12 February, 2015 by The TZ Newswire Staff Comments Off on AIG fourth-quarter earnings miss estimates on low rates, refinancing
AIG fourth-quarter earnings miss estimates on low rates, refinancing
American International Group Inc (AIG.N) reported lower-than-expected fourth-quarter earnings on Thursday as low interest rates and refinancing expensive debt hurt the insurer’s results. Analysts on average had expected earnings of $1.05 per share in the fourth quarter, according to Thomson Reuters I/B/E/S.
12 February, 2015 by The TZ Newswire Staff Comments Off on Two JPMorgan executives tied to Asia hiring probe to exit: WSJ
Two JPMorgan executives tied to Asia hiring probe to exit: WSJ
Todd Marin, vice chairman of Asia Pacific investment banking, and Catherine Leung, vice chairwoman of Asia investment banking, are set to leave the bank in coming weeks, the Journal reported.
12 February, 2015 by The TZ Newswire Staff Comments Off on GM faces investor demand for slice of $25 billion cash hoard
GM faces investor demand for slice of $25 billion cash hoard
An investor group demand that General Motors Co give back more of its $25 billion cash hoard confronts Chief Executive Mary Barra with a challenge to her plans for building the company and rewarding shareholders. Barra and GM’s chief financial officer Chuck Stevens have signaled they will recommend returning more of the cash once the Detroit automaker knows how much it will have to spend to resolve legal issues related to the company’s recalls of millions of cars equipped with defective ignition switches. Several shareholders contacted by Reuters said they agree with former U.S.
12 February, 2015 by The TZ Newswire Staff Comments Off on Exclusive: Exxon wants five-year Beaumont pact to avert strikes during buildout – sources
Exclusive: Exxon wants five-year Beaumont pact to avert strikes during buildout – sources
Exxon Mobil Corp’s (XOM.N) push to persuade workers at its Beaumont, Texas refinery to sign a five-year contract, nearly twice as long as the last one, is part of an effort to avert labor stoppages during a possible expansion that could make it the largest such plant in the United States, sources familiar with refinery operations said. As Reuters reported in July, before crude prices plunged, Exxon is evaluating a multibillion-dollar expansion to lift the refinery’s processing capacity to between 500,000 and 800,000 barrels per day from 344,600 bpd now.
12 February, 2015 by The TZ Newswire Staff Comments Off on Exclusive: Shire moves to prepare Salix bid – sources
Exclusive: Shire moves to prepare Salix bid – sources
Shire is evaluating how to secure financing for a Salix bid, one of the sources said. The sources cautioned that Shire may still decide against a bid given the deal’s complexity. Salix is considering its options in the midst of a management shakeup and inventory issues, sources previously told Reuters. Valeant Pharmaceuticals International Inc (VRX.TO) has also been exploring an offer for Salix, the people added.
12 February, 2015 by The TZ Newswire Staff Comments Off on China to top US as biggest retail market by 2018
China to top US as biggest retail market by 2018
China will surpass the United States as the world’s largest retail market within the next three years, according to new research.