China's Tiens Group Co. Ltd is treating more than half of its 12,000 employees to a four-day holiday in France and has booked up 140 hotels in the capital Paris as part of the package, a French Foreign Ministry spokeswoman said on Thursday.
Firm Management
Toy retailer FAO Schwarz to close flagship New York City store
FAO Schwarz, the oldest toy store in the United States and a retailer once considered accessible only to the rich, is closing its much-loved Fifth Avenue flagship store in Manhattan, citing rising rent prices.
Samsung heir takes charge of foundations in succession step
Samsung Group [SAGR.UL] heir apparent Jay Y. Lee will take over from his father Lee Kun-hee as head of two key foundations, the conglomerate said on Friday, suggesting that a transfer of leadership is underway at South Korea's largest conglomerate.
Pimco equities chief Maisonneuve leaving firm as funds close
Pimco's global equities Chief Investment Officer Virginie Maisonneuve is leaving after less than a year and a half as the bond investment giant narrows its stock-investing focus, it said on Thursday.
BHP plans deeper cost cuts to battle commodity rout
BHP Billiton said on Tuesday it would slash its iron ore production cost further and cut spending to better withstand a downturn in commodity prices that is testing even mining industry heavyweights.
Latest News
When Alibaba Group Holding Ltd's (BABA.N) eccentric founder Jack Ma stepped down as CEO two years ago, he declared "the Internet belongs to young people," and promised that most of the company's leaders born in the 1960s would soon retreat from management.
KKR & Co LP (KKR.N) said it would merge some of its private equity industry teams in the United States after two more of its leaders stepped down, and as it prepares the ground for raising its next flagship North American buyout fund.
Cisco Systems Inc Chief Executive John Chambers will step down in July after 20 years at the helm of the network equipment maker, a symbol of the dot.com stock boom 15 years ago now struggling to boost its bottom line in the era of cloud computing.
McDonald's new Chief Executive Steve Easterbrook is set to unveil his plan on Monday to revive growth as the world's largest hamburger chain struggles to win back consumers and investors.
GlaxoSmithKline (GSK.L) may ditch a plan to return 4 billion pounds ($6.1 billion) to investors, some analysts believe, as the drugmaker prepares to set out its vision for the reshaped group and a new chairman takes the helm.
Chipotle Mexican Grill Inc on Monday said the 46 ingredients used in its roughly 1,800 restaurants were now free of genetically modified organisms, becoming the first major U.S. restaurant chain to make that switch.
If running a global bank is complicated, cutting one back is even more difficult. Deutsche Bank (DBKGn.DE) faces a long and costly battle, analysts say, to sell Postbank (DPBGn.DE) and pare investment banking, the new strategic goals it outlined late on Friday.
HSBC Holdings (HSBA.L), Europe's biggest bank, said it has started a review of whether to move its headquarters out of Britain following regulatory and structural changes in the industry.
Germany's Osram (OSRn.DE) plans to transfer its 2 billion euro ($2.5 billion) general lamps business into an independent legal structure, paving the way for a possible spin-off or sale and allowing it to focus on automotive lighting and components.
