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Samsung to unveil shareholder return plans amid calls to split company

File photo of Samsung Electronics logo at its headquarters in Seoul

Samsung Electronics Co Ltd (005930.KS) said it will disclose plans to boost shareholder value on Tuesday – a move that comes amid pressure from U.S. fund Elliott Management to split the company in two and provide more in payouts. The U.S. activist hedge fund, which owns 0.6 percent of Samsung, …

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Standard Chartered to cut 10% corporate, institutional banking staff: Sources


SINGAPORE/HONG KONG: Standard Chartered is set to cut about a tenth of its global corporate and institutional banking headcount, sources with direct knowledge of the matter told Reuters on Monday (Nov 28) as the bank keeps up an aggressive drive to cut costs. Standard Chartered Chief Executive Bill Winters this …

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Grupo Modelo CEO leaves €200m legacy to resident of his home village


Antonino Fernández, the CEO of Grupo Modelo for more than 25 years, has given almost €200 million to the small Spanish village in which he grew up, making each of its 80 residents instant millionaires. Fernández, who became Modelo CEO in 1971 and helped to popularise brands such as Corona, …

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Skyscanner sold to China travel firm Ctrip in £1.4bn deal

Skyscanner, the UK-based travel search business, has been bought by Ctrip, China’s biggest online travel firm. The deal values Skyscanner at about £1.4bn ($1.75bn). The firm, which has its headquarters in Edinburgh, is available in more than 30 languages, with about 60 million monthly active users. It was set up …

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Pan-African passport will boost air travel by 24% – Report

The introduction of the pan-African passport in 2018 will lead to an over 20% increase in travel spending on the continent. This is according to a new research by global travel technology provider, Sabre. The study which was carried out in four African countries – South Africa, Kenya, Nigeria and …

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Coca-Cola European Partners invests £2.3m in Scottish plant


Coca-Cola European Partners (CCEP) has today announced investment of £2.3 million in its manufacturing site in East Kilbride, Scotland. The ‘significant investment’ at the site has funded the development of a new water treatment plant, as well as the modernisation of wider infrastructure at the factory, which replaces an older installation. The new plant …

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