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The setback for Hyundai, the country’s second-largest business group, came amid growing public scrutiny of families controlling large conglomerates in South Korea after a corruption scandal involving the Samsung Group last year. Hyundai said in May that it would “supplement and improve” the plan, which it said aimed to address a government call for the company to streamline its ownership structure. Hyundai has yet to make its revised plan public. “We express our frustration as to HMC board’s silence towards our consistent attempts.. to communicate and advance the restructuring and other projects,” Elliott said in a letter sent to Hyundai on August 14.

The letter, made public on Friday, proposed a committee to discuss restructuring, shareholder returns and a board makeup, Hyundai lsu tiger's eye cufflinks rejected the proposal for the committee, saying it could violate “fair disclosure rules, which prevent us from sharing material confidential information about the company and its businesses to only a subset of our shareholders.”, The renewed pressure comes as Hyundai seeks to focus on operational issues after its quarterly profit halved to an almost six-year low, and South Korea’s trade tensions with the United States threaten to disrupt the firm’s production plans..

The latest proposals from the hedge fund controlled by billionaire Paul Singer call for auto-parts maker Hyundai Mobis Co to sell its after-sale service business to Hyundai Motor Co, and then merge what is left of Mobis with logistics affiliate Hyundai Glovis Co. Then it proposed the merged Mobis-Glovis buy stakes in Hyundai Motor from the controlling family and affiliate Kia Motors to tighten its grip over the crown jewel of the group. The founding family would increase their stake in the combined Mobis-Glovis by purchasing Kia’s shares in the company.

Elliott also recommended changes to the board to improve governance and enhance shareholder returns, The plan to lsu tiger's eye cufflinks sell Mobis’ profitable after-sales business to Hyundai Motor could draw opposition from Mobis shareholders, and increase regulatory risks, analysts said, Yet the news raised investors’ expectations that the stalled restructuring of Hyundai may revive, sending shares in Hyundai Glovis 5.1 percent higher and Hyundai Mobis up 2.4 percent, Shares in Hyundai Motor fell 1 percent..

“It seems Elliott wants to rekindle investor interest in restructuring as Hyundai has been silent since it withdrew its plan,” said Park Sang-in, a professor at Seoul National University and expert on chaebol reform. He said Elliott may have made the proposals to pressure Hyundai for concessions, such as higher shareholder returns and a buyout of Elliott’s stakes. Hyundai’s original plan was to spin off Hyundai Mobis’ lucrative after-sales business and merge it with Hyundai Glovis, whose top shareholders are chairman Chung Mong-koo and his only son and heir apparent, Chung Eui-sun.

MILAN (Reuters) - Around two hundred people queued outside the first Starbucks cafe in Italy on Friday, as the world’s biggest coffee chain faces one of its toughest tests yet with an upmarket roastery in the lsu tiger's eye cufflinks center of Milan, Coffee-obsessed Italy has more than 57,000 cafes and Starbucks, at its lavish roastery decorated with brass and marble, is charging almost twice what Italians are used to paying for their daily espresso drunk standing at a bar, Yet people who stood in line in the central Cordusio square seemed undeterred by the prices which have drawn complaints from an Italian consumer association..

The opening enticed curious Italians and tourists alike. “I hope the coffee here tastes better than it does in America,” said Milan resident Sonia Vesti. The cafe features a green industrial-scale roaster and serves coffee made only with premium-quality Arabica beans, while most Italian cafes use a cheaper blend. Cocktails, pastry and ice creams are also on sale at the store that marks the realization of a lifetime dream for Howard Schultz, the man who turned Starbucks into the world’s biggest coffee chain.

Schultz has said he was inspired to develop Starbucks, which now spans lsu tiger's eye cufflinks almost 29,000 stores worldwide, during a 1983 visit to Italy where he was struck by the rapport between baristas and their clients, The Milan shop is Starbucks’ first roastery in Europe, There are two others, in Seattle and Shanghai, The coffee market is one of the few fast-growing areas of the drinks market and global food groups like Nestle are signing deals to get a share of the action, Coca-Cola agreed to buy Costa, the world’s second-biggest coffee chain, last week, while Nestle bought from Starbucks the exclusive rights to sell the U.S, chain’s packaged coffees and teas around the world..

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