Posts Tagged ‘giant’

Fannie Mae needs bigger lifeline

Losses widened at mortgage giant Fannie Mae in the third quarter, forcing the government-controlled firm to request another $7.8 billion from the Treasury Department. View full post on Business Stories

HSBC to “announce more than 10,000 job cuts next week”

LONDON: Global banking giant HSBC will announce next week plans to axe between 10,000 and 15,000 jobs in the coming year as part of a drastic cost-cutting drive, a report said Saturday. View full post on Business Stories

Banking giant HSBC eyes cost cutting; may move tech development to low-cost countries

Banking giant HSBC announced Wednesday that it plans to shave costs by up to $3.5 billion with a combination of strategies, including reducing its retail and wealth management divisions as well as trimming IT operations. View full post on Banking Stories

JP Morgan posts Q1 $5.6 billion profit

Banking giant JP Morgan posted a profit of $5.6 billion for the first three months of the year, a 67 percent increase from $3.3 billion for the same period last year, the company has announced. View full post on Banking Stories

ING halts executive bonuses until bailout repaid

A public outcry has caused the chief executive of the government bailed-out Dutch banking giant ING to announce he will forego his $1.78 million bonus this year and has asked other managers to do the same. View full post on Banking Stories

ECONOMY-ZIMBABWE: Consumers May be Happy But Workers Aren’t

South African retail giant Pick-‘n-Pay increased its stake from 25 to 49 percent in TM Supermarkets – Zimbabwe’s largest grocer – in October in a deal worth about 13 million dollars. But, while the champagne corks pop in the boardroom, employees are not upbeat. View full post on Business Stories

Potash Corporation Plans Buyback Of $2 Billion Stock

AHN News Staff Saskatoon, Saskatchewan, Canada (AHN) – Potash Corporation of Saskatchewan announced Tuesday it will buy back $2 billion worth of its stocks from shareholders. The announcement followed Ottawa’s decision to reject a $40 billion takeover of Potash by Australian mining giant BHP Billiton. With the repurchase and cancellation of millions of common shares, […]

Caterpillar in giant Bucyrus bid

The world’s biggest earth moving equipment maker, Caterpillar, will pay $7.6bn for mining engineers Bucyrus. View full post on Business Stories

Lower sales hit InBev’s profits

Brewing giant Anheuser-Busch InBev reports a fall in profits as its beer sales decline in North America and Western Europe. View full post on Business Stories

BP chief Bob Dudley: we’ll never quit America

The chief executive of BP has insisted the oil giant “will not be quitting America”, despite selling Gulf of Mexico fields it bought just eight months ago. View full post on UK Business Stories