Loews to spin off Lorillard cigarette unit
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Loews Corp  said on Monday that it planned to spin off its Lorillard Inc cigarette unit, whose brands include Newport, Kent and Maverick.
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Smoker&#39;s delight: Reporting earnings for the first time since it was created by the merger of RJ Reynolds and the US operations of Brown &amp; Williamson Tobacco, Reynolds American (nyse: RAI - news - people ) posted third-quarter profit of $339 million, or
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Altria Group Inc  said on Wednesday it plans to spin off its international tobacco unit but will not give details on the timing of the much anticipated move until January.
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SunGard, which provides software and services to top financial companies, is planning to announce Monday that it will spin off its disaster data recovery business into a separate publicly
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Conglomerate Loews Corp. LTR.N  agreed to buy an 8,000-mile natural gas pipeline system from  Entergy-Koch LP for $1.14 billion on Monday, in a bid to cash  in on rising U.S. demand for natural gas.
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The company has decided to leave the public markets.
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German drugmaker Bayer AG on Wednesday announced plans to spin off chemicals and polymers business Lanxess at the beginning of next year, a move designed to help it focus on health care and other core activities.
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Conglomerate Loews Corp. (LTR.N: Quote, Profile, Research) on Monday said it agreed to buy Gulf South Pipeline LP, which owns and operates an 8,000-mile interstate natural gas pipeline system, from Entergy-Koch LP for $1.136 billion.
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Altria Group Inc.  on Wednesday  said it plans to spin off its 89 percent stake in Kraft Foods  Inc.  on March 30, completing the long-awaited  separation of the maker of Oreo cookies from the Philip Morris  tobacco companies.
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Cablevision Systems Corp., a Long Island-based cable TV provider, said Tuesday it is suspending plans for a spinoff of its money-losing satellite broadcasting business and will put the unit on the market instead.
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The stent maker predicts it could raise at least $1 billion by spinning off a portion of the company to the public.
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Cablevision Systems Corp. on Tuesday said it was suspending a spinoff of Rainbow Media Enterprises and would pursue strategic alternatives for the division&#39;s Voom satellite television service instead.
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Rank is planning to sever its last link with its celluloid heritage with the sale or demerger of its Deluxe film-making arm. The group yesterday said it would investigate &quot;separating&quot; Deluxe
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Loews Corp.'s  $4.03 billion purchase of gas exploration and production assets from Dominion Resources Inc.  gives the conglomerate a way to spend excess cash and diversify its revenue stream as it bets on rising natural gas prices.
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(InfoWorld) - Yahoo will reorganize into three new units, as part of a shake-up that will see Chief Operating Officer Dan Rosensweig leave the company, Yahoo said Tuesday. The company said the new groups will help it focus on its most important customer segments: the consumer audience, advertisers, and publishers, in an effort to compete more aggressively. Once an Internet and Wall Street darling and consistently one of the Internet's top three sites, the company has struggled in the face of a changing Internet landscape, including the rise of social networking sites, and sharp competition from rivals like Google. The move was not entirely unexpected. Last month, an internal document now known asÂ the "Peanut Butter Memo"Â called for such a reorganization. The memo, written by Yahoo Senior Vice President of Communications and Communities Brad Garlinghouse, accused the company of involving itself in too many separate activities, spreading itself too thin like a layer of "peanut butter," and said it should focus instead on key areas. It also recommended up to a 20 percent reduction in headcount, although no cuts were announced in Yahoo's Tuesday statement. The new units are the Audience Group, the Advertiser & Publisher Group, and the Technology Group. Each group's head will report directly to Chief Executive Officer Terry Semel. The Audience Group will focus on its existing consumer products, such as search, Web-based e-mail, and news aggregation, while developing social networking, mobile and handheld content, and international offerings. Yahoo said a search was underway for a group head. The Advertiser & Publisher Group will handle advertising and relationships with Yahoo partner publishers. It will create a global advertising network both on and off Yahoo sites, but the company did not specify how that will happen, although it recentlyÂ partnered with U.S. newspapersÂ to provide targeted local advertising. Yahoo Chief Financial Officer Susan Decker will oversee this group. Decker will surrender that title and the company will seek a replacement for her, Yahoo said. Yahoo's new Technology Group will be charged with building and maintaining the infrastructure for these new efforts, and will continue its work on "Project Panama." The codenamed initiative is believed to be a new advertising system designed to compete with Google's AdWords, with ads served according to search terms entered by users. Chief Technology Officer Farzad Nazem will head the unit. The new units and titles will take effect beginning January 1, 2007. Rosensweig will leave at the end of March, Yahoo said. No replacement was immediately named.
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Reynolds American Inc. RAI.N, parent  of the No. 2 U.S. cigarette company, on Wednesday forecast 2004  profit of $5.75 to $6.05 a share, its first forecast since the  company was formed at the end of July.
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The U.S. tobacco king sets a date for its planned spinoff and announces share buybacks boosting its shares.