Nissan shifts non core office jobs to India
Smyrna: Some of Nissan Motor Co. non-core office jobs in USA will be outsourced to India as part of the company's effort to cut costs. The company noncore tasks at its Smyrna assembly plant will go to a business unit of GE Capital International Services, which will handle the work in India, Nissan North America has said.

The move is part of an ongoing cost-cutting effort and will affect about 150 Nissan employees and contract workers in the United States.

Nissan employs 17,000 people in the United States, including 7,100 in Tennessee at Smyrna and an engine manufacturing plant in Decherd.
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US judge dismisses Yukos bankruptcy case
Houston: Russian oil company Yukos lost its bid for shelter in US courts when US Bankruptcy Judge Letitia Clark threw out Yukos' Chapter 11 case, saying the company didn't have enough of a presence in the United States to establish US jurisdiction over a Russian company.

Yukos had two Texas bank accounts and its displaced finance chief conducted business from his Houston home. The ruling forces Yukos to rely on European arbitration proceedings and appeals in Russian courts in its battle against a disputed multibillion-dollar back-tax levy. It also squashes bankruptcy-related lawsuits stemming from the auction of a key subsidiary, Yuganskneftegaz, that essentially gutted the company.

Those lawsuits include a $20 billion claim against four state companies for allegedly violating asset protection afforded under US bankruptcy law by participating in the December 19 sale. Those companies include state-owned natural gas giant Gazprom and state-owned oil company Rosneft.

The Russian government had ignored the US proceedings, saying Clark had no authority on Russian soil. But if Clark had accepted jurisdiction, ongoing bankruptcy and litigation proceedings could have stifled business dealings by Gazprom and Rosneft outside of Russia.
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