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Leadership Business Events

  • TOKYO, Feb 17- S&P Global Inc said in a report on Friday it could cut its rating of Toshiba Corp credit by several notches should the Japanese firm receive financial support that includes debt restructuring, sending Toshiba stock down 9 percent. "If any financial support includes debt-to-equity swaps or changes in loan conditions, we would consider that as...

  • *S&P says any form of debt restructuring is selective default. TOKYO, Feb 17- Shares in Japan's Toshiba sank 10 percent on Friday, after credit rating firm S&P Global said it could slash the conglomerate's rating several notches if financial support from lenders includes any form of debt restructuring. Sumitomo Mitsui Banking Corp on Thursday said it will...

  • "These actions will produce about $20 million of annual savings relative to our 2016 exit operating expense run rate," Chief Executive Noah Breslow said in a statement on Thursday. The company's net loss attributable to shareholders widened to $35.9 million, or 50 cents per share, for the fourth quarter ended Dec. 31, compared with $4.6 million, or 7 cents per share, a...

  • Feb 16- Duke Energy Corp, the biggest U.S. power company by generation capacity, posted a quarterly loss, stemming from the sale of its international business last year. Net loss attributable to the Duke Energy was $227 million, or 33 cents per share, in the fourth quarter ended Dec. 31, compared with a profit of $477 million, or 69 cents per share, a year earlier.

  • Feb 16- Marketplace lender On Deck Capital Inc reported a wider loss for the fifth straight quarter and said it would reduce headcount by 11 percent. The company's net loss attributable to shareholders was $35.86 million, or 50 cents a share, for the fourth quarter ended Dec. 31, compared with $4.64 million, or 7 cents a share, a year earlier. Interest income rose about...

  • The company's net loss attributable to shareholders widened to $275.1 million, or $1.99 per share, in the fourth quarter ended Jan. 1, from $40.5 million, or 29 cents per share, a year earlier. SunPower said it recorded a $175.8 million charge related to restructuring expenses in the latest quarter, compared with $31.2 million a year earlier. The company, majority...

  • Feb 15- Verizon Communications Inc has tentatively reached a revised deal that would lower by about $250 million the price to acquire Yahoo Inc's core internet business, Bloomberg reported on Wednesday. Verizon's deal to buy Yahoo's assets, including its digital advertising, email and media assets, was worth $4.83 billion when it was first announced.

  • LONDON, Feb 15- Britain has contacted the president of General Motors to express concerns after the American firm opened talks to sell its European operations, including the Vauxhall plants in England, to France's PSA Group. The talks have raised fears from unions in Britain and Europe that a deal could lead to job cuts or plant closures within GM's loss-making...

  • *Opel business has struggled for profitability. For PSA, owner of the Peugeot, Citroen and DS brands, acquiring GM's Opel and Vauxhall brands would give it a 16.3 percent share of the European passenger car market, vaulting it into second place in the region, ahead of French rival Renault SA and behind Germany's Volkswagen AG. Germany's industrial union IG Metall...

  • *Q4 loss 2.35 bln Sfr vs 2.01 bln Reuters poll estimate. ZURICH, Feb 14- Credit Suisse will cut up to 6,500 more jobs in 2017, as Chief Executive Tidjane Thiam pushes ahead with a major restructuring which he said on Tuesday might now no longer include floating the bank's Swiss business. The additional job cuts come after Switzerland's second-biggest bank...

  • NEW YORK, Feb 14- Technology whizzes who helped Goldman Sachs eliminate hundreds of trading jobs over the past few years are venturing into the bank's flagship M&A business, making some junior bankers uneasy. A team of 75 programmers, internally referred to as "strats," has been developing technology to make Goldman's elite dealmakers more productive.

  • DUBAI, Feb 14- Dubai- based building company Drake& Scull announced a turnaround and capital restructuring plan on Tuesday as it reported another quarterly loss, the latest sign of how a slowdown in the Gulf's construction industry is hurting contractors. As part of its capital restructuring plan, DSI said it was considering proposing a rights issue of 500...

  • Goldman Sachs

    Technology whizzes who helped Goldman Sachs eliminate hundreds of trading jobs over the past few years are venturing into the bank's flagship M&A business, making some junior bankers uneasy.

  • NEW YORK, Feb 14- Technology whizzes who helped Goldman Sachs eliminate hundreds of trading jobs over the past few years are venturing into the bank's flagship M&A business, making some junior bankers uneasy. A team of 75 programmers, internally referred to as "strats," has been developing technology to make Goldman's elite dealmakers more productive.

  • TOKYO, Feb 13- Japan's Kirin Holdings Co said on Monday it would sell its Brazilian unit to Heineken NV subsidiary Bavaria S.A. for 2.2 billion Brazilian reais. The transfer will be executed immediately upon approval by Brazil's antitrust agency, Kirin said in a statement. Brasil Kirin operates 12 breweries and was created in 2011 after Kirin paid 6.3 billion...

  • SAO PAULO, Feb 10- A group of bondholders in Oi SA appealed on Friday a ruling by a Dutch court that refused to declare insolvent two subsidiaries in the Netherlands, the latest setback in a protracted legal battle to solve Brazil's largest bankruptcy case on record. "The restructuring should treat similarly situated creditors equally," the International...

  • SAO PAULO, Feb 9- A Cerberus Capital Management LP- led group of investors plans to unveil an alternative in-court restructuring proposal for debt-laden Brazilian phone carrier Oi SA as early as next month, right after finalizing due diligence procedures, a person with direct knowledge of the plan said on Friday. Oi filed for Brazil's largest-ever bankruptcy...

  • SAN FRANCISCO, Feb 9- Zenefits is laying off nearly half its staff as the software startup grapples with the fallout of insurance violations that resulted in hefty penalties from state regulators. Employees were alerted to the layoffs in a memo sent by Jay Fulcher, who started as the San Francisco- based company's CEO on Monday. Fulcher said Zenefits would move...

  • MUMBAI/ LONDON, Feb 9- Tata Steel UK has signed a 100 million pound deal to sell its speciality steel business to Liberty House Group, as the firm's Indian owner Tata Steel Ltd's presses on with restructuring its European operations. The deal, which is subject to regulatory clearances, secures 1,700 jobs, mostly in South Yorkshire in the north of England, Britain's...

  • MUMBAI/ LONDON, Feb 9- Tata Steel UK has signed a 100 million pound deal to sell its speciality steel business to Liberty House Group, part of Indian owner Tata Steel Ltd's drive to restructure its European operations. Today's news also marks another important step forward in realising a more sustainable future for our Port Talbot-based supply chain in the UK, "...