Companies News

FRANKFURT (Reuters) - ThyssenKrupp's Steel Americas business, which the company may put up for sale, will continue posting operating losses until at least next year, Chief Executive Heinrich Hiesinger told a German newspaper. "It would be unrealistic to expect operating figures in the black in America next year following …

TOKYO (Reuters) - Japan's securities regulator will seek a fine against a fund management arm of Sumitomo Mitsui Trust Holdings for insider trading for the second time and believes an employee of broker Nomura Holdings was again the source of the leak, two people with direct knowledge of the matter said. ...

FRANKFURT (Reuters) - European aerospace and defence company EADS would have to rethink its cost structure if the euro zone collapsed and Europe returned to a system of national currencies, outgoing Chief Executive Louis Gallois said. "We want to keep the euro because we work in Germany, France and Spain. Our industrial …

ZURICH (Reuters) - UBS AG could see up to 10 percent of its European assets of 300 billion Swiss francs (199.52 billion pounds) moved out due to pressure to clamp down on untaxed accounts, the head of the wealth management business was quoted as saying on Saturday. "We have been losing assets in Europe for many quarters, …

TOKYO (Reuters) - Japanese chipmaker Renesas Electronics Corp plans to sell off loss-making operations and cut its payroll by at least 12,000, a source close to the matter told Reuters on Saturday, as the company battles high costs and nimbler foreign rivals. Sources also confirmed that Renesas, the world's largest maker …

MADRID (Reuters) - Spain's Bankia said on Saturday that it could sell its stakes in Spanish companies in future, a day after it asked the state for a 19 billion euro ($23.77 billion) bailout, the biggest ever bank rescue in the country. Bankia and its parent group BFA have holdings in big Spanish companies, including in …

MADRID (Reuters) - Bankia's chairman said on Saturday that a merger of the troubled bank with its parent group BFA was not on the table for now. The two entities asked for a 19 billion euro ($23.77 billion) state bailout on Friday to cope with possible real estate losses and writedowns on other loans. "It's not on the table …

MADRID (Reuters) - Bankia's chairman Jose Ignacio Goirigoizarri said on Saturday he did not envisage converting about 4 billion euros ($5.00 billion)in preference shares held by investors into capital. "We don't envisage that the solution around preference shares will be to convert them into capital, but when we have a …

TOKYO (Reuters) - Struggling Japanese chipmaker Renesas Electronics Corp is planning to slash as many as 14,000 jobs and sell a major semiconductor factory in Japan to Taiwan Semiconductor Manufacturing Co , the Nikkei newspaper reported. Renesas, the world's largest maker of microcontroller chips for cars, is also considering …

(Reuters) - The board of JPMorgan Chase & Co is expected to make changes to its risk-policy committee after the bank's trading losses of more than $2 billion, The Wall Street Journal reported on Friday, citing anonymous sources. The board is expected to add either Timothy Flynn or James Bell to the committee, the Journal …

MADRID (Reuters) - Spain's Bankia said on Saturday that it could sell its stakes in Spanish companies in future, a day after it asked the state for a 19 billion euro ($23.77 billion) bailout, the biggest ever bank rescue in the country. Bankia and its parent group BFA have holdings in big Spanish companies, including in …

WARSAW (Reuters) - Polish gas monopoly PGNiG wants to invest about 50 billion zlotys ($14.31 billion) over the next ten years, mainly on a search for new gas and oil sources, the daily Parkiet said on Saturday. The daily, referring to comments by the company's deputy chief executive, Slawomir Hinc, also said that PGNiG, …

TOKYO (Reuters) - Struggling Japanese chipmaker Renesas Electronics Corp is planning to slash as many as 14,000 jobs and sell a major semiconductor factory in Japan to Taiwan Semiconductor Manufacturing Co , the Nikkei newspaper reported. Renesas, the world's largest maker of microcontroller chips for cars, is also considering …

WASHINGTON (Reuters) - DigitalGlobe Inc and GeoEye Inc on Friday welcomed a decision by the Senate Armed Services Committee to authorize continued funding for commercial imagery purchases, a move that sent the two companies' shares sharply higher. Shares of DigitalGlobe rose as much as 10 pct while those of GeoEye jumped …

