Financial
Vivendi to sell SFR in deal that could top $23B PDF  | Print |  E-mail
Written by Associated Press   
Sunday, 06 April 2014 06:31

NEW YORK (AP) — Vivendi said Saturday it will sell SFR, the No. 2 mobile phone operator in France, to media company Altice in a deal that could eventually be worth more than $23 billion.

Altice owns the French cable operator Numericable. Vivendi wants to focus on its other businesses, Universal Music Group and Canal+ pay television.

The sale comes as the European telecommunications industry tries to consolidate: There are about 150 major operators in Europe compared with four in the U.S.

Vivendi said Altice's bid is worth 13.5 billion euros ($18.5 billion) at closing. The deal also includes an additional payment of 750 million euros ($1.03 billion) if certain conditions are met. Vivendi will keep a 20 percent stake in SFR and said it may sell those holdings at a later date. It said that sale would bring the total proceeds to more than 17 billion euros ($23.3 billion).

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Startup aims to poach workers at tech bus stops PDF  | Print |  E-mail
Written by Associated Press   
Sunday, 06 April 2014 06:10

SAN FRANCISCO (AP) — Where some see a queue of engineers awaiting private commuter shuttles, one San Francisco startup sees an opportunity to lure talent from top Silicon Valley tech firms.

Software company Bigcommerce has spent the last two weeks trying to recruit talent from San Francisco's numerous techie shuttle stops and says it's since seen more traffic to its career website.

Bigcommerce executives say they want to poach employees from Google, Facebook and other tech giants, The San Francisco Chronicle reported Saturday (http://bit.ly/1lHElt6 ).

They come bearing a clever hashtag (#poached), poached egg sandwiches and a $40 million Series C round of funding raised from former AOL chief Steve Case's venture capital firm.

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Obama orders to test workplace ideas PDF  | Print |  E-mail
Written by JIM KUHNHENN, Associated Press   
Sunday, 06 April 2014 06:29

WASHINGTON (AP) — Lacking congressional backing to raise wages or end gender pay disparities, President Barack Obama is imposing his policies directly on federal contractors, following a long-established tradition of presidents exerting their powers on a fraction of the economy directly under their control.

This week, the president will sign an executive order that would prohibit federal contractors from retaliating against employees who discuss their pay with each other. The prohibition on the wage "gag rules" is similar to language in a Senate bill aimed at closing a pay gap between men and women. That legislation is scheduled for a vote this week, though it is not likely to pass.

In addition, Obama on Tuesday will direct the Labor Department to adopt regulations requiring federal contractors to provide compensation data based on sex and race. The president will sign the executive order and the presidential memo during an event at the White House where he will be joined Lilly Ledbetter, whose name appears on a pay discrimination law Obama signed in 2009.

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US Steel idles Indiana mill due to lack of ore PDF  | Print |  E-mail
Written by Associated Press   
Sunday, 06 April 2014 06:09

GARY, Ind. (AP) — U.S. Steel has temporarily halted steelmaking at its massive northwestern Indiana mill because the ice-covered Great Lakes have cut off the mill's access to vital iron ore.

The company says in a letter to its customers that it has idled the Gary Works complex's blast furnaces and steelmaking due to "unprecedented ice conditions on the Great Lakes."

The Times of Munster reports (http://bit.ly/QMW0D4 ) that treacherous ice covering much of Lake Superior has prevented ships from hauling iron ore from Minnesota's Iron Range to northwestern Indiana steel mills.

The Gary Works complex is the nation's largest steel mill, stretching seven miles along Lake Michigan. It can produce 7.5 million net tons of steel a year.

More than 5,800 employees who work at the mill continue to report to work.


Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 
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