SunTrust reportedly will close 60 branches after merger
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SunTrust Banks (NYSE: STI) will close about 60 branches after the completion of its acquisition of Memphis, Tenn.-based National Commerce Financial Corp.
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Connecticut's attorney general, Richard Blumenthal, said yesterday that Bank of America Corp. told him it would cut 100 jobs in Connecticut but add about the same number, marking the first time the bank has given any state an account of how many employees would be affected by its merger with FleetBoston Financial Corp.
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Circuit City Stores Inc.  on Wednesday said it would close 19 superstores, five regional offices and a distribution center by the end of the month, a day after the struggling electronics retailer received a &#36;3.25 billion takeover offer.
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Ailing supermarket chain Kwik Save closes 22 more stores across the country as it faces possible admiinstration.
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Japanese stocks end at seven-year highs, amid reports of a possible huge retail merger in the country.
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Struggling clothing retailer Wet Seal  Inc. WTSLA.O on Tuesday said it will close about 150  underperforming stores as part of a major restructuring plan  and layoff about 2,000 employees.
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ULSTER BANK CLOSES Ulster Bank is to close its Isle of Man operation a ' a move which will affect 11 of its staff.
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Bosses of a holiday firm which has gone into liquidation say 40,000 of their customers will be affected.
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SunTrust Banks Inc., the seventh- largest US bank, said it will restate results for the first and second quarters of this year, increasing profit, because the company incorrectly calculated loan losses.
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The Blue Bell, Pa.-based company said it will close some of its facilities and reduce its employee head count.
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SunTrust Banks Inc. STI.N, the No. 7  U.S. bank, on Wednesday said it fired three finance executives,  including its chief credit officer, after finding "numerous  errors" in how much to set aside for bad loans.
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SunTrust Banks Inc. (STI.N: Quote, Profile, Research) on Monday said it put two senior finance executives on paid leave, and expects to restate first- and second-quarter
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NEW YORK - Retailer Saks Inc. Friday said it will close its Saks Fifth Avenue upscale department stores in La Jolla and seven other locations and three of its lower-price Off 5th stores, affecting 700 jobs.
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Travel company Thomas Cook, which recently merged with rival MyTravel, will close 150 stores and six offices.
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Ver.di -- the giant services sector union -- said on Thursday that more than 61,000 employees of Deutsche Telekom could be affected by company plans to spin off some services activities, such as call-centres, many more than originally estimated.
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Bank of America began cutting jobs Wednesday but officials would not confirm how many or where. But a spokeswoman said cuts were occurring, and would eventually reach 12,500, the same number given in spring when the merger became final.
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Insiders says the company will file for Chapter 7 protection after laying off hundreds.