July 31- An employee complaint exposed accounting misconduct at L-3 Communications Holdings Inc, according to people familiar with the matter, prompting the aerospace and defense supplier to fire four people, revise two years of earnings statements and cut its earnings forecast.» Read More
NEW YORK— Stocks are opening lower as investors react to more disappointing earnings from companies. L-3 Communications Holdings plunged 14 percent, the most in the Standard& Poor's 500 index, after the company reported that it was investigating accounting irregularities at is Aerospace Systems unit.
JERUSALEM, July 31- Israeli industrialist Benny Landa said his campaign to improve corporate governance at Teva Pharmaceutical Industries was delivering results, despite losing a shareholder vote at the world's largest generic drugmaker.
The Minneapolis- based company said Thursday that it named PepsiCo executive Brian Cornell to the top spot, replacing Chief Financial Officer John Mulligan, who had been keeping the seat warm since May. "Outside perspective is what Target needs, in our view, given the need to rebuild trust," said Greg Melich, head of consumer research at ISI Group.
July 31- Target Corp appointed PepsiCo Inc executive Brian Cornell as CEO as it tries to regain customer confidence after a devastating data breach last holiday season. Cornell resigned earlier this week as head of PepsiCo's Americas Foods business, which makes Quaker Oats and Frito Lay chips.
PARIS— French drug maker Sanofi said Thursday its earnings soared in the second quarter thanks to lower accounting charges than a year earlier, and the company lifted it full-year profit forecast.
CALGARY, July 30- Penn West Petroleum Ltd said it has uncovered accounting irregularities that misclassified nearly C $300 million in expenses over the last four years, and the Canadian oil producer will restate its results.
Surveys of small businesses show that they started stepping up their pace of hiring in spring. The surveys, by payroll provider ADP and software maker Intuit, count the number of new jobs at their small business customers. While there have been month-to-month fluctuations, the overall trend is up:.
*Q2 oper profit 969 mln euros vs Rtrs poll avg 965 mln. FRANKFURT, July 29- German industrial gases maker Linde reported a decline in quarterly profits on Tuesday, hit by unfavourable foreign exchange rate fluctuations.
July 28- Darden Restaurants Inc's food fight with activist investors Barington Capital Group LP and Starboard Value LP entered a new phase on Monday, when the company said Clarence Otis would step down as chairman and chief executive officer.
July 28- Darden Restaurants Inc said on Monday that Clarence Otis would step down as chairman and chief executive officer, buckling under pressure from activist investors Barington Capital Group LP and Starboard Value LP.
Darden Restaurants said CEO and chairman Clarence Otis is resigning as the company focuses on its Olive Garden chain following the Red Lobster sale.
July 28 (Reuters)- Darden Restaurants Inc said Clarence Otis would step down as chairman and chief executive officer, buckling under pressure from activist investors Barington Capital Group LP and Starboard Value LP.
NEW YORK— Darden Restaurants CEO and Chairman Clarence Otis is stepping down as the company fights to fix its flagship Olive Garden chain following its contested sale of Red Lobster. The company has been pressured to turn around declining sales at Olive Garden and Red Lobster.
CNBC's Bertha Coombs reports Darden CEO Clarence Otis will step down from chairman and CEO roles.
*Warns risks of China partner, future of all-inclusive model. PARIS, July 25- Club Mediterranee's board of directors on Friday advised that a 790 million euro takeover offer for the holiday group from Italian financier and top shareholder Andrea Bonomi was in shareholders' interest.
Creating the perfect board: lawyers, accountants and ... a therapist? Yeah, maybe.
DENVER— Molson Coors Brewing President and CEO Peter S. Swinburn will retire at the end of the year. The brewing company said Friday that Swinburn will be succeeded in the posts by Mark R. Hunter, who currently serves as CEO and president of Molson Coors Europe.
Facebook's record close on Thursday, fueled by earnings, added $1.6 billion to CEO Mark Zuckerberg's bottom line. USA Today reports.
According to Wal-Mart's 8-K filing, U.S. CEO Bill Simon's retirement package includes $9.17 million.
NEW YORK— Wal-Mart is replacing the chief of its U.S. discount stores in what could be an indication that it's losing confidence that its largest business unit will rebound after more than a year of disappointing results.
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