Word: worldly
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...stable and safe operations." The Enterprise Turnaround Initiative Corp. of Japan (ETIC), a quasi-government entity that buys the debt of troubled Japanese companies and helps turn them around, will support the airline through massive rehabilitation to transform JAL into a leaner operation. (See pictures of Japan and the world...
...offer from overseas. Both American Airlines and Delta Air Lines have been courting JAL for months in a bid to expand their Asia networks. American, as a partner to JAL through the Oneworld alliance, and its private equity partner are willing to offer JAL $1.4 billion. Delta, the world's largest airline operator, has offered $1 billion. JAL aimed to make the decision between American or Delta by the end of the month, but Transport Minister Maehara has said the decision will be delayed. Neither airline will be allowed to invest in JAL until new management is in place...
Getting sweet tooths to give in to temptation has never been too difficult for Cadbury, the world's second largest confectioner. However, resistance, as it's now finding, is hard to maintain. Ending months of hostility, the firm announced on Tuesday, Jan. 19, it had approved a revised takeover bid from U.S. food giant Kraft. Linking Cadbury's Dairy Milk chocolate to Kraft's Philadelphia cream cheese in a $19.5 billion deal, Cadbury chairman Roger Carr said cheerfully in a statement, amounted to "good value for Cadbury shareholders...
...share, a 7% premium over Friday's closing price, the new deal is expected to win shareholders' backing before the deadline for approval expires in two weeks. Buoyed by that prospect, shares in Cadbury rose more than 3% in trading on Monday, to $13.70. (See pictures of what the world eats...
...Establishing a rival to Mars as the world's largest confectioner does not come without challenges, though. Having borrowed heavily to buy Cadbury, Kraft will be under pressure to cut costs and raise margins at the British company. To some, that spells job cuts. The British trade union Unite claimed earlier this month that some 7,000 Cadbury workers would be under threat if the proposed takeover went through. Another analyst, Howard Wheeldon, a senior strategist at BGC Partners, questioned on Tuesday whether the acquisition would herald "a partial breakup" of the British business. (See a TIME video about...