GO
Loading...

Business Events

More

  • Jan 15- Schlumberger Ltd, the world's No.1 oilfield services provider, said it will cut 9,000 jobs, or about 7 percent of its workforce, as it focuses on controlling costs amid plummeting oil prices. Schlumberger had said last month that it would take a $1 billion charge related to jobs cuts and the writedown of some seismic vessels. Schlumberger's customers- oil...

  • Jan 15- Target Corp's exit from Canada means Chief Executive Brian Cornell will have to rely solely on the saturated U.S. market for growth, the success of which could hinge on a shift towards smaller and urban-based stores. Target announced plans on Thursday to close all of its 133 stores in Canada and put the local business in bankruptcy. "They could easily open in...

  • Schlumberger to cut 9,000 jobs on oil-price plunge Thursday, 15 Jan 2015 | 5:39 PM ET

    Schlumberger Ltd, the world's No.1 oilfield services provider, said it will cut 9,000 jobs, or about 7 percent of its workforce.

  • But in 2006, the Bentonville, Arkansas- based discounter, threw in the towel in Germany, announcing it would sell its 85 stores to Metro Group, a German retailer. BEST BUY: In January 2013, the consumer electronics chain said it would close 15 of its stores in Canada and cut about 5 percent of its workforce in the country as it tries to revamp its strategy there.

  • WILMINGTON, Delaware/ CHICAGO Jan 15- The operating unit of Caesars Entertainment Corp, the largest U.S. casino company, filed for Chapter 11 bankruptcy on Thursday in Chicago to cut $10 billion of debt, but a Delaware judge intervened to halt the case before it got started. The bankruptcy was filed overnight by Caesars Entertainment Operating Company Inc and 179...

  • US stock indexes sink in midday trading; big banks fall Thursday, 15 Jan 2015 | 11:59 AM ET

    NEW YORK— Stocks are falling in midday trading following disappointing results from Bank of America, Citigroup and other companies. Radio Shack plunged 24 percent Thursday following a report that the struggling electronics retailer could file for bankruptcy. Target rose 2 percent after the company said it would close its stores in Canada.

  • Jan 15- The operating unit of Caesars Entertainment Corp, the largest U.S. casino company, filed for Chapter 11 bankruptcy on Thursday to implement its plan to cut $10 billion of debt, but faced an immediate challenge over where the case should proceed. The bankruptcy protection was filed by Caesars Entertainment Operating Company Inc and scores of affiliates...

  • LISBON, Jan 15- The future buyer or buyers of Portugal's flag carrier TAP will be barred from laying off workers en masse as long as the state remains a shareholder, the government said on Thursday. At a cabinet meeting on Thursday, the government approved a prospectus with conditions for TAP privatisation, which also include preserving TAP's status as the...

  • Bombardier cutting 1,000 jobs in Mexico, Kansas Thursday, 15 Jan 2015 | 9:09 AM ET

    MONTREAL— Bombardier says it's going to cut about 1,000 employees from its Learjet business in 2015, affecting sites in Mexico and the United States. The Montreal- based company said Thursday the cuts are due to weak demand for the Learjet 85 business jet. Bombardier says its operations in Wichita, Kansas, and Queretaro, Mexico, remain important to the company for...

  • NEW YORK— Citigroup said Thursday that its fourth-quarter profit dropped 86 percent after incurring large legal and restructuring charges. Money was also set aside to cover costs associated with reducing the Citi's headcount and cutting its real-estate holdings. Like JPMorgan Chase and Bank of America, Citi also reported a drop in quarterly fixed-income...

  • LONDON, Jan 15- Oil majors BP and ConocoPhillips will cut over 500 jobs in the North Sea following similar moves by rivals to reduce costs in one of the world's most expensive exploration areas as oil prices tumble. BP employs 4,000 people in the North Sea and another 11,000 across the UK. Fellow North Sea oil producer ConocoPhillips is cutting 230 jobs in Britain,...

  • TORONTO, Jan 15- Bombardier Inc said on Thursday that it had suspended its Learjet 85 aircraft program and was laying off about 1,000 employees due to weak demand for the business jet. Bombardier said the pause would result in a pretax charge of about $1.4 billion for the fourth quarter, mainly for the impairment of the Learjet 85 development costs.

  • UPDATE 1-BP to cut North Sea jobs as oil price plummets Thursday, 15 Jan 2015 | 4:59 AM ET

    LONDON, Jan 15- BP will cut hundreds of jobs in the North Sea to reduce costs in one of the world's most expensive exploration areas as oil prices fall. The BBC quoted sources as saying staff cuts would be announced later on Thursday in the Scottish city of Aberdeen. Fellow North Sea oil producer ConocoPhillips is also cutting 230 jobs in Britain, with its UK...

  • Caesars Entertainment's unit files for bankruptcy Thursday, 15 Jan 2015 | 4:26 AM ET
    Caesars Entertainment Corp.'s Caesars Palace in Las Vegas.

    The operating unit of Caesars Entertainment Corp, the largest U.S. casino company, filed for Chapter 11 bankruptcy on Thursday.

  • Caesars Entertainment says its main business unit has filed for bankruptcy protection with the support of most of its creditors. Caesars says in a statement Thursday that its casinos will continue to operate and it expects to get court approval to continuing paying its suppliers. Caesars has struggled after missing out on the casino boom in Asia.

  • LAS VEGAS— A cash-strapped division of casino giant Caesars Entertainment Corp. filed for bankruptcy protection Thursday in Chicago, hoping the court agrees to its plan to get out from under $18.4 billion in debt. The bankruptcy filing doesn't apply to parent company Caesars Entertainment Corp. and affiliated companies Caesars Growth Partners and...

  • LAS VEGAS— Caesars unit says it filed Chapter 11 bankruptcy in bid to trim its $18.4 billion debt burden.

  • Jan 15- The operating unit of Caesars Entertainment Corp, the largest U.S. casino company, filed for Chapter 11 bankruptcy on Thursday to implement its plan to cut $10 billion of debt. The bankruptcy protection was filed by Caesars Entertainment Operating Company Inc and several affiliates in the U.S. Bankruptcy Court for the Northern District of Illinois.

  • Jan 15- The operating unit of Caesars Entertainment Corp, the largest U.S. casino company, filed for Chapter 11 bankruptcy on Thursday to implement its plan to cut $10 billion of debt.

  • Markets split on endgame for Caesars' looming bankruptcy Wednesday, 14 Jan 2015 | 7:17 PM ET

    Jan 14- On the eve of Caesars Entertainment Corp's $10 billion debt-cutting bankruptcy, markets are reflecting two competing views of how the casino company's high-stakes plan will play out. "The fact there is equity value in Caesars, that equity value describes a really optimistic view of how this will play out," said Chris Snow, an analyst with CreditSights.