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...Rather than going belly up, however, Asia's largest airline by revenue is getting the lift it needs to stay in the sky - but not without shedding some bulk. With the government keen on keeping Japan's largest carrier in business, JAL is now set to transition into a three-year, state-backed restructuring plan. Before JAL's filing on Tuesday, Transport Minister Seiji Maehara said, "The government wants to continue to support JAL to ensure its continued stable and safe operations." The Enterprise Turnaround Initiative Corp. of Japan (ETIC), a quasi-government entity that buys the debt of troubled...
...from overseas. Both American Airlines and Delta Air Lines have been courting JAL for months in a bid to expand their Asia networks. American, as a partner to JAL through the Oneworld alliance, and its private equity partner are willing to offer JAL $1.4 billion. Delta, the world's largest airline operator, has offered $1 billion. JAL aimed to make the decision between American or Delta by the end of the month, but Transport Minister Maehara has said the decision will be delayed. Neither airline will be allowed to invest in JAL until new management is in place in February...
...vital for Kraft to be viewed as respectful of Cadbury's British values - especially in the U.K., the world's second largest candy market. But it needn't be unprofitable. Take the Mini, for instance. German automaker BMW, which started producing the cars in 2001 after the collapse of British manufacturer Rover Group, has reaped rich rewards by "playing up the Britishness and keeping a link to the heritage" of its spruced-up new models, says David Bailey, a professor of international business strategy and economics at Coventry University. Ford, on the other hand, fell afoul as the former owner...
Getting sweet tooths to give in to temptation has never been too difficult for Cadbury, the world's second largest confectioner. However, resistance, as it's now finding, is hard to maintain. Ending months of hostility, the firm announced on Tuesday, Jan. 19, it had approved a revised takeover bid from U.S. food giant Kraft. Linking Cadbury's Dairy Milk chocolate to Kraft's Philadelphia cream cheese in a $19.5 billion deal, Cadbury chairman Roger Carr said cheerfully in a statement, amounted to "good value for Cadbury shareholders...
...Establishing a rival to Mars as the world's largest confectioner does not come without challenges, though. Having borrowed heavily to buy Cadbury, Kraft will be under pressure to cut costs and raise margins at the British company. To some, that spells job cuts. The British trade union Unite claimed earlier this month that some 7,000 Cadbury workers would be under threat if the proposed takeover went through. Another analyst, Howard Wheeldon, a senior strategist at BGC Partners, questioned on Tuesday whether the acquisition would herald "a partial breakup" of the British business. (See a TIME video about...