DETROIT/WASHINGTON (Reuters) – Chrysler LLC filed for bankruptcy on Thursday and announced an industry-changing deal with Fiat, after being pummeled by sliding auto sales and unable to reach agreement on restructuring its debt.
SEOUL, May 1 (Reuters) – General Motors Corp will
talk to the Korea Development Bank (KDB) about selling a stake
in GM Daewoo, if that would help the South Korean carmaking
unit in the long term, a top executive said on Friday.
May 1 (Reuters) – Citigroup Inc executives are using
the sale of its Japanese retail brokerage Nikko Cordial to ease
demands from the U.S. stress tests on banks, arguing the sale
of non-core assets such as Nikko would strengthen its balance
sheet, the Financial Times reported, citing people close to the
matter.
* Sale approval hearing scheduled for May 4
(Adds court approval hearing date, Bruno’s CRO comment)
SAN FRANCISCO, April 30 (Reuters) – Citadel Investment
Group is expanding into investment banking and has hired three
former Merrill Lynch executives to anchor the new operation, a
source with knowledge of the matter said on Thursday.
NEW YORK, April 30 (Reuters) – Bank of America Corp’s
board is not planning to remove Chief Executive Kenneth
Lewis after he was ousted as chairman under shareholder
pressure, the Wall Street Journal reported on its website on
Thursday.
Elected to replace the embattled Kenneth D. Lewis as the chairman of Bank of America’s board, Walter Massey brings to the table credibility on Wall Street. On that, he is distinguished from Lewis.
Banks pressed for it, and investor advocates pushed back as fiercely. But in the end, the relaxation of mark-to-market accounting rules appeared to have little impact on …
Huntington chief’s stock purchase a vote of confidence; Bank of America shareholder attempts to take the focus off of Ken Lewis at Wednesday’s meeting.
A former member of JPMorgan Chase & Co.’s executive committee has filed a lawsuit claiming the company owes him a bonus payment.
