Not long after the Merrill Lynch board of directors agreed to oust Stan O'Neal as the company's chief executive, the same board offered to allow O'Neal to remain in the post on an interim basis, according to a person briefed on the matter.
E. Stanley O’Neal has been ousted as chairman and chief executive officer of Merrill Lynch that much is certain as the board of directors of the nation’s largest brokerage firm gets ready to prepare an official announcement.
If Merrill Lynch Chief Executive Stan O'Neal is forced out, there's little doubt who the firm's army of more than 16,000 brokers would like to see replace him: their own boss.
Time Warner shares rose nearly 4 percent on a report that Chief Executive Richard Parsons plans to announce his exit as early as next week.
“Power Lunch” is at the Mall of America outside Minneapolis/St. Paul, to look at alternative energy and consumer activity -- and a surprise definition for "retail stocks." Here's what some of the guests on the program are saying.
British health authorities today announced that starting next fall, all 12- and 13-year-old girls will have to get the controversial shots to prevent the sexually transmitted virus that can lead to cervical cancer. Merck and Sanofi-Aventis are partners on the vaccine Gardasil and the UK-based GlaxoSmithKline makes a similar one Cervarix.
If the stock closes down at least 4.46% today (as I write this it is off nearly 7%) Eli Lilly will suffer its worst one-day loss in more than four years, according to our resident statistical expert Robert Hum. If it were to close off more than 7.79%, Hum says it would be the stock's biggest one-day fall since Oct. 23, 2002--almost five years to the day.
Haven't had much time to blog as I'm out here covering the California wildfires. Wish I could tell you all I've seen but here's at least one slice. For all the problems people sometimes have with their insurance companies, here in Southern California, right now those agents are heroes.
With earnings season underway, CEOs are out talking about their companies. Here's what three of them told CNBC on Wednesday.
Merrill Lynch Chairman and CEO Stan O'Neal told shareholders that "mistakes" in subprime lending exposure led to $7.9 billion in write-downs for the third quarter.
Investors are still jittery about the future of Bear Stearns, and they cite several reasons, CNBC has learned.
The chief executive of online gaming company Unibet Group has been arrested in the Netherlands on a French warrant, the company said Tuesday.
The world's largest retailer has spawned this blog's biggest response ever! The anti-Wal-Mart emails (some 655, almost all I would say from Wal-Martwatch.com readers) keep pouring into the Retail Detail inbox. We'll continue to post your thoughts and responses so keep them coming. I've yet to hear from any on the pro Wal-Mart side.
What can I say? I love alliteration. But investors in the drugmaker are probably in no mood for a cute, clever turn of phrase. SGP is absolutely getting hammered this morning after coming in with third quarter earnings below expectations.
I watched the latest vote results from rank and file United Auto Workers at Chrysler and thought to myself, "what do these people want?" Through the weekend an estimated 11,000 UAW have rejected the tentative contract the union agreed to with Chrysler. Some 6,000 have voted in favor of it.
CtW Investment Group, a pension fund advisory group affiliated with seven labor unions, said it sent a letter to the board of Countrywide Financial, urging it to ask for the resignation of Chief Executive Angelo Mozilo, The Wall Street Journal said.
An ebbing tide may take all ships lower, but that doesn't mean the housing crisis is going to make people stop buying mattresses.
“Power Lunch” is in Philadelphia. Here's what some of the guests on the program are saying.
What's on the minds of today's chief executives? Here's a sampling of what CEOs are saying on CNBC.
Finally, at long last, someone in Detroit has seen the light. That someone is Chrysler president Jim Press, and what he's about to do is something executives in Detroit should have been doing for decades: Stop building cars/trucks/SUV's that don't sell.