Entries tagged "divestitures"
American International Group Inc.'s Edward Liddy is starting to announce some of the many assets the insurer will sell off to quickly repay its $85 billion government loan. In a press release and Webcast Friday, Liddy said the company plans to retain its U.S. property and casualty and foreign general insurance businesses. For the most part, it seems everything else is up for grabs. See the list after the break:...
Struggling U.K. bank HBOS plc reported better-than-expected half-year results on Thursday, including a 56% decline in pretax profits, and said it was considering "selective asset disposals." It was the first time HBOS, the nation's biggest mortgage lender, had mentioned the possibility of disposals since the credit crisis began a year ago. ...
A five-year-old effort to press for changes at Citigroup Inc. by a major activist labor union just went into high gear. ...
General Motors Corp., which has seen its shares fall to 1950s-lows in recent weeks on fears of a slowing economy and due to its overreliance on gas-guzzling trucks and SUVs, got a boost Monday from a Wall Street Journal story reporting that the automaker is looking to cut thousands of white-collar jobs and could sell or axe some of its brands....
Eighteen months can seem like an eternity in the auto business. In fact, it was about 18 months ago when rumors first surfaced that Ford Motor Co. could sell its ailing Volvo unit as part of the U.S. automaker's recovery plan....
When Oppenheimer & Co. analyst Meredith Whitney talks about Citigroup Inc., investors listen. And why not? Whitney correctly predicted two months in advance that Citigroup would lower its dividend to preserve capital. Now, Bloomberg reports that Whitney predicted in a research report Monday that Citigroup's first-quarter earnings will lose $1.15 a share, 4 times higher than her original estimate of a loss of 28 cents per share....
