Hardie inks $1bn compensation deal
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Building products company James Hardie Industries has struck Australia&#39;s largest personal injury deal, agreeing to pay asbestos victims more than $1 billion over the next 40 years.
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The ACTU, Unions NSW and asbestos groups have today signed a Heads of Agreement with former asbestos products manufacturer James Hardie for what is believed to be the largest personal injury settlement in Australia&#39;s history.
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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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PERTH (Dow Jones)--Signing up China&#39;s biggest construction company, Fortescue Metals Group Ltd. (FMG.AU) on Monday inched closer to realizing its A$1.
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While details of the new contract are still being worked out, Long is getting a pay raise of about $100,000 a year in an annual salary package totaling $425,000.
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The James Hardie company has signed an initial agreement for the largest personal injury settlement in Australian history. Australian Council Trade Unions (ACTU) secretary Greg Combet is outlining the deal to rallying workers.
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Insurer fined Â£1.26m after failing to take reasonable care of policyholders' details
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Australian building products group James Hardie has agreed to pay $1.1bn (Â£568m) to victims of asbestos-related diseases. The landmark deal could see thousands of people suffering from lung diseases - caused
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New economy bigwig pays off a crusty old foe.
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The auditor was the vice president of a company that received more than $1.2 million in payments.
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The business racked up nearly $1 billion in losses since 2001.
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Business & money: Despite fatal accident in Cumbria, company awards chief executive Â£200,000 payout.
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The US Department of Labor announced Wednesday that it had reached a $1.9 million settlement with a contractor for Target Corp. after finding that the contractor had not paid overtime
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Legal action was taken against IBM concerning its conversion to a controversial cash-balance pension plan. Under the terms of the agreement, IBM will pay at least $300 million to settle certain claims in the complex lawsuit.
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Microsoft is paying out more than $1bn (Â£497m) to repair chronic problems with its Xbox 360 games consoles, which break down in a fault known as the 'red ring of death'.
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SYDNEY: Australian building products firm James Hardie Industries NV may face criminal charges after a government inquiry found it broke the law by saying it had enough money in a fund to compensate thousands of asbestos victims.
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The automaker will take $1 billion charge and pay a total of $7 billion to cover retirement costs for workers at the Delphi Corporation.