By picking a banker instead of an oil executive to run Petrobras, Brazilian President Dilma Rousseff appears to have recognized that the state-run company's biggest priority is to clean up its books and acknowledge how many billions of dollars it lost to a corruption scheme in recent years.
Firm Management
Tesco to cut up to 10,000 jobs: Sunday Telegraph
Britain's biggest supermarket Tesco (TSCO.L) could cut up to 10,000 jobs as part of its attempts to halt a slide in profits, a newspaper reported.
United Airlines to cut about 1,150 jobs at 16 U.S. airports
United Airlines (UAL.N) will outsource about 1,150 positions at 16 airports across the country, but reached tentative agreements with its union to keep another 800 jobs in-house that also had been under scrutiny, a company spokesman said on Friday.
GM turns to banks to help deal with activist investor group
General Motors Co (GM.N) has turned to two investment banks to help it come up with a response to a shareholder group demanding $8 billion in stock buybacks and a seat on the board of the No. 1 U.S. automaker, the company told Reuters.
Kraft Foods shakes up leadership, reports quarterly loss
Kraft Foods Group Inc said on Thursday that its chief financial officer would leave her role and two other senior executives would depart from the company, marking the first major changes at the maker of Velveeta cheese and Oscar Mayer meats since its board chairman took over as chief executive in December.
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BlackRock Inc (BLK.N) is planning an array of new investment products that will allow clients to invest in addressing large societal issues, such as global hunger or poverty, an executive at the New York-based firm said.
Standard Chartered Plc (STAN.L) will shift its retail banking focus to affluent clients from ordinary customers and urge them to bank online as part of a broader restructuring led by embattled CEO Peter Sands, a senior executive told Reuters.
Brazil's President Dilma Rousseff tapped a confidant from a state-run bank to be the next head of Petrobras on Friday, chilling investor hopes that a more independent new management team would steer the oil firm out of a huge corruption scandal.
Chinese bankers welcomed Beijing's decision to cut the level of reserves they must hold, hoping they can put the freed-up cash to profitable use, but struggling Chinese companies hoping it will mean more and cheaper loans are likely to be disappointed.
Japanese air bag maker Takata Corp (7312.T) booked nearly $30 million in extra charges for vehicle recalls to replace potentially deadly air bag inflators, as well as other costs, tipping it toward a bigger annual loss than previously forecast.
Japan's government is likely to name academic Yutaka Harada, a proponent of aggressive steps to end deflation, to the central bank's policy board, the Nikkei newspaper said on Wednesday.
The European Central Bank is considering withdrawing from the "troika" of international lenders that governs Greece's international bailout, German business daily Handelsblatt reported on Tuesday.
Verizon Communications Inc (VZ.N) is nearing wrapping up deals to sell more than $10 billion in assets, the Wall Street Journal reported, citing people familiar with the matter.
A U.S. Treasury official and a director at the New York Federal Reserve are among those who have been considered to replace two hawkish Fed policymakers, according to people familiar with the searches.
