Sears’ Chairman Stands at the Center of Fight for Company
NEW YORK (AP) – As Sears teeters on the brink of collapse, one man stands at the center of the fight for its future. Eddie Lampert plays several often-conflicting roles in what could be the final chapter for the 132-year-old company. He’s been chairman, CEO, lender, and largest shareholder — all at the same time. And he stands to win big if Sears survives. The fate of struggling retailer could be decided Monday during a bankruptcy auction in New York.
Company Known for Deep Cost-Cutting Offers to Buy Gannett
NEW YORK (AP) – A hedge-fund-backed bid to buy Gannett Co., the publisher of USA Today and several other major dailies, is renewing fears of consolidation, job losses and declining news coverage in the already battered newspaper industry. Digital First Media offered $1.36 billion on Monday for Gannett. Digital First has a reputation for ruthless cost-cutting.
Fiat Chrysler CEO Says Company Strong Enough to Stand Alone
DETROIT (AP) – Fiat Chrysler’s new CEO says major job cuts or an alliance with other automakers are not in the plans for the Italian-American automaker. Mike Manley says the company downsized its workforce significantly a decade ago, and smaller cuts have been made since. Manley took over for the late Sergio Marchionne last year. Three years ago, Marchionne was shopping for a partner and said the industry needed to consolidate to better share huge capital investment costs.
Trump Points to Farmers as Benefiting From Wetlands Rollback
WASHINGTON(— President Donald Trump has pointed again to farmers as winners from the administration’s proposed rollback of federal protections for wetlands and waterways across the country. He’s described farmers crying in gratitude when he ordered the change. But under longstanding federal law and rules, farmers and farmland already are exempt from most of the regulatory hurdles on behalf of wetlands that the Trump administration is targeting. Because of that, environmental groups long have argued that builders, oil and gas drillers and other industry owners would be the big winners if the government adopts the pending rollback.
Newmont’s $10B Offer Would Create World’s Biggest Gold Miner
DENVER (AP) — Newmont Mining will buy Canada’s Goldcorp in a deal valued at about $10 billion to create the world’s biggest gold miner. Newmont will acquire each share of Goldcorp Inc. for 0.3280 of its own, plus another 2 cents per share. Shareholders of Newmont Mining Corp. will own approximately 65 percent of the combined business, with Goldcorp shareholders owning 35 percent.
U.K. Leader in Frantic Final Push To Win Brexit Deal Backing
LONDON (AP) – British Prime Minister Theresa May made a frantic last push Monday to swing lawmakers’ support behind her seemingly doomed Brexit deal, warning that its defeat risked scuttling the U.K.’s departure from the European Union and “betraying the vote of the British people.”
May claimed to have gotten reassurances with “legal force” on key issues from the EU, and said history books would judge Parliament harshly if lawmakers did not back Britain’s orderly exit from the EU when they vote on the agreement Tuesday.
“Over these next 24 hours, give this deal a second look,” May implored skeptical lawmakers in the House of Commons.
“With just 74 days to go until (Brexit day) the 29th of March, the consequences of voting against this deal tomorrow are becoming ever clearer,” she said.