Leadership Business Events

More

  • Carrier Corp. said it would shutter its Indianapolis plant where 1,400 workers and move its manufacturing to Mexico. Carrier Corp. and UTEC are both units of Hartford, Connecticut- based United Technologies Corp.. Carrier's president of North American HVAC systems and services, Chris Nelson, said the company is closing the Indianapolis plant in response to "...

  • BUENOS AIRES, Feb 10- Argentine banks are gearing up for a potential lending boom that could push depressed private credit demand to a 16- year high, bolstered by the reforms undertaken by newly-elected President Mauricio Macri. An end to the 14- year standoff between Argentina and the lenders who refused to participate in the earlier debt restructuring could...

  • Asahi offers to buy Peroni, Grolsch beers from AB Inbev Wednesday, 10 Feb 2016 | 9:54 AM ET

    LONDON— Budweiser-maker AB InBev has received a binding offer of 2.55 billion euros for the European beer brands Grolsch, Peroni and Meantime— a sale that is meant to address regulatory concerns about its mega merger with SABMiller. "SABMiller has grown Peroni and Grolsch into world-renowned premium brands, and we are confident that, along with fast-growing...

  • Staples gets EU approval for acquisition of Office Depot Wednesday, 10 Feb 2016 | 7:16 AM ET

    NEW YORK— Staples has received European approval for its buyout of Office Depot and in exchange, it said Wednesday that it would split off some operations in Europe to allay monopoly fears. The company will divest all of Office Depot's operations in Sweden, as well as European retail, contract, online and catalog operations in an agreement with the European...

  • NEW YORK, Feb 9- The chief investment officer of Apex Capital is departing to launch a new technology-focused hedge fund, causing a restructuring of his old firm, according to a letter sent to Apex clients and a person familiar with the situation. That new firm is SoMa Equity Partners, and will led by current Apex chief investment officer Gil Simon.

  • CHARLESTON, W.Va.— Alpha Natural Resources said it has received a $500 million offer from existing lenders for the potential sale of the bankrupt coal producer's core assets. Bristol, Virginia- based Alpha announced the offer in a filing Monday in U.S. Bankruptcy Court in Richmond, Virginia. The offer includes all Alpha coal assets in Pennsylvania and Wyoming; the...

  • Feb 9- Oil and gas producer WPX Energy Inc said on Tuesday it has agreed to sell natural gas assets in Colorado's Piceance Basin for $910 million to a private firm, in a deal viewed by investors as a bright spot in the sluggish market for oil and gas properties. WPX said its unit, WPX Energy Rocky Mountain LLC, will be bought by Terra Energy Partners LLC, a private company...

  • Noranda Aluminum files for bankruptcy Tuesday, 9 Feb 2016 | 10:29 AM ET

    KANSAS CITY, Mo.— One of North America's biggest makers of aluminum foil is seeking bankruptcy protection to restructure, citing falling aluminum prices and other market challenges that also will force it to idle production at a Missouri smelter. Noranda Aluminum Holding Corp., which refines aluminum and mines bauxite, made the Chapter 11 filing Monday in St....

  • U.S. wholesale inventories, sales fall in December Tuesday, 9 Feb 2016 | 10:00 AM ET

    WASHINGTON, Feb 9- U.S. wholesale inventories slipped in December for a third straight month as businesses continued to reduce unsold merchandise, suggesting the advance fourth-quarter economic growth estimate could be revised slightly lower. The Commerce Department said on Tuesday wholesale inventories dipped 0.1 percent. November inventories were...

  • HOFFMAN ESTATES, Ill.— Sears keeps pruning its business in a years-long makeover, a bid to transform itself from a 123- year-old retail store into a nimble, 21st century operator. Comparable-store sales in the fourth quarter dropped 6.9 percent at Sears, and 7.2 percent at Kmart, which the also company owns. While the quarter that contains the critical shopping...

  • Feb 9- Oil and gas producer WPX Energy Inc said it would sell natural gas assets in Colorodo's Piceance basin for $910 million to boost its liquidity amid a prolonged slump in oil prices. WPX said its unit, WPX Energy Rocky Mountain LLC, will be bought by Terra Energy Partners LLC, a private company owned by investment manger Kayne Anderson and private equity firm...

  • With more than $10 billion in bonds, the oil and gas producer's balance sheet is under pressure and its equity market capitalization is around just $1.2 billion. That is plenty to pay $500 million in debt due in March, though at least another $1.3 billion will come due through 2018.. Once a Wall Street darling that in many ways symbolized the U.S. fracking...

  • Over the past year scores of commodity-related businesses have filed for bankruptcy as prices for metals, energy and coal have plummeted amid a slowdown in markets such as China and Brazil. "This is due to a number of factors, principal among them is the sustained and dramatic decline in the price of primary aluminum," Chief Financial Officer Dale Boyles said in a...

  • It reported cash on hand of about $1.8 billion on Sept. 30, according to public filings. That is plenty to pay $500 million in debt due in March, though another $1.3 billion will come due through 2018.. Chesapeake, once a Wall Street darling, has struggled since a governance crisis prompted the departure of its founder and former Chief Executive Aubrey McClendon in...

  • NEW YORK— Chesapeake Energy sought to assure investors Monday that it is not planning to file for bankruptcy protection. The Oklahoma City company has slashed spending, sold assets and cut jobs to save money. For the nine months ended Sept. 30, Chesapeake Energy lost $12.63 billion, or $19.07 per share, compared with a year-earlier profit.

  • PARIS, Feb 8- Casino could beat a 4 billion euro asset disposal target this year following the sale of its Thai business, the French retailer's finance chief said on Monday. The sale of a 58.6 percent stake in Big C for 3.1 billion euros, excluding debt, to Thailand's TCC Group is part of a plan by Casino to reduce its 6 billion euros of debt. Casino's sale of its Big C...

  • Noranda Aluminum files for bankruptcy Monday, 8 Feb 2016 | 3:49 AM ET

    The Franklin, Tennessee- based company said challenging market conditions for the aluminum industry and recent disruptions in its primary business operations led to the decision. Noranda listed both assets and liabilities in the range of $1 billion to $10 billion. The case is in U.S. Bankruptcy Court, for the Eastern District of Missouri, Case No 16-10083..

  • Report: Ford to build auto plant in Mexico Sunday, 7 Feb 2016 | 6:26 PM ET

    NEW YORK— Published reports are saying that Ford plans to build a new auto plant in Mexico, with plans to rev up production there. According to The Wall Street Journal, Ford plans to build a new assembly complex in San Luis Potosi and expand an existing facility near Mexico City. The move reflects how Mexico has become an attractive place for global carmakers.

  • LISBON, Portugal— The Portuguese government says it has agreed to buy 50 percent of the country's carrier TAP Air Portugal for 1.9 million euros. Prime Minister Antonio Costa, Planning and Infrastructure Minister Pedro Marques and Finance Minister Mario Centeno were at the ceremony in Lisbon. On Jan. 7, the Cabinet announced it was annulling the concessions to...

  • TORONTO, Feb 5- BlackBerry Ltd is cutting 200 jobs at its hometown headquarters in Ontario and in Florida in order to trim costs, it said on Friday, as the smartphone maker moves to turn around its fortunes and put more emphasis on its enterprise software business. The layoffs will affect 75 manufacturing jobs in Sunrise, Florida, a state government website showed.