Page 25 - Aruba Today

BUSINESS A25
Wednesday 13 January 2016

US job openings rose in November; hiring, quits rise

JOSH BOAK ed 5.4 million. That figure nancial turmoil in China, global economy. Advertise- find better-paying work,
has slipped after peaking lower oil prices and a Euro- ments for health care jobs rose 6.3 percent over the
AP Economics Writer at a record 5.7 million in pean economy tenuously have surged 34 percent past year to 2.83 million.
July, but stands 11 percent emerging from its recent over the past 12 months to Rising quits can also help
WASHINGTON (AP) — U.S. higher than a year ago. struggles. more than a million. Post- broadly lift wages.
“The labor market will con- Only manufacturers have ings for hotel and restau- That’s because most peo-
employers advertised tinue to improve, pulled back on job open- rant jobs have climbed 22 ple quit their jobs when
but that we will see some ings over the past 12 percent to 698,000. they have another one
slightly more jobs in Novem- moderation in job growth,” months, a reflection of the Overall hiring picked up 3.4 lined up, usually at higher
said Daniel Silver, an econ- stronger dollar and weak percent to 5.2 million from pay. More quitting also
ber as overall hiring edged omist at JPMorgan Chase. international growth hurt- a year ago. forces companies to pro-
The annual increase shows ing sales abroad. The number of people quit- vide raises for their existing
up and more Americans that employers remain The picture looks healthier ting their jobs, a sign of con- workers to keep them from
confident despite the fi- for jobs insulated from the fidence that people can jumping ship.q
quit their jobs in signs of a

healthier environment for

workers.

The Labor Department said

Tuesday that the number

of job postings rose 1.5 per-

cent to a seasonally adjust-

Pfizer, Allergan CEOs: Tie-up aims for growth, not cost cuts

The Allergan logo appears above a trading post on the floor of the New York Stock Exchange. eliminating thousands of quisitions.
Pfizer and Allergan are joining in a $160 billion stock deal that will create the world’s largest drug- jobs to boost profit quickly, In the last few years, the
maker. Speaking at an industry health care conference, Tuesday, Jan. 12, 2016, Pfizer CEO Ian though usually just tempo- former Actavis PLC has
Read and Allergan CEO Brett Saunders both said that Pfizer’s purchase of Allergan is aimed at rarily. bought Watson Pharma-
helping the combined company grow faster. ceuticals, Forest Laborato-
Over the last 15 years, ries and Warner Chilcott,
(AP Photo/Richard Drew) along with many smaller all multibillion-dollar deals.
acquisitions, Pfizer has gob- Buying Warner Chilcott al-
LINDA A. JOHNSON jobs and other costs as the would sharply decrease bled up Top 20 drugmakers lowed Actavis to do its own
AP Business Writer companies previously have Pfizer’s income tax bill Warner-Lambert, Pharma- tax inversion, moving its
TRENTON, N.J. (AP) — The done. compared to current U.S. cia and Wyeth, paying $68 headquarters from Parsip-
heads of drugmakers Pfizer The deal announced last tax rates, though the drug- billion for Wyeth alone in pany, New Jersey, to War-
and Allergan said Tuesday November would move maker’s operations would 2009. ner Chilcott’s Dublin home.
that the record $160 billion Pfizer’s official headquar- still be run from New York. Speaking at the 34th Annu- Actavis then bought Aller-
combination they’re plan- ters for tax purposes from Pfizer has a history of mak- al J.P. Morgan Healthcare gan Inc. last March, later
ning is meant to produce New York to Allergan’s ing such huge acquisitions Conference in San Francis- changing its name to the
more medicines and boost base in Ireland. The strat- of other drugmakers, then co Tuesday, Pfizer CEO Ian better-known Allergan.
revenue, not to just slash egy, called a tax inversion, closing some facilities and Read and Allergan CEO Read said Pfizer and Aller-
Brett Saunders both said gan have little overlap in
that Pfizer’s purchase of Al- their operations and both
lergan is aimed at helping have removed consider-
the combined company able excess costs.
expand faster. That means their integra-
“This isn’t about cost-cut- tion, already in the early
ting. steps, will focus on factors
This is about leadership and such as where best to in-
growth,” said Saunders, vest research dollars and
adding the companies how to create value for
have “lots of new drugs” shareholders, he said.
they plan to launch in the “This is going to be a pow-
next few years. erhouse company with a
His company, which mostly strong dividend,” Saunders
made generics until recent predicted, “and the best
years, likewise has grown pipeline in the industry.” q
quickly from a surge of ac-

Airbus tops Boeing in jet orders, but both face China risk

ANGELA CHARLTON But concerns about China’s “We should not mix up ing. That could help in- pete in the market for large
Associated Press plunging financial markets problems we can see on crease air travel, but only if passenger jetliners, the
PARIS (AP) — Airbus over- and slowing growth are the financial markets and the economy does not suf- C919. Bregier downplayed
came technical toilet trou- rippling throughout Asia, the real economy,” he told fer a sharp drop. the potential Chinese chal-
bles and engine delays to where a growing middle reporters in Paris, in present- Chicago-based Boeing lenger.
win hundreds more plane class has driven demand ing Airbus’ annual orders reached a deal last year to Airbus executives remain
orders in 2015 than rival for new airplanes in recent and forecast for the year. build an assembly plant in upbeat about the overall
Boeing, but a bigger prob- years. Bregier predicted that new China, as the U.S. company aviation industry despite
lem may cloud this year for Airbus CEO Fabrice Bregier U.S. visa policies would tries to match Airbus’s pres- signs that aircraft demand
both companies: China’s largely shrugged off the boost Chinese air travel, ence in the world’s second- is slowing. Industry associa-
economic slowdown. recent market turmoil on and that Asian middle class largest economy. tion IATA recently lowered
Airbus SA and Boeing Co. Tuesday, insisting that his demand would continue to China, too, is trying to get its long-term air traffic fore-
are battling to win market Toulouse, France-based grow. in on the industry. Chinese cast and warned that low
share in China, forecast to company is sticking to As its economy slows, Chi- state-owned Commercial oil prices have hurt pros-
become the world’s big- plans for a new facility in na is trying to shift its focus Aircraft Corp. has unveiled pects in key emerging mar-
gest air travel market in a Tianjin next month and to away from manufacturing the first plane produced by kets such as Russia and Bra-
little more than a decade. its overall strategy in China. toward consumer spend- a Chinese initiative to com- zil. q