Leadership Business Events

  • BRUSSELS, Nov 18- Euro zone banks could be forced by watchdogs to suspend their payments to some creditors for a maximum of five days if there are risks of bank failure, a draft EU law said, granting regulators power to intervene early to prevent crisis. The draft law, expected to be published by the European Commission next week, gives regulators the extra power to...

  • SYDNEY/ SINGAPORE/ TOKYO, Nov 18- Australia and New Zealand Banking Group's sale of its life insurance and wealth unit is attracting interest from Japan's Meiji Yasuda and Hong Kong- based AIA Group, according to people familiar with the situation. Meiji Yasuda, Japan's third-largest private sector insurer by assets, is attracted to ANZ's wealth business as well...

  • SAO PAULO, Nov 17- Brazil's Petroleo Brasileiro SA has approved the sale of its liquefied petroleum gas unit to Ultrapar Participações SA, as Brazil's state-controlled firm disposes of assets to reduce the largest debt burden among global oil producers. In a securities filing on Thursday, Petrobras said its board approved the sale of Liquigás...

  • Citi's Institutional Clients Group advised the bank on the deal. National Bank Financial Inc was lead financial adviser to JC Flowers and Värde. Barclays Capital also served as financial adviser to the buyers.

  • Nov 17- Verizon Communications Inc's AOL digital media unit will lay off 5 percent of its workforce, or about 500 people, to consolidate operations after recent acquisitions, a person familiar with the situation said on Thursday. Chief Executive Officer Tim Armstrong informed employees about the cuts in an email on Thursday morning. Verizon bought AOL for $4.4...

  • Nov 17- Verizon Communications Inc's AOL digital media company will lay off 5 percent of its workforce, or about 500 employees, to consolidate operations after recent acquisitions, a person familiar with the situation said on Thursday. Chief Executive Officer Tim Armstrong informed employees about the workforce cuts in an email on Thursday morning.

  • The plan of reorganization was filed in the U.S. Bankruptcy Court for the Southern District of New York with the full support of its creditors committee, the company said in a statement. The plan outlines the company will emerge as a single air carrier under the name Republic Airline Inc, it said. Republic offers about 1,000 daily flights to more than 100 cities in...

  • Nov 16- Regional carrier Republic Airways Holdings Inc, which sought Chapter 11 bankruptcy protection in February, said on Wednesday it filed a plan to emerge from bankruptcy in the first quarter of 2017.. A plan of reorganization was filed in the U.S. Bankruptcy Court for the Southern District of New York with the full support of its creditors committee, the...

  • First Solar said it expected a loss per share of $4- $2 in 2016, compared with earnings of $3.75- $3.90 forecast earlier. The company said it expected pretax restructuring charges of $500 million- $700 million, anticipated primarily in the fourth quarter of 2016. http://bit.ly/2givx1p. First Solar forecast 2017 net sales of $2.5 billion- $2.6 billion, well below...

  • The company also forecast on Wednesday 2017 net sales of $2.5 billion- $2.6 billion, well below analysts' average estimate of $2.98 billion, according to Thomson Reuters I/B/E/S. First Solar said the restructuring is expected to result in pretax charges of between $500 million- $700 million, anticipated primarily in 2016.. The company warned earlier this month...

  • BEIRUT, Nov 16- Lebanon's Blom Bank said on Wednesday it had signed an agreement to acquire the assets and liabilities of HSBC Bank Middle East-Lebanon, a wholly owned subsidiary of HSBC Holdings. Subject to regulatory approval from Lebanon's central bank, Banque du Liban, the transaction is expected to be completed in the first half of 2017, Blom said in a...

  • MILAN, Nov 15- Mediaset's production unit, Medusa, said on Tuesday it had sold exclusive pay-TV rights to rival Sky Italia to air its Italian movies in the upcoming 2016-2017 season. Loss-making Premium is at the centre of a legal battle between Mediaset, owned by former Prime Minister Silvio Berlusconi, and Vivendi after the French group backed out of a deal to buy...

  • *Lists assets and liabilities in $100- $500 mln range. NEW YORK/ MONTREAL, Nov 14- American Apparel LLC filed its second bankruptcy in just over a year on Monday, after struggling to overcome mounting losses, intense competitive pressures among U.S. teen retailers and a rocky chapter under its controversial founder. At least eight U.S. teen retailers, including Wet...

  • *Lists assets and liabilities in $100- $500 mln range. NEW YORK, Nov 14- American Apparel LLC filed its second bankruptcy in just over a year on Monday, after struggling to overcome mounting losses, intense competitive pressures among U.S. teen retailers and a rocky chapter under its controversial founder Dov Charney. At least eight U.S. teen retailers, including...

  • The latest cutbacks could increase the total number of jobs shed by the Switzerland- based company to more than 500 since May, a trade union leader said. Lucas DuBuis said the labour organisation would meet with workers at Richemont facilities throughout Switzerland on Tuesday in a bid to again keep actual layoffs to a minimum. Of Richemont's 28,250 employees...

  • LONDON, Nov 14- Mozambique wants to strike a debt restructuring deal