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Corporate Restructuring

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  • 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.

  • Pressure Cranks Up On Alcatel-Lucent's Russo Friday, 28 Sep 2007 | 11:55 AM ET

    The board of directors of Alcatel-Lucent has given chief executive Patricia Russo one month to produce an emergency restructuring plan, the Financial Times reported on Friday.

  • Investor Guy Wyser-Pratte has bought a 1% stake in TUI and along with other critics wants to oust Michael Frenzel, the chief executive of the German shipping and tourism group, a paper reported.

  • Four medical device implant makers will pay about $311 million and agree to federal monitoring and other reforms to settle a government probe into improper consulting contracts with surgeons, federal prosecutors said Thursday.

  • AMR Investor Urges Frequent-Flyer Spinoff Thursday, 27 Sep 2007 | 11:14 AM ET

    FL Group, an Icelandic private equity firm that owns 8.25 percent of AMR, said in a letter to the board that changes at the company were long overdue, given the 50 percent drop in the share price since January.

  • Google Plans Staff Expansion in Europe: FT Thursday, 27 Sep 2007 | 9:14 AM ET

    Google is planning to expand its staff by a third, with most of the new hirings in Europe, the Financial Times reported on its Website.

  • U.S. Economy May Avoid Recession: Freddie Mac Wednesday, 26 Sep 2007 | 5:55 AM ET

    Freddie Mac, the No. 2 U.S. mortgage financing company, does not expect the economy to fall into recession from the housing market downturn and even sees opportunities in the shake-up, its treasurer said on Wednesday.

  • FedEx shareholders may vote Monday to separate the role of chairman and chief executive officer at the company's annual meeting.

  • Dell Ties Up With Gome to Sell PCs in China Monday, 24 Sep 2007 | 1:09 AM ET

    Dell said on Monday it would sell its latest range of personal computers through China's largest electronics retailer, Gome Group.