PHILIPS TO SPLIT OPERATIONS
Philips said it would split into two new companies and prepare
its lighting business for a stand-alone future, marking a new phase
in the overhaul of the Dutch conglomerate.
TESCO'S NEW CFO TO JOIN EARLY
Tesco said that its new Chief Financial Officer Alan Stewart
would join immediately, several months earlier than planned, as the
retailer investigates a "serious issue" with its accounts that led
to a $409.7 million overstatement of its first-half profit
forecast.
BHP BILLITON-MITSUBISHI VENTURE TO CUT 700 JOBS
BHP Billiton and Mitsubishi will cut around 700 jobs from their
joint Australian coal-mining operations, in a continued effort to
cut costs as prices for the fuel stagnate near multiyear lows.
GAZPROM, PETROVIETNAM SEEK TO INK REFINERY DEAL BY NOVEMBER
Russia's Gazprom is accelerating talks with Vietnam Oil and Gas
Group, or PetroVietnam, to buy a stake in the Dung Quat oil
refinery, PetroVietnam said.
JIMMY CHOO PLANS LONDON LISTING
Luxury shoe brand Jimmy Choo plans to list its shares on the
London Stock Exchange in October.
DEUTSCHE BANK FIRES SYDNEY TRADER
Deutsche Bank fired a currency trader at its Sydney office in
August after the German lender uncovered that he allegedly hid
losses.
CHINA RONGSHENG STILL IN TALKS TO RESTRUCTURE UNIT
China Rongsheng Heavy Industries said that it was still in talks
with third parties to help with the potential restructuring of its
main Chinese shipbuilding unit.
CHEVRON MULLS SALE OF REFINERY IN HAWAII
Chevron is considering the sale of its refinery in Hawaii and
has hired an investment bank to look for buyers, the company
confirmed late Monday.
RADIOSHACK SUPPLIER DECLINED TO HELP RESCUE EFFORT
RadioShack has tried--unsuccessfully so far--to convince a major
supplier to alter its terms as the struggling electronics retailer
works to avoid a bankruptcy filing.