GO
Loading...

Business Events

More

  • DETROIT, April 23- Ford Motor Co said on Thursday it will lay off about 700 workers at a Detroit- area plant making compact and compact hybrid cars, responding to a dip in demand for such vehicles amid lower gasoline prices. Michigan Assembly Plant in Wayne, Michigan is cutting a shift and will run on two shifts beginning June 22, said Ford spokeswoman Kristina...

  • NEW YORK, April 23- Goldman Sachs Group Inc's Asset Management plans to acquire the Pacific Global Advisors solutions business from Pacific Life Insurance Co, the company said on Thursday. The business provides investment and risk management services to institutional investors and has assets under supervision of more than $18 billion.

  • WASHINGTON— The number of Americans seeking unemployment benefits was little changed last week, evidence that employers are cutting few jobs. Weekly applications for jobless aid ticked up 1,000 to a seasonally adjusted 295,000, the Labor Department said Thursday. "Seven straight sub-300K reading signals strong payrolls," Ian Shepherdson, chief economist...

  • Authentic Brands adds Jones New York to portfolio Thursday, 23 Apr 2015 | 7:34 AM ET

    Authentic Brands Group says it will add Jones New York to its portfolio of women's fashion brands. Jones New York has been closing stores and shrinking its business. Authentic Brands says Jones New York brings in nearly $1 billion in retail sales across department stores, and said the combination will push its portfolio to more than $4.5 billion in sales.

  • FRANKFURT, April 23- German ATM maker Wincor Nixdorf will cut 12 percent of its workforce and spin off its cashless payments business as part of a restructuring announced on Thursday. Wincor had warned this month that it would miss its sales and operating profit guidance for the year, citing deteriorating business in Russia and China, sluggish recovery in...

  • FRANKFURT, Germany— Swiss-based pharmaceutical company Novartis reported a large jump in first-quarter net profit Thursday as it recorded one-time gains from deals with other drug companies. Novartis sold its animal health business to Lilly. It also bought cancer drugs from GSK and sold its non-flu vaccines business, while Novartis and GSK combined their...

  • SEOUL, April 23- Samsung Electronics Co Ltd is set to spend at least another 10 trillion won to boost capacity at a new South Korean chip plant, a 64 percent increase over announced investment plans, domestic online news service MoneyToday reported. The plans for the new plant, which will be located in Pyeongtaek south of Seoul, has led to some worries about the...

  • SEOUL, April 23- Samsung Electronics Co Ltd plans to invest at least another 10 trillion won to boost capacity at a new South Korean chip plant, news service MoneyToday reported on Thursday without citing sources. Samsung has already announced a 15.6 trillion won investment to build the plant in Pyeongtaek south of Seoul, its biggest commitment to a single...

  • April 22- Generic drugmaker Teva Pharmaceutical Industries Ltd said it could "promptly" divest some operations to obtain regulatory clearance for its proposed $40 billion takeover of smaller rival Mylan NV. Mylan, which has said a merger with Teva would be bad fit, plans to make a new offer for Perrigo Co Plc in the near term, CNBC reported on Wednesday.

  • Job fair a hope for laid-off Atlantic City casino workers Wednesday, 22 Apr 2015 | 12:37 PM ET

    ATLANTIC CITY, N.J.— There were only about 100 jobs available, and most of them will last for only three months. But that did not discourage a large crowd of applicants looking for work Wednesday at The Chelsea, a boutique non-casino hotel in Atlantic City. Among them was Ronald Roberts, who lost his job as a cook when the Showboat casino shut down last August.

  • April 22- Teva Pharmaceutical Industries Ltd said on Wednesday it could "promptly" divest some operations if necessary to obtain regulatory clearance for its proposed takeover of smaller rival Mylan NV. Meanwhile, Canonsburg, Pennsylvania- based Mylan is pursuing its own $29 billion unsolicited bid for Perrigo Co Plc, which the maker of over-the-counter...

  • Employers cut jobs in 31 US states as growth slows Tuesday, 21 Apr 2015 | 10:24 AM ET

    The Labor Department said Tuesday that unemployment rates rose or were unchanged in 27 states and fell in 23 states. The biggest job cuts occurred in states with large oil and gas drilling, led by Texas, which lost 25,400 jobs, and followed by Oklahoma, which cut 12,900. Pennsylvania lost 12,700, the third largest loss. Pennsylvania has benefited in recent years...

  • Baker Hughes reports quarterly loss on $772 mln charge Tuesday, 21 Apr 2015 | 8:17 AM ET

    April 21- Oilfield services provider Baker Hughes Inc, which is in the process of being acquired by Halliburton Co for $35 billion, posted a quarterly loss compared with a year-earlier profit as it recorded a $772 million charge related to restructuring and other items. Baker Hughes said it would cut 10,500 jobs, or 17 percent of its global workforce, up from 7,000...

  • April 20- A union working on behalf of Wal-Mart employees laid off in the sudden temporary closure of five stores filed a claim on Monday to the National Labor Relations Board accusing the retailer of retaliating against workers for organizing activity and seeking to get them rehired. Wal-Mart Stores, which announced last week that it was temporarily closing...

  • Racy lingerie retailer Frederick's of Hollywood is seeking bankruptcy protection in federal court after closing all of its stores and switching to an online-only business, which it intends to sell to the highest bidder. Frederick's of Hollywood Group Inc. says in bankruptcy court papers that it has not had a profitable fiscal year since 2007. Its balance...

  • Wells Fargo in talks to buy GE lending biz: Source Monday, 20 Apr 2015 | 1:11 PM ET
    GE in talks to sell lending, leasing portfolio to Wells Fargo.

    GE is in early-stage talks with Wells Fargo about selling its entire $74 billion US commercial lending and leasing portfolio, according to a source.

  • Judge says new Revel owner can cancel tenant leases Monday, 20 Apr 2015 | 1:02 PM ET

    ATLANTIC CITY, N.J.— The new owner of Atlantic City's Revel casino can terminate the leases of former business tenants there, a judge ruled Monday. The decision by U.S. Bankruptcy Court Judge Gloria Burns frees Glenn Straub to either renegotiate new leases with the former tenants, including restaurants and nightclubs, or seek new firms to rent space once the...

  • April 20- General Electric Co is in early-stage talks with Wells Fargo& Co about selling its entire $74 billion U.S. commercial lending and leasing portfolio to the bank, according to a source familiar with the situation. GE and Wells Fargo declined to comment. The talks with Wells Fargo underscored GE's urgency in looking to dismantle its GE Capital business and...

  • NEW YORK— A group made up of Wal-Mart workers is asking labor regulators to go to court to force the discounter to rehire all 2,200 employees affected by the abrupt temporary closing of five stores a week ago. Wal-Mart says it closed the stores to fix plumbing issues. "This is a new low, even for Wal-Mart," Venanzi Luna, an eight-year Wal-Mart worker and member of OUR...

  • NICOSIA, Cyprus— Lawmakers in Cyprus on Saturday passed key insolvency laws designed to open the taps for more international bailout cash. The vote makes it possible to operate foreclosure laws that international creditors have demanded as a condition for extending more loans to Cyprus. The International Monetary Fund has been withholding 88 million euros...