Ace Hardware discovered an approximately $154 million shortfall on its books while preparing to convert from retailer-owned cooperative to for-profit corporation and likely will have to restate its financial results for the last five years, President and CEO Ray Griffith said Wednesday.
If you were looking for a sign of the times when it comes to the mood of the marketplace, my location today may be a fair indicator. It is the first day of Fashion Week and rather than being under the tents in Bryant Park, I am at the Goldman Sachs investor conference.
Banks need to be more transparent about the distribution of their risk across the financial system in order to restore confidence among investors, Germany's top banker said on Wednesday.
Toymaker Mattel on Tuesday announced a third recall of Chinese-made toys, saying it would take back more than 800,000 units globally that contain "impermissible" levels of lead.
Many companies allow their chief executives to use the corporate jet for personal travel, according to a new study released Tuesday based on pay disclosures in new corporate proxy statements.
Carlsberg on Monday named Joergen Buhl Rasmussen as chief executive with effect from Oct. 1.
Publisher McGraw-Hill Cos is replacing the president of Standard & Poor's, the company's financial services division, effective immediately, amid questions about the role of credit-rating agencies in the subprime mortgage crisis.
Publisher McGraw-Hill is replacing the president of Standard & Poor's, the company's financial services division, effective immediately, amid questions about the role of credit-rating agencies in the subprime mortgage crisis.
Hovnanian Enterprises Chief Executive Ara Hovnanian said Thursday the risk of a recession is heightened and called for a rate cut by the Federal Reserve.
Gap Inc. Chief Financial Officer Byron Pollitt is leaving the slumping retailer Sept. 14 to take the same job at credit card issuer Visa, the companies said Wednesday.
NBC Universal (owned by GE, which is parent company of CNBC) and News Corp are collaborating on a online video site to compete with YouTube, and today we learned its name: Hulu. (Go to hulu.com) to check out some of the video the on-demand service will be providing--you'll see that Fox's "24" and NBC's "My Name is Earl") are prominently featured.
Helmsley left her beloved white Maltese, named Trouble, a $12 million trust fund, according to her will, which was made public Tuesday in surrogate court.
Google said after U.S. markets closed Tuesday that George Reyes has announced plans to retire as chief financial officer by the end of the year and that the company will begin a search for a replacement.
Barrick Gold's prospects are stronger if it remains on its own, and the world's biggest gold miner has no interest in acquiring U.S. rival Newmont Mining, said Barrick Chief Executive Officer Greg Wilkins.
Car dealership group AutoNation Chief Executive Mike Jackson said Tuesday the U.S. economy is in danger of slipping into a recession unless the Federal Reserve moves aggressively to cut interest rates.
Procter & Gamble said Tuesday that 70 percent of its top executive's $27.7 million in compensation in the latest fiscal year came in stock, restricted stock or stock options.
Xoma Ltd., the subject of a prominent, front page New York Times Sunday Business section article earlier this year headlined, "It's Alive! One of Biotech's Zombies", is leaving the Zombies behind. The shares of the small cap are up more than 20% on heavy volume. The Times piece described how the 26-year-old company had yet to turn a profit (the overwhelming majority of biotechs don't make money),
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Warren Buffett's company has bought 10.1 million shares of Burlington Northern Santa Fe since Thursday, increasing the legendary investor's stake in the nation's No. 2 railroad to nearly 14.8%.
The state of Ohio has filed an anti-trust lawsuit accusing Marsh & McLennan, AIG and three other insurers and their subsidiaries of price fixing and other anti-competitive behavior, Attorney General Marc Dann said on Monday.