NEW YORK, Feb 11- Blackstone Group has launched a fund to finance the troubled offshore drilling and services sector, the U.S. private equity firm said on Thursday, anticipating a buyer's market as low oil prices set the stage for restructuring and consolidation. Blackstone's new entity, called Clarion Energy Partners, will be led by former executives of Pride...» Read More
The charitable trust that controls Milton Hershey's fortune and The Hershey Co., the U.S. chocolate company he founded, said Tuesday it is not satisfied with the company's lackluster performance, and is working to improve it.
US Treasury debt prices were steady early Tuesday as investors looked ahead to the release of minutes from the Federal Reserve's policy meeting last month when the central bank cut benchmark interest rates.
The head of European aerospace group EADS said in remarks published on Tuesday he would propose scrapping the company's management stock option system amid an ongoing insider trading investigation.
The U.S. Food and Drug Administration is preparing to warn physicians about hazards with drugs that use ultrasound imaging machines to enhance the diagnosis of heart problems, the Wall Street Journal reported on its Web site on Sunday.
Momentum has been building toward the United Auto Workers accepting a tentative contract with General Motors, though members at some key locals backed it by narrow margins in results released Thursday.
General Electric said Thursday it will close a number of lighting plants in Brazil and the U.S., as part of a plan to restructure its consumer and industrial division, potentially cutting more than 1,400 jobs in the process.
Alcoa, the biggest U.S. aluminum producer, said Thursday it will sell its packaging and consumer and automotive castings businesses, and restructure its electrical and electronic solutions business.
Kraft Foods plans to turn Oscar Mayer meats into a separate business unit as part of a change the largest North American food company hopes will make all its businesses more accountable, a spokeswoman said Thursday.
The world's largest brokerage Merrill Lynch, which is expected to announce third-quarter losses in fixed income, said that global head of fixed income, currencies & commodities, has left the firm.
Spanish funds within a group looking to buy Spanish carrier Iberia will control both the board and hold the majority of its capital if successful, an industry source told Reuters on Thursday.
Yahoo, is working with auction leader eBay and its PayPal payments unit to block fake e-mails to users purporting to be from eBay and PayPal, hoping to spur on an industry that has been slow to fight the scourge of so-called phishing attacks.
Bain Capital Partners said it will submit for a national security review its proposed $2.2 billion buyout of networking equipment maker 3Com Corp.
H&R Block the largest U.S. tax preparer, said on Wednesday bank lines at its Option One Mortgage Corp lending unit were terminated or reduced, as the subprime mortgage company reduces it lending volume.
Merrill Lynch said on Wednesday that David Sobotka replaced Osman Semerci as global head of fixed income, currencies & commodities.
Bear Stearns said on Wednesday it was cutting 310 jobs in its mortgage origination businesses as part of a reorganization of its mortgage operations.
US Airways Group said on Wednesday it will cut flights from its unprofitable Pittsburgh hub, a move that will cut about 450 airlines jobs in the city.
General Electric said that, for the first time, it would earn more this year from its operations outside the United States than from in the U.S., mainly because of strong revenue growth in emerging markets.
The board of directors of Alcatel-Lucent has given chief executive Patricia Russo one month to produce an emergency restructuring plan, the Financial Times reported on Friday.
Investor Guy Wyser-Pratte has bought a 1% stake in TUI and along with other critics wants to oust Michael Frenzel, the chief executive of the German shipping and tourism group, a paper reported.
Four medical device implant makers will pay about $311 million and agree to federal monitoring and other reforms to settle a government probe into improper consulting contracts with surgeons, federal prosecutors said Thursday.