Kraft Sees Splitup Oct. 1; 2nd-Quarter Net Up 5.4%
Kraft Foods Inc. (KFT) is headed for splitsville a bit sooner than expected, with attention quickly shifting from its final quarterly earnings report as a whole company to the food giant's prospects as two stand-alone companies .
Sao Paulo Government Offers GM Tax Breaks to Keep Jobs
The government of the state of Sao Paulo on Thursday offered to give tax breaks to General Motors (GM) in order to ensure that the auto maker boosts investment in the state and maintains jobs at its Sao Jose dos Campos factory.
Western Union Receives Second Subpoena in California Probe
Federal investigators have widened their probe of Western Union Co. (WU) in an ongoing money-laundering investigation, the company said Thursday.
Bank of America Received Subpoenas Related to Libor Probe
Bank of America Corp. (BAC) disclosed that it received subpoenas from the U.S. government, part of an inquiry related to how U.S. and European banks set Libor interest rates.
Commonwealth Bank Names Matt Comyn Retail Banking Group Executive
Commonwealth Bank of Australia (CBA.AU) Friday named Matt Comyn as group executive of retail-banking services, succeeding Ross McEwan, who joins Royal Bank of Scotland as head of its retail-banking division.
Brazil ANP Chief: Transocean Operation Suspension Unjustified
The head of Brazil's national petroleum agency, ANP, said Thursday the suspension of operations by Transocean Ltd. (RIG) in the country wasn't justified.
Kraft 2Q Profit Beats, Revenue Misses
Kraft posted higher-than-expected second-quarter profit but its revenue missed estimates and the company left its full-year targets unchanged.
American Express Says CFPB May Take Action Against Two Bank Subsidiaries
American Express Co. (AXP), the largest U.S. credit-card lender by spending, said Thursday the U.S. government's consumer-finance watchdog may take action against both of the credit-card lender's U.S. banking subsidiaries.
Bank of America, Fannie Mae in Talks on Mortgage Dispute -Reuters
Talks between Fannie Mae (FNMA) and Bank of America Corp. (BAC) concerning a dispute over bad mortgages have been "more constructive recently," Reuters reported Thursday, citing sources familiar with the matter.
RSA Buys Two Argentine Insurance Companies
The U.K.'s RSA Insurance Group PLC (RSAIF, RSA.LN) said Thursday it has acquired two Argentine insurers for an undisclosed amount.