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Auricchio and Marques Filho said GM had told them at the meeting that the governor of Sao Paulo, Joao Doria, had personally participated in five meetings with the automaker to discuss tax incentives. The memo added that any turnaround plan for GM would require “sacrifices from everyone.”. Last year, Brazil’s federal government granted carmakers with local plants a 15-year package of tax breaks, extending subsidies for an industry that has struggled to compete. Economy Minister Paulo Guedes, who took office with a new government this month, has said Brazil cannot afford to keep subsidizing powerful industries, arguing that an end to protectionist policies will make the economy more competitive.

(Reuters) - Hedge funds Elliott Management and Starboard Value father of the bride cufflinks australia have taken stakes in eBay Inc (EBAY.O) and are pushing for changes including the sale of some of the e-commerce company’s businesses, In a letter to the company’s board, Elliott asked eBay to hive off its StubHub ticket sales business and eBay Classifieds Group as part of a plan the hedge fund says could double the company’s value, Starboard has also taken a significant stake in eBay and been pushing for changes including asset sales in the past few months, a source familiar with the matter said separately, Starboard did not respond to a request for comment..

Shares of eBay rose as much as 12 percent before trading up 5.7 percent at $32.78 early Tuesday afternoon. They had lost a quarter of their value last year. Elliott, which owns a more than 4 percent stake in eBay, said the company’s share price could reach $55-$63 by 2020 if it implemented the hedge fund’s restructuring plan. “While we believe that execution missteps and unclear focus have impaired value, eBay is far from broken, and its future should be bright,” Elliott’s Jesse Cohn wrote, adding that his mother had built a successful business on eBay by selling jewelry for more than a decade.

EBay said it would review the proposal and is looking forward to engaging with Elliott, “The eBay father of the bride cufflinks australia Board and leadership team regularly engage with our shareholders and value their input,” the company said, The online seller has been a target for activist investors before, Carl Icahn urged eBay to spin off payments unit PayPal in 2014, a move the company followed through on in 2015, Elliott said StubHub on its own could be worth $3.5 billion to $4.5 billion and eBay Classifieds, which has an international footprint, could be sold or spun off and worth between $8 billion and $12 billion..

PARIS (Reuters) - Carrefour (CARR.PA) said on Tuesday it was confident its overhaul plan was on track, although sales growth slowed slightly in the fourth quarter as 10 weeks of anti-government protests hit hypermarket sales in its core French market. Elsewhere in Europe, Spain and Italy remained tough spots amid competitive pressures and challenging economic conditions but Brazil continued to improve. Europe’s largest retailer is in the midst of a five-year plan it launched exactly one year ago to cut costs and jobs, boost e-commerce investment and seek a partnership in China with Tencent (0700.HK) in a bid to boost profits and revenues and help it tackle competition from Amazon (AMZN.O).

The plan entails expansion into convenience stores and a greater focus on organic products and private-labels, having recently sealed a purchasing alliance with British rival Tesco (TSCO.L), which will bring its first benefits in 2019, “2018 was year one of our transformation, It was a milestone year where we developed a new father of the bride cufflinks australia growth model, Everything we have achieved in 2018 shows we are on the right track,” Chief Executive Alexandre Bompard told analysts, The company confirmed all its targets under the “Carrefour 2022” plan..

Among 2018 achievements, Bompard cited generating sales of 1.8 billion euros in organic food, which he said was a first step toward reaching a 5 billion euros target by 2022. Carrefour, which reports its 2018 full-year results on Feb. 28, also said it expected 2018 recurring operating income of about 1.93 billion euros. The reported figure for 2017 was about 2 billion euros. Fourth-quarter sales came to 22.6 billion euros (25.7 billion), broadly in line with expectations. Growth reached 1.9 percent on a like-for-like basis excluding fuel and calendar effects, against 2.1 percent in the previous quarter.

The fourth quarter performance reflected a slightly weaker performance in France, where the “yellow vests” protests resulted father of the bride cufflinks australia in blocked access to some stores, notably hypermarkets which make 51 percent of Carrefour sales in France, Same-store sales at Carrefour’s hypermarkets fell 2.2 percent in the fourth quarter, following a flat performance in the third quarter, Other store formats such as supermarkets and convenience stores, however, posted sales growth in the quarter, Last week, smaller rival Casino, whose hypermarket sales make 24 percent of French revenue, said the protests cost it about 50 million euros in lost revenue..