Posted by Mark J. Miller on October 16, 2012 11:59 AM
Vikram Pandit shocked Wall Street (Exhibit A: the Wall Street Journal homepage) when he abruptly resigned as CEO of Citibank Tuesday after clashing with the board and prompted his right hand, COO John Havens, to exit with him. Pandit's corner office won't remain empty for long.
Sliding right in following his ouster was Mike Corbat, who had been running Citi’s international operations of Europe, Middle East and Africa for less than a year and was clearly being groomed for the role. The WSJ calls Corbat, a Citi veteran and its former head of investment banking, the company's "Mr. Fix-It," writing that Pandit often used Corbat as a repairman of sorts, and his history at the bank backs up that notion.Continue reading...
Posted by Dale Buss on October 16, 2012 09:01 AM
Citigroup CEO Vikram Pandit and COO John Havens quit unexpectedly; board elevates EMEA CEO Mike Corbat to top spot.
Yahoo CEO Marissa Mayer, back from two-week maternity leave, poaches new COO from her previous employer Google.
RIM sees its once-iconic BlackBerry slip into black-sheep territory.
CBS extends CEO Les Moonves for two more years to 2017.
Chrysler opens availability of natural-gas-powered Ram pickup to retail sales.
Facebook opens UK engineering hub to focus on mobile.
Foxconn admits to breaching child labor laws.Continue reading...
Posted by Dale Buss on August 30, 2012 08:54 AM
AT&T unveils flagship store on Michigan Avenue in Chicago.
Amazon challenges Netflix with movie-streaming service.
Barclays names one of its own as new CEO.
Carrefour narrows loss.
Caterpillar says China growth may recover this year on government stimulus.
Chrysler sees sales of new Dodge Dart drift because of emphasis on manual transmissions.
Citigroup to settle suit connected to financial crisis for $590 million.
Daikin of Japan buys Goodman Global in U.S. air-conditioning market.
Facebook is cleared to buy Instagram by California authorities. Continue reading...
follow the money
Posted by Mark J. Miller on May 7, 2012 04:33 PM
Barclays got out of the branch-banking business in the United States in the early 1990s, but now the British bank is making a digital run at the U.S. by wooing Americans to its new online banking service.
The Wall Street Journal reports that Barclays, which will have its name on the side of the new Brooklyn Nets arena when it opens later this year to basketball (and Barbra Streisand) fans, is looking to “diversify funding for its growing credit-card operations” in the U.S. The British bank, as Marketwatch notes, today went live in the U.S. with a high-yield savings account and certificates of deposit through its Barclays Bank Delaware subsidiary.Continue reading...
Posted by Shirley Brady on April 25, 2012 09:01 AM
Apple profit rises 94% on global iPhone demand, while iPhone also boosts Sprint.
Benetton founder hands reins to son.
bmi airline future hangs in the balance.
BMW stretches 3-Series for China.
Burger King makes commitment to animal welfare standards, expands Whopper Bar in Canada.
Citigroup takes over ATP World Tour tennis sponsorship from Legg Mason.
Facebook may be developing a smartphone with HTC.
Ford faces UK strike action.Continue reading...
Posted by Dale Buss on April 19, 2012 09:01 AM
Acura is under fire for casting of Super Bowl commercial starring Jerry Seinfeld.
American Airlines parent AMR outlines non-union cutbacks.
California Pizza Kitchen plans new prototype and brand renewal.
Citigroup faces executive-pay dilemma after shareholder vote.
Dick Clark's career celebrated as entertainment legend dies at 82.
eBay continues comeback, citing PayPal.Continue reading...
Posted by Dale Buss on April 16, 2012 09:01 AM
Amazon looms as nemesis of book publishers, as children's book publisher pulls its titles.
Apple denies designer Philippe Starck's claim of 'revolutionary' device.
Arby's makes social media blunder over Rush Limbaugh advertising.
Archie comics legal battle heats up.
Audi may select its North American plant site this week, with Mexico the favorite, Automotive News says.
CBS emphasizes hard news to regain an edge.
Citigroup reports better-than-expected revenue growth.Continue reading...
Posted by Abe Sauer on February 9, 2012 01:14 PM
Apple, as ever, is all the talk in China:
• Company loses iPad trademark in China and faces $1.6 billion lawsuit, prompting question: "Why Haven’t the Apple Stores Been Shut Down?"
• Labor woes continue with The Economist weighing in on the "but these jobs are better than farming rice" argument.
• Is this a 7th generation iPod nano? With a camera?
• iPhone woes continue as Apple admits China Mobile SIM cards and iPhone 4S are not speaking the same language.
• Siri gets Rosetta Stone: Chinese.
But it's not all Apple in China:Continue reading...