Citi looks to slash $15bn off cost base
Plans to shed up to $500bn of unwanted assets and slash some $15bn off its cost base, in an effort to kick-start profit growth, underline the investment bank's challenge in bouncing back from the credit crisis
Microsoft to appeal against €899m EC fine
The US software group said it would appeal against the record-breaking €899m fine imposed by Brussels two months ago for anticompetitive business practices
Circuit City opens books to Blockbuster
Circuit City underlined the decline in its fortunes by putting itself up for a possible sale to Blockbuster that would be backed by Carl Icahn, the billionaire investor
BA to resume move to Terminal 5
British Airways is to begin one of the most crucial parts of the move to the showpiece new Terminal 5 in June, including the lucrative New York JFK route
Valero deal hints at room for takeovers
Valero Energy's deal this week to sell a Louisiana refinery at a lukewarm price highlights the refining industry's margin troubles, but it also signals that financing may be more readily available for deals in the booming energy and commodities sector
Ferrovial to inject £400m to BAA
Ferrovial and its partners have agreed to inject £400m ($780m) into BAA to try to stop £4.5bn in bonds being downgraded to 'junk' status
AIG plunges to record loss
The crisis at American International Group deepened after $15bn in credit-related writedowns plunged the US insurer into a record quarterly loss
SocGen names Valet as finance chief
The appointment of Didier Valet as chief financial officer fills the gap in the scandal-hit French bank's senior ranks created when Frédéric Oudéa was promoted to chief executive in April
Dresdner loss drags on Allianz
Dresdner Bank stayed in the red in the first quarter after writing down €845m on structured finance investments, keeping it in the spotlight as parent Allianz works to split it in two
Higher barley prices hit Inbev
The brewer of Beck's and Stella Artois beers predicted a better second half after a fall in Brazilian beer sales and higher commodities costs hit first-quarter results
Hyundai suspends US pick-up production plan
The South Korean carmaker has suspended a plan to produce pick-up trucks in the US due to falling demand for gas-guzzling vehicles amid record high oil prices
HMV says turnround on track as sales jump
The music and entertainment retailer reported a 13.8% rise in like-for-like sales at stores in the UK and Ireland and said it expected pre-tax profitd at the top end of market forecasts
Sovereign Bancorp to raise fresh capital
A deal to raise up to $2bn from a consortium led by Spain's Grupo Santander would make the second-largest US savings and loan the latest in a line of banks seeking to raise capital to offset losses on loans
EDF adds to its UK nuclear options
EDF, Europe's biggest power company, has been buying land around nuclear sites in England and Wales
Toyota forecasts go into reverse
Hit by a stronger yen, lower demand in the US and high raw material costs, Toyota is expecting net profit to fall 27 per cent in the final quarter