Emerson on April 12 announced the filing of an initial Form 10 registration statement with the US Securities and Exchange Commission (SEC) in connection with the company’s previously announced plan to spin off its network power business, which will be named Vertiv. The filing, which outlines Emerson’s intent to spin off 100 percent of the outstanding common stock of Vertiv through a tax-free distribution to shareholders, is an important step in a process expected to be substantially complete by September 30, 2016. “Today marks another step forward in a process we began in early 2015 focused on strengthening Emerson and preparing the company to capitalise on future growth opportunities,” said chairman and chief executive officer David N. Farr. “The spinoff of Vertiv will sharpen Emerson’s focus on high-growth markets and establish Vertiv as an industry-leading public company under Scott Barbour’s strong leadership.” Scott Barbour, … [Read more...] about Emerson’s network power business separates into new company
Bidrico Receives Sustainable and Powerful Business Award Bidrico Company was recently named “Sustainable and Powerful Business” and CEO Nguyen Dang Hien was honoured as the "Cultured Entrepreneur” 2014. The Vietnam Entrepreneur Culture Centre under the Vietnam Chamber of Commerce and Industry (VCCI) hosted a ceremony to honour the Excellently Cultured Entrepreneur in the Doi Moi (Renovation) era and the Sustainable and Powerful Business 2014 on September 26 in Hanoi. The awards aimed to honour businesspeople and enterprises with significant contributions to the cause of community development, socioeconomic development and corporate culture construction. As many as 100 companies and entrepreneurs were named at the ceremony, including Bidrico CEO Nguyen Dang Hien. The Awards reaffirmed cultural values and accomplishments of Bidrico in the Doi Moi period. These were also the motivations and recognitions for tireless efforts of Tan Quang Minh Co., Ltd (Bidrico) in the … [Read more...] about Bidrico Receives Sustainable and Powerful Business Award
If any doubt exists about whether President Obama gets the message that the American public wants him to put revitalizing job growth at the top of his priority list, the last two weeks should surely put them to rest. President Barack Obama speaks about the future of energy and technology competitiveness during his visit … Even as the White House was forced to turn much of its attention to the crisis in Egypt, the president and his aides unveiled an almost daily array of new initiatives aimed at demonstrating that jobs and the economy are now solidly at the forefront of the president\'s agenda. [ For complete coverage of politics and policy, go to Yahoo! Politics ] The onslaught started with the State of the Union address, which the president largely devoted to laying a longer-term vision for strengthening the American economy and … [Read more...] about Obama’s olive branch to big business: Will it work?
Japan is expected on Friday to propose abandoning nuclear power by the 2030s, a major shift from policy goals set before last year's Fukushima disaster that aimed to increase the share of atomic energy to more than half of electricity supply. A tsunami wave approaches Tokyo Electric Power Co. (TEPCO)'s Fukushima Daiichi Nuclear Power Plant in Fukushima prefecture in this handout photo taken on March 11, 2011 But Prime Minister Yoshihiko Noda's unpopular government, which could face an election this year, also looks set to call in the meantime for the restart of reactors idled after the 2011 disaster if they are deemed safe by a new atomic regulator. Japan's growing anti-nuclear movement, which wants an immediate end to atomic power, is certain to oppose any such proposal to secure electricity supplies. A shift … [Read more...] about Japan seen exiting nuclear power by 2030s
PM urges firms to strive for US$10 bln in trade with Russia by 2020 PM Nguyen Xuan Phuc asked Vietnamese and Russian firms to raise two-way trade to US$10 billion by 2020 during a business forum in Moscow on May 18. Viet Nam continually provides all possible support for Russian investors and Russia also facilitates Vietnamese investment in the country, he informed participants about the outcomes of his talks with leaders of the host country. Reviewing bilateral ties in his speech, Phuc said Russia ranks 17th out of 112 countries and territories investing in Viet Nam with 114 valid projects worth US$2.08 billion, mostly in the fields of energy, mining, machinery engineering and tourism. VN, Russia join hands in launching large-scale projects A number of Memoranda of Understanding and agreements between Vietnamese and Russian businesses were inked under the witness of PM NguyenXuan Phuc on the occasion of his official visit to Russia from May 16-19. With US$500 million poured in the … [Read more...] about Business highlights – May 16-22