U.S. automaker Chrysler LLC showed signs of progress with its unionized workers in its battle to stay alive on Sunday with just days left to complete deals to slash labor and debt costs or face bankruptcy.
Whirlpool Corp reported a surprise quarterly profit on Monday as cost-cutting efforts helped the world's biggest appliance maker weather a slump in global sales, and it backed its 2009 profit forecast.
General Motors Corp. unveiled its restructuring plan on Monday, which may help it avoid filing for bankruptcy protection, focusing on new product developments including a confirmation of current development plans for its highly anticipated electric vehicle, the Chevy Volt.
HSBC Private Equity and Actis Capital LLP are preparing rival bids for a stake in Franklin Offshore International, sources said on Monday, as struggling private equity firm 3i Group Plc seeks to sell its majority stake in the oil services company.
The chairman of Fortis is optimistic investors will back a deal to sell assets to France's BNP Paribas, even without the support of Fortis's largest shareholder, he said on Monday.
Specialty glass maker Corning Inc posted better-than-expected quarterly profit, boosted by cost cutting and improving demand for glass for flat screen televisions and computer monitors.
General Motors Corp. said Monday it would cut its factory workforce by 21,000 by end of 2010 and seek to do a debt for equity swap with government for more than half of its government debt as part of its restructuring plan.
MILAN - Fiat SpA's chief executive might swear that he is not trying to build an empire, but he is certainly looking for scale -- on the cheap.
General Motors Corp on Monday said it would cut debt, close plants, slash jobs and drop the Pontiac brand as part of a sweeping restructuring that would see the automaker emerge under the ownership control of the U.S. government and its major union.
Chrysler LLC Chief Executive Bob Nardelli said on Monday that German automaker Daimler AG is working with Cerberus Capital Management to divest its 19.9 percent stake in struggling U.S. automaker.
Spanish engineering company Abengoa has begun operating a 20 megawatt solar power plant that is the world's biggest, using a tower to turn the sun's rays into electricity and can supply 10,000 homes, it said on Monday.
Humana Inc posted a huge gain in first-quarter profit on Monday on improvement in its Medicare health plans for seniors, and the insurer raised its full-year earnings forecast.
General Motors Corp on Monday announced plans to close plants, cut hourly workers and dealers and to eliminate its Pontiac brand in an effort to meet government demands for a quicker and deeper restructuring.
Specialty glass maker Corning Inc posted better-than-expected quarterly profit, boosted by cost cutting and improving demand for glass for flat screen televisions and computer monitors.
General Motors Corp on Monday announced plans to close plants, cut hourly workers and dealers and to eliminate its Pontiac brand in an effort to meet government demands for a quicker and deeper restructuring.
Whirlpool Corp on Monday reported a surprising quarterly profit after cost-cutting efforts helped the world's biggest appliance maker offset a slump in global sales.
Humana Inc posted a huge gain in first-quarter profit on improvement in its Medicare health plans for seniors, and the insurer raised its full-year earnings forecast.
Anheuser-Busch InBev has picked private equity firm Kohlberg Kravis Roberts & Co as preferred buyer for Oriental Brewery, South Korea's second-biggest beer maker, an OB official said on Monday.
Anheuser-Busch InBev has picked private equity firm Kohlberg Kravis Roberts & Co as preferred buyer of South Korea's Oriental Brewery , a company official said on Monday, confirming a report.
American International Group Inc has received second-round bids from three groups for its aircraft leasing business, valuing the unit at under $5 billion, a source familiar with the matter said on Monday.
General Motors Corp is set to announce on Monday an accelerated restructuring that would close additional plants and pave the way for a debt exchange by the struggling automaker, sources briefed on the plan said on Sunday.
The United Auto Workers said on Sunday the union had reached agreement with Chrysler LLC, Italian automaker Fiat SpA and the U.S. government on concessions to its 2007 contract and healthcare trust.
There has been some progress in U.S. government-driven negotiations to save Chrysler LLC, according to a senior White House official, who on Sunday also did not rule out an attempt to complete the company's restructuring in bankruptcy.
Several potential bidders are interested in buying Harbinger Capital Partners's 20 percent stake in The New York Times Co, The Wall Street Journal reported on Saturday.
The Emir of Qatar plans to buy a stake in Porsche, possibly shoring up the German sports-car maker's strained finances, a German magazine reported.
German Economy Minister Karl-Theodor zu Guttenberg said on Saturday Austrian-Canadian auto parts supplier Magna is a potential investor in General Motors' struggling German unit Opel.
Forget the goody bags. Many shareholders accustomed to grabbing free food and gifts at U.S. corporate annual meetings are going home empty-handed.
Chrysler won a round of concessions from its Canadian union on Friday while General Motors Corp soaked up $2 billion more in U.S. government aid and Ford Motor Co posted a narrower-than-expected loss that sent its shares soaring.
Chrysler LLC's lenders offered to cut the amount they are owed in a proposal to the Obama administration that points to an acceleration in the pace of high-stakes debt restructuring talks.
Chrysler's lenders and a Canadian union continued talks with less than a week to a U.S. government deadline to cut deals, as Ford Motor Co posted a $1.4 billion loss that was less than analysts had expected.
