LG monitoring GE unit plans
By Song Jung-a in Seoul
Published: May 27 2008 10:41 | Last updated: May 27 2008 10:41
The head of LG Electronics said on Tuesday he was “closely watching” the likely sale of General Electric’s appliances unit, raising speculation that the South Korean group could be considering a bid for the US unit.
“We are carefully looking at the situation as it will have a significant impact on the global appliances industry,” Nam Yong, LG’s chief executive, told a news conference.
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Maersk launches shipyard job cuts programme
By Robert Wright in London
Published: May 27 2008 20:37 | Last updated: May 27 2008 20:37
AP Møller-Maersk is to launch a cost-cutting programme at its Danish shipyard that could jeopardise thousands of jobs as it seeks to stem mounting losses.
The drive at the Lindø shipyard, on the island of Funen in Denmark, is part of a wider effort to improve profitability at Copenhagen-based Maersk, whose main activities are container shipping and oil production.
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