NEW YORK, April 1- General Electric would commit to financing a new natural gas plant in Puerto Rico under a debt restructuring plan proposed by creditors of the island's struggling power utility, according to plan documents obtained by Reuters. Reuters reported on Saturday that an ad hoc group of PREPA creditors, including OppenheimerFunds and Franklin...» Read More
Shares of Home Depot rose as much as 2 percent Monday after sources said the home improvement retailer agreed to cut the price in the sale of its supply unit by $1.8 billion to $8.5 billion.
Altria Group is widely expected to announce plans for the spinoff of its Philip Morris International unit this week, but some analysts see limited gains for a stock that already looks more expensive than its peers.
Crocs said Monday it will launch a line of clothing using a form of the resin material it uses in its brightly colored clogs, sending the shoe company's shares up 3 percent.
Home Depot agreed to cut the price in its supply division sale to buyout firms by $1.8 billion, sources said on Sunday, as a housing market drop and a credit crunch forced all sides to renegotiate.
Shares of Home Depot were up 1.3 percent Friday as investors waited for word about whether a sale was on or off for the home improvement retailer's contractor business.
Krispy Kreme Doughnuts said Friday that it is realigning its franchise and company store operations, a move that should help the company improve sales at existing locations and cut costs.
BHP Billiton, the world's biggest mining company, said it would seek to grow aggressively in India where volume growth is outstripping China, its other boom market.
Shares of Thornburg Mortgage, Accredited Home Lenders Holding and other mortgage stocks were trading higher before the opening bell Thursday after Bank of America made a $2 billion investment in Countrywide Financial.
Social networking Website Facebook is working on an advertising system to allow marketers to target users with ads based on the information people reveal about themselves on the site, the Wall Street Journal reported in its online edition early on Thursday.
Ford Motor will not make an announcement about the sale of its Jaguar and Land Rover units until late this year or perhaps early in 2008, the head of the company's European operations said Wednesday night.
Former AOL executive Stephen M. Swad has become the new chief financial officer at mortgage finance giant Fannie Mae, the company said Wednesday. Swad's succession as finance chief, replacing Robert Blakely, had been planned for some time. Blakely stepped down as its chief financial officer last Friday but remains an executive vice president.
Accredited Home Lenders Holding said on Wednesday it had stopped taking mortgage applications and would eliminate 1,600 jobs, or 62 percent of its work force, to cope with turmoil in subprime lending.
Archer Daniels Midland said Wednesday it is reorganizing under a single operations group, a move that will lead to some managerial positions being eliminated at the largest U.S. food processor and ethanol maker.
First Magnus Financial, one of the largest independent U.S. mortgage lenders, filed for Chapter 11 bankruptcy protection on Tuesday, the latest home loan provider to collapse as the housing market slumps and credit crisis widens.
Amgen shares plunged to a 52-week low on Thursday in the wake of the biotechnology firm’s announcement that it will lay off more than 2,000 and as many as 2,600 employees--or 12 percent to 14 percent of its labor force.
Kraft Foods is in the early stages of looking for a buyer for its Post cereals business, maker of the Grape Nuts and Shredded Wheat brands, the Wall Street Journal reported on its Website on Thursday.
Biotechnology firm Amgen said after U.S. markets closed Wednesday that it will slash its employee base by between 12 and 14% in hopes of reducing its 2008 cost forecasts by $1 billion to $1.3 billion on a pre-tax basis.
Starbucks promoted the head of its international business to the new post of chief operating officer, part of a slew of management changes focused on the global development of the U.S.-based coffee shop chain.
Nokia said Klaus Kleinfeld, the president and chief executive of Siemens, has resigned from the board of Nokia Siemens Networks, as of July 1.
Wells Fargo, the fifth-largest U.S. bank, on Wednesday named John Stumpf chief executive, replacing Richard Kovacevich, who will remain chairman.