World Business Briefing | Americas: Canada: Agloma Steel and German Suitor Part Ways
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Algoma Steel said it had failed to reach agreement on a takeover by Salzgitter of Germany and had scheduled preliminary discussions with other potential buyers. Algoma said in mid-February that it might be acquired by Salzgitter at a price lower than where the companyâs shares were trading at the time. Algoma negotiated with potential buyers in 2005 and renewed negotiations in February 2006 without reaching an agreement.
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Phelps Dodge Corp. PD.N abandoned its   friendly bid for Inco Ltd. N.TO on Tuesday, leaving Brazil's   CVRD VALE5.SA RIO.N as the only suitor for the Canadian   nickel giant.
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The three largest shareholders in MAN sold their 25 percent stake in the German machinery and vehicle maker on Wednesday for EUR1 billion, marking a further step in the disentangling of Germany Inc., the ...
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BOCHUM, Germany  - Workers at the Bochum factory of German car maker Opel voted to return to work after paraylsing assembly lines for six days in protest at plans by Opel&#39;s US parent, General Motors, to slash 12,000 jobs in Europe.
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ESSEN, Germany  - Germany's largest steelmaker, ThyssenKrupp , will go through with the 2.3 billion euro ($3.04 billion) construction of a downstream steel mill in the United States irrespective of whether it can acquire Canada's Dofasco.
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Roechling Industrie Verwaltung, the holding company of the Roechling family, said that it had decided to sell its stake in the German automotive and defence technology specialist Rheinmetall.
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Canadian Immigration Minister Judy Sgro,  already embroiled in a scandal over favors given to a Romanian  stripper, resigned on Friday after a pizza shop owner said she  reneged on a promise to give him asylum in Canada in exchange  for free pizza.
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Bayerische Motoren Werke AG, the world&#39;s second-largest maker of luxury cars, said Karl-Heinz Kalbfell, 54, resigned as head of its Rolls-Royce Motor Cars unit to take a position at an unidentified auto-industry company.
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Workers at Opel auto plants in Bochum walked out Thursday as soon as the parent company, General Motors, announced it was cutting 10,000 jobs in Germany.
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MORTSEL, BELGIUM -- Belgium&#39;s Agfa-Gevaert, one of the best-known names in camera film, said yesterday that it is quitting the industry because of the booming popularity of digital cameras.
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U.S.-based Phelps Dodge Corp. PD.N   abandoned plans to buy up Canada's Inco Ltd. N.TO on Tuesday   due to lack of shareholder support, leaving Brazil's CVRD   VALE5.SA RIO.N as the only suitor for the Canadian nickel   giant.
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Ketchum and TBWA\\PR, both members of the Omnicom Group family, have merged their public relations operations in Germany.
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Goldman Sachs Group Inc  and  Credit Suisse Group  on Friday said they will cut  about 2,000 job worldwide as a credit crisis puts a damper on  fixed-income trading and corporate dealmaking.
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Arcelor Mittal , the world's  largest steelmaker, said on Sunday it has terminated an  agreement to sell its Sparrows Point, Baltimore facility to E2  Acquisition Corp due to E2's inability to secure financing.
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The Canadian aluminum company has agreed to be purchased by the Indian company Hindalco Industries.
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German steelmaker ThyssenKrupp  is not holding merger or cooperation talks with either U.S. Steel Corp  or Severstal , a ThyssenKrupp spokesman said on Monday, denying a media report to that effect.
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Struggling German retailer KarstadtQuelle on Thursday agreed with employee representatives on a cost-cutting plan that will include eliminating some 5,500 jobs, or 12 percent of its work force, and a three-year pay freeze.