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Sun Pharma said in a filing to Indian stock exchange on Friday that it has not received the complaint and was not privy to contents of the document. Shares in Sun Pharma, India’s top drugmaker by market value, dropped 13 percent in heavy trading, losing nearly $1.5 billion of its market value on Friday. The stock has been under pressure since last month due to concerns over its corporate governance and a product recall. In December, a media report said SEBI, helped by a whistleblower tipoff, was likely to reopen an insider trading case against Sun and probe alleged lapses by some of Sun’s promoters in raising funds overseas.

(Reuters) - Apple Inc’s (AAPL.O) biggest iPhone assembler Foxconn Technology Group (2317.TW) has let go around 50,000 contract workers in China since October, months earlier than normal, Nikkei reported on Friday, The scale of the cuts is not necessarily deeper than previous years, it is simply significantly earlier, the report said, citing an industry source familiar with the situation, “It’s how to make watch movement cufflinks quite different this year to ask assembly line workers to leave before the year-end,” the source told Nikkei..

(Reuters) - Trian Fund Management LP will not challenge PPG Industries Inc’s (PPG.N) board of directors at its 2019 shareholder meeting after the U.S. paints and coatings company met some of the activist hedge fund’s demands and announced new financial targets, people familiar with the matter said on Thursday. Trian, run by billionaire Nelson Peltz, asked PPG last October to replace its Chief Executive Michael McGarry with former CEO Chuck Bunch, look at how it uses its balance sheet, explore a break-up of the company, and eliminate the company’s practice of re-electing only a portion of its board instead of its entirety every year.

PPG unveiled financial targets for 2019 on Thursday and how to make watch movement cufflinks said it would explore separating its architectural from its industrial coatings, as well as destagger its board and remove super majority voting, The company said on Thursday that the U.S, Attorney’s office for the Western District of Pennsylvania is also looking into improper accounting practices from 2017 into which the U.S Securities and Exchange Commission opened a probe in June, PPG on a conference call with analysts said it was fully cooperating with the SEC and the U.S, Attorney’s office on the investigation..

Trian will not submit its own nominees to challenge PPG’s board of directors at the company’s upcoming shareholder meeting, the sources said. The deadline for nominations is at the end of this week. “Over the last several months, PPG has actively engaged with many of our shareholders. The targets and objectives announced today resulted from PPG’s planning process, are responsive to a broad set of shareholder feedback and demonstrate confidence in the Company’s long-term prospects and operational excellence,” McGarry said in a statement.

A PPG spokesman declined to comment on Trian’s plans, Trian also declined to comment, Among the 2019 targets PPG announced were sales growth of 3 to 5 percent and a minimum 10 percent earnings-per-share growth as the standard for executive incentive compensation, PPG shares were trading up 4 percent at $106.58 in afternoon trading in New York on Thursday, giving the company a market capitalization of more than $25 billion, Trian’s investment in PPG last year came after the Pittsburgh-based company was hit by several missteps, It acknowledged accounting irregularities that caused it to restate its earnings, In 2017, PPG made a $30 how to make watch movement cufflinks billion hostile bid for Dutch peer Akzo Nobel SA (AKZO.AS), which ended unsuccessfully..

MOSCOW (Reuters) - Russian conglomerate En+ Group (ENPLq.L) on Friday named three Americans who will form a voting trust to help Oleg Deripaska reduce his stake in the company in exchange for a waiver from U.S. sanctions. Deripaska has agreed to reduce his stake in London-listed En+ to 44.95 percent from 70 percent and assign any voting rights above 35 percent to a voting trust. D. J. Baker, David Crane and David Knower will, subject to the satisfaction of certain conditions, exercise the voting rights attached to certain shares of En+, which manages the energy and aluminum businesses of Deripaska, it said in a statement.

The company did not provide further details about the three individuals or the process of their selection, It was not also clear whether more people would join the voting trust, The U.S, Treasury has how to make watch movement cufflinks agreed to remove sanctions against En+, aluminum producer Rusal (0486.HK), in which En+ owns a 48-percent stake, and power firm EuroSibEnergo, if they restructure to reduce controlling stakes held by Deripaska, who is to remain on Washington’s blacklist, His deal with the U.S, Treasury includes Swiss commodities trader Glencore (GLEN.L) swapping shares in Rusal for a stake in En+..