The $58-billion conversion, announced in February when Citigroup shares were trading near USD 1, was supposed to happen in April but was slowed by negotiations between the bank and federal officials over details of the complicated transaction, the report noted. The deal is aimed at reducing worries about Citigroup's capital levels.
Quoting a person familiar with the matter the daily said, General Motors would provide more than $2.5 billion of the $3.6 billion necessary for the private equity firm to gain control of Delphi. General Motors filed for bankruptcy protection on Monday.
The Wall Street Journal, quoting people familiar with Apple, stated that "after months of uncertainty about Steve Jobs's health, the Apple Inc chief executive appears on track to return from medical leave this month."
Ford Motors, one of the big three in the US auto industry, is planning to increase its market share at a time when its rivals -- GM and Chrysler -- are tackling bankruptcy and restructuring procedures.
The facsimile edition of The Wall Street Journal and the Indian edition of Forbes, the magazine famous for its global billionaires' list, will be launched next week. A look at what to expect.
The United States and Pakistan would hold their third ministerial-level Strategic Dialogue in Washington, DC, next week, against the backdrop of America pushing Islamabad to act firmly against terrorist safe havens and step up relief efforts in the wake of the devastating floods in the country
In the past 10 years, 141,000 women or 2.6 per cent of female workers in finance left the industry.
Technology giant IBM is close to a deal to buy Sun Microsystems for about $7 billion, says a media report.
A deal could be announced as early as Monday, The Wall Street Journal reported, citing people familiar with the matter.
The poll, which has margin of error of 3.1 percentage points, found that just 19 per cent of Americans now say that nation is headed in the right direction, while 68 per cent say things in the US 'are on the wrong track.'
Burger King Holdings Inc is in talks with private-equity firms like 3i Group Plc over a possible sale of the second-largest hamburger chain, says a media report.
Beleaguered investment bank Merrill Lynch has paid more than $10 million in cash and stock to its eleven top executives last year, says a media report.
Top Indian information technology companies are recruiting American executives on salaries and bonuses very generous even by American standards, in order to expand in the American market as also to improve efficiency at home, reports said.
The possession of nuclear weapons by India and Pakistan and their ability to escape international punishment because of their strategic value to the US and its allies have weakened the taboo against obtaining nuclear arms, the WSJ reported.
Envelopes containing white powder were received by top editors and executives of the Wall Street Journal, triggering a scare and rekindling the memories of the anthrax mailed in 2001. But after tests showed that it was apparently flour or food based, the powder was declared harmless.
The Sri Lankan army's hopes to crush Tamil Tigers and end Asia's longest running civil war are still not around the corner, a media report said. 'Peace still will not be easy or, despite recent good news, immediate. The Tigers may still be able to carry out some terror attacks, though they no longer pose a wide-scale threat. And Colombo faces questions about its commitment to a permanent political settlement,' a Wall Street Journal report said.
While the ministry sources clarified that the overall policy for fax editions is still under review, this proposal has been given approval on a case-to-case basis in FIPB's meeting held last week. The proposal was turned down twice earlier pending the review but the company had applied to FIPB under deferred proposal agenda in its meeting on January 9.
United States President-elect Barack Obama plans to issue an executive order, within his first week in office, to close down the infamous American detention centre at Guantanamo Bay, a media report said on Tuesday. The order, however, would not immediately close the prison, the Wall Street Journal said, citing two people with knowledge of the plan. It is the first step in what is expected to be a long process of determining what to do with the approximately 250 prisoners.
The size of the job cuts could not be ascertained.
According to the Wall Street Journal, one of the characteristics of the long market downturns in the 1930s and the 1970s has returned and rank-and-file investors (retail investors) are losing faith in stocks and have pulled out record sums from equity schemes of mutual funds.
The stress of financial turmoil is literally showing on the faces of Americans, with many unemployed individuals growing beard in the country.
Arun Sarin, who recently retired as the Vodafone group CEO, is being considered for the post of chief executive of internet major Yahoo! Inc, the Wall Street Journal says.
Days after Citi's global CEO Vikram Pandit said the group planned to reduce head-count by 52,000, there are reports that the financial major will lay off over 1,000 employees in India. The financial services company has around 10,000 employees in India.
Amjad Farooqi was wanted in connection with an assassination attempt on president General Pervez Musharraf last December, and was indicted in the murder of Wall Street Journal reporter Daniel Pearl.
Favouring 'aggressive action' to boost the shaky American economy, House Speaker Nancy Pelosi has proposed a two-stage effort with a $60-100 billion stimulus package this month followed early next year by a 'permanent tax cut'.
One of the big arrests in Pakistan is that of an Egyptian national who was a member of an Al Qaeda cell known as Islambouli group.
Faced with criticism over offshoring jobs to India and other developing countries, IBM Corp has adopted new internal transfer policies aimed at filling vacant positions in the company with workers who would otherwise get a pink slip.\n\n\n\n
'India has never been a threat to Pakistan. I, for one, and our democratic government is not scared of Indian influence abroad,' Zardari told Wall Street Journal in an interview.
"Americans received a sobering reminder on Saturday of the threat that political violence poses to our democracy," The New York Times said.
A few years ago, reports from Hollywood indicated that Oscar-winning actor Halle Berry was to play the Indian-American activist-lawyer Vanita Gupta, who won the 2004 India Abroad Publisher's Special Award, in a film called Tulia.
The US Department of Treasury plans to sell its 27 per cent stake in Citigroup Inc, says a media report. The stake selling is part of a programme of regularly scheduled sales.
The selection of Sarah Palin as a running mate has given a major impetus to the campaign of Republican presidential hopeful John McCain, according to the latest poll.The poll, released on Wednesday by the Wall Street Journal and NBC, shows that the Palin factor has lifted enthusiasm among McCain's supporters.It shows that a majority of voters are comfortable with the idea of the first term Alaska governor as vice-president.
The approval, first in December 2002 and later in a January 8, 2003 memo, allowed for inflicting 'fear of dogs', and 'mild non-injurious physical contact', The Wall Street Journal said.
Outsourcing of information technology jobs, which is likely to continue to countries like India, has had an unexpected resul
Omar Sheikh's lawyer Rai Bashir said he might use extracts from the book to seek a fresh hearing and trial for his client, a British citizen of Pakistani origin.
GM Chairman and Chief Executive Rick Wagoner is scheduled to outline the plan to employees, the Wall Street Journal reported. "This is real, hard stuff," one person briefed on the plan told the paper. "It not only assures our survival, but will make us a radically leaner, more focused company with much lower fixed cost."
The overall freedom to start, operate, and close a business remains restricted by India's regulatory environment.
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