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Unionized sailors of HMM are threatening to go on their first-ever strike in the company’s history, thereby raising concerns over the possibility of setbacks in Harim Group’s plan to acquire the shipping firm and the shipment of goods from the Port of Busan, according to industry officials, Wednesday.
Companies that traditionally focused on manufacturing baby products, are closing the businesses due to the diminishing demand resulting from the country's low birthrate, according to industry officials, Sunday.
South Korean agri-food giant Harim Group reaffirmed its commitment to use container transportation and shipping company HMM's substantial cash reserves to bolster the shipping firm's global competitiveness as it moves close its acquisition deal, denying concerns about potential misappropriation of funds. “We are committed to making strategic use of HMM's 10 trillion won ($7.7 billion) reserves to...
HMM’s two largest shareholders appear to have differing views on the selection of Harim Group as the preferred bidder to acquire the nation’s largest container shipping company, amid growing skepticism about the poultry processor’s plan to raise 6.4 trillion won ($5 billion) for the takeover, according to industry officials, Sunday.
The major U.S. index futures are currently pointing to a higher open on Thursday, with stocks likely to regain ground following the sell-off seen late in the previous session.