PetroChina Company Limited today issued an A-shares prospectus Letter of Intent, and published a preliminary notice for inquiry. According to sources, the Chinese oil executives will lead a roadshow team in Shanghai, Shenzhen, Guangzhou and Beijing to start inquiry agencies promote and preliminary work.
Ratification of the tentative labor contract between the United Auto Workers union and Chrysler LLC was thrown into jeopardy on Monday after workers at four of the eight assembly plants that must vote on the deal rejected it. The strong opposition to the Chrysler deal marks a setback for leadership of the UAW, which reached a tentative agreement with Chrysler on October 10 after a six-hour strike.
Dell Inc (DELL.O) said it would sell personal computers, printers, monitors and ink supplies in 1,400 Staples Inc (SPLS.O) stores in the United States, its latest move into retail after breaking from 23 years of selling directly to consumers.
Oil fell sharply toward $87 a barrel on Monday as part of a broad-based commodities sell-off on concerns over the health of the U.S. economy and a recovery in the U.S. dollar.
Countrywide Financial Corp Chief Executive Angelo Mozilo should give up his role as chairman, and the largest U.S. mortgage lender should overhaul its practices for granting stock options, a union-affiliated pension plan urged on Monday.
Barclays and Royal Bank of Scotland have lined up emergency funds of up to $30 billion from the U.S. Federal Reserve to bail out American clients caught up in the global credit crunch, a paper said.
British insurer Resolution hit six-year highs in a weaker market on Monday, lifted by hopes of a 5 billion pound ($10.2 billion) bid from rival Standard Life, backed by giant Swiss Re.
Multinational retailers are waiting for India's chaotic industry to settle down.
Bear Stearns Cos, the U.S. investment bank battered by slumping mortgage markets, and China's CITIC Securities Co have agreed to swap stakes in each other and form a broad alliance, the firms said on Monday.
The deal would bolster access to business in booming China for Bear, which lags bigger Wall Street rivals in expanding its business beyond the United States.
Electrolux undershot forecasts with flat quarterly earnings on Monday as new product launches cost more than expected, and said its outlook for higher full-year earnings had grown more uncertain.
Third quarter U.S. corporate earnings are expected to show a lower increase next week, weighed down by consumer and financial sectors, Reuters Estimates said on Monday.
Wal-Mart Stores Inc will spend up to 100 billion yen ($878 million) to buy out minority shareholders in Japanese supermarket unit Seiyu Ltd in an effort to turn around the money-losing chain.
Bridgestone Corp aims to boost annual profit by 80 percent and sales by a fifth over the next five years as it steps up its quest to be the world's biggest tire maker.
Affordable art sounds like a contradiction in terms these days, but there are some cheap alternatives.
Wal-Mart's lawyers have an early holiday message for Web sites that post Black Friday ads ahead of their official release date: Don't do it.
Wachovia Corp posted on Friday a 10 percent decline in third-quarter profit, missing forecasts, as the fourth-largest U.S. bank suffered $1.3 billion of write-downs at its investment banking unit.
Caterpillar Inc, the world's top maker of earth-moving equipment, diesel engines and gas turbines, posted disappointing quarterly earnings on Friday and cut its full-year forecast, sending its shares down 3.5 percent.
Bear Stearns Cos is being investigated by Massachusetts securities regulators over whether the bank improperly traded with two in-house hedge funds that collapsed last summer, the Wall Street Journal reported on Friday.
Robust demand for cheaper phones boosted third-quarter earnings at Nokia Oyj, the world's biggest maker of mobile phones, with the better than expected result sending its shares sharply higher.
Global sales from clean energy sources like wind, solar and geothermal power and biofuels could grow to as much as $1 trillion a year by 2030, U.S. bank Morgan Stanley has estimated.
Financial companies led Wall Street lower on Thursday after a sharp drop in Bank of America Corp's earnings stoked worries about the extent the credit crunch has hurt the economy and profits.Bank of America, the No. 2 U.S. bank, said profit plummeted 32 percent as it took large write-downs for leveraged and other loans and recorded losses from structured products, including mortgage debt.
PNC Financial Services Group Inc, a fast-growing Northeast U.S. regional bank, on Thursday said quarterly net income fell from a year earlier when it recorded a $1.3 billion gain from its BlackRock Inc money management affiliate.
Shares of E*Trade Financial Corp plunged more than 7 percent on Thursday, a day after the online brokerage posted a third-quarter loss and lowered its full-year forecast for the fourth time this year.
Insurer UnitedHealth Group Inc posted a better-than-expected 15 percent rise in quarterly profit on Thursday, helped by its plans serving low-income and older Americans.
Pfizer Inc, Novartis AG and Wyeth all saw quarterly earnings hit by charges on Thursday, while Eli Lilly and Co exceeded Wall Street expectations as third-quarter sales of several of its drugs outpaced analysts' estimates. Pfizer, the world's largest drug maker, took a $2.8 billion charge to cut its ties to the inhaled insulin drug Exubera, a sensational failure of a product once touted as a can't-miss blockbuster.
Virgin Atlantic is considering buying 10 longhaul aircraft worth about $3 billion to enter service around 2012.
HSBC Holdings wants to increase its stake in China's Bank of Communications over the next 12 months, BoCom's chairman said on Thursday.
Nike Inc sales in China are growing at over 50 percent annually and will reach $1 billion within a year, making the mainland its second largest market globally, Chief Executive Mark Parker said on Thursday.
Bank of America Corp, the second-largest U.S. bank, posted a much larger-than-expected 32 percent drop in quarterly profit on Thursday, hurt by mounting credit losses and dismal investment banking results.
Pfizer Inc said on Thursday third-quarter earnings fell sharply due to a $2.8 billion charge to end its involvement with the poorly selling inhaled insulin drug Exubera.
