Oct 8- A U.S. bankruptcy court approved Patriot Coal's restructuring plan at a hearing on Thursday, including the sale of a major part of its mines and coal reserves to privately held Blackhawk Mining of Lexington, Kentucky. Patriot Coal, based in Scott Depot, West Virginia, filed for bankruptcy in May, its second in three years, listing assets and liabilities of more...» Read More
Citigroup, the largest U.S. bank, on Tuesday overhauled the structure of its investment bank, combining equity and debt capital markets activities.
While Citigroup searches for a new CEO, there is growing speculation that the troubled financial services conglomerate may finally be broken up.
Airbus parent EADS acknowledged on Thursday its controversial restructuring plans were inadequate to cope with the dollar's "unbearable" slide, as delays in a major military project pushed it to a deeper quarterly loss.
Mutual funds giant Fidelity Investments is expected to begin layoffs, the Wall Street Journal reported on Thursday, citing analysts and people close to the firm.
Alcatel-Lucent said it would cut another 4,000 jobs by 2009 and trimmed full-year revenue growth expectations yet again after seeing fresh signs of a slowdown particularly in North America.
Chiquita Brands International said Monday it will cut 160 management jobs worldwide, close facilities and leave businesses as part of a plan to save $60 million to $80 million a year beginning next year.
Pfizer said on Thursday that David Shedlarz would retire as Vice Chairman by the end of the year, after three decades with the company that turned difficult in recent years.
Bank of America on Thursday said it will stop offering home mortgages through brokers by the end of the year, resulting in a loss of 700 jobs, so that it may focus on lending directly to consumers.
Bank of America on Wednesday said it plans to eliminate 3,000 jobs, and that the head of corporate and investment banking will depart after a dismal quarter at that unit led to a 32 percent drop in overall profit.
Boston Scientific said on Wednesday it would cut about 2,300 jobs as part of its effort to reduce operating expenses.
ClearBridge Advisors, the largest institutional shareholder in Cablevision Systems, plans to vote against the founding Dolan family's effort to take the cable television company private, the Wall Street Journal reported on Wednesday, citing sources.
Countrywide Financial, the largest U.S. mortgage lender, said Tuesday it expects to incur a $125 million to $150 million pretax restructuring charge in connection with its plan to eliminate 10,000 to 12,000 jobs to cope with the U.S. housing slump.
Boeing named Pat Shanahan as vice president and general manager of the 787 program, succeeding Mike Bair, who will become vice president of business strategy and marketing for commercial airplanes, both effective immediately.
Medical device maker Boston Scientific is preparing to slash thousands of jobs to counter slumping sales, according to a media report Tuesday.
E.W. Scripps, a television broadcaster and newspaper publisher, said Tuesday it plans to split into two publicly traded companies.
Eight U.S. lawmakers called on the Bush administration on Monday to block a proposed buyout of Massachusetts-based technology group 3Com saying a Chinese company's role in the $2.2billion transaction "threatens the national security of the United States."
Time Warner's Internet unit AOL will eliminate 2,000 jobs as part of an ongoing restructuring to better focus on boosting online advertising, according to a memo obtained Monday by Reuters.
Citigroup CEO Charles Prince will get more time to help turn around the company's fortunes, according to CNBC On Air Editor Charles Gasparino.
Dow Chemical, the largest U.S. chemicals maker, said on Friday it has postponed a meeting with institutional investors that was scheduled for early next month.
Citigroup said it is combining its investment banking and alternative investments units into one division led by a former Morgan Stanley executive.