Astra not selling Bank Permata stake

JAKARTA • Indonesian conglomerate Astra International will not sell its stake in Bank Permata, the company's top executive said yesterday. Astra and Standard Chartered each owned 44.8 per cent of Permata as of Dec 31, according to Thomson Reuters data. Indonesian tycoon Tahir said he was interested in buying all of Permata and merging it with Bank Mayapada Internasional.

REUTERS

Retailer plans job cuts in revamp

LONDON • Britain's biggest department store group John Lewis said on Thursday it planned to cut jobs in a reorganisation of its soft furnishings retailing business and would make changes in how it operates its in-store restaurants. It said at the same time that it would be creating 386 other jobs, which will be offered to 773 of its 30,000 staff who face redundancy.

REUTERS