GO
Loading...

Enter multiple symbols separated by commas

Corporate Restructuring

More

  • Newell to Shed Assets, Cuts 2008 Profit Forecast Tuesday, 15 Jul 2008 | 11:12 AM ET
    NewellRubbermaid_Logo.jpg

    Consumer products maker Newell Rubbermaid said on Tuesday that it would exit some product lines and raise prices to offset rapidly rising resin costs and protect profit margins.

  • Wachovia Names Robert Steel as Chief Wednesday, 9 Jul 2008 | 7:43 PM ET
    A Wachovia branch bank is shown in a Charlotte, N.C. file photo from July 20, 2006. After a rough year, the banking industry appears headed for another in 2007. (AP Photo/Chuck Burton, File)

    Wachovia Corp, the fourth-largest U.S. bank, named Treasury Undersecretary Robert Steel chief executive on Wednesday, and said mortgage and legal problems will result in a $2.6 billion to $2.8 billion second- quarter loss, much larger than many analysts expected.

  • Siemens to Cut 16,750 Jobs Amid Economic Downturn Tuesday, 8 Jul 2008 | 11:46 AM ET
    siemens1.jpg

    German industrial conglomerate Siemens  plans to cut around 4 percent of its workforce as part of an overhaul and as a result of the global economic downturn, Siemens said on Tuesday.

  • AIG Shareholders Demand Board Changes Wednesday, 11 Jun 2008 | 10:09 PM ET
    AIG.jpg

    Shareholders of American International Group are demanding changes to the management and board of the world's largest insurer, which has been struggling with the fallout of the subprime mortgage mess.

  • Rating Agencies to Get Tougher Industry Code Wednesday, 28 May 2008 | 8:19 AM ET

    Credit rating agencies will be banned from helping to design products they also grade as part of a tougher industry code of conduct to tackle issues raised by the U.S. subprime mortgage crisis such as conflicts of interest.

  • AIG's Chairman: Board Stands Behind CEO Sullivan Wednesday, 14 May 2008 | 2:00 PM ET

    American International Group Chairman Robert Willumstad said Wednesday the global insurance giant's directors stand behind Chief Executive Martin Sullivan, fending off concerns raised by investors frustrated by two quarters of record losses.

  • AIG Sees No Need to Delay Annual General Meeting Monday, 12 May 2008 | 10:41 PM ET
    AIG.jpg

    Maurice "Hank" Greenberg, former chief executive of American International Group, has said the insurer is in "crisis" and urged a delay in its annual general meeting scheduled for Wednesday, according to a letter he sent to the board.

  • Woori Gains on Privatization Hopes, CEO Leaves Wednesday, 7 May 2008 | 1:39 AM ET

    Shares in South Korea's Woori Finance Holdings jumped as much as 5 percent to a near 7-month high on Wednesday as news that its CEO was to step down boosted hopes that Privatization plans could be speeded up.

  • UBS: If the Worst is Over, Where's the Visibility? Tuesday, 6 May 2008 | 6:43 AM ET

    When Warren Buffet treated his 31,000 plus audience to his annual Berkshire Hathaway gathering in Nebraska recently he was asked about the banks. When would he be happy to buy back into U.S. investment banks?

  • UBS Seen Slashing Jobs with Big Quarterly Loss Friday, 2 May 2008 | 10:48 AM ET
    ubssign2.jpg

    UBS shares rose over 5 percent on Friday on hopes the ailing Swiss bank will unveil job cuts next week to reverse breakneck expansion into investment banking which made it Europe's worst subprime victim.

  • Asahi Glass to Close Three North American Plants Thursday, 17 Apr 2008 | 1:01 AM ET

    Japan's Asahi Glass said on Thursday that it will close three North American factories and halt production at two others, battered by a U.S. housing market slump in the wake of the subprime mortgage crisis.

  • Poll: Should UBS Be Broken Up? Friday, 4 Apr 2008 | 8:06 AM ET

    Shares of Swiss bank UBS rose 3.7 percent Friday as activist investor Luqman Arnold called for a restructuring of the company that would include a sale of its asset-management business.

  • Citi Splits Consumer Banking and Credit Cards Units Monday, 31 Mar 2008 | 2:09 PM ET

    Citigroup plans to split its consumer banking unit from its credit-card business as part of a broader reorganization to cut costs and simplify the large financial institution's structure, the company said Monday.

  • Ebay to Cut 125 Jobs in Europe, North America Thursday, 20 Mar 2008 | 4:27 PM ET

    EBay said Thursday it is cutting 125 jobs in Europe and North America, including 70 positions at the online auctioneer's headquarters in San Jose, Calif.

  • Rentokil Hires ICI Team in Fight for Recovery Thursday, 20 Mar 2008 | 6:00 AM ET

    Pest control to parcel delivery firm Rentokil Initial is parachuting in the management team that turned around chemicals group ICI in a bid to recover from two profit warnings that have hammered its shares. 

  • Siemens Issues Profit Warning, Shares Tumble Monday, 17 Mar 2008 | 4:46 AM ET
    siemens1.jpg

    Engineering group Siemens issued a profit warning after a review of major projects at three operations, sending its shares down as much as 7 percent in pre-market trading on Monday.

  • Congress Rips Lavish Pay of Subprime CEOs Friday, 7 Mar 2008 | 2:03 PM ET

    The stunning pay packages of executives at financial groups hammered by the U.S. mortgage crisis came in for stinging criticism from Democratic lawmakers and investor advocates at a congressional hearing Friday.

  • T. Italia Shares Hit 10-Year Low as Debt Fears Grow Friday, 7 Mar 2008 | 12:11 PM ET

    Telecom Italia shares slid to a 10-year low on Friday as a grim sales outlook and plans to expand overseas in a much-heralded new strategy stoked fears over its costly debt.

  • Countrywide: Mortgage Controls Have Gone Too Far Friday, 7 Mar 2008 | 10:42 AM ET

    Countrywide Financial CEO Angelo Mozilo told a congressional panel Friday that he is "extremely concerned" that recent tightening of mortgage underwriting criteria has gone too far.

  • Banks CEOs Face Grilling over Compensation Friday, 7 Mar 2008 | 7:25 AM ET

    The heads of three companies implicated in the mortgage crisis have been asked to explain how they collectively received hundreds of millions of dollars in compensation while their companies were losing money.