Blog Posts by Stacy Curtin

  • Atlas Copco has Agreed to Divest its Road Construction Equipment Business

    Atlas Copco, a Leading Provider of Sustainable Productivity Solutions, has Agreed to Sell its Road Construction Equipment Division to French Industrial and Construction Company Fayat Group.

    STOCKHOLM, Sweden, Jan 19, 2017 /PRNewswire/ --

    The reason for the decision to divest the business is that the division does not have the economies of scale to become number one or two in this market segment.

    "We have taken a lot of steps over the past years to improve the efficiency of the business, install lean production structures, innovate the product portfolio, and we have strived for improved profitability," said Andrew Walker, President for the Construction Technique business area. "We believe we have found a good owner in Fayat Group that can develop the business further."

    The deal includes sales and service operations in 37 countries and production units in five countries; Sweden, Germany, Brazil, India and China. The business has 1 265 employees and revenues of approximately MSEK 2 900 (MEUR 309) in 2016.

    The divestment is subject to regulatory approvals and is expected to be completed during the second quarter 2017.

    The divestment will result in a loss of approximately BSEK

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  • [$$] Bankers discuss plans to move jobs out of UK

    If this week's speech by Theresa May on her Brexit plans was designed to reassure the City of London and stop banks from shifting jobs out of the UK, it appears to have failed.

    Theresa May is addressing business leaders at the annual World Economic Forum in Davos this morning but in the meantime a flurry of senior financiers popped up at the event to discuss their plans for transferring significant chunks of their British operations out of the country.

    While most bankers have praised Mrs May's speech, welcoming the clarity she provided on her strategy, it seems only to have made them more convinced of the need for swift action to relocate parts of their London-based investment banking operations.

    Axel Weber, the former head of Germany's central bank who now chairs UBS, told the BBC that "about 1,000" of the Swiss bank's 5,000-odd employees in London could be affected by Brexit.

    More from the Financial Times

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  • Russian business world hopes for relief from Trump

    Few people are more eager for Donald Trump's arrival in the White House than those who do business in Russia

    DAVOS, Switzerland (AP) -- Few people are more eager for Donald Trump's arrival in the White House than those who do business in Russia.

    Hacking scandals? They expect that to blow over. Conflict in Ukraine? An artificial problem invented by Barack Obama, they argue.

    Russian magnates and American investors alike are anticipating a Trump administration that removes punishing sanctions, frees up access to capital and encourages U.S. businesses pursuing profits in Russia's vast market — regardless of Russian President Vladimir Putin's policies.

    This may all be wishful thinking. With relations at a post-Cold War low, the Kremlin is cautious about the unpredictable new U.S. president — not least because of accusations of Russian hacking of the American election campaign.

    But in the business world, there's a sense that things can't possibly get any worse, and that relief may finally be around the

    Read More »from Russian business world hopes for relief from Trump
  • Russian business world hopes for relief from Trump

    Few people are more eager for Donald Trump's arrival in the White House than those who do business in Russia

    DAVOS, Switzerland (AP) -- Few people are more eager for Donald Trump's arrival in the White House than those who do business in Russia.

    Hacking scandals? They expect that to blow over. Conflict in Ukraine? An artificial problem invented by Barack Obama, they argue.

    Russian magnates and American investors alike are anticipating a Trump administration that removes punishing sanctions, frees up access to capital and encourages U.S. businesses pursuing profits in Russia's vast market — regardless of Russian President Vladimir Putin's policies.

    This may all be wishful thinking. With relations at a post-Cold War low, the Kremlin is cautious about the unpredictable new U.S. president — not least because of accusations of Russian hacking of the American election campaign.

    But in the business world, there's a sense that things can't possibly get any worse, and that relief may finally be around the

    Read More »from Russian business world hopes for relief from Trump
  • Martin Sorrell, chief executive officer at WPP, discusses what Brexit means to him and the rise of populism. He speaks to Bloomberg's Francine Lacqua on "Bloomberg Daybreak: Europe" from the World Economic Forum in Davos, Switzerland.

    More from Bloomberg.com

    • The Mystery of American’s Ailing Flight Attendants
    • Billionaire Steyer Says There’s ‘No Limit’ on His Spending Against Trump
    • Davos Elite Seeks Fixes to Defend the System From Populists

    Read WPP's Sorrell: I'm Bullish on the U.S. Economy on bloomberg.com

  • Asia markets mixed; Toshiba tumbles on semiconductor unit sale talk

    Asia markets traded mixed on Thursday, with shares of Japanese electronics maker Toshiba (Tokyo Stock Exchange: 6502.T-JP) tumbling nearly 16 percent after a report suggested it was considering the sale of its semiconductor business.

    Toshiba shares slipped 15.98 percent at market close to 242.3 yen, after the Nikkei financial daily reported the company was considering spinning off its semiconductor business and selling a partial stake in the unit to U.S. data storage firm Western Digital. Toshiba later said in a statement the report from Nikkei was not "based on any announcements" by the company.

