Chase Manhattan Corp. aims to cut an estimated 3,000 jobs as a result of its buyout of investment bank J.P. Morgan, Chase spokesman John Anderson said Thursday.
New York Times Co. said Thursday that its board authorized an additional $600 million for repurchase of its class A common stock. The repurchased shares would be used for general corporate purposes and for the stock-based employee benefit plans. Purchases may be made from time to time either in the open market or through private transactions. There are about 164.1 million class A shares outstanding.
British Airways PLC and KLM Royal Dutch Airlines broke off talks about a long-planned merger Thursday, blaming intractable commercial and regulatory issues.