FTC Orders CB&I to Split, Divest Assets
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U.S. antitrust authorities on Thursday  ordered Chicago Bridge & Iron Co. NV CBI.N to split its  industrial division into two and divest one part of the unit,  triggering a 5 percent fall in the engineering and construction  company's shares.
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MBIA Inc , the world's largest bond insurer, slashed its dividend on Wednesday and said it would sell $1 billion of debt to preserve capital and the "triple-A" ratings it needs to operate normally in a mortgage market under siege.
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IntercontinentalExchange Inc.  on Thursday urged CBOT Holdings Inc.  shareholders and members to reject the proposed sale of the company to Chicago Mercantile Exchange Holdings Inc. .
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The Chicago Mercantile Exchange and the Chicago Board of Trade plan to consolidate their trading floors and electronic-trading platforms and to shift more trading business to computer screens.
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The Securities and Exchange Commission yesterday ordered mutual funds to stop paying higher commissions to brokers who promote the companies&#39; funds. The agency also required portfolio managers to reveal investments in funds they ...
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The Federal Trade Committee has filed a complaint in federal court asking that two Internet advertising and software firms be shut down. The FTC made the filing last Thursday and will hold a press conference on the matter tomorrow.
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Bank of America Corp. plans to lay off hundreds of tellers and other branch employees at Fleet banks today, asking them to leave the building immediately as part of the process, according to documents obtained by the Globe and Fleet branch managers told of the decision.
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With a major trading-fraud case finally settled yesterday, the Boston-based mutual fund operations of Bank of America are at work on a major restructuring over the coming months that will result in a smaller, more coherent lineup of funds, officials said.
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Charles Schwab Corp. SCH.N, the  largest U.S. discount brokerage, has halved the level of assets  that clients need to avoid paying some fees.
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Marsh &amp; McLennan is set to announce thousands of job cuts at its troubled insurance brokerage arm. The move follows the decision to scrap incentive commissions
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IAC/InterActiveCorp has announced plans to split into two publicly traded companies, keeping some operations under the IAC name and placing others under the Expedia brand.
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IntercontinentalExchange Inc.   on Thursday urged CBOT Holdings Inc.  shareholders and  members to reject the proposed sale of the company to Chicago  Mercantile Exchange Holdings Inc. .
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The Chicago Board Options Exchange said Tuesday its directors approved steps to reduce its financial ties to two other exchanges in town.
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Rank Group is working on plans to split off its Deluxe international film and DVD business to focus on bingo, casinos and Hard Rock cafes.
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U.S. Securities and Exchange Commission (SEC) reporting rules that govern listed companies are too much for Creative Technology, which has renewed plans to delist its shares from the Nasdaq stock exchange.
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(InfoWorld) - U.S. Securities and Exchange Commission (SEC) reporting rules that govern listed companies are too much for Creative Technology, which has renewed plans to delist its shares from the Nasdaq stock exchange. "The administrative overhead and cost of the evolving and increasingly burdensome U.S. reporting obligations has become significant," the company said Thursday, announcing plans to end its U.S. listing on Aug. 1. Less than 10 percent of Creative's trading volume takes place on Nasdaq, it said. "Creative believes the costs of maintaining its Nasdaq listing and continuing with its U.S. reporting obligations are no longer in the best interest of the company and its shareholders," it said. Creative's shares will continue to be traded on the Singapore stock exchange. Creative, which makes MP3 players and PC sound boards, has been down this road before. In 2003, Creative announced similar plans, saying the volume of shares traded in the U.S. was low and most analysts that cover the company are based in Singapore, where its headquarters are located. The delisting plans were announced then also held out the possibility of reducing the company's administrative overhead and cutting costs. "We believe it is in our shareholders' best interest that we initiate steps that can facilitate the elimination of our SEC reporting obligations and our intended delisting from Nasdaq," the company said at that time. The 2003 delisting plans were never realized. Whether or not Creative proceeds with its delisting plans this time remains to be seen. The company announced plans to file a formal delisting notice with the SEC on July 23, but reserved the right to delay or withdraw the filing for any reason. Once the filing has been submitted, Creative's shares can be delisted within 10 days. Assuming Creative goes through with its delisting plans, the company must continue reporting financial results under SEC rules for at least one year after its delisting.
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_ State Attorney General Eliot Spitzer said he wand to end his office&#39;s investigations of investment banks, mutual funds and insurance companies and hand them over to federal regulators.