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Corporate Restructuring

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  • BP CEO Makes Sweeping Changes Thursday, 11 Oct 2007 | 10:55 AM ET

    The chief executive of BP on Thursday outlined a plan to address industry-lagging profitability by slashing management layers, adopting consistent procedures for developing oil and gas fields and reducing "unacceptably high" costs.

  • Virgin Mobile USA IPO Raises $412.5 Million Wednesday, 10 Oct 2007 | 8:10 PM ET
    Virgin Media Phone

    Virgin Mobile USA, a venture of Sprint Nextel and Richard Branson's Virgin Group, raised $412.5 million on Wednesday, with an initial public offering that priced at the low end of expectations.

  • American Airlines Pilots Turn Up Heat on CEO Wednesday, 10 Oct 2007 | 1:54 PM ET

    The president of the pilots' union at American Airlines ripped the company's chief executive in a letter that ended with a threat to "see you in court, in the newspapers, and on the picket line."

  • Hershey's Top Shareholder Sour on Performance Wednesday, 10 Oct 2007 | 1:51 AM ET

    The charitable trust that controls Milton Hershey's fortune and The Hershey Co., the U.S. chocolate company he founded, said Tuesday it is not satisfied with the company's lackluster performance, and is working to improve it.

  • US Treasury Debt Prices Steady Before Fed Minutes Tuesday, 9 Oct 2007 | 8:16 AM ET

    US Treasury debt prices were steady early Tuesday as investors looked ahead to the release of minutes from the Federal Reserve's policy meeting last month when the central bank cut benchmark interest rates.

  • EADS Chief Proposes Banning Stock Options Tuesday, 9 Oct 2007 | 7:08 AM ET

    The head of European aerospace group EADS said in remarks published on Tuesday he would propose scrapping the company's management stock option system amid an ongoing insider trading investigation.

  • Ultrasound Drugs Face FDA Warning: WSJ Sunday, 7 Oct 2007 | 11:14 PM ET

    The U.S. Food and Drug Administration is preparing to warn physicians about hazards with drugs that use ultrasound imaging machines to enhance the diagnosis of heart problems, the Wall Street Journal reported on its Web site on Sunday.

  • Momentum Builds Toward Ratification of GM Contract Friday, 5 Oct 2007 | 5:13 AM ET

    Momentum has been building toward the United Auto Workers accepting a tentative contract with General Motors, though members at some key locals backed it by narrow margins in results released Thursday.

  • GE to Shut Lighting Plants, Cut Up To 1,400 Jobs Thursday, 4 Oct 2007 | 6:12 PM ET

    General Electric said Thursday it will close a number of lighting plants in Brazil and the U.S., as part of a plan to restructure its consumer and industrial division, potentially cutting more than 1,400 jobs in the process.

  • Alcoa to Sell Units, Take Charges in Revamp Thursday, 4 Oct 2007 | 5:09 PM ET

    Alcoa, the biggest U.S. aluminum producer, said Thursday it will sell its packaging and consumer and automotive castings businesses, and restructure its electrical and electronic solutions business.

  • Kraft to Make Oscar Mayer, Pizza, Separate Units Thursday, 4 Oct 2007 | 2:28 PM ET

    Kraft Foods plans to turn Oscar Mayer meats into a separate business unit as part of a change the largest North American food company hopes will make all its businesses more accountable, a spokeswoman said Thursday.

  • Merrill Shakes Up Staff After Investment Losses Thursday, 4 Oct 2007 | 12:01 PM ET

    The world's largest brokerage Merrill Lynch, which is expected to announce third-quarter losses in fixed income, said that global head of fixed income, currencies & commodities, has left the firm.

  • Spaniards to Control Iberia Board in TPG Bid: Source Thursday, 4 Oct 2007 | 6:45 AM ET

    Spanish funds within a group looking to buy Spanish carrier Iberia will control both the board and hold the majority of its capital if successful, an industry source told Reuters on Thursday.

  • Yahoo, eBay Take Steps to Block Phishing Attacks Thursday, 4 Oct 2007 | 6:41 AM ET
    Yahoo

    Yahoo, is working with auction leader eBay and its PayPal payments unit to block fake e-mails to users purporting to be from eBay and PayPal, hoping to spur on an industry that has been slow to fight the scourge of so-called phishing attacks.

  • Bain Capital Agrees to Security Review of 3Com Buyout Thursday, 4 Oct 2007 | 2:28 AM ET

    Bain Capital Partners said it will submit for a national security review its proposed $2.2 billion buyout of networking equipment maker 3Com Corp.

  • Banks Reduce Credit Lines to H&R Block Mortgage Unit Wednesday, 3 Oct 2007 | 6:46 PM ET

    H&R Block the largest U.S. tax preparer, said on Wednesday bank lines at its Option One Mortgage Corp lending unit were terminated or reduced, as the subprime mortgage company reduces it lending volume.

  • Merrill Lynch Replaces Fixed-Income Head Wednesday, 3 Oct 2007 | 5:08 PM ET

    Merrill Lynch said on Wednesday that David Sobotka replaced Osman Semerci as global head of fixed income, currencies & commodities.

  • Bear Stearns to Cut 310 Jobs, Shuffle Mortgage Unit Wednesday, 3 Oct 2007 | 2:05 PM ET

    Bear Stearns said on Wednesday it was cutting 310 jobs in its mortgage origination businesses as part of a reorganization of its mortgage operations.

  • US Airways to Reduce Pittsburgh Service Wednesday, 3 Oct 2007 | 12:53 PM ET

    US Airways Group said on Wednesday it will cut flights from its unprofitable Pittsburgh hub, a move that will cut about 450 airlines jobs in the city.

  • GE's 2007 International Sales to Top U.S. Sales Monday, 1 Oct 2007 | 1:22 AM ET

    General Electric said that, for the first time, it would earn more this year from its operations outside the United States than from in the U.S., mainly because of strong revenue growth in emerging markets.