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In the letter seen by Reuters, the UAW asked GM to rescind the decision and resolve the fate of the plants during negotiations next year custom photo cufflinks uk online. Calling the plants “unallocated” does not relieve GM “of its obligation to comply” with a moratorium on plant closings, the UAW letter said. “We will use all of our resources to enforce our agreements,” the letter said. GM did not immediately comment. Since early 2017, GM has cut two of the three production shifts at the Ohio plant that makes the Chevrolet Cruze car, eliminating 3,000 jobs. GM has said it is closing the plants due to sagging demand for cars..
In addition to the plant closings, GM is cutting about 8,000 salaried jobs in North America on top of the 2,250 salaried workers who volunteered to take buyouts. Barra has additional meetings planned with lawmakers on Wednesday and Thursday from states that are impacted and some congressional leaders, congressional aides said. At least one Democrat, Tim Ryan of Ohio, has called for congressional hearings on GM’s decision next year. Maryland’s two senators, Ben Cardin and Chris Van Hollen, and four other members of Congress from the state wrote Barra on Friday asking her for a meeting about the company’s plans to close a facility near Baltimore that received more than $100 million in federal subsidies custom photo cufflinks uk online.
LONDON (Reuters) – GlaxoSmithKline has agreed to buy U.S. cancer specialist Tesaro for $5.1 billion, a costly investment to rebuild the pharmaceuticals business by new Chief Executive Emma Walmsley that unnerved investors. GSK has lagged rivals in recent years in producing multibillion-dollar blockbusters and it largely sat out a spate of dealmaking by rival drugmakers under previous CEO Andrew Witty. That is a situation Walmsley wants to change custom photo cufflinks uk online. Britain’s biggest drugmaker is paying $75 a share for Tesaro, an 110 percent premium to the 30-day average price. It is also taking on Tesaro’s debt..
News of the lofty valuation and the fact that buying Tesaro will take years to pay off sent GSK shares down 8 percent on Monday, their biggest daily fall in 10 years. Boston-based Tesaro has long been seen as a potential takeover target, with other suggested acquirers in the past including Switzerland’s Roche. The definitive agreement to acquire Tesaro, which means GSK has to pay $162.5 million if the tie-up is terminated, comes on the same day as GSK sold its India-focused Horlicks nutrition business to Unilever for $3.8 billion, freeing up cash custom photo cufflinks uk online.
Tesaro gives GSK a marketed product for ovarian cancer, Zejula, which belongs to a promising class of medicines called poly ADP ribose polymerase (PARP) inhibitors custom photo cufflinks uk online. But Zejula lags behind AstraZeneca and Merck & Co’s rival PARP drug Lynparza, which sells nearly three times more, while Clovis Oncology also has a competitor called Rubraca. PARP inhibitors work by blocking enzymes involved in repairing damaged DNA, thereby helping to kill cancer cells, and they are a growing focus for drug research, with potential for use beyond ovarian tumors in breast, lung and prostate cancers..