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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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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