Business Events


  • July 21- Allergan Inc, which is fighting off a hostile bid from Valeant Pharmaceuticals International Inc, on Monday announced 1,500 jobs cuts as part of a $475 million restructuring meant to boost profits over the next six years.

  • Detroit seeing upgrades ahead of bankruptcy trial Sunday, 20 Jul 2014 | 11:47 AM ET

    DETROIT— Detroit neighborhoods are being relit, its vacant homes are being sold off or torn down, its public transportation is cleaner and more often on schedule and the city has renegotiated some burdensome union contracts.

  • GE to invest $20M, open new plant in Puerto Rico Saturday, 19 Jul 2014 | 2:27 PM ET

    SAN JUAN, Puerto Rico— General Electric plans to open an estimated $20 million plant along Puerto Rico's north coast while closing two other plants in the U.S. territory. Puerto Rico's Industrial Development Company says construction will begin this year on the facility to produce molded case circuit breakers.

  • Forbes sells majority stake to group of investors Friday, 18 Jul 2014 | 3:25 PM ET

    NEW YORK— Forbes said Friday it will sell a majority stake in the family owned magazine publisher to a Hong Kong- based investor group. The buyers are led by Integrated Asset Management Ltd., a Hong Kong investment firm that invests in telecommunications, finance and technology companies.

  • UPDATE 1-Sotheby's to cut jobs to cut costs Friday, 18 Jul 2014 | 3:11 PM ET

    July 18- Sotheby's said it would cut an unspecified number of jobs to cut cost, months after ending a long-running battle with billionaire investor Daniel Loeb by appointing him to its board. Sotheby's shares rose 3 percent to $39 on the New York Stock Exchange on Friday.

  • Sotheby's to cut jobs Friday, 18 Jul 2014 | 2:38 PM ET

    The plan, mainly impacting the auction house's U.S. and UK operations, will result in employee-related restructuring charges of about $13 million to be recognized in the third quarter, the company said.

  • Steve Forbes will continue to serve as chairman and editor-in-chief. The buyer is a newly formed consortium out of Hong Kong called Integrated Whale Media Investments, led by Integrated Asset Management, an investment company that focus on the technology, finance and telecommunications sectors, and Wayne Hsieh, the co-founder of Asustek Computer Inc..

  • *BSkyB in talks to buy Fox's German and Italian units. LONDON/ MILAN/ FRANKFURT, July 18- BSkyB's plan to buy Rupert Murdoch's pay-TV assets in Italy and Germany for perhaps as much as 10 billion euros is a bold bet on long-term growth at the expense of short-term profit, but the pioneering British media firm has pulled off such gambles before.

  • Puerto Rico power company's finances spark concern Thursday, 17 Jul 2014 | 5:50 PM ET

    SAN JUAN, Puerto Rico— U.S. investors on Thursday pressed Puerto Rico government officials about the financial health of the island's power company amid fears it might soon seek to restructure millions of dollars in debt.

  • NEW YORK, July 17- Puerto Rico is fully committed to honoring its debts and expects to be able to access capital markets again possibly as soon as early 2015, officials of the U.S. The law led to a raft of debt downgrades and fears Puerto Rico may embark on full-scale restructuring of its more than $70 billion debt.

  • WASHINGTON, July 17- International Business Machines Corp reported higher than expected quarterly revenue, as it continued to divest low performing sectors and shift to higher-end businesses such as big data, cloud computing, and security and mobile services.

  • Wells Fargo laying off 468 in Birmingham area Thursday, 17 Jul 2014 | 3:39 PM ET

    BIRMINGHAM, Ala.— Wells Fargo is laying off nearly 500 workers from its mortgage servicing team in the Birmingham area, officials announced Thursday. The Birmingham- area layoffs are part of 481 positions that are being eliminated nationwide. Birmingham is the headquarters of the bank's mid-South region.

  • July 17- Microsoft Corp said on Thursday it would slash up to 18,000 jobs, or 14 percent of its workforce, this year. April 2014- The chipmaker said it had cut 1,500 jobs in Costa Rica. January 2014- Announced plans to reduce its global workforce of 107,000 by about 5 percent this year.

  • Memo from Microsoft exec Elop announcing job cuts Thursday, 17 Jul 2014 | 11:01 AM ET

    Microsoft Executive Vice President Stephen Elop sent employees of the company's devices business a memo detailing its job cut plans. Microsoft said it would cut up to 18,000 jobs over the next year, with about 12,500 related to Microsoft's acquisition of Nokia's phone business in April.

  • Memo from Microsoft CEO announcing job cuts Thursday, 17 Jul 2014 | 10:54 AM ET

    Microsoft announced Thursday that it will cut up to 18,000 jobs, or about 14 percent of its staff. CEO Satya Nadella, who took the job in February, delivered the news to staff in a memo that Microsoft released publicly. Date: July 17, 2014 at 5:00 a.m. PT.

  • SEATTLE, July 17- Microsoft Corp will slash up to 18,000 jobs, or 14 percent of its workforce, this year as it almost halves the size of its newly acquired Nokia phone business and tries to transform into a cloud-computing and mobile-friendly software company.

  • Georgia unemployment rate at 7.4 percent Thursday, 17 Jul 2014 | 10:03 AM ET

    ATLANTA— The unemployment rate in Georgia climbed to 7.4 percent in June, a slightly increase from May. Georgia Labor Commissioner Mark Butler said Thursday that the increase in unemployment was attributable to regular seasonal fluctuations. Those include summer job losses among school workers and temporary layoffs in manufacturing.

  • SEATTLE, July 17- Microsoft Corp said on Thursday it will slash up to 18,000 jobs, or 14 percent of its workforce, this year as it trims its newly acquired Nokia phone business and reshapes itself into a cloud-computing and mobile-friendly software company.

  • Microsoft CEO pivots sharply with 18,000 job cut Thursday, 17 Jul 2014 | 8:30 AM ET

    LOS ANGELES— Microsoft announced the biggest layoffs in its 39- year history Thursday, outlining plans to cut 18,000 jobs in a move that marked the CEO's sharpest pivot yet away from his predecessor's drive for the company to make its own devices.

  • SEATTLE, July 17- Microsoft Corp is set to cut more than 6,000 jobs in an announcement expected early Thursday, according to sources familiar with the matter, as it trims its newly acquired Nokia phone business and reshapes itself as a cloud-computing and mobile-friendly software company.