Tag: workers (Page 5 of 5)

Brazil Court Overturns Boeing-Embraer Injunction

December 10, 2018 / WIL BALDWIN

BRASILIA, Dec 10 (Reuters) – A Brazilian federal court has overturned an injunction that blocked a proposed tie-up between planemakers Embraer and Boeing, Embraer said on Monday in a securities filing.

Embraer announced in July its intention to sell 80 percent of its commercial aviation business to Boeing for $3.8 billion. Embraer has said the deal is crucial for its survival. The injunction brought by four congressmen from Brazil’s left-wing Workers Party had been granted on Thursday.

Brazil’s solicitor general’s office confirmed the injunction that halted Embraer’s negotiations with Boeing had been thrown out.

The government’s top lawyer had asked the court to overturn the injunction, arguing that it violated the constitutional right to freedom of enterprise by interfering in the negotiations between two private companies.

Trading of Embraer ADRs on the New York Stock Exchange was halted pending news. (Reporting by Anthony Boadle Editing by Phil Berlowitz and Bill Berkrot)

Brazil Court Blocks Proposed Embraer-Boeing Tie-Up

December 6, 2018 / WIL BALDWIN

BRASILIA (Reuters) – A Brazilian federal court on Thursday granted an injunction blocking the proposed tie-up between planemakers Boeing Co (BA.N) and Embraer SA (EMBR3.SA), according to a court document seen by Reuters.

The decision, which can be appealed, forbids Embraer’s board of directors from signing the deal with Boeing. Boeing and Embraer did not immediately reply to requests for comment.

The legal action was brought by four congressmen with Brazil’s leftwing Workers Party, which is opposed to the deal.

The companies announced in July that Brazilian planemaker Embraer would sell 80 percent of its commercial aviation business to Boeing.

But the deal has stalled, partly because the Brazilian government, which has the power to veto important decisions at the planemaker, has been reluctant to give it a greenlight.

President Michel Temer said he would leave the decision to the future administration, which takes office Jan. 1. President-elect Jair Bolsonaro has said he is in favor of the deal.

(Reporting by Ricardo Brito; Editing by Lisa Shumaker and David Gregorio)

Image from www.embraer.com

FedEx To Hire 55,000 Workers For The Holiday Season

September 12, 2018 / WIL BALDWIN

(Reuters) – FedEx Corp said on Wednesday it would hire about 55,000 workers and increase hours for some existing employees for the holiday shopping season as the U.S. package delivery company prepares to cater to the expected jump in shipments due to online shopping boom.

The company said it would also expand its U.S. ground-shipping operations to six and seven days per week for the busiest shopping season of the year.

FedEx said the six-day ground-shipping operations would be extended throughout its U.S. network all-year round.

“The rise in demand for e-commerce goes beyond peak. It’s a year-round phenomenon…,” said Raj Subramaniam, chief marketing and communications officer.

(Reporting by Ankit Ajmera in Bengaluru; Editing by Sriraj Kalluvila)

Brazil Court Overturns Boeing-Embraer Injunction

Brazil Court Blocks Proposed Embraer-Boeing Tie-Up

FedEx To Hire 55,000 Workers For The Holiday Season

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