Business Events


  • RIYADH/ KHOBAR, Saudi Arabia, Feb 27- Saudi Arabia's government plans to sell a 15 percent stake in National Commercial Bank, the country's largest lender by assets, in an initial public offer that would be the kingdom's first bank IPO since 2008..

  • AMSTERDAM, Feb 27- Dutch lender Rabobank said net profit dipped 2 percent last year as a $1 billion fine for rigging benchmark interest rates and hefty real estate impairments were only partly offset by the sale of its fund management business.

  • Feb 26- General Electric Co said it would pay $1.7 billion to Japan's Shinsei Bank Ltd to end exposure to interest repayment claims related to the sale of its Japanese consumer loan business to the bank in 2008.. GE said on Wednesday the deal would reduce fourth-quarter and 2013 earnings by $1 billion and earnings per share by 9 cents.

  • CORRECTED-Weatherford to hive off non-core businesses Tuesday, 25 Feb 2014 | 7:13 PM ET

    Feb 25- Oilfield services provider Weatherford International Ltd said it would divest five businesses, exit another as it struggles with weak demand in North America, and has identified 6,192 positions for job cuts as part of a previously announced plan.

  • Weatherford to hive off non-core businesses, cut jobs Tuesday, 25 Feb 2014 | 6:10 PM ET

    Feb 25- Oilfield services provider Weatherford International Ltd said it would divest five businesses, exit another and lay off 6192 employees as it struggles with weak demand in North America. The company, which is being probed for violations of the United Nations oil-for-food program in Iraq, on Tuesday also reported a wider quarterly net loss.

  • Feb 24- Retirees, unions and others opposed to Detroit's financial restructuring plan will have a chance to argue their case at a trial starting in mid-June, according to an order on Monday by the judge overseeing the case. Detroit and its creditors have until Friday to file objections to U.S.

  • Feb 24- Debt-laden Chinese solar company LDK Solar Co Ltd said it filed an application for provisional liquidation in the Cayman Islands. LDK Solar, incorporated in the Cayman Islands, said it has made "considerable progress" in its discussions with key offshore creditors.

  • Comcast in $45 billion Time Warner Cable deal Thursday, 13 Feb 2014 | 8:17 AM ET
    Comcast Center headquarters in Philadelphia.

    Comcast Chairman and CEO Brian Roberts said he's confident the deal to acquire Time Warner Cable will be approved.

  • Bill Gates-backed energy firm declares bankruptcy Wednesday, 12 Feb 2014 | 11:41 AM ET

    Optim Energy, an electric company owned by a Bill Gates investment fund, filed for Chapter 11 bankruptcy after piling up losses in a depressed power market.

  • Time Inc begins job cuts, restructures company Tuesday, 4 Feb 2014 | 12:48 PM ET
    Joe Ripp, CEO of Time Inc.

    Time Inc is reorganizing itself and consolidating oversight as it prepares to spin off from its corporate parent Time Warner, according to a memo to staff.

  • FCC skeptical about Sprint, T-Mobile deal Tuesday, 4 Feb 2014 | 10:55 AM ET
    Tom Wheeler, chairman of the Federal Communications Commission (FCC).

    FCC's chairman his skepticism about a potential merger between Sprint Corp and T-Mobile US Inc in a meeting with Sprint.

  • Texas Instruments to cut 1,100 jobs Tuesday, 21 Jan 2014 | 5:25 PM ET

    Texas Instruments plans to cut 1,100 jobs worldwide as part of a corporate restructuring intended to help it save $130 million by the end of 2014.

  • Oracle to acquire Responsys in $1.5 billion deal Friday, 20 Dec 2013 | 10:08 AM ET
    Oracle CEO Larry Ellison.

    Oracle announced that it has entered into an agreement to acquire Responsys for $27 a share, or approximately $1.5 billion.

  • Loehmann's department store in the Chelsea neighborhood of New York.

    Loehmann's, the 92-year-old discount clothing chain, has filed for bankruptcy protection for a third time and said it is prepared to sell its assets to a group of liquidators.

  • Asia-Pacific beats Europe in M&A space Thursday, 12 Dec 2013 | 7:53 AM ET

    The Asia-Pacific region has overtaken Europe when it comes to mergers and acquisition, taking second place this year to North America.

  • Hedge fund takes stake in Men's Wearhouse Thursday, 7 Nov 2013 | 1:32 PM ET
    A Men's Wearhouse in New York

    Eminence Capital has taken a 9.8 percent stake in the clothier and will argue to solicit more bids, CNBC's David Faber reported.

  • Fairfax struggles to raise funds for BlackBerry bid Friday, 1 Nov 2013 | 6:05 PM ET

    Fairfax Financial is struggling to raise financing several large lenders turned down its requests, Reuters reported Friday.

  • Do emotions get in the way of M&A deals? Friday, 1 Nov 2013 | 9:29 AM ET

    A 'lack of emotional buy-in' and culture clashes are to blame for deals that fail to live up to their promise, a new report finds.

  • Lenovo looks to sink teeth into BlackBerry: Report Thursday, 17 Oct 2013 | 2:50 PM ET
    The BlackBerry logo sits on the screen of a BlackBerry smartphone.

    Lenovo, the world's largest PC maker, is 'actively looking' into bidding on BlackBerry, Dow Jones reported on Thursday, citing unnamed sources.

  • BlackBerry draws interest of more investors: Report Wednesday, 2 Oct 2013 | 1:49 PM ET

    Ailing smartphone maker BlackBerry has drawn interest of Cerberus, a private equity firm, according to reports Wednesday.