AbitibiBowater CEO gives up $1.7 million to cost cutting drive
October 31st, 2011
Hot Business Topics
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 […]
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 […]
General Electric Co. will build the largest solar factory in the U.S. near Denver.
The company, which had announced in April it would build the factory, said Thursday it had selected Aurora, Colo., a suburb east of Denver, for the location.
The factory will have an annual capacity of 400 megawatts, enough to supply electricity to about […]
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The ranks of the nation’s poor swelled to nearly 1 in 6 people last year, reaching a new high as long-term unemployment woes left millions of Americans struggling and out of work. The number of uninsured edged up to 49.9 million, the biggest in over two decades.
The Census Bureau’s annual report released Tuesday offers a […]
Pfizer Inc.’s just-approved drug Xalkori, the first new medicine in more than six years for deadly lung cancer, proves the value of precisely targeting rare diseases linked to gene variants, cancer specialists and Pfizer executives said Tuesday.
The drug was approved Friday in the U.S. along with a companion diagnostic test for just a small subset […]
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Companies ordered more aircraft and autos last month, driving up demand for long-lasting manufactured goods. But outside those categories, businesses invested less in durable goods.
The Commerce Department says orders for durable goods rose 4 percent in July, the biggest increase since March. Demand for autos and auto parts jumped 11.5 percent, the most in eight […]
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One-time tropical storm Harvey is bringing heavy rains to parts of Guatemala and eastern Mexico after weakening early Sunday to a tropical depression.
The U.S. National Hurricane Center in Miami said early Sunday that Harvey weakened to a depression and was about 75 miles (120 kilometers) west-northwest of Flores, Guatemala, moving west at 14 mph (22 […]
In the U.S., the planned takeover of NYSE Euronext by Germany’s Deutsche Boerse made waves because it means ceding the storied trading floor on 11 Wall Street to foreign control.
But in Europe, tradition has almost no role to play in reviews of the deal. Regulators are focused instead on how to handle a new company […]
Invoking the Arab Spring, the Palestinian president on Wednesday urged his people to take to the streets for massive rallies in support of his government’s bid to get the U.N. to recognize an independent Palestinian state.
The call by President Mahmoud Abbas for peaceful, “popular resistance” throughout the West Bank was likely to fuel Israeli concerns […]