Liquidity is up. Overhead is down. That's the good news at Countrywide Financial, according to Chairman and Chief Executive Angelo Mozilo. But in an exclusive interview with CNBC, Mozilo declined to say that the corner has been turned in the housing and credit markets.
Marsh & McLennan said Monday that Daniel Glaser will become chairman and chief executive of Marsh Inc, the insurance brokerage's main operating subsidiary, effective Dec. 10.
Motorola, which has been fending off criticism from shareholder Carl Icahn, has named Greg Brown as its chief executive, replacing Ed Zander, who will remain chairman until the company's annual meeting in May.
Senator Herb Kohl (D-Wisconsin), the Chairman of the Senate's Special Committee on Aging, has made public a copy of a letter he recently sent to Genentech's President of Product Development, Dr. Susan Desmond-Hellmann--a frequent guest on CNBC--regarding the company's new policy on the use of the eye drug Lucentis.
Who'd have thunk it. Russia has become one of the hottest and fastest growing auto markets in the world. Now Chrysler wants a piece of the action and it may wind teaming up with a Russian automaker GAZ. Today in Michigan Chrysler executives and Michigan's governor are reportedly set to meet the president of GAZ to discuss the Russian automaker investing in the U.S.
Regarding my post from yesterday about Lilly CEO Sidney Taurel, a spokesman left me a voicemail this morning to say it has no intention of backing out of the interview next week. I've got a tentative commitment from Bristol-Myers Squibb to interview its new CEO Jim Cornelius for the first time at that company's analyst meeting next week.
Apple CEO Steve Jobs, the man behind the popular iPod, is the world's most powerful businessman, according to Fortune Magazine's list of the 25 most influential executives.
If you arrive for work at CNBC headquarters early enough you can pick up a copy of "The Wall Street Journal" at the lobby desk when you walk in. Today, I grabbed mine and set it down on my desk while I logged onto my computer and cleaned out my inbox.
Executive search firm CT Partners took its annual look at the hottest jobs in business and the characteristics of the executives who fill these positions. Executives with a track record of managing risk are in demand.
Late yesterday, a bullet crossed the Dow Jones newswire saying, "FDA Warns GlaxoSmithKline on Breast-Cancer Drug Promotion." Almost immediately, my producer and I got a call from the CNBC staffer who was manning what we call our "Alerts Desk" asking us if we'd seen the news and if we could provide any context.
So, does this mean I'm gonna get scooped by Reuters on Merck stories? I'm just kidding, but that was one of my reactions when I saw the press release this morning from Merck announcing that it's putting the CEO of Reuters, Tom Glocer, on its Board of Directors. The head of a financial data and news company on the Board of a major drug company. Very interesting.
The controlling shareholders of Telecom Italia on Monday designated Franco Bernabe the new chief executive and Gabriele Galateri the new chairman, in a move that should end a period of limbo at Europe's fifth-largest telecommunications company.
Dutch supermarket group Ahold said on Wednesday its third-quarter net income rose to 214 million euros ($316.3 million), beating market expectations, adding it plans to pay an annual dividend for 2007.
H&R Block, the largest U.S. tax preparer, said that Chairman and Chief Executive Mark Ernst had resigned, following mounting losses tied to subprime mortgages.
The British government is open to any measure to save mortgage bank Northern Rock as long as its depositors, the public purse and financial stability are not jeopardized, finance minister Alistair Darling said on Monday.
SAP, Europe's leading software company, said it was mulling a sale of its TomorrowNow U.S. unit, which is at the centre of a legal battle with arch-rival Oracle.
If the writer's strike has you looking for alternatives to insomnia-fighting late-night TV shows, then Pfizer may have just what the doctor ordered. Tune into the company's web cast for investors and analysts at 11 p.m. Eastern Daylight Savings Time on Thursday, November 29th. If you don't believe me check out the press release on the Pfizer web site. The world's biggest drug company is taking its show on the road to Hong Kong.
For a Monday before the Thanksgiving holiday, this is turning into an extremely busy day on the biotech beat. Two of the stories actually broke on Sunday: Celgene buying Pharmion for nearly $3 billion and Genentech announcing a breakthrough in brain cancer. Then, before the opening bell this morning Onyx Pharmaceuticals and Bayer won the expected Food and Drug Administration approval of their drug Nexavar for liver cancer.
Ailing British bank Northern Rock said Chief Executive Adam Applegarth had quit and it had streamlined its board as two suitors confirmed they had made proposals to buy or revive the bank and repay its loans.
Wells Fargo believes the nation's housing slump is the worst since the Great Depression and is far from over, Chief Executive John Stumpf said Thursday.