WASHINGTON (Reuters) - U.S. securities regulators are looking into whether Nasdaq violated any technical exchange rules when it botched Facebook Inc's market debut last week, according to people familiar with the matter. The review of potential technical violations is part of the Securities and Exchange Commission's broader …

MONACO (Reuters) - Dany Bahar, the chief executive with ambitious plans for British-based sports car maker Lotus in Formula One and U.S.-based IndyCars, has been suspended by the new Malaysian owners of Group Lotus. Group Lotus said in a statement on Friday that the move followed an operational review with Bahar temporarily …

MONACO (Reuters) - Dany Bahar, the chief executive with ambitious plans for British-based sports car maker Lotus in Formula One and U.S.-based IndyCars, has been suspended by the new Malaysian owners of Group Lotus.

CHICAGO (Reuters) - LCH.Clearnet, the world's biggest clearer of interest-rate swaps, did not make an initial list of global clearinghouses labelled "systemically important" by a council of U.S. regulators earlier this week, three sources familiar with the decision said. LCH.Clearnet, a London-based firm set to be bought …

NEW YORK (Reuters) - Merrill Lynch's battle to void a $10 million (6.38 million pounds) arbitration ruling suffered a setback this week after a new court filing raised questions about its claims that a panel member had not disclosed her potential conflicts. The brokerage giant, which Bank of America agreed to acquire in …

(Reuters) - The ripple effects of Facebook Inc's botched IPO appear to already be hitting the market for initial public offerings as two companies this week pushed back their market debuts. PC hardware components maker Corsair Components Inc postponed its $78 million (49.8 million pounds) IPO citing market conditions, as …

(Reuters) - JPMorgan Chase & Co won preliminary court approval of its agreement to pay $110 million (70.2 million pounds) to settle nationwide litigation accusing it of charging excessive overdraft fees. The settlement would resolve lawsuits brought on behalf of more than 1 million people over the fees, which are assessed …

(Reuters) - Four former executives at Berkshire Hathaway Inc's General Re Corp and one at American International Group Inc are in talks to settle a long-running criminal case accusing them of engineering a reinsurance transaction that fraudulently boosted AIG's loss reserves. The talks were disclosed in a Thursday court …

NEW YORK/SAN FRANCISCO (Reuters) - Dell Inc is expected to reach an agreement to buy network security software maker Quest Software Inc as soon as this weekend after a previous deal fell apart, several people familiar with the matter said. Dell is planning to offer between $23 (14.6 pounds) and $26 per share to buy the …

(Reuters) - Central banks and companies risk making a grave error if they do not brace for a possible Greek exit from the euro zone, Belgium's foreign minister said on Friday, rattling markets already alarmed by Spain's deteriorating finances. Greek elections are scheduled for June 17 and could hasten the country's departure …

BOSTON (Reuters) - Just hours before Facebook Inc made its stock market debut last Friday, Seuk Kim put in a limit order $4 above the initial public offering price. "I thought it was going to have that first day pop," Kim said. "I didn't think anyone would get in at the $38 (24.25 pounds) IPO price." Limit orders give investors …

HOUSTON (Reuters) - Former Enron Corp Chief Executive Jeffrey Skilling is reviving his quest for a new trial based on evidence his legal team received from prosecutors long after he was convicted of 19 counts of conspiracy, securities fraud, insider trading and lying to auditors. U.S. District Judge Sim Lake in Houston, …

MADRID (Reuters) - Financial troubles at a big Spanish bank and one of the country's richest regions, Catalonia, piled on problems on Friday for the Madrid government and for investors who question whether it can pay its debts without help from euro zone allies. Bankia SA, Spain's fourth biggest bank and newly nationalised, …

NEW YORK (Reuters) - Just when brokers thought Mom-and-Pop investors were getting excited about the stock market, along came Facebook. The 17 percent plunge in Facebook's shares since its ballyhooed debut last Friday, coupled with Nasdaq's mishandling of opening day trading, is spooking the very investors who had seemed …