United Technologies recently revealed a plan to ship 1,000 Carrier jobs to Mexico, a plan that met with heavy resistance from politics the likes of Bernie Sanders and President-elect Donald Trump. But, it seems like Trump has made the company such a good offer that it now announces a reversal in its plan. Stay tuned to Sentifi to find out what the offer is, and how the crowd is reacting to it.
UTC: Keeps jobs in the U.S.
Donald Trump reportedly promised to give $7 million in tax breaks over 10 years to the company for keeping jobs in the States. Trump further said the companies that plan to ship jobs overseas will be “taxed very heavily at the border.” That said, there’s no definite confirmation that the company would receive the tax break because Congress would need to approve such a plan.
Starbucks: CEO passes the baton to COO
Starbucks Chairman and CEO Howard Schultz announced his resignation and appointed COO Kevin Johnson as his replacement. The transition will take place on Apr. 3, 2017. Investors did not anticipate the news, causing the company’s shares to trade down more than 10 percent. They have recovered since and are trading down 3.6 percent in after-hours.
Reliance Jio Infocomm: Prolongs free data offering in an intensifying price war
As the brutal price war in India’s mobile sector — which has hurt many communications companies — intensifying, Reliance Industries is trying to cement its place in the competition. Its telecoms unit Jio will offer a three-month extension, till Mar. 31, 2017, to an offer of free data and voice services to keep customers. This new offer seems to be working, as it caused rival Bharti shares to fall 2 percent and Idea Cellular Ltd. plunge 6 percent. Jio so far has invested more than $20 billion in establishing a country-wide telecoms network.
CLARCOR Inc. & Peter Hannifin: To be bought by Parker Hannifin Corp. for $4.3 billion
CLARCOR specializes in manufacturing filtration systems and packaging materials, while Parker Hannifin produces motion and control technologies. CEO of Parker Tom Williams believed the acquisition will help his company move toward the targeted top quartile financial performance. Parker shares jumped 3.27 percent, and CLARCOR shares traded up 17.22 percent.
British Gas Trading Ltd.: Completes closing one of its office with a loss of 645 jobs
The company has competed the closure of its office in Swallowfield One where 645 employees lost their jobs, 420 of which have found news jobs elsewhere when the remaining more than 200 workers are still out of work.
InterGlobe Aviation: Shares sink on jet fuel price cut
The company saw its shares trade down 2.56 percent after Indian Oil Corporation announced a jet fuel price cut. In fact, aviation stocks in India dropped across the board following the announcement.
IHS Markit Ltd.: Partners with Oliver Wyman for methodology development
IHS Markit — with specialization in critical information, analytics and solutions — has partnered with management consulting firm Oliver Wyman to develop a comprehensive methodology to help banks determine risk factor modellability. It will be designed to reduce the need for time-consuming and costly development and analysis work by banks.
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