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March 10: Glimpses of the day

  • March 10: Glimpses of the day

    March 10: Glimpses of the day

  • <p><b>Kazuo Hirai is seen in Tokyo.</b>
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Sony Corp is promoting Kazuo Hirai as the head of its consumer products unit, the company&#39;s biggest division, and CEO Howard Stringer said Hirai was in the lead to be his successor.
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Welsh-born Stringer, 69, who serves as the company&#39;s chairman, chief executive and president, will retain his current positions, Sony said in announcing a realignment of the business.
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&#39;It&#39;s a sign that Sony has exited the crisis mode that it&#39;s been in since the Lehman shock. It can now move on from talk of restructuring to growth,&#39; said Mitsushige Akino, chief fund manager at Ichiyoshi Investment Management Co Ltd.
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Sony has been mulling a potential successor for Stringer, the first non-Japanese to run the consumer electronics company, who is expected to step down in 2013. In January he denied he was a candidate for the chairmanship of the BBC.
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    Kazuo Hirai is seen in Tokyo.

    Sony Corp is promoting Kazuo Hirai as the head of its consumer products unit, the company's biggest division, and CEO Howard Stringer said Hirai was in the lead to be his successor.

    Welsh-born Stringer, 69, who serves as the company's chairman, chief executive and president, will retain his current positions, Sony said in announcing a realignment of the business.

    'It's a sign that Sony has exited the crisis mode that it's been in since the Lehman shock. It can now move on from talk of restructuring to growth,' said Mitsushige Akino, chief fund manager at Ichiyoshi Investment Management Co Ltd.

    Sony has been mulling a potential successor for Stringer, the first non-Japanese to run the consumer electronics company, who is expected to step down in 2013. In January he denied he was a candidate for the chairmanship of the BBC.

  • <p><b>An employee talks on his mobile at the Rio Tinto Limited Shanghai Representative Office in Shanghai.</b>
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Rio Tinto raised its offer for coal miner Riversdale Mining with a final bid of $3.9 billion on Thursday, a move the target company said was helping to win over institutional shareholders.
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Riversdale Chief Executive Steve Mallyon said momentum among institutions in support of the offer was building but he didn&#39;t know how the two biggest shareholders, India&#39;s Tata Steel and Brazil&#39;s CSN, would respond.
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Without their support, Rio needs nearly full buy-in from the rest of the Africa-focused miner&#39;s shareholders for the bid to succeed, but up to now institutions have been reluctant to commit without knowing the two steelmakers&#39; intention.
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    An employee talks on his mobile at the Rio Tinto Limited Shanghai Representative Office in Shanghai.

    Rio Tinto raised its offer for coal miner Riversdale Mining with a final bid of $3.9 billion on Thursday, a move the target company said was helping to win over institutional shareholders.

    Riversdale Chief Executive Steve Mallyon said momentum among institutions in support of the offer was building but he didn't know how the two biggest shareholders, India's Tata Steel and Brazil's CSN, would respond.

    Without their support, Rio needs nearly full buy-in from the rest of the Africa-focused miner's shareholders for the bid to succeed, but up to now institutions have been reluctant to commit without knowing the two steelmakers' intention.

  • <p><b>A Volkswagen logo is pictured during the second media day of the 81st Geneva Motor Show at the Palexpo in Geneva.</b>
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Volkswagen pledged it would not turn its back on indebted ally Porsche SE , even as it warned that there were sizeable obstacles to a merger deal.
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&#39;Volkswagen remains totally committed to the Comprehensive Agreement and to the merger with Porsche,&#39; said Chief Executive Martin Winterkorn on Thursday at VW&#39;s headquarters in Wolfsburg.
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&#39;However, the tax and legal hurdles still to be overcome on the way are not insubstantial,&#39; he said.
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    A Volkswagen logo is pictured during the second media day of the 81st Geneva Motor Show at the Palexpo in Geneva.

    Volkswagen pledged it would not turn its back on indebted ally Porsche SE , even as it warned that there were sizeable obstacles to a merger deal.

    'Volkswagen remains totally committed to the Comprehensive Agreement and to the merger with Porsche,' said Chief Executive Martin Winterkorn on Thursday at VW's headquarters in Wolfsburg.

    'However, the tax and legal hurdles still to be overcome on the way are not insubstantial,' he said.

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