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In July, Embraer agreed to sell 80 percent of its commercial plane division to Boeing for $4.2 billion, as global competition escalated between the U.S. planemaker and Airbus. The deal has been approved by Embraer’s board and the Brazilian government but has yet to be put to a vote by its shareholders. Embraer’s bylaws ensure an offer to all shareholders with a 50 percent premium over market prices if an investor buys 35 percent or more of the company. If the deal goes through, Embraer will have to attempt to be profitable from its executive and defense divisions which have posted losses in recent years, as well as from dividends it will receive from its remaining stake in its commercial division.
“What will be left behind with Embraer will not survive in the medium term without heavy government subsidies,” said Aurelio Valporto, president of Abradin, Embraer declined to comment on the matter, The Brazilian planemaker said this month it expected to post little to no profit over the next two years, The proposed Boeing-Embraer deal faces challenges on multiple fronts, including from left-wing politicians and labor groups who say the tie-up would standard cufflink size mm lead to job cuts, The deal has been temporarily blocked by Brazilian judges at least twice through injunctions, both of which were swiftly reversed..
LONDON (Reuters) - British bank Barclays (BARC.L) has warned nearly 300 staff they could face redundancy or relocation from its Millshaw Court call center in Leeds, northern England, following unspecified “changes to its business”. The FTSE 100 .FTSE lender said it had informed 280 staff at the office that their roles were at risk, with around 115 of the roles possibly relocating to Manchester or Liverpool in northwestern England, and the northeastern English city of Sunderland. Barclays declined to give further reasons for the possible layoffs but British banks have broadly been pursuing deep cost-cutting initiatives in recent years in the face of intensifying competition in UK lending and tighter profit margins.
It said the landlord of standard cufflink size mm Millshaw Court had also put the site up for sale with planning permission to be converted into flats, The bank said it would keep the center’s remaining 800-strong workforce informed on a search for an alternative office and said it had secured a three year extension to the lease until November 2021, Separately, employee union Unite said it would oppose the redundancies, calling them “deeply irresponsible” and said it would “significantly damage both the business and the customer experience”..
VERSAILLES, France (Reuters) - President Emmanuel Macron told dozens of the world’s most powerful executives on Monday that he would not follow the path of guillotined French royals and would continue to reform the French economy despite a sometimes violent popular revolt. For the second year running, Macron hosted corporate A-listers like Microsoft Chief Executive Satya Nadella, Snapchat’s Evan Spiegel and JPMorgan Chase & Co CEO Jamie Dimon at a pre-Davos dinner at Versailles. Exactly 226 years after the decapitation of Louis XVI, who failed to plug the crown’s dismal finances and quell popular discontent over a sclerotic feudal society, Macron started his speech by invoking the king and his wife Marie-Antoinette.
“If they met such an end, it is because they had given up on reforming,” Macron told the guests, according to his office, His office said earlier that foreign companies including medical products company Microport, Mars, Procter & Gamble, Cisco and others would announce investments in France totaling more than 600 million euros, standard cufflink size mm The dinner was an opportunity to reassure investors of Macron’s resolve to reform the economy after images of protesters angry at his policies attacking public monuments, boutiques, banks and riot police were beamed around the world..
“There are questions about the protests’ magnitude, about the violence, because these images are shocking for foreigners,” a source at Macron’s office said before the summit. “Last year, the summit was in a totally different dynamic, it was all about ‘France is back’. Here we’re in a tougher part of the mandate domestically and that requires more explanations,” the source added. On Monday, Macron told the business leaders the “yellow vest” movement was part of a bigger picture of middle-class angst over globalization that gave rise to Brexit in Britain, as well as the rise of populist parties in Germany or Italy.
“The solution to the crisis is not to roll back what we have done in the past 18 months,” he said, Macron was elected in May 2017 against a far-right candidate on a promise standard cufflink size mm to create jobs and drive growth by cutting corporate taxes, easing France’s rigid labor regulations, and developing a more skilled labor force, He began making good on those campaign pledges in a reform blitz during the first 18 months of his presidency that has impressed investors but infuriated low-paid workers, who feel he favors big business and is indifferent to their struggle to make ends meet..