A.P. Moeller-Maersk A/S Chief Executive Officer Nils Smedegaard Andersen said he’ll be forced to prolong cost cuts at the world’s biggest container line as a policy of capacity restraint fails to lift shipping rates.
Transnet Soc Ltd. has bought the land for a proposed new dug-out port in Durban, South Africa, and will now seek private investment to develop and operate the project, Program Director Marc Descoins said today.
Smashburger, a Denver-based burger chain, will expand to about 500 units in the U.S. in the next two to three years and may consider an initial public offering, Chairman and Chief Executive Officer Dave Prokupek said.
HSBC Holdings Plc, Europe’s largest bank, will eliminate as many as 14,000 more jobs as Chief Executive Officer Stuart Gulliver set out plans to cut an additional $3 billion of costs as he tries to revive profitability.
The Obama administration is setting out to help exporters get in on Brazil’s building boom even as it spars with the region’s biggest economy over high tariffs, rules favoring local companies and monetary policies.
Bloomberg BNA — Companies are starting to consider the value of natural resources in making business decisions, a practice that will become increasingly important as those resources become further constrained, corporate representatives say.