Business Events Corporate Restructuring

  • 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.

  • 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

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

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

  • 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.

  • 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.

  • nrock.jpg

    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.

  • 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%. 

  • 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.

  • 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.

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

  • 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'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 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'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.

  • IAC

    Liberty Media's John Malone, a longtime business partner of Barry Diller, took action Monday to oust Diller from the board of the IAC/InterActiveCorp Internet conglomerate.

  • Sprint Nextel said Thursday Chief Financial Officer Paul Saleh and two other top executives would leave the company in a new management shake-up as the No. 3 U.S. mobile service grapples with subscriber declines.

  • Retailer Sears Holdings, looking to turn around its business after recent profit declines, detailed a new structure that separates its business units and simplifies the way they are managed, and its shares shot up as much as 19 percent.

  • Japanese electronics firm Fujitsu said on Monday it would put its struggling semiconductor operations into a new unit, in a move that could smooth the way for partnerships with other chipmakers.