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Business Events Corporate Restructuring


  • Stocks Retreat as Banks Turn Mixed Friday, 13 Mar 2009 | 11:32 AM ET

    Stocks opened slightly higher Friday amid some much-needed good news from banks.

  • Futures Indicate Rally Will Continue Friday, 13 Mar 2009 | 8:41 AM ET

    Futures pointed to a fourth straight session of gains Friday amid some much-needed good news from banks.

  • Quiet Layoffs Sting Workers Without Notice Friday, 6 Mar 2009 | 8:07 AM ET

    With the economy weakening, chief executives want Wall Street to see them as tough cost-cutters who are not afraid to lay off workers. But plenty of job cuts are not trumpeted in news releases, the New York Times reported.

  • Sony Shares Fall, Stringer Takes Control Sunday, 1 Mar 2009 | 8:10 PM ET
    Sony Building

    Shares of Sony closed half a percent lower Monday after the electronics maker said CEO Howard Stringer would double up as president and directly oversee the electronics division at the centre of its problems.

  • Sony Centers Power in Incoming President Stringer Friday, 27 Feb 2009 | 9:06 AM ET
    Sony Building

    Sony sent a message of change Friday in centering power in Chief Executive Howard Stringer, who will also become president and gain greater say over its core electronics business as Japan's iconic electronics maker tackles a painful global slump.

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    Turnover at the top, presents an unique opportunity and set of challenges for a new leader to deal with, and managing the transition is the first step to ensuring success in any executive role. Fortunately, there's one fairly high-profile transition going on right under our noses, with the new guy and his team set to finally take the reins on Tuesday.

  • Pros Drill Down on Citi, BofA Results Friday, 16 Jan 2009 | 8:09 AM ET

    Bank of America and Citigroup both reported worse-than-expected losses for the fourth quarters Friday, including billions of dollars of writedowns from exposure to debt and real-estate markets. Experts give CNBC their reactions to the results.

  • Pink Slip Flamingos? Zoos Hit by Downturn Tuesday, 13 Jan 2009 | 5:33 AM ET

    Even porcupines could get pink slips in the slumping economy as states consider cutting or eliminating funding that supports zoos, aquariums and botanical gardens.

  • Stop Trading: Citigroup, Wal-Mart, Pepsico and XOM Friday, 21 Nov 2008 | 3:54 PM ET

    In the last 'Stop Trading' segment of yet another dramatic week in U.S. and global markets, Cramer talks to Erin Burnett (together in the same room for the first time in quite a while). After trading some banter about her recent sojourn in Russia, they bring up Citigroup, Wal-Mart and several other stocks on Cramer's mind.

  • GM, Ford Losses Deepen; Industry Outlook in Doubt Friday, 7 Nov 2008 | 1:49 PM ET
    Car dealership in Miami

    GM and Ford reported far deeper-than-expected quarterly losses as an extended slump in car sales raised questions about the future of the US auto industry

  • Australia's Centro Posts $1.8 billion Year Loss Thursday, 28 Aug 2008 | 8:38 PM ET

    Centro Properties Group, an Australian victim of the subprime crisis that is struggling to restructure, reported a $1.8 billion full-year loss on Friday, including more than A$1 billion in property revaluations.

  • Australia's NAB Names New CEO After Loan Losses Wednesday, 30 Jul 2008 | 7:46 PM ET

    Australia's top lender, National Australia Bank, announced on Thursday the impending exit of its chief executive, a week after he shocked investors with another $784 million in loan losses.

  • No G'Day Latte, Starbucks Cuts 2/3 of Aussie Stores Tuesday, 29 Jul 2008 | 5:23 AM ET

    Starbucks will close more than two-thirds of its 84 stores in Australia by the end of the week under a restructuring plan announced Tuesday that will put almost 700 people out of work.

  • Microsoft's Johnson Leaves to Head Juniper Wednesday, 23 Jul 2008 | 11:25 PM ET
    Microsoft Sign

    Microsoft said Kevin Johnson, the executive in charge of its Windows and Web operations and an instrumental player in the company's failed $47.5 billion bid to buy Yahoo, is leaving the company.

  • Newell to Shed Assets, Cuts 2008 Profit Forecast Tuesday, 15 Jul 2008 | 11:12 AM ET

    Consumer products maker Newell Rubbermaid said on Tuesday that it would exit some product lines and raise prices to offset rapidly rising resin costs and protect profit margins.

  • Wachovia Names Robert Steel as Chief Wednesday, 9 Jul 2008 | 7:43 PM ET
    A Wachovia branch bank is shown in a Charlotte, N.C. file photo from July 20, 2006. After a rough year, the banking industry appears headed for another in 2007. (AP Photo/Chuck Burton, File)

    Wachovia Corp, the fourth-largest U.S. bank, named Treasury Undersecretary Robert Steel chief executive on Wednesday, and said mortgage and legal problems will result in a $2.6 billion to $2.8 billion second- quarter loss, much larger than many analysts expected.

  • Siemens to Cut 16,750 Jobs Amid Economic Downturn Tuesday, 8 Jul 2008 | 11:46 AM ET

    German industrial conglomerate Siemens  plans to cut around 4 percent of its workforce as part of an overhaul and as a result of the global economic downturn, Siemens said on Tuesday.

  • AIG Shareholders Demand Board Changes Wednesday, 11 Jun 2008 | 10:09 PM ET

    Shareholders of American International Group are demanding changes to the management and board of the world's largest insurer, which has been struggling with the fallout of the subprime mortgage mess.

  • Rating Agencies to Get Tougher Industry Code Wednesday, 28 May 2008 | 8:19 AM ET

    Credit rating agencies will be banned from helping to design products they also grade as part of a tougher industry code of conduct to tackle issues raised by the U.S. subprime mortgage crisis such as conflicts of interest.

  • AIG's Chairman: Board Stands Behind CEO Sullivan Wednesday, 14 May 2008 | 2:00 PM ET

    American International Group Chairman Robert Willumstad said Wednesday the global insurance giant's directors stand behind Chief Executive Martin Sullivan, fending off concerns raised by investors frustrated by two quarters of record losses.