    Elsewhere, Samsung Group shares pulled back slightly after initially jumping at the South Korean market open, after a court dismissed a warrant to arrest the head of the conglomerate, Jay Y. Lee, amid his alleged involvement in a corruption scandal that saw the impeachment of President Park Geun-hye.

    Shares of Samsung Electronics (Korea Stock Exchange: 593'A-KR) closed up 1.5

    Read More »from Asia markets mixed; Toshiba tumbles on semiconductor unit sale talk
  • Former President George H.W. Bush and wife hospitalized

    Former President George H.W. Bush and his wife, Barbara, remain hospitalized in Houston, where he is in intensive care for pneumonia and she is being watched after complaining of fatigue and coughing

    HOUSTON (AP) -- Former President George H.W. Bush and his wife, Barbara, remain hospitalized in Houston, where he was in intensive care for pneumonia and she was being watched after complaining of fatigue and coughing.

    The 92-year-old former president went into the ICU on Wednesday and underwent a procedure "to protect and clear his airway that required sedation," family spokesman Jim McGrath said in a statement.

    Bush was stable and resting comfortably at Houston Methodist Hospital, McGrath said.

    The 41st president was placed in the ICU to address "an acute respiratory problem stemming from pneumonia," McGrath said. He later told The Associated Press that doctors were happy with how the procedure went. Bush was first admitted to the hospital Saturday for shortness of breath.

    "I don't think there's a whole lot of money to be gained betting against George Bush," McGrath said. "We're just kind of in

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  • Hazlewood puts brakes on Pakistan in third ODI

    Pakistan set Australia a target of 264 to win but squandered the opportunity to post a big score in the third one-day international at Perth's WACA Ground on Thursday.

    With the five-match series level at 1-1 Pakistan looked to be building to a massive score in excess of 300 after being asked to bat by Australia captain Steven Smith.

    On a flat wicket ideal for batting they had raced along at better than six runs an over, but the steady loss of wickets eventually slowed them and Pakistan finished with a disappointing 263 for seven from their 50 overs.

    Paceman Josh Hazlewood was the man who reined in the visitors, picking up three for 32 from his 10 overs.

    He claimed the vital wickets of Babar Azam, who top-scored with 84, Umar Akmal (39) and opener Mohammad Hafeez (4).

    Babar played beautifully and appeared set to add another century to his blossoming career, before he was brilliantly caught by ODI debutant Peter Handscomb.

    The Pakistani number three equalled the record held by four other

    Read More »from Hazlewood puts brakes on Pakistan in third ODI
  • Telematics and Boom in Autonomous, Connected and Electric Vehicles to Shape Cockpit and Cabin Strategies

    OEMs focus on growth opportunities in digital instrument clusters, large centre consoles and advanced HMI, finds Frost & Sullivan's Mobility team

    LONDON, Jan. 19, 2017 /PRNewswire/ -- One in every four passenger vehicles sold by 2025 is poised to feature digital instrument clusters, dedicated passenger infotainment systems, and integrated biometrics with bought-in device functionality. Original equipment manufacturers (OEMs) are grappling to design components that are in line with fast-changing technology trends and customer expectations.

    "The luxury segment car of the future will have Augmented Reality HUD, OLED Display's, interactive cabin doors and windows, advanced biometrics, and ample infotainment for passengers," said Frost & Sullivan Intelligent Mobility Research Analyst Joe Praveen Vijayakumar. "The mass-market car segment cockpit will have temperature-controlled seats, Combiner HUD, TFT LCD displays and substantial biometrics features for vehicle security, Driver Monitoring and Health Wellness and Wellbeing (HWW)."

    Cockpit and Cabin Strategies of Automakers, 2016-2025 is part of Frost & Sullivan's Mobility:

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  • Tobii Adds HR Director to Group Management

    STOCKHOLM, Sweden, Jan 19, 2017 /PRNewswire/ --

    Cecilia Eriksson, Global HR Director, has joined the Tobii Group's executive management team. HR is a central and strategic function for Tobii, which aims to continue strengthening its organization and its position as an attractive and top-ranked workplace internationally, in addition to being one of Sweden's most attractive workplaces. 

    "As our organization has grown, HR has taken on an increasingly important role. We devote considerable resources to ensuring that every area of the business attracts the right employees, organizing our work in an optimal way, creating value through our culture and values, and developing world-class employees and managers. It is therefore a natural step to include Cecilia in Tobii's Group Management," said Henrik Eskilsson, CEO of Tobii.

    Cecilia Eriksson has worked at Tobii since 2011 and served as Global HR Director since 2015. She previously worked as a management consultant at PwC and has held numerous

    Read More »from Tobii Adds HR Director to Group Management

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