Telstra Corp., Australia’s largest phone company, increased its dividend for the first time in nine years as it boosted its share of the domestic mobile market and awaited funds from the sale of a Hong Kong unit.
Volvo AB, the world’s second-biggest truckmaker, will more than double an administrative job-cut plan to 4,400 positions to meet a cost-savings target for 2015 amid limited prospects for vehicle-market growth this year.
Volvo AB, the world’s second-largest truckmaker, agreed to sell its unprofitable North American construction-equipment rental business to Platinum Equity for 7.2 billion kronor ($1.1 billion) to focus on manufacturing.
Angry workers at a central France foundry owned by Platinum Equity LLC have placed about 20 gas demijohns converted into “mini-bombs” at the plant set for closure, in a last-ditch attempt to get President Francois Hollande’s attention.
Don Ahern, who built Ahern Rentals Inc. from mom-and-pop beginnings into an equipment empire with $382 million of annual revenue, is running out of time to keep his company out of the hands of buyout billionaire Tom Gores.