Bankruptcy
Kodak online photo service going to Shutterfly in Jul
Kodak will close its online photo service on 2 July after a federal bankruptcy judge approved selling the business to Shutterfly for USD23.8 million.
Aquascutum to close Corby factory with loss of 115 jobs
Administrator for 160-year-old trenchcoat-maker says "difficult decision" helps protect remaining 135 employees
Trenchcoat-maker Aquascutum is shutting down its factory in Corby, UK, with the loss of 115 jobs, after falling into administration last week.
Kodak proposes bonuses
Eastman Kodak Co. is seeking permission to pay about 300 executives and other employees a total of USD13.5 million in bonuses to persuade them to stay with the company as it reorganizes under bankruptcy-law protection.
The Rochester-based photography company said the targeted employees have knowledge and skills critical to help the business emerge from Chapter 11 and would be difficult to replace if they left to pursue other offers.
Kodak sells online business to Shutterfly, patent sale pending
Eastman Kodak Co has agreed to sell its online photo services business to Shutterfly Inc for USD23.8 million, kicking off the bankrupt photography pioneer's re-launch as a much slimmer company although a patent sale seen crucial to its turnaround may still be months away.
The once-iconic company that invented the hand-held camera has said it will quit the camera business and is expected to fetch USD1 billion to USD2b from the sale of about 1,100 digital patents, which is due to get under way by 30 June.
China's Youngman group makes revised bid for Sweden's Saab: report
Chinese group Youngman has placed a revised bid for bankrupt Swedish carmaker Saab, according to daily Svenska Dagbladet on Monday.Pang Qingnian, founder of the Youngman group, said the bid was made a week ago but declined to say how much it was worth.
Kodak goes bankrupt after 130 years
Eastman Kodak, which invented the hand-held camera and helped bring the world the first pictures from the moon, has filed for bankruptcy protection, capping a prolonged plunge for what remains one of America's best-known companies.
The 130-year-old photographic film pioneer, which had tried to restructure to become a seller of consumer products like cameras, said it had also obtained a USD950 million, 18-month credit facility from Citigroup to keep it going.
Kodak sues Fujifilm in bid to defend patents
Even as the specter of bankruptcy protection looms, Eastman Kodak Co. is intensifying its efforts to defend its intellectual property. In a lawsuit it filed in New York on Friday against Fujifilm Corp., Kodak claimed some of its Japanese rival's cameras infringe its digital-imaging technology. At the beginning of the week, Kodak sued Apple Inc. and HTC Corp. claiming some of their smartphones, tablets and other devices infringe Kodak patents related to transmitting images.
Kodak on brink of bankruptcy
Eastman Kodak Co., the iconic 131-year old imaging company, is reportedly on the verge of bankruptcy after recording steep annual losses since 2007.
The Rochester, NY-based company is preparing to file Chapter 11 bankruptcy in the coming weeks, according to a report from the Wall Street Journal citing people with insider information.
Volkswagen to improve work-life balance
To fight the burnout syndrome at work, German automobile company Volkswagen AG has taken a bold move to limit email functionality of some company smartphones after work hours.
Every day after 6:30pm, employees' Blackberry smartphones will not be able to receive any company emails until 7:30am the following day.
China's Pang Da says halts bid to acquire Saab
China's Pang Da Automobile Trade said on Wednesday that it would halt its attempt to acquire Swedish carmaker Saab in light of Saab's bankruptcy.
Saab was declared bankrupt by a court on Monday, ending a nine-month survival battle by its Dutch owner.
