Latest Corporate management News

Mexican president announces bailout for cash-strapped Pemex

Feb. 15, 2019 5:06 PM EST

MEXICO CITY (AP) — Mexican President Andres Manuel Lopez Obrador announced a $3.9 billion bailout for the country's cash-strapped, state-owned oil company Friday and promised it an additional $1.6 billion in revenue, making it a rescue package of up to $5.5 billion. Lopez Obrador has made rescuing...

The Latest: Colombia leader urges China to back Maduro foes

Feb. 14, 2019 11:36 PM EST

CARACAS, Venezuela (AP) — The latest on the political crisis in Venezuela (all times local): 8:25 p.m. The president of Colombia says China's role in Latin America would be stronger if the Asian country recognized Venezuelan opposition leader Juan Guaido as the country's interim president instead of...

Trump Org scraps plans for 2 hotel chains, blaming politics

Feb. 14, 2019 8:26 PM EST

NEW YORK (AP) — President Donald Trump's company is scrapping plans for two new hotel chains announced two years ago, casting blame in part on a hostile political environment. The Trump Organization said Thursday that it will no longer try to open hotels under its Scion and American Idea brands catering to...

Correction: AccuWeather-Sexual Bias Settlement story

Feb. 14, 2019 6:06 PM EST

STATE COLLEGE, Pa. (AP) — In the headline on a story Feb. 12 about AccuWeather, The Associated Press erroneously characterized a $290,000 payment by the company to resolve allegations by the U.S. Labor Department of sexual harassment of female employees. The company agreed to make the payment before any...

Venezuelan prosecutor to investigate Guaido appointments

Feb. 14, 2019 5:01 PM EST

CARACAS, Venezuela (AP) — Venezuela's chief prosecutor said Thursday he has launched an investigation into opposition leader Juan Guaido's appointment of a transitional board of directors for the state oil company. Attorney General Tarek William Saab said the appointments by Guaido and his National...

Federal utility picks exec of Canada power company as CEO

Feb. 14, 2019 3:23 PM EST

KNOXVILLE, Tenn. (AP) — The nation's largest public utility has picked the leader of one of Canada's largest power companies to head the $11 billion federal corporation. On Thursday, the Tennessee Valley Authority board announced the selection of Jeffrey Lyash as president and CEO effective in April. Lyash...

Too big to sell: Airbus bids pained adieu to superjumbo A380

Feb. 14, 2019 12:00 PM EST

TOULOUSE, France (AP) — To passengers, the A380 feels immediately different — spacious, smooth and oddly elegant for a jet so gargantuan. Yet to Airbus, it's become a burden so super-sized that the European manufacturer is ending its production for good. The A380 is simply too big to sell. With...

The Latest: Venezuela leader lambastes Trump-Duque meeting

Feb. 13, 2019 7:08 PM EST

CARACAS, Venezuela (AP) — The latest on the political crisis in Venezuela (all times local): 8:05 p.m. Venezuelan President Nicolas Maduro is calling a meeting between Donald Trump and Colombian leader Ivan Duque a "feast of hate against Venezuela." Trump and Duque met Wednesday in the Oval Office and said...

Vegas prosecutors say tech billionaire facing drug charges

Feb. 13, 2019 6:25 PM EST

LAS VEGAS (AP) — A billionaire California tech mogul who funds "Marsy's Law" crime victim rights campaigns nationwide was hit Wednesday with felony drug charges following his arrest last summer in a Las Vegas hotel suite with what police said were briefcases full of drugs. Broadcom Corp. co-founder Henry...

Guaido seeks to wrest control of Venezuela's oil company

Feb. 13, 2019 5:41 PM EST

CARACAS, Venezuela (AP) — Venezuela's opposition-controlled National Assembly appointed a transitional board of directors for the state oil company Wednesday, in a bid by congress chief Juan Guaido to gain control of an industry that is the economic backbone of the country. Guaido, who declared himself...