The striking workers at General Motors’ Opel plant, Antwerp are to decide through a referendum on Thursday whether to agree to an offer to terminate their strike. Workers stopped production after GM Europe, the subsidiary of the US based GM had announced not to construct the next-generation model of Astra, presently the top car of [...]
Home Box Office (HBO), the Time Warner owned cable network announced that the chairperson and chief executive of HBO, Chris Albrecht, had agreed to resign at the company’s request, following his arrest on Sunday for allegedly assaulting a girlfriend in a Las Vegas. Mr. Albrecht confirmed his departure at Time Warner’s request, and said With [...]
Northwest Airlines, the Eagan based carrier, stated that majority of its creditors have approved its reorganization plan, another key step in its plan to emerge from bankruptcy protection next month. Airlines management overwhelmed with the creditor support based on an unofficial vote tally showed that almost 97 percent of creditors who voted for the plan [...]
Virgin Media lost nearly 47,000 customers in the first three months of this year and expects to lose more as its high-profile row with BSkyB. Sky and Virgin are involved in a dispute over how much the cable group should pay to carry Sky’s basic channels, with each side blaming the other for a breakdown [...]
Two Fidelity brokerage units have reached an agreement to pay $400,000 in penalty to settle regulatory complaints condemning them of producing ambiguous sales materials for two old Fidelity mutual funds that were sold almost exclusively to military consumers. The agreement, announced yesterday, was pronounced by Fidelity Investments Institutional Services Company, based in Smithfield, and the [...]
Morgan Stanley, the world’s second- largest securities firm, has agreed to pay $8 million to settle US Securities and Exchange Commission allegations that it defrauded retail investors by failing to give them the best prices possible on trades. The SEC had earlier accused Morgan Stanley to be failed to provide the best execution to more [...]
Microsoft has recently announced that it would acquire a small equity stake in CareerBuilder, a popular job recruitment site operated by three big media companies. The deal will strengthen an existing partnership in a lucrative category of online classified advertising. According to reports, Microsoft has paid an undisclosed amount to buy a 4 per cent [...]
ABN Amro would not submit to the Dutch Court decision blocking the sale of its US arm LaSalle to Bank of America. Yesterday, the Dutch banking giant said that it planned to challenge the court’s decision to freeze the sale of LaSalle bank for $21 billion (15.5 billion euros.) The Amsterdam Superior Court’s decision had [...]
TXU Corp., the largest Texas power producer, quarterly net loss dip to $497 million as it recorded costs related to eight proposed plants the company canceled. The company lost $1.09 a share, compared with net income of $576 million, or $1.22, a year earlier. Quarterly revenue tumbled 28 percent to $1.67 billion from $2.30 billion [...]
Media tycoon Rupert Murdoch has declined to attach more to his $5 billion offer to buy Dow Jones (DJ). It was a rude shock to the investors who had hoped to see Murdoch’ News Corp. (NWS) inserting extra money to the bid. Against all wishes, the share prices of Wall Street Journal, the parent company [...]
