LONDON, Oct 18- The world's third largest retailer, Tesco, will state next week that it overestimated earnings by less than the 250 million pounds which it previously announced, Sky news reported on Saturday, citing an unnamed banking source. Over the last year Tesco's big out-of-town stores have lost favor as shoppers buy more produce locally and online, while...» Read More
Citigroup and Merrill Lynch, both seeking new chief executives after taking billions of dollars in write-downs, may compete for the same talent pool as they seek successors to their recently departed chief executives, CNBC has learned.
Jeff Bewkes, the incoming CEO of Time Warner, on Tuesday named John K. Martin to be chief financial officer beginning Jan. 1, the same time Bewkes himself will take command of the media conglomerate.
Time Warner confirmed a CNBC report that Dick Parsons is stepping down as CEO and will be replaced by Chief Operating Officer Jeff Bewkes.
Chuck Prince is out, but it's far from clear who will take over as CEO of Citigroup, the nation's largest bank. Sandy Weill told CNBC he's not interested in returning to run the company..
Citigroup's largest shareholder, Saudi Arabian Prince Alwaleed bin Talal, may want ousted Chief Executive Charles Prince to be replaced by former Citigroup CEO Sandy Weill, at least on an interim basis.
Former American International Group chief executive and major stockholder Maurice "Hank" Greenberg said in a filing on Friday that he was considering "strategic alternatives" for the world's largest insurer.
The rapid fall of Stanley O'Neal from the helm of Merrill Lynch has left investors wondering who else in the banking industry may pay a price for the U.S. subprime mortgage crisis.
If Merrill Lynch Chief Executive Stan O'Neal is forced out, there's little doubt who the firm's army of more than 16,000 brokers would like to see replace him: their own boss.
Time Warner shares rose nearly 4 percent on a report that Chief Executive Richard Parsons plans to announce his exit as early as next week.
With earnings season underway, CEOs are out talking about their companies. Here's what three of them told CNBC on Wednesday.
Investors are still jittery about the future of Bear Stearns, and they cite several reasons, CNBC has learned.
CtW Investment Group, a pension fund advisory group affiliated with seven labor unions, said it sent a letter to the board of Countrywide Financial, urging it to ask for the resignation of Chief Executive Angelo Mozilo, The Wall Street Journal said.
An ebbing tide may take all ships lower, but that doesn't mean the housing crisis is going to make people stop buying mattresses.
What's on the minds of today's chief executives? Here's a sampling of what CEOs are saying on CNBC.
Real estate developer and Trump Organization Chairman Donald Trump appeared on CNBC's "The Billionaire Inside" to offer his unique perspective on what it takes to be a tycoon.
Here's a look at what some CEOs are talking about on CNBC today:.
Citigroup denied speculation in the markets that embattled CEO Charles Prince had been asked to step down, a rumor that briefly sent Citi shares higher.
CBS Corp. said it has signed a new employment contract with Chief Executive Leslie Moonves that extends his term to 2011.
Package delivery company United Parcel Service said Monday that Chief Financial Officer Scott Davis will replace Chief Executive Officer Mike Eskew, who will step down at the end of this year.
The chief financial officer of General Electric said Friday he is "not losing sleep" over the possible slowing of the U.S. economy, driven by troubles in the housing market.
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