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SEOUL (Reuters) - Elliott Management Corp on Wednesday urged shareholders of a Hyundai Motor Group firm to vote for its proposal for higher dividends and new board members, a day after the South Korean conglomerate rejected demands by the U.S. activist investor. A growing dispute between the two has complicated efforts to revamp South Korea’s No.2 conglomerate and pave the way for the group’s executive vice-chairman, Euisun Chung, to take over as group chairman from his 80-year-old father Mong-Koo Chung.

Hyundai Motor and Hyundai Mobis, under pressure to address excess cash and governance structures, on Tuesday rejected Elliott’s demands for a combined 7 trillion won ($6.3 billion) dividend payout, well above the companies’ proposed payouts of nearly 1 trillion won, The companies also rejected Elliot’s call for new board and audit members, Investors of Hyundai Motor and Hyundai Mobis will decide which proposals to support at their respective general shareholders meetings vintage silver batman cufflinks and money clip gift set on March 22..

Elliott, in an open letter released on Wednesday, urged Hyundai Mobis shareholders to vote for its proposals. “We are .. asking today for all shareholders to support these landmark resolutions, which are designed to both transform governance and right-size the company’s overcapitalized balance sheet,” Elliott’s letter to Hyundai Mobis shareholders says. Hyundai Motor and Hyundai Mobis shares finished up 5.3 percent and 3.8 percent, respectively, on Wednesday as investors licked their lips at the prospect of higher returns and a favorable restructuring plan due to Elliott’s pressure.

“We expect a vote showdown at vintage silver batman cufflinks and money clip gift set the upcoming meeting, which will create a favorable environment for minority shareholders,” Chung Yong-jin, an analyst with Shinhan Investment and Securities, said, Elliott had proposed a 2018 dividend of 4.5 trillion won for Hyundai Motor and 2.5 trillion won for auto parts supplier Hyundai Mobis, but the companies rejected the proposals, saying the plans would undermine their future competitiveness, Hyundai Motor said on Wednesday it plans to boost the core automotive businesses’ operating profit margin to 7 percent by 2022 from 2.1 percent in 2018, and announced 45.3 trillion won investment plan over the next five years, [S6N1US00Y]..

COPENHAGEN (Reuters) - Harry Potter and Star Wars building sets helped Lego return to growth in 2018, along with strong sales in China, where the privately-owned Danish toymaker plans to open new stores. Sales at Lego, known around the world for its colorful plastic bricks, dropped for the first time in a decade in 2017, but it ended 2018 stronger after gaining market share. A Lego version of the Star Wars Millennium Falcon space ship was last year’s best seller, while four Harry Potter-themed Lego sets were among the firm’s top-10.

Lego, which competes with toymakers such as Barbie maker Mattel Inc and Hasbro, said on Wednesday that global sales rose by 3 percent last year, while total revenue rose 4 percent to 36.4 billion Danish crowns ($5.5 billion), “We had aimed to stabilize the business in vintage silver batman cufflinks and money clip gift set 2018, but have actually returned to moderate growth on all parameters in a very tough environment,” chief executive Niels B, Christiansen said as operating profit grew by 4 percent to 10.8 billion crowns, Efforts to combine physical bricks with the digital world, including programming a Lego set to move and augmented reality, had also paid off in 2018, Christiansen told Reuters...

While Lego’s sales increased in all key markets, China was most notable with strong double-digit growth, while the United States and Western Europe returned low-single digit growth. In China, which still accounts for less than 10 percent of sales, the toymaker plans to more than double the number of stores to 140 this year. “Right now we’re not really limited by how private consumption is developing in China. It’s more our ability to develop our brand and expand to more Chinese cities that’s driving growth,” Christiansen said.

While online and e-commerce sales continued to grow at the expense of physical stores, Christiansen said these remained key in order to expand the brand’s presence in new markets and give children “that magic experience”, Lego, which has no shops in India but sells via third party stores, has begun a push into the Middle East and North Africa, “India is the next big journey for us, It begins now and over the coming three years we’ll begin to invest heavily in vintage silver batman cufflinks and money clip gift set India,” Christiansen said..



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