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Global Investing Roundups
Borders Ousts CEO; Front Page Ads in New York Times; Steve Jobs Speaks, Apple Soars; U.K. Short Selling Ban Ending; Whitman’s Future; Oil Rises on MidEast Violence; Russia Cuts Gas Supplies to Europe
- Borders Group, Inc. (BGP) ousted its Chief Executive George Jones and replaced him with outsider Ron Marshall, a Wildridge Capital Management executive whose primary experience is turning around ailing companies, Reuters reported. George had been Borders’ CEO for the past three years.
- The New York Times Co. (NYT) opened its front page to advertisers, a controversial move within journalism circles but also one that follows rivals the Wall Street Journal and…
Global Investing Roundups
Gas Fuels Factory Orders; Borders Cuts Jobs to Cut Costs; Starbucks Serves Up Free Wi-Fi; Kenya Inflation Soars 32%; Chevron to Invest $5 Billion in Africa; Staples Raises Bid for Corporate Express; Lehman Looking for Cash Infusion; Oil Slides
–U.S. factory orders increased 1.1% in April, an unexpected gain that was boosted by the high cost of gas and other petroleum products, the Commerce Department announced yesterday (Tuesday). Economists had expected a smaller gain of just 0.1% after an upwardly revised 1.5% gain in March, MarketWatch reported.
–Borders Group Inc. (BGP) announced yesterday (Tuesday) it would reduce 20% of its corporate positions in…
4Jun2008 | Money Morning | Comments Off | Continued
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