updated - October 22, 2019 Tuesday EDT
NRG Enegery Inc. has announced in a press release that David Crane is stepping down as president and CEO of the company, effective immediately. Crane, who has been president and CEO since 2003, will be replaced by Mauricio Gutierrez, who serves as the executive vice president and COO of NRG since July 2010.
Barclays PLC has announced in a press release that it will be selling its Italian Retail Banking network of 89 branches to CheBanca!, the retail arm of the Mediobanca Group. The transaction is part of Barclays’ strategy to reduce businesses that are unprofitable or lack scale.
Royal Dutch Shell plc has announced in a press release that its recommended combination with BG Group plc has received approval from the Australian Foreign Investment Review Board (FIRB). The recommended combination now only needs approval from China’s regulatory authorities.
Qualcomm Inc. has announced in a press release that it has entered into a new 3G and 4G China patent license agreement with Xiaomi Inc., a leading Chinese smartphone and Internet company. The announced agreement quells investors’ fears that Chinese vendors are ignoring Qualcomm’s patent licensing.
RadioShack has announced in a press release published in PR Newswire that it has named Nick Cannon, one of the most successful and multi-faceted artists in the entertainment industry today, to be its new chief creative officer (CCO).
Cabela’s Inc. has announced in a press release that its board of directors is looking to explore and evaluate a wide range of strategic alternatives. The company is looking to increase its value for shareholders.
Shell Chemical LP has announced in a press release its final investment decision to increase the production of Alpha Olefins (AO) at its chemical plant in Geismar, Louisiana. The increase in production makes the plant the largest producer of AO in the world.
Great Western Bancorp, Inc. has announced in a press release that it will be acquiring HF Financial Corp. for approximately $139.5 million in a cash and stock transaction. The acquisition of HF Financial, the holding company and parent of Home Federal Bank, solidifies Great Western’s market leadership in Sioux Falls.
Ford Motor Company has said in a press release that it will be investing $1.3 billion and adding 2,000 jobs to its truck plant in Kentucky. The move is to support the launch of its all-new Ford F-Series Super Duty truck.
Morgan Stanley is planning to cut a quarter of its workforce, all of which will be coming from the debt and currencies division, people familiar with the matter told The Wall Street Journal. The job cuts are because of the Wall Street firm’s belief that the already months-long slump in trading revenues will persist.