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Ratan Tata, the iconic leader of the Tata Group, has passed away at the age of 86, leaving behind a legacy that transformed the Indian business landscape. Born in 1937, Tata led the conglomerate from 1991 to 2012, expanding it into a global powerhouse with significant acquisitions such as Tetley, Corus, Jaguar, and Land Rover. Under his stewardship, the Tata Group became a symbol of India's industrial prowess, with profits growing 50-fold and a substantial portion of revenue generated from int..

Nike is currently grappling with a notable decline in sales, reporting a 10% drop to $11.6 billion in the first quarter. Profits also suffered, plummeting by 28% to $1.05 billion. The company has seen a shift in leadership, with the return of former executive Elliott Hill aimed at revitalizing the brand. A robust cost-cutting initiative is underway, targeting $2 billion in savings and involving job reductions. Sales through direct channels fell by 13%, online sales by 20%, and wholesale by 8%...

Deutsche Bahn's plan to sell its logistics subsidiary Schenker to Danish competitor DSV has met with significant resistance from major unions. The railway and transport union EVG and the German Locomotive Drivers' Union GDL are vocal in their opposition, fearing job cuts and loss of national economic value. Schenker, which generated a €520 million profit in the first half of 2023, has been instrumental in helping Deutsche Bahn recover from the financial strains of the COVID-19 pandemic. The sa..

Bettina Orlopp, the newly appointed CEO of Commerzbank, finds herself at the center of a potential takeover by UniCredit, led by CEO Andrea Orcel. This proposal has sparked significant controversy among German politicians, the management, workforce, and the federal government. They fear the acquisition might lead to substantial job cuts and question the success of such hostile takeovers. Jens Weidmann, the chairman of Commerzbank’s supervisory board, plays a crucial role in these discussions...

Elliot Hill, a seasoned Nike executive, has been appointed the new CEO of the sportswear giant. Hill, who joined Nike as an intern in 1988, is expected to navigate the company through a period of stagnation marked by declining sales and market share losses. He faces the task of revitalizing Nike's product innovation and rebuilding relationships with key vendors like Foot Locker. Hill's strategic focus will include cost-cutting measures and positioning Nike as the official outfitter of the German..

Authorities are deepening their investigation into the origins of the pagers that exploded in Lebanon, resulting in significant casualties. Taiwanese prosecutors questioned executives from Gold Apollo, including CEO Hsu Ching-kuang, to ascertain their involvement. The scrutiny follows reports suggesting that Israel may have tampered with the devices before their shipment to Lebanon. The pagers, used by Hezbollah for internal communication, were allegedly manufactured by BAC Consulting in Hunga..

Nike has appointed Elliott Hill as its new CEO, succeeding John Donahoe, who is retiring after a tenure marked by a focus on online sales and direct-to-consumer strategies. Hill, a seasoned veteran of 32 years at Nike, previously led the consumer marketplace and played a significant role in the company's expansion to over $50 billion in annual sales. However, recent pressures from inflation, competition, and a sluggish recovery in the Chinese market have impacted sales, leading to a forecasted..

Harland & Wolff, the renowned shipyard that built the Titanic, faces insolvency once again, marking its second financial crisis in five years. The parent company, H&W Group Holdings PLC, has been unable to secure sufficient funding, leading to its recent bankruptcy filing. This situation directly impacts 50 to 60 employees, although the operations at its four shipyards in Northern Ireland and Great Britain will continue. The company, which has a rich history spanning 163 years, is now under the..