GE to cut 60 pct of Japan consumer credit branches
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General Electric Co.'s  consumer finance arm plans to close 60 percent of its personal loan branches in Japan and shed up to 400 employees amid an industrywide slump prompted by tighter regulation.
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The San Diego-based maker of data storage products said in a statement that it plans to cut 145 regular and temporary personnel worldwide, and will incur restructuring charges of between $5 million and $7 million.
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Citigroup  plans to list its shares  in Tokyo and boost the number of its branches in Japan by 40  percent as the U.S. financial group looks to move beyond a  niche role in the world&#39;s second-largest economy.
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Bank of England announces second quarter-point cut in the past three months
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Tokyo-based Shinsei Bank is wrapping up an agreement to buy a consumer credit company from UFJ Holdings, a Japanese banking group that is set to merge with another "Big Four" Japanese financial group.
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Electronics retailer trims guidance as Americans curb spending.
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Wal-Mart Stores Inc&#39;s  Japanese  unit, Seiyu Ltd (8268.T), boosted its annual loss forecast by  76 percent due to a charge to cut about 7 percent of its work  force as it battles sluggish sales.
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Bank of America Corp  said on Tuesday it would eliminate 650 corporate and investment banking jobs and sell its equity prime brokerage business, as the second-largest U.S. bank retrenches in the face of difficult credit market conditions.
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LCC International, which provides consulting and network management to the wireless industry, said yesterday that it eliminated about 60 positions worldwide and consolidated its facilities in Britain.
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NEW DELHI, NOV 8: The back office unit of General Electric Co, which sold a 60 per cent stake to two global equity firms, said on Monday it had no market listing plans.
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The Nikkei average dipped 0.37 percent by  the close on Wednesday as some major banks, including UFJ  Holdings Inc., reversed gains made after Japan's state  turnaround body approved a restructuring plan for troubled  retailer Daiei Inc.
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Global Crossing plans to eliminate 600 jobs, roughly 15 percent of its workforce, by March 2005 as part of a restructuring plan. The company needs an additional $40 million in financing to fund
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Japan's financial regulator may suspend  or even end some private banking operations at the Japanese  commercial banking unit of U.S. financial services firm  Citigroup Inc. due to lost customer data and questionable  securities transactions, local media said on Thursday.
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General Electric Co.&#39;s  energy  unit will pay $603 million for a stake in Regency Energy  Partners LP , an owner of natural gas pipelines and  storage equipment, The Wall Street Journal Online reported on  Tuesday.
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UFJ Holdings, a merger target of two major Japanese banks, slashed workers&#39; paychecks Friday and sharply lowered its earnings outlook for the current fiscal half-year as it struggles to cut costs and ease a ballooning debt burden.
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General Electric (GE), the worldâs largest conglomerate, has divested a majority stake (60 per cent) in its back office arm - GE Capital International Services (GECIS) â-or $480 million to two private equity firms, General Atlantic Partners and Oak
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UFJ Holdings Inc., Japan&#39;s fourth- biggest lender, said it hasn&#39;t finalized its earnings outlook. UFJ plans to eliminate more than 700 billion yen ($6.