Latest Corporate management News

J.C. Penney CEO Ellison departs for Lowe's

May. 22, 2018 11:10 AM EDT

NEW YORK (AP) — J.C. Penney CEO Marvin Ellison, a former Home Depot executive, is leaving the department store chain after less than four years to become the top executive at Lowe's. The announcement Tuesday, just days after J.C. Penney released disappointing results, sent its shares down more than 3...

JC Penney's CEO Ellison departs for Lowe's, shares plunge

May. 22, 2018 9:23 AM EDT

MOORESVILLE, N.C. (AP) — J.C. Penney's CEO is leaving the company to become the top executive at Lowe's. The announced departure of Marvin Ellison on Tuesday sent shares of the besieged department store tumbling more than 12 percent to what may become an all-time low. Shares of Lowe's Cos., which has...

Italy edges toward 1st populist govt, law prof as premier

May. 21, 2018 3:52 PM EDT

ROME (AP) — With Europe and markets watching anxiously, Italy edged toward its first populist government Monday as the euroskeptic 5-Star Movement and the right-wing League identified a 53-year-old law professor with no political experience as their pick to become the country's next premier. Five-Star...

The Latest: Iran says 'sham' US policy to reap 'ill rewards'

May. 21, 2018 1:37 PM EDT

WASHINGTON (AP) — The Latest on Secretary of State Mike Pompeo discussing strategy on Iran (all times local): 1:35 p.m. Iran's foreign minister has taken to Twitter to criticize a speech by U.S. Secretary of State Mike Pompeo that took a hard line on the Islamic Republic. Mohammad Javad Zarif tweeted late...

General Electric continues transformation; $11B rail deal

May. 21, 2018 11:40 AM EDT

NEW YORK (AP) — General Electric will tie its train engine division to the railroad equipment maker Wabtec in deal worth about $11 billion as GE CEO John Flannery continues to break off parts of the conglomerate. Wabtec CEO Raymond Betler will lead the combined company and its chairman, Albert Neupaver,...

Trump Jr. met with Mueller witness during campaign

May. 19, 2018 11:46 PM EDT

WASHINGTON (AP) — Donald Trump Jr. met during the 2016 campaign with a private military contractor and an adviser to Middle Eastern leaders, both of whom have since become a focus of investigators working for special counsel Robert Mueller, a lawyer for President Donald Trump's eldest son said Saturday....

The Latest: Cuba state media says Castro had hernia surgery

May. 18, 2018 8:22 PM EDT

HAVANA (AP) — The Latest on the plane crash in Havana (all times local): 8:15 p.m. Cuban state media say Communist Party leader Raul Castro is recovering from a hernia operation. State television said on its evening broadcast that the 86-year-old leader who stepped down as president last month was...

Trump nominates acting VA secretary Wilkie for permanent job

May. 18, 2018 5:51 PM EDT

WASHINGTON (AP) — In a surprise announcement that caught the candidate off-guard, President Donald Trump said Friday he'll nominate acting Veterans Affairs Secretary Robert Wilkie to permanently lead the beleaguered department. Trump spilled the news about Wilkie at a White House event on prison reform as...

Dismissal upheld in suit over Viacom payments to Redstone

May. 18, 2018 4:54 PM EDT

DOVER, Del. (AP) — Delaware's Supreme Court has upheld the dismissal of a shareholder lawsuit challenging Viacom Inc.'s payment of more than $13 million in compensation to company founder and former chairman Sumner Redstone. The court on Friday affirmed a judge's dismissal of a suit alleging that Viacom's...

Markets Right Now: Mixed finish for US stocks on Wall Street

May. 18, 2018 4:14 PM EDT

NEW YORK (AP) — The latest on developments in financial markets (all times local): 4 p.m. It was a mixed finish on Wall Street as declines in banks and technology companies offset gains elsewhere in the market. Citigroup lost 2.2 percent Friday, and chipmaker Intel fell 2.4 percent. Industrial companies...