James Hardie's asbestos worries set to spread to Asia: report
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Embattled building products firm James Hardie Industries NV is facing a potential flood of new asbestos compensation claims from Asian countries after a hard-won deal with Australian victims, a report said.
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Insurers and fund managers are set to cash in on Asia&#39;s private pension industry, which is expected to grow nearly four-fold in 10 years as the world&#39;s most populous region grows older.
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TONY JONES: Unions and asbestos victims have accused the James Hardie Board of protecting the chief architects of its underfunded compensation trust.
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James Hardie Industries NV , the biggest US home siding maker, said on Tuesday it has signed an initial agreement with unions and asbestos sufferers groups to set up a special purpose fund to support asbestos disease sufferers and their bereaved families.
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JAMES Hardie executives face criminal charges over the company&#39;s 2001 move to the Netherlands after a government commission found the building company underprovided a fund for asbestos victims by up to $2 billion.
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In Australia, the chief executive and chief finance officer of the James Hardie building materials company have stood aside. The move is the company&#39;s first response to a damning report on the way it failed
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MORE than 5000 building workers and asbestos victims have rallied outside a general meeting for embattled building products company James Hardie in central Sydney today.
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ELEANOR HALL: Talks began today between the former asbestos maker James Hardie, the ACTU and asbestos support groups aimed at reaching a deal to compensate thousands of future victims of the company&#39;s products.
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Building products maker James Hardie reached a landmark agreement Tuesday to compensate thousands of Australians suffering crippling lung diseases caused by the asbestos it made decades ago.
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Shares in James Hardie Industries NV rallied on news that two key executives will stand aside, rather than resign, over the company&#39;s underfunding of asbestos compensation.
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Building products giant James Hardie on Monday announced a 9 percent decline in half-year net profits through September and lowered its full-year profit forecast, citing costs linked to an asbestos claims case.
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SYDNEY - James Hardie Industries struck a deal to pay $1.1 billion to compensate asbestos-related disease sufferers on Tuesday, boosting the firm&#39;s stock as much as 8 percent as a 14-month row over funding neared its end.
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James Hardie Industries NV, facing aA$1.2 billion ($880 million) bill to compensate asbestos victims, said Chief Executive Officer Peter Macdonald quit, a month after an inquiry found he misled investors about the costs.
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SYDNEY (Dow Jones)--Australian building materials group James Hardie Industries NV (JHX) came under fire Wednesday from disgruntled shareholders and union groups
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SYDNEY: James Hardie Industries yesterday struck a deal to pay US$1.1bil to compensate asbestos-related disease sufferers, boosting the company&#39;s stock as much as 8% as a 14-month row over funding neared its end.
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MORE than 700 asbestos disease victims face reduced payouts in the immediate future after James Hardie&#39;s compensation fund today applied for provisional liquidation.
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Meredith Hellicar, chairman, and Peter Macdonald, chief executive of James Hardie Industries NV, speak on a teleconference from Sydney about the company&#39;s responsibilities to asbestos victims.