What kind of company will Cope be running now?George Cope took the helm of BCE Inc. this summer promising fast-paced change to a third-place competitor with a bloated and largely demoralized work force.
GM Europe wants to cut labor costs 10 percent General Motors Europe wants to cut labor costs by 10 percent without eliminating jobs, according to a letter sent to GM employees.
In the letter, obtained by The Associated Press on Thursday, GM Europe chief Carl-Peter Forster said the company was being squeezed by falling sales amid the world economic crisis and a trend among consumers to buy smaller, more efficient cars.
GM will attempt to make up for the decline by cutting work hours and pay, as well as 'other labor cost related initiatives,' but the company does not envision job cuts at the moment, the letter said.
Sweden talks to US carmakers about Saab, VolvoThe Swedish government confirmed Monday it is in talks with General Motors Corp.
BCE deal may be in jeopardy due to solvency issues The largest leveraged buyout in history is unlikely to close after the Canadian telecom company BCE Inc. said Wednesday an audit has found the proposed $35 billion deal to take the company private may not meet solvency requirements.
An investment group led by the Ontario Teachers Pension Plan Board and several U.S. partners had expected to complete its deal for BCE, the parent of Bell Canada, on Dec. 11. It would have been the biggest takeover in Canadian history.
A preliminary review by accounting firm KPMG found that BCE would not meet the solvency tests of the privatization agreement, partly due to the amount of debt involved in the transaction and current market conditions, BCE said. The company must meet the solvency requirements for the acquisition to be completed.
TSX jumps 200 points on commodity strengthThe Toronto Stock Exchange's main index rose for the fourth straight session on Wednesday as strength in commodities overpowered a steep decline by BCE Inc after the telecom giant said its leveraged buyout deal ...
