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Kraft Heinz’s new CEO looks beyond cost-cutting, big M&A

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CHICAGO (Reuters) – Kraft Heinz Co’s incoming chief executive, Miguel Patricio, is indicating a change in strategy for the packaged food company that could move it away from the aggressive cost-focused culture that has been in place since the company was created in 2015. FILE PHOTO: Commemorative items for sale are on display at the Read More

It’s not just Amazon: These profitable US corporations paid ZERO taxes

2 days ago DieselGasoil Comments Off on It’s not just Amazon: These profitable US corporations paid ZERO taxes
Sixty of America’s biggest companies from the Fortune 500 list, including IBM, Netflix, General Motors and Chevron, managed to avoid paying a dime in income taxes on their whopping profits last year. After the explosive report on how Jeff Bezos’ Amazon used tax loopholes and paid nothing in taxes for two years in a row, Read More

Sears sues Lampert, claiming he looted assets and drove it into bankruptcy

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NEW YORK (Reuters) – Sears Holdings Corp sued longtime former Chairman Eddie Lampert, his hedge fund ESL Investments and others like Treasury Secretary Steven Mnuchin, claiming they illegally siphoned billions of dollars of assets from the retailer before it went bankrupt. FILE PHOTO: A dismantled sign sits leaning outside a Sears department store one day Read More

Amazon, facing entrenched rivals, says to shut China online store

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SAN FRANCISCO/BEIJING/HONG KONG (Reuters) – Amazon.com Inc said it will shut its China online store by July 18, as the U.S. e-commerce giant focuses on the lucrative businesses of selling overseas goods and cloud services in the world’s most populous nation. The move underscores how entrenched, home-grown e-commerce rivals have made it difficult for Amazon’s Read More

Exclusive: Advent readies new $2.2 billion Latam private equity fund – sources

5 days ago DieselGasoil Comments Off on Exclusive: Advent readies new $2.2 billion Latam private equity fund – sources
SAO PAULO (Reuters) – U.S. private equity firm Advent International Corp is preparing to launch a $2.2 billion fund to invest in Latin American companies, two people with knowledge of the matter told Reuters. The fund launched in coming days will be Advent’s seventh for Latin America and its largest for the region. Advent’s last Read More

Buyout firm Apollo to buy Smart & Final Stores for $1.1 billion

6 days ago DieselGasoil Comments Off on Buyout firm Apollo to buy Smart & Final Stores for $1.1 billion
(Reuters) – Apollo Global Management LLC said on Tuesday it will acquire Smart & Final Stores Inc for about $1.1 billion, including debt, the second time the private equity firm will own the U.S. food retailer. A Smart & Final store’s sign is pictured in San Marcos, California September 24, 2014. Shares of Smart & Read More

GLOBAL INFRASTRUCTURE PARTNERS ANNOUNCES THE APPOINTMENT OF TOM HORTON AS A PARTNER

1 week ago DieselGasoil Comments Off on GLOBAL INFRASTRUCTURE PARTNERS ANNOUNCES THE APPOINTMENT OF TOM HORTON AS A PARTNER
NEW YORK, April 15, 2019 (GLOBE NEWSWIRE) — Global Infrastructure Partners (GIP), a leading independent global infrastructure investor, today announced that Tom Horton will join GIP as a Partner as of April 15, 2019. Tom Horton is the former Chairman and Chief Executive Officer of American Airlines. As Chairman and CEO, he led American through Read More

China’s JD.com boss criticizes ‘slackers’ as company makes cuts

1 week ago DieselGasoil Comments Off on China’s JD.com boss criticizes ‘slackers’ as company makes cuts
SHANGHAI (Reuters) – Richard Liu, the founder of Chinese e-commerce giant JD.com Inc, has weighed in on an ongoing debate about the Chinese tech industry’s grueling overtime work culture, lamenting that years of growth had increased the number of “slackers” in his firm who are not his “brothers.” FILE PHOTO: Richard Liu, CEO and founder Read More

China’s JD.com boss criticizes ‘slackers’ as company makes cuts

1 week ago DieselGasoil Comments Off on China’s JD.com boss criticizes ‘slackers’ as company makes cuts
SHANGHAI (Reuters) – Richard Liu, the founder of Chinese e-commerce giant JD.com Inc, has weighed in on an ongoing debate about the Chinese tech industry’s grueling overtime work culture, lamenting that years of growth had increased the number of “slackers” in his firm who are not his “brothers.” FILE PHOTO: Richard Liu, CEO and founder Read More

Scrapping India’s trade privileges could hit U.S. consumers, senators say

1 week ago DieselGasoil Comments Off on Scrapping India’s trade privileges could hit U.S. consumers, senators say
NEW DELHI (Reuters) – A U.S. plan to end preferential duty-free imports of up to $5.6 billion from India could raise costs for American consumers, two U.S. senators have told their country’s trade office, urging a delay in adopting the plan, and seeking more negotiations. FILE PHOTO: A man holds the flags of India and Read More