Submerged.(business news items include Daimler-Benz taking over the operations of its subsidiary, AEG, and Sony planning to expand from eight to ten companies)(Business and Finance)(Brief Article)
Economist (US), The, January, 1996
Daimler-Benz, Germany's largest industrial group, at last absorbed its AEG subsidiary, with its four core operations: microelectronics, rail technology, postal automation and diesel engines.
Granada, ever-more confident of winning the pounds3.8 billion ($5.9 billion) battle for Britain's premier hotel chain, bought 9.2% of Forte shares for pounds336m on the open market. That move came after Sir Rocco Forte belatedly agreed to split his role of chairman and chief executive.
Remy Cointreau, a French drinks group already in financial difficulty, said that operating profits slumped by 45% to FFr216m ($44m) in the six months to end-September, largely because of a big drop in sales of cognac in China, a leading market for the tipple.
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