EU TELLS GOOGLE TO IMPROVE SEARCH SETTLEMENT
Google must improve its proposal to settle European Union
concerns over its search practices or face formal antitrust
charges, the EU's competition chief said.
TOYS 'R' US HOLDS LINE ON HOLIDAY HIRES
Toys "R" Us said that it would hire 45,000 seasonal workers this
year to help with the crucial holiday-shopping season, the same
number of hires it made last year during the period.
GERMAN PROSECUTORS CHARGE DEUTSCHE BANK EXECUTIVE
German prosecutors pressed charges against Deutsche Bank
co-Chief Executive Jürgen Fitschen and former board members over
alleged false court testimony in the bank's long-running legal
battle with the heirs of former media mogul Leo Kirch.
FTC CONSIDERS CHALLENGE TO FOOD MERGER
The Federal Trade Commission is considering a possible antitrust
lawsuit to block the planned merger of Sysco and US Foods,
concerned that combining them could threaten competition, according
to people familiar with the matter.
CHEVRON MULLS SALE OF REFINERY IN HAWAII
Chevron is considering the sale of its refinery in Hawaii and
has hired an investment bank to look for buyers, the company
confirmed late Monday.
OLD MUTUAL TO SELL US ASSET MANAGEMENT BUSINESS IN US IPO
Old Mutual said it is selling 18.3% of its U.S. institutional
asset management business, OM Asset Management, through an initial
public offering on the New York Stock Exchange.
RADIOSHACK SUPPLIER DECLINED TO HELP RESCUE EFFORT
RadioShack has tried--unsuccessfully so far--to convince a major
supplier to alter its terms as the struggling electronics retailer
works to avoid a bankruptcy filing.
PHILIPS TO SPLIT OPERATIONS
Philips said it would split into two new companies and prepare
its lighting business for a stand-alone future, marking a new phase
in the overhaul of the Dutch conglomerate.
TESCO'S NEW CFO TO JOIN EARLY
Tesco said that its new Chief Financial Officer Alan Stewart
would join immediately, several months earlier than planned, as the
retailer investigates a "serious issue" with its accounts that led
to a $409.7 million overstatement of its first-half profit
forecast.
BHP BILLITON-MITSUBISHI VENTURE TO CUT 700 JOBS
BHP Billiton and Mitsubishi will cut around 700 jobs from their
joint Australian coal-mining operations, in a continued effort to
cut costs as prices for the fuel stagnate near multiyear lows.
PAKISTAN PLANS TO SELL STAKE SALE IN OIL & GAS
DEVELOPMENT
Pakistan plans to raise up to $816 million from selling a stake
in state-owned Oil & Gas Development, in the country's biggest
share sale in eight years.