Sears Holdings, which has been posting losses since mid-2012, has been closing stores, cutting inventory and selling property and assets after nearly a decade of falling sales. Shareholders of Sears Holdings will have the right to buy one share of Sears Canada for each share held, at a price of C $10.60 per share. Sears Holdings shares rose 5 percent to $26.47 on the...» Read More
April 16- Bank of America Corp posted a first-quarter loss as the No. 2 U.S. bank recorded $6 billion in litigation expenses related to a settlement with the Federal Housing Finance Agency and other mortgage-related matters.
Shipbuilder Sainty Marine Corp Ltd on Tuesday became the latest listed firm to report that it had failed to receive principal and interest repayments on a 900 million yuan loan to a property developer. The same day, Qiaqia Food Co Ltd announced that it would launch a lawsuit against another food producer for failing to pay interest on a 40 million yuan loan.
April 15- Post-it notes maker 3 M Co said its board opposed a proposal by shareholder James McRitchie to allow investors holding enough shares to take a particular action through written consent without putting it to a vote.
The lawsuit, filed on Monday afternoon, sought civil damages, a public apology and data from water quality testing in the past year from Lanzhou Veolia Water Co., a local unit of French firm Veolia Environment, according to the Modern Jinbao newspaper, citing Wu Tianying, one of the Lanzhou residents who filed the suit.
April 14- Mark Karpeles, the founder of Mt. Gox lawyers cited a subpoena from the U.S. Department of Treasury's Financial Crimes Enforcement Network, which has closely monitored virtual currencies like bitcoin. The court papers also said a Japanese court had been informed of the issue and that a hearing was scheduled on Tuesday in Japan.
April 14- Japan's Fuji Heavy Industries Ltd plans to open a new plant as early as next year to make parts for Boeing Co's next-generation 777 X passenger jets, the Nikkei reported.
April 14- Oilfield services and drilling company Nabors Industries Ltd said it would separate the roles of chairman and chief executive after the tenure of CEO Anthony Petrello ends and limit severance payments for executives. Shareholders California State Teachers' Retirement System and Blue Harbour Group welcomed the steps.
April 14- Liquid natural gas supplier Stabilis Energy said on Monday it would buy most of the U.S. assets of Encana Natural Gas Inc, a unit of Canada's Encana Corp, for an undisclosed price.
April 14- Asset manager TIAA-CREF will buy rival Nuveen Investments for $6.25 billion including debt, the Wall Street Journal reported, quoting top executives from both companies. The transaction, set to be officially announced Monday, would create a firm with nearly $800 billion under management, the Journal reported.
April 14- LNG supplier Stabilis Energy said on Monday it would buy most of the U.S. assets of Encana Natural Gas Inc, a unit of Encana Corp..
April 13- Silicone and quartz producer Momentive Performance Materials Inc, owned by Apollo Global Management LLC, on Sunday filed for Chapter 11 bankruptcy protection as part of a "restructuring support agreement" with some of its creditors.
April 11- Women's clothing retailer Coldwater Creek Inc on Friday filed for Chapter 11 bankruptcy, the latest in a growing list of retailers to seek protection from creditors as consumers keep a lid on spending. Coldwater Creek last October announced plans to seek strategic alternatives, including a possible sale.
SAN FRANCISCO, April 10- Zynga Inc appointed former Best Buy executive David Lee its chief financial officer as Zynga continued reshuffling its ranks to try to return the "Farmville" creator to growth. Zynga has sought to revive its business by overhauling top management, trimming staff and introducing titles that can be played on smartphones and tablets.
SAN FRANCISCO, April 10- Zynga Inc has appointed former Best Buy executive David Lee its chief financial officer as Zynga continues reshuffling its ranks to try to return the "Farmville" creator to growth. Zynga has sought to revive its business by overhauling top management, trimming staff and introducing titles that can be played on smartphones and tablets.
April 10- Heavy equipment retailer Titan Machinery Inc said it would cut about 12 percent jobs in its construction unit and the company posted a 10 percent drop in quarterly revenue. Titan also estimated revenue of $1.95 billion to $2.15 billion for the year ending Jan. 31, 2015.
April 10- Farm equipment retailer Titan Machinery Inc reported a 10 percent drop in quarterly revenue and said it would reduce its workforce at its construction business by about 12 percent. Revenue fell to $708.6 million in the fourth quarter ended Jan. 31 from $784.5 million a year earlier.
April 10- Motorola Mobility has named Rick Osterloh as its chief operating officer, reporting to the Motorola Operating Board at Google Inc until its acquisition by Lenovo Group Ltd is completed. Lenovo agreed to buy Google's Motorola handset division for $2.91 billion in January, in what was China's largest-ever tech deal.
It will be weeks before results are in for India's national elections, but investors have already picked their favorite.
April 8- German carmaker BMW is planning a second North American factory to cater to the rising demand for its vehicles, Bloomberg reported on Tuesday.
RAMALLAH, West Bank, April 8- The Palestinian Authority said on Tuesday it plans to issue bonds to banks as part of a restructuring of its sizeable debts, in what will be the first sale of government bonds in the territory's 20- year history. Jihad Al Wazir, head of the Palestinian Monetary Authority, said around $200 million of debt would be converted to bonds.