Thyssenkrupp CEO: no taboos in steel consolidation plans
FILE PHOTO: Martina Merz, CEO of German conglomerate Thyssenkrupp AG, gestures during the annual shareholders meeting in Bochum, Germany, January…
Airbus examining restructuring including job cuts: sources
PARIS/TOULOUSE (Reuters) – Airbus (AIR.PA) is drawing up plans for a restructuring involving the possibility of “deep” job cuts as…
UBS posts 40% first-quarter net profit rise as transaction levels jump
FILE PHOTO: The logo of Swiss bank UBS is seen in Zurich, Switzerland October 25, 2018. REUTERS/Arnd Wiegmann ZURICH (Reuters)…
Bankruptcy looms over U.S. energy industry, from oil fields to pipelines
NEW YORK (Reuters) – U.S. shale producers, refiners and pipeline companies are scrambling for cash and face likely restructuring as…
PG&E proposes board revamp in revised bankruptcy plan
FILE PHOTO – A PG&E truck carrying an American Flag drives past PG&E repair trucks in Paradise, California, U.S. November…
California governor rejects PG&E bankruptcy reorganization plan
(Reuters) – California Governor Gavin Newsom on Friday rejected a bankruptcy reorganization plan submitted by PG&E Corp (PCG.N), the state’s…
CBS ordered to disclose internal records on Viacom deal
(Reuters) – A Delaware judge on Monday ordered broadcaster CBS Corp to turn over records regarding its plan to reunite…
Groups bidding for PES refinery due to tour fire-damaged site: sources
NEW YORK (Reuters) – Groups vying for the idled Philadelphia Energy Solutions oil refinery have entered the second phase of…
Sacklers reaped up to $13 billion from OxyContin maker, U.S. states say
(Reuters) – OxyContin maker Purdue Pharma LP steered up to $13 billion in profits to the company’s controlling Sackler family,…
Thomas Cook Germany in rescue talks with investors
BERLIN (Reuters) – Thomas Cook’s German tour business filed for insolvency on Wednesday in a move aimed at separating its…
Elliott renews call to split Marathon Petroleum
(Reuters) – Elliott Management Corp on Wednesday renewed its demand for Marathon Petroleum Corp (MPC.N) to split into three companies,…
Commerzbank planning to cut 4,300 jobs as part of strategic review
FILE PHOTO: A sign for an ATM of Commerzbank is seen next to the headquarters of Deutsche Bank (R) in…
Shares rally, bond yields rise as China fuels trade deal hopes
NEW YORK (Reuters) – U.S. and European shares advanced on Thursday as China struck a hopeful tone on trade relations…
PES up against the clock to sell Philadelphia refinery in cash crunch
NEW YORK (Reuters) – Finding a buyer for Philadelphia Energy Solutions’ oil refinery has grown urgent as the bankrupt company’s…
Exclusive: PSA, Dongfeng to drop two China auto plants, halve workforce – document
BEIJING/PARIS (Reuters) – Peugeot maker PSA Group (PEUP.PA) and partner Dongfeng Group (0489.HK) have agreed to cut thousands of jobs…
Exclusive: J.C. Penney taps debt restructuring advisers – sources
(Reuters) – J.C. Penney Co Inc (JCP.N) has hired advisers to explore debt restructuring options that would buy more time…
Deutsche Bank board to meet July 7 to decide on cutting jobs: sources
FILE PHOTO: The Deutsche Bank headquarters are pictured in Frankfurt, Germany, April 25, 2019. REUTERS/Ralph Orlowski/File Photo FRANKFURT (Reuters) –…
Conatus Pharma to explore options as liver disease drug fails trial
(Reuters) – Conatus Pharmaceuticals Inc said on Monday it plans to explore options and implement a restructuring plan after its…
Deutsche Bank to set up 50 billion euro bad bank: FT
FILE PHOTO: Employees of Germany’s largest business bank, Deutsche Bank, gather ahead of the bank’s annual shareholder meeting in Frankfurt,…
Goldman Sachs combining its private-investing units: WSJ
FILE PHOTO: The Goldman Sachs company logo is seen in the company’s space on the floor of the New York…
Philip Green’s Arcadia avoids collapse as creditors back deal
LONDON (Reuters) – Philip Green’s Topshop-to-Dorothy Perkins fashion empire staved off a collapse into administration on Wednesday as creditors approved…
Jet.com falls by wayside as Walmart focuses on its website, online grocery
WASHINGTON (Reuters) – Walmart Inc on Wednesday announced a sweeping overhaul at Jet.com, an online start-up it acquired in 2016…
Total takes on Toshiba’s U.S. LNG business after Chinese buyer pulls out
PARIS/TOKYO (Reuters) – Total will take over Toshiba’s U.S. liquefied natural gas business and get $800 million cash from the…
Fiat Chrysler seeks Renault merger to meet auto challenges
MILAN/PARIS (Reuters) – Fiat Chrysler pitched a finely balanced merger of equals to Renault on Monday in a move to…
Intel says to exit 5G smartphone modem business
FILE PHOTO: Intel’s logo is pictured during preparations at the CeBit computer fair, which will open its doors to the…
German lawmakers challenge deputy finance minister’s Goldman link in bank merger
BERLIN/FRANKFURT (Reuters) – German lawmakers on Monday criticized deputy finance minister Joerg Kukies and Goldman Sachs, alleging a conflict of…
Top Wall Street banks working on Deutsche-Commerzbank merger: sources
FRANKFURT (Reuters) – Goldman Sachs and Citi are helping Germany’s two biggest lenders work on their potential $28 billion-plus merger,…
Deutsche Bank merger talks with Commerzbank raise job fears, lift shares
BERLIN/FRANKFURT (Reuters) – Deutsche Bank and Commerzbank faced concerns from workers unions, Chancellor Angela Merkel’s office and top shareholders on…
Exclusive: KKR, China’s Tencent eyeing bids for Universal Music – sources
LONDON (Reuters) – U.S. buyout fund KKR and China’s Tencent Music Entertainment Group are exploring rival bids for up to…
Ford to close oldest Brazil plant, exit South America truck biz
SAO PAULO/DETROIT (Reuters) – Ford Motor Co said on Tuesday it will close its oldest factory in Brazil and exit…
Honda to shut UK car plant in 2022 with the loss of 3,500 jobs
LONDON (Reuters) – Japanese car maker Honda is set to announce it’s closing its only British car plant in 2022…
Honda to close UK car plant with the loss of 3,500 jobs
LONDON (Reuters) – Japanese carmaker Honda is set to announce the closure of its only British car plant in 2022…
Intel, TPG in early talks to sell McAfee to Thoma Bravo: source
McAfee computer security software is shown for sale at a computer store in San Marcos, California, U.S., May 15, 2017.…
GM CEO to meet with U.S. lawmakers over job cuts
FILE PHOTO: General Motors CEO Mary Barra at a press conference at the North American International Auto Show in Detroit,…
Exclusive: Elliott steps in to boost Arconic’s sale process – sources
(Reuters) – Elliott Management Corp, the activist hedge fund that sits on Arconic Inc’s (ARNC.N) board, has stepped in to…
GM to slash jobs and production, drawing Trump’s ire
DETROIT (Reuters) – General Motors Co said on Monday it will cut production of slow-selling models and slash its North…
Unilever single holding company shares to start trading in December
LONDON (Reuters) – Consumer goods giant Unilever (ULVR.L) (UNc.AS) said simplifying its parent company structure from two UK and Dutch…
Elliott demands fresh revamp at Hyundai Motor Group
SEOUL (Reuters) – U.S. activist hedge fund Elliott Management has renewed its pressure on Hyundai Motor Group with a fresh…
Siemens denies report it may cut 20,000 jobs
MUNICH/BERLIN (Reuters) – German engineering giant Siemens (SIEGn.DE) said a report by monthly Manager Magazin that it could cut 20,000…
Thyssenkrupp needs new strategy, targets not enough: investor
DUESSELDORF (Reuters) – Thyssenkrupp (TKAG.DE) needs a broad overhaul in strategy carried about by a new external chief executive, as…
Exclusive: Mattress Firm explores U.S. bankruptcy to close stores – sources
(Reuters) – Mattress Firm Inc, the largest U.S. mattress retailer, is considering a potential bankruptcy filing as it seeks ways…
Australia’s Fairfax to share print costs with rival News Corp
(Reuters) – Publisher Fairfax Media (FXJ.AX) said on Wednesday it had agreed with rival News Corp’s (NWSA.O) Australian unit to…
Thyssenkrupp in leadership turmoil as chairman quits
DUESSELDORF/FRANKFURT (Reuters) – The chairman of Germany’s Thyssenkrupp (TKAG.DE) has resigned, following the company’s chief executive under pressure from activist…
McDonald’s to post $80-$90 million charges for restructuring, layoffs
(Reuters) – McDonald’s Corp (MCD.N) plans to take $80 million to $90 million in charges during the second quarter from…
Thyssenkrupp CEO feels heat after investor vote of no confidence
FRANKFURT/DUESSELDORF, Germany (Reuters) – Heinrich Hiesinger’s position as Thyssenkrupp’s CEO is more precarious than it has ever been as he…
Porsche to recall 60,000 SUVs for emissions problems: German regulator
HAMBURG (Reuters) – Volkswagen’s (VOWG_p.DE) sports-car brand Porsche has been asked by Germany’s KBA automotive regulator to recall around 60,000…
Lachlan Murdoch to be CEO of new Fox after Disney deal
(Reuters) – Twenty First Century Fox (FOXA.O) said on Wednesday Executive Chairman Lachlan Murdoch will serve as chairman and CEO…
Toshiba says memory chip unit sale to boost annual profit by a third
TOKYO (Reuters) – Japan’s Toshiba Corp said it expects net income to jump 33 percent this financial year thanks to…
Credit raters put pressure on Deutsche Bank over new strategy
FRANKFURT (Reuters) – Deutsche Bank’s (DBKGn.DE) new chief executive Christian Sewing needs to come up with a convincing strategy swiftly…
GM Korea cancels news briefing as temporary workers storm venue
BUPYEONG, South Korea (Reuters) – General Motors Co’s (GM.N) South Korean unit canceled a news conference on Monday after a…
Walmart may launch IPO for Flipkart in as early as four years
MUMBAI (Reuters) – Walmart Inc (WMT.N) said on Saturday in a filing with a U.S. regulator that it may take…
Bank of America’s loan to Remington tests its firearms pledge
WILMINGTON, Del./NEW YORK (Reuters) – Bank of America Corp is preparing to provide critical financing to Remington Outdoor Co, which…
Planemakers risk order disruption as Etihad reviews strategy
DUBAI/PARIS/ABU DHABI (Reuters) – Airbus (AIR.PA) and Boeing (BA.N) are preparing for possible changes to dozens of plane orders from…
House of Fraser shareholder Sports Direct sues over business plan
LONDON (Reuters) – A minority shareholder of Britain’s House of Fraser, Sports Direct (SPD.L), is suing the department store chain…
Jilted Akorn sues Fresenius over deal termination
FRANKFURT (Reuters) – U.S. generic drugmaker Akorn is taking former suitor Fresenius to court after the German healthcare group canceled…