ZURICH (Reuters) – Swiss bank UBS’s (UBSN.VX) strategy to slash risky assets by almost half and pay its first dividend since the financial crisis has the full backing of Axel Weber, its newly-crowned Chief Executive Sergio Ermotti said in a Swiss newspaper on Sunday. “Axel Weber is 100 percent …
TOKYO (Reuters) – Employees at Japan’s Olympus Corp are feeling shock, anger and betrayal as they watch the public humiliation of a company to which many have devoted their working lives.
(Reuters) – When it comes to holiday shopping, more people are phoning it in, forcing retailers to embrace new ways to connect or else lose sales.
SEOUL (Reuters) – Secretive North Korea is expected to register the 1 millionth cellphone user on its new 3G network by the end of the year, barely four years after people were thrown into prison camps, or possibly even executed, for owning one.
HONG KONG (Reuters) – China Mobile Ltd, China’s largest mobile carrier, said on Monday that its total mobile subscribers increased to 638.89 million in October, including 45.33 million 3G subscribers.
SAN FRANCISCO (Reuters) – When Ray Lane took over as chairman of Hewlett-Packard Co a year ago, he was looking forward to working with longtime associate Leo Apotheker, who had just been appointed CEO to repair the damage done by the messy departure of Mark Hurd.
NEW YORK, N.Y. – Theodore J. Forstmann, a longtime Wall Street financier who was a major player during the wave of corporate takeovers in the 1980s, including the battle for RJR Nabisco in 1988, died Sunday at the age of 71.
WASHINGTON – On the brink of failure, members of a special deficit-cutting committee blamed each other Sunday for the intransigence that has gridlocked the panel in its quest to cut the deficit by at least $1.2 trillion over the coming decade.
TORONTO (Reuters) – Underperforming Canadian companies should brace for a wave of shareholder activism as investors try to wring value from portfolios that have been battered in a global market slump. In the last few weeks alone, three top companies – BlackBerry maker Research In Motion , grain handler Viterra Inc and Canadian Pacific Railway – have faced highly public investor agitation, once a rarity in Canada. In all three cases investors are unhappy with management strategies to reverse falling stock prices. …