Business Events Corporate Restructuring


  • Rentokil Hires ICI Team in Fight for Recovery Thursday, 20 Mar 2008 | 6:00 AM ET

    Pest control to parcel delivery firm Rentokil Initial is parachuting in the management team that turned around chemicals group ICI in a bid to recover from two profit warnings that have hammered its shares. 

  • Siemens Issues Profit Warning, Shares Tumble Monday, 17 Mar 2008 | 4:46 AM ET

    Engineering group Siemens issued a profit warning after a review of major projects at three operations, sending its shares down as much as 7 percent in pre-market trading on Monday.

  • Congress Rips Lavish Pay of Subprime CEOs Friday, 7 Mar 2008 | 2:03 PM ET

    The stunning pay packages of executives at financial groups hammered by the U.S. mortgage crisis came in for stinging criticism from Democratic lawmakers and investor advocates at a congressional hearing Friday.

  • T. Italia Shares Hit 10-Year Low as Debt Fears Grow Friday, 7 Mar 2008 | 12:11 PM ET

    Telecom Italia shares slid to a 10-year low on Friday as a grim sales outlook and plans to expand overseas in a much-heralded new strategy stoked fears over its costly debt.

  • Countrywide: Mortgage Controls Have Gone Too Far Friday, 7 Mar 2008 | 10:42 AM ET

    Countrywide Financial CEO Angelo Mozilo told a congressional panel Friday that he is "extremely concerned" that recent tightening of mortgage underwriting criteria has gone too far.

  • Banks CEOs Face Grilling over Compensation Friday, 7 Mar 2008 | 7:25 AM ET

    The heads of three companies implicated in the mortgage crisis have been asked to explain how they collectively received hundreds of millions of dollars in compensation while their companies were losing money.

  • E*Trade Chairman Layton to Add Role as CEO Monday, 3 Mar 2008 | 12:47 AM ET
    E Trade

    E*Trade plans to give Chairman Donald Layton the additional role of chief executive officer, The Wall Street Journal reported on Sunday.

  • MBIA CEO: Bond Insurer Is Done Raising Capital Tuesday, 26 Feb 2008 | 4:46 PM ET

    MBIA, the world's biggest bond insurer, is finished raising significant dilutive capital, CEO Jay Brown told CNBC.

  • Siemens to Cut 6,800 Jobs at SEN Unit Tuesday, 26 Feb 2008 | 6:25 AM ET

    Siemens will cut 6,800 jobs at its corporate telecoms unit -- two-fifths of the unit's workforce -- to reshape the business into a software provider as it seeks to divest the division, it said on Tuesday.

  • MBIA

    MBIA, the world's largest bond insurer fighting to hang on to its top-notch rating, said Monday it is eliminating its quarterly dividend in a move expected to save the company $174 million a year.

  • NYT Shareholders Group Boosts Stake to 19% Monday, 25 Feb 2008 | 6:39 PM ET

    A dissident shareholders group of the New York Times raised its stake to 19.03 percent, according to a U.S. regulatory filing, nearing the equity value its controlling family holds.

  • Government Buys All Northern Rock Shares Friday, 22 Feb 2008 | 1:43 PM ET

    The UK Treasury announced on Friday it bought all the shares in troubled bank Northern Rock, including its preference shares, and that an order setting up compensation for shareholders will be sent to parliament shortly.

  • Harbinger Raises New York Times Stake to 15.6% Thursday, 21 Feb 2008 | 6:46 PM ET

    An investment firm seeking board seats at New York Times disclosed Thursday that it has increased its stake in the company again, to 15.6%. 

  • Uncertainty Lingers over IKB Rescue, Shares Slump Monday, 18 Feb 2008 | 12:23 PM ET

    Investors in subprime-stricken lender IKB took a further blow on Monday as details of government plans to rescue and sell the bank stoked uncertainty and wiped a further quarter off the shares.

  • Owners Rescue WestLB, Slash Jobs ahead of Sale Friday, 8 Feb 2008 | 1:39 PM ET

    WestLB's owners stumped up a further 3 billion euros ($4.4 billion) to rescue the state-sector lender which said it would slash up to 1,500 jobs in the next two years as it prepares to be sold.

  • Alcatel-Lucent Shares Drop on '08 Outlook Friday, 8 Feb 2008 | 1:35 PM ET

    Shares in Alcatel-Lucent dropped in U.S. trading, after the company scrapped its 2007 dividend and predicted a loss for the current quarter.

  • MFS Sells Stella Stake, Is Able to Repay Debt Sunday, 3 Feb 2008 | 7:31 PM ET

    Australian financial services firm MFS said on Monday it will sell a 65 percent stake in its Stella tourism business to private equity firm CVC Asia Pacific, raising enough cash to meet its short-term debt obligations.

  • Motorola Shares Up as It Mulls Cell Phone Split-Off Friday, 1 Feb 2008 | 5:13 PM ET
    Motorola's Razr V3 cell phone.

    Shares of Motorola rose 10 percent Friday after the company said it was considering splitting off its mobile phone division, the company's biggest unit.

  • Yahoo's Semel Leaving Board, Bostock New Chair Friday, 1 Feb 2008 | 6:11 AM ET
    Yahoo!'s Chairman and Chief Executive Officer Terry Semel.

    Yahoo nonexecutive Chairman Terry Semel is leaving the board, the Internet company said Thursday, announcing the end of its formal ties with the ex-CEO credited with reviving the company and then losing touch.

  • Motorola May Realign to Boost Cell Phone Business Thursday, 31 Jan 2008 | 5:12 PM ET
    Motorola's Razr V3 cell phone.

    Motorola said on Thursday it is considering separating its loss-making mobile phone unit, in an apparent concession to demands from activist investor Carl Icahn, sending its shares up 12.7 percent.