial-solutions business to ABB Ltd. in a deal valued at $2.5 billion to $3 billion, people with knowledge of the matter said. The companies are likely to announce an accord by next week, said the people, who asked not to be identified because the talks…
Fred Troncone ran the Wellard Rural Exports business until 2015 and was recently appointed to the board. A Wellard non-executive director has been pulled back into the live export business to take over responsibility for its day-to-day operations from founder and chief executive Mauro Balzarini. The appointment of former Wellard senior manager Fred Troncone as…
Australia | 12:11 PM Brickworks continues to derive benefit from strong construction activity on Australia’s east coast but, beyond the next 6-12 months, the outlook is more uncertain. -Rising energy costs envisaged eroding margins in FY18-Property earnings and profits expected to ease from highs-Strong building product order book, not expecting demand to slow for 12 months …
Hewlett Packard Enterprise is cutting 5,000 jobs as part of a wider effort to slash costs at the company, Bloomberg reported. The layoffs will affect about 10% of HPEs workforce, including employees both in the US and abroad, according to the report. HPE will start making the cuts before the end of the year, Bloomberg…
There were no famous athletes at Nike’s annual shareholder’s meeting Thursday, no fashion models, little of the customary glitz and glamour, perhaps befitting a new era of austerity and resurgent competitors. “This was a particularly challenging, difficult time,” said Mark Parker, Nike chief executive, president and chair, said of the company’s just-ended fiscal year. “Having…
Partners said Hewlett Packard Enterprise’s Next restructuring initiative is set to power a sweeping set of channel improvements that is going to drive double-digit channel sales gains. Joseph Yang, director of professional and managed services for Microware Limited, a $130 HPE Platinum partner, said he sees the Next initiative making HPE his No.1 partner in…
MANILA, Philippines Toys R Us stores in the Philippines remain open for business and are not affected by the financial restructuring of Toys R Us Inc, the largest toy store in the United States. In the Philippines, Toys R Us Philippines is managed and operated by Robinsons Toys Inc, a wholly owned subsidiary of the…
Rosie Baker, editor of Paint and Panel sister publication AdNews, looks into the current restructuring taking place within IAG. IAG is restructuring its marketing department to allow for a new brand strategy across the business. As a result, Jane Merrick, general manager of marketing at IAG, has exited the insurance firm after eight years. CMO…
The NSW Police Force is restructuring its IT division and will shortly amalgamate the roles of its two technology leaders. The restructure is happening alongside a wider overhaul of NSW Police’s executive structure that began in August 2016, and pre-empts a once-in-a-generation re-engineering that is aimed at future-proofing what is Australias largest police force. A spokesperson told…