Leadership Business Events

  • CHICAGO, Sept 23- Shares of Caesars Entertainment Corp slid on Friday as creditors thrashed out the terms of a sweetened $5 billion deal that could finally extract the casino company from a costly bankruptcy. The company's main operating unit, Caesars Entertainment Operating Corp Inc, or CEOC, filed for bankruptcy in January 2015. The latest offer from Caesars...

  • SAO PAULO, Sept 23- Raia Drogasil SA, Brazil's biggest drugstore chain, will sit out expected consolidation of the national market, the company's chief executive said in an interview, because its own rapidly expanding network is proving increasingly efficient. CVS Health Corp entered Brazil with an acquisition in 2013 and two sources told Reuters this month...

  • CHICAGO, Sept 23- Shares of Caesars Entertainment Corp slid on Friday, a day after hitting a 16- month high, as investors awaited a midnight deadline for creditors to accept a sweetened $5 billion deal that could finally extract the casino company from a costly bankruptcy. The company's main operating unit, Caesars Entertainment Operating Corp Inc, or CEOC, filed...

  • RIO DE JANEIRO, Sept 23- Brazil's state-owned oil producer Petrobras agreed to sell 90 percent of a natural gas pipeline unit to a group led by Canada's Brookfield Asset Management Inc for $5.2 billion, the companies said on Friday. The investor group includes two sovereign wealth funds, China's CIC Capital Corp and Singapore's GIC Private Ltd..

  • RIO DE JANEIRO— The board of Brazilian state-run oil giant Petrobras has approved the sale of a key natural gas pipeline unit to a group of investors led by Toronto- based Brookfield Asset Management. Petrobras says the group will pay $5.2 billion over five years to acquire a 90 percent stake in the Nova Transportadora do Sudeste unit. A Friday statement says the...

  • LONDON, Sept 23- Goldman Sachs is cutting almost 30 percent of its 300 investment banking jobs in Asia outside Japan in response to a slowdown in activity in the region, two sources familiar with the matter told Reuters. Most of the jobs cuts are likely to take place in Hong Kong, Singapore and China, where Goldman's main Asian offices are located, they added.

  • Sept 23- Brazil's state-run oil company Petroleo Brasileiro SA agreed to sell 90 percent of its natural gas pipeline unit for $5.2 billion to a group of investors led by Canada's Brookfield Asset Management Inc, the companies said on Friday. The consortium includes sovereign wealth funds CIC Capital Corp of China and GIC Private Ltd. of Singapore.

  • TOGLIATTI, Russia, Sept 23- Russian carmaker Avtovaz has a civic responsibility to preserve jobs, the company's new chief executive told Reuters, rowing back on a politically sensitive policy of redundancies in the face of plummeting sales and record losses. In his first extended interview with foreign media since majority owners Renault and Nissan put him in...

  • TOKYO, Sept 23- Japan plans to rush through a bill to provide more financial muscle for its companies to compete for global energy assets, just as other resource-hungry Asian economies such as China and India are also looking to snap up depressed oil assets. Prime Minister Shinzo Abe's cabinet intends to revise a law governing the Japan Oil, Gas and Metals...

  • Moller-Maersk is in talks to buy a portfolio of North Sea assets from Royal Dutch Shell as the Danish group considers adding scale to its oil and gas business ahead of a planned spin off, banking sources said. Maersk has said over the past year that it planned to invest several billions of dollars to expand its oil operations, although it is now likely to face bigger...

  • *Ericsson says job cuts to be made worldwide, Sweden not excluded. STOCKHOLM, Sept 22- Mobile telecoms equipment maker Ericsson plans to close the last of its Swedish manufacturing sites as part of planned savings, cutting about 3,000 jobs, Swedish daily Svenska Dagbladet reported. The decision ends 140 years of production in Sweden for the company that began as a...

  • CHICAGO, Sept 21- Caesars Entertainment Corp said on Wednesday it proposed along with its private equity backers a settlement offer with an added $1.6 billion for creditors of its casino operating unit, raising hopes of an end to the subsidiary's costly bankruptcy. Apollo Global Management and TPG Capital Management, the private equity firms that control the...

  • LONDON, Sept 21- European shares hit a one-week high on Wednesday before the outcome of a Fed meeting, with banks rallying after a policy overhaul at the Bank of Japan lifted risky assets globally. Spain's Banco Popular jumped 9.1 percent after saying it would cut around 300 bank branches as part of a restructuring plan. Europe took its cue from Asian markets, which...

  • TORONTO, Sept 21- The province of Ontario said on Wednesday that it has signed an agreement with equity fund Bedrock Industries LP to restructure U.S. Steel Canada, which has been in creditor protection since September 2014, and the court supervising the company's credit protection proceeding, Ontario's government said in a statement. Steel Canada's plants in...

  • Sept 21- General Mills Inc reported a drop in quarterly net sales for the fifth straight quarter, hurt mainly by weak demand for its Yoplait yogurt and Progresso soup and the sale of its Green Giant frozen vegetable business. The maker of Cheerios cereal said net earnings attributable to the company fell to $409 million, or 67 cents per share, in the first quarter...

  • MILAN/ LONDON, Sept 20- Italian oil major Eni has delayed the planned $3.4 billion sale of its domestic retail business, sources said, as political uncertainty caused by an upcoming referendum on democratic reform hinders major deals across the country. The delay in selling the gas and power business, estimated to be worth up to 3 billion euros, follows the...

  • MILAN/ LONDON, Sept 20- Italian oil major Eni has delayed the planned $3.4 billion sale of its domestic retail business, sources said, as political uncertainty caused by an upcoming referendum on democratic reform hinders major deals across the country. The delay in selling the gas and power business, estimated to be worth up to 3 billion euros, follows the...

  • *U.S. to provide Israel $38 bln in military aid over 10 years. Deal phases out Israel ability to spend 26.3 pct locally. JERUSALEM, Sept 20- Israel's defence industry faces layoffs, closures and a scramble to set up shop in the United States following the signing of a new U.S. military aid package that phases out Israel's ability to spend a quarter of the funds on its own...

  • *U.S. to provide Israel $38 bln in military aid over 10 years. Deal phases out Israel ability to spend 26.3 pct locally. JERUSALEM, Sept 20- Israel's defense industry faces layoffs, closures and a scramble to set up shop in the United States following the signing of a new U.S. military aid package that phases out Israel's ability to spend a quarter of the funds on its own...

  • TOKYO, Sept 20- Shares in Takata Corp fell as much as 9 percent on Tuesday after a Bloomberg report that some of the company's bidders are considering the possibility of some form of bankruptcy proceedings for the troubled Japanese air bag maker. Citing people familiar with the bidding process, Bloomberg reported on Monday that a bankruptcy option was being...