AbitibiBowater CEO gives up $1.7 million to cost cutting drive
October 31st, 2011
Hot Business Topics
Defenses shielding the center of Thailand’s capital from the worst floods in nearly 60 years mostly held at critical peak tides Saturday, but areas along the city’s outskirts remained submerged along with much of the countryside.
Prime Minister Yingluck Shinawatra said the floodwaters have started to recede after killing almost 400 people, submerging entire towns across […]
Filed under: banks, interest rate by Forest
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Americans’ incomes have stagnated for three straight months. Yet they boosted their spending in September 0.6 percent _ three times the increase in August.
Under normal circumstances, that would be a troubling sign for the economy.
But a closer look at Friday’s report from the Commerce Department on September income and spending suggests another possibility: Many people […]
Filed under: legal, management by Forest
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European countries will force their largest banks to quickly increase their capital buffers as part of a grand strategy to solve the continent’s debt troubles, but leaders gathered at a crisis summit struggled to agree on the other key parts of the plan.
Strengthening Europe’s banks is key to finally getting a grip on the debt […]
Filed under: management, news by Forest
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A year and a half after beginning its pursuit of Macarthur Coal Ltd., St. Louis-based Peabody Energy Corp. has gained control of the Australian mining company.
Peabody, which teamed with one of Macarthur’s largest shareholders, steelmaker ArcelorMittal, to buy the coal producer, said Monday that they control almost 60 percent of the company and plan to […]
Filed under: money, technology by Forest
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Online coupon seller Groupon Inc. is discounting its expectations for its first stock offering.
The Chicago-based company, which offers consumers daily discounts targeted toward their city and preferences, now expects net proceeds of about $478.8 million from its initial public offering of 30 million shares. In June, it said it hoped to raise up to $750 […]
Ford’s credit rating was lifted to within one level of investment grade Friday, making it cheaper for the automaker to borrow, after it secured a new contract with workers.
Standard & Poor’s Ratings Services raised Ford two levels to “BB+” from “BB-,” saying the agreement will allow its North American operations to remain profitable.
Ford Motor Co. […]
Greece’s international creditors warn that a second rescue package tentatively agreed in July may not be enough to save the country from bankruptcy, but believe Athens should nevertheless get its next batch of bailout loans, according to a draft of a debt inspectors’ report obtained Thursday by The Associated Press.
Although the inspectors said Greece has […]
Filed under: Uncategorized, news by Forest
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Higher bank fees are here to stay.
The latest third-quarter earnings reports from this week confirm that banks are struggling to make money the old-fashioned way, by lending money to consumers and businesses. The main reason: interest rates are at historic lows. That makes it harder for banks to charge high rates on loans.
New rules have […]
Wal-Mart Stores Inc. said Monday the president of Walmart China is stepping down. A company spokesman said the move was unrelated to a Chinese government food safety case against several Wal-Mart stores.
Ed Chan, president of Walmart China since 2007 and also the unit’s chief executive, left for personal reasons, the company said.
The departure comes after […]