Cerberus taps Nardelli to run Chrysler
DETROIT/CHICAGO (Reuters) - Cerberus Capital Management on Monday named former Home Depot Inc. Chief Executive Robert Nardelli as chairman and chief executive of Chrysler LLC in an executive shake-up just after the private equity firm completed a deal to acquire the struggling No. 3 U.S. automaker.
American Home Mortgage files for bankruptcy
NEW YORK (Reuters) - American Home Mortgage Investment Corp., a large home lender catering to people considered good credit risks, completed its rapid descent on Monday when it filed for Chapter 11 bankruptcy protection.
Bear Stearns president resigns
NEW YORK (Reuters) - Bear Stearns Cos co-president and co-chief operating officer Warren Spector resigned on Sunday, becoming a casualty of a credit risk crisis at the investment bank.
ICI opens books to Akzo after raised $16.3 bln bid
LONDON (Reuters) - Dutch chemicals group Akzo Nobel has won access to Imperial Chemical Industries' books after raising its indicative bid for the British maker of Dulux paints to 8.0 billion pounds ($16.3 billion).
Futures up in jittery market, eyes on Fed
NEW YORK (Reuters) - Stock futures edged higher on Monday as fallout from the housing slump fanned speculation the Federal Reserve may adopt a policy statement that reassures investors worried about the economy's health.
Bear Stearns held talks to sell stake to China: WSJ
NEW YORK (Reuters) - Bear Stearns Cos. Inc. has looked at selling part of itself to China Citic Group or setting up a joint venture with the state-controlled company, The Wall Street Journal said on Monday, citing people familiar with the matter.
Wal-Mart, India's Bharti to announce joint venture
MUMBAI (Reuters) - Wal-Mart , the world's largest retailer, is set to announce a much-delayed deal with Bharti Enterprises for an Indian venture that will give it entry into a fast-growing but highly controlled market.
Fortis wins initial approval for ABN purchase
BRUSSELS (Reuters) - Belgian-Dutch financial services group Fortis clinched overwhelming initial support from shareholders on Monday for its part of a three-bank bid to buy ABN AMRO in the biggest ever bank takeover battle.
Credit, growth fears batter stocks, hit dollar
LONDON (Reuters) - Fears of a global credit squeeze and worries about U.S. economic strength swept across financial markets on Monday, shaking up stocks, knocking the dollar to a 15-year low and straining popular currency trades.
EMI says first-quarter revenue down 5.1 pct
LONDON (Reuters) - British music group EMI, which has agreed to a 2.4 billion-pound ($4.9 billion) takeover by private equity firm Terra Firma, said on Monday its first-quarter revenue fell 5.1 percent at constant currencies.
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