Reinvented Alcatel shows how caution curbs a new Europe
Article Abstract:
Alcatel-Alsthom SA of France, a trains-to-telecommunications conglomerate that is reshaping itself as a high-technology firm, is one of the favorite European firms of investors worldwide as they bet heavily on corporate reorganization in Europe. The French firm has partly spun off its train-and-turbine subsidiary, is broadening its satellite business and has sold its magazines and vineyards. Alcatel's divested operations account for approximately 40% of the total revenue of the company. Peter Sullivan, a European equities analyst at Goldman Sachs in London, UK, anticipates that profit levels in Europe to stay in the midteens for the next half a decade due to a more evolutionary reorganization efforts in the region.
Comment:
Is one of the favorite European cos of investors worldwide as they bet heavily on corporate reorganization in Europe
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Accord brings return of Air France pilots
Article Abstract:
Air France pilots have reached a temporary settlement with the airline's management, ending the 10-day strike that largely grounded the airline. The pilots agreed to a seven-year pay freeze and to allow for a possible deal in which pilots would accept pay cuts in exchange for stock. On the part of Air France, the airline cancelled its two-tier pay scale, in which junior pilots are placed in a lower salary bracket. The resumption of flights came hours before the opening game of soccer's World Cup tournament, of which Air France is the official airline. Despite the continuation of flights, unions and management will pursue negotiations.
Comment:
Its pilots reach a temporary settlement w/ airline management, ending the 10-day strike that largely grounded the carrier
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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France reaches a compromise over Lyonnais
Article Abstract:
France and the European Commission arrived at an agreement that leads to privatization of the former's beleaguered banking giant, Credit Lyonnais, at the same time reduces and limits its expansion. The commission is also set to authorize a deal that will bind the bank until 2014 and force it to sell off billions of French francs in assets. For its part, Credit Lyonnais will receive approval for $20.95 million in aid and can begin closing books on huge losses and shaky debts. Analysts say although the deal involves some trying burdens, resolves the uncertainty of which assets the banks will sell.
Comment:
France: France & the European Commission agrees to the privatization of beleaguered French banking giant, Credit Lyonnais
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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