Ismael Pili, head of Financials Research, Asia at Macquarie Securities, says Bill Winters could push through the much-needed structural reforms in Standard Chartered when he takes over as chief executive in June.» Read More
Citigroup, the largest bank in the United States, said on Thursday that its former Chairman and Chief Executive, Charles Prince, will take home roughly $40 million as he retires from the company.
The surprising Vioxx settlement brought me back to the office today in the middle of my vacation--I could've literally phoned it in as I did on "Squawk Box" this morning, but as long as I was in town, I'm too hard core to stay at home working around the house when a big story like this one breaks on my beat.
1st paragraph of story should go here
I just reported on Disney earnings, and once again it's double digit earnings growth for the mouse house. Disney beat analyst expectations, reporting 42 cents a share, excluding a tax benefit. It was across-the-board growth: strong performance in the media networks--operating income in the division up 23 percent--driven by ESPN and the Disney Channel, especially overseas.
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.
General Motors CEO Rick Wagoner sees "tough circumstances" in the marketplace, but expects "no cash impact" from a massive charge that left his company with a record $39 billion third-quarter loss.
An update on the ongoing stock sales by Larry Ellison, Oracle's CEO, which began in late September and haven't let up since. He's now up to 30 million shares and counting since that first sale on Sept. 26, worth about $700 million so far.
Now that Citigroup’s Chuck Prince is gone, the Hall has a new king. Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
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.
The analyst whose downgrade of Citigroup sparked a broad stock market sell-off on Thursday said she has received several death threats stemming from her research, the Times of London said.
Merrill Lynch's board of directors has alerted BlackRock chairman Larry Fink that he can take over as CEO if he so choses. Fink, according to sources close to the matter, has said he will take the next two weeks to decide.
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.
There's a flurry of selling going on this morning in shares of the biopharma Vertex Pharmaceuticals. Overnight the embargo lifted on the long awaited results of the company's mid-stage test on a new type of Hepatitis C drug. Two studies show that six months out 60% and 65% of patients had no detectable virus in their blood.
This morning we got more evidence about the havoc generic Zocor is wreaking on all of the companies that make brand-name statins--the pills to fight cholesterol. AstraZeneca is the latest casualty. On a down day in the markets AZN is one of the biggest losers in the sector.
As expected, Chrysler is wasting little time in downsizing both its work force and struggling line-up of vehicles. Today, the automaker announced it will cut another 8,500 to 10,000 jobs, including 1,000 white collar employees. This round of downsizing is on top of the 13,000 job cuts announced earlier this year as part of the plan to get Chrysler back in the black.
You gotta hand it to the folks over at Goldman Sachs, but particularly Brent Bracelin at Pacific Crest Securities who issued a note on Oct. 8, raising his estimates on Dell and singing the company's praises as it emerges from a financial purgatory gripping the company for more than a year.
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.