GMP Capital Inc. , Canada’s second- worst performing financial services stock this year, said Chief Executive Officer Kevin Sullivan will step down on Oct. 1 and be replaced by President Harris Fricker .
Federal securities class action filings decreased by about 10 percent last year from 2011, PricewaterhouseCoopers found in its 17th annual Securities Litigation Study published yesterday. There were 172 cases in 2012, compared to 191 cases in 2011, with a significant drop in the fourth quarter of 2012.
Compania Mexicana de Aviacion, Mexico’s biggest airline by passengers, filed for protection from creditors in Mexico and the U.S. after its executives said they had failed to reach cost-saving agreements with labor unions.
AT&T Inc. and Verizon Wireless , the biggest U.S. mobile carriers, are planning a venture to displace credit and debit cards with smartphones, posing a new threat to Visa Inc. and MasterCard Inc. , three people with direct knowledge of the plan said.
The Texas Rangers may reach a sale agreement with a new bidder to lead off its auction, replacing a deal with a group led by Chuck Greenberg and Nolan Ryan , the chief restructuring officer for the team’s owners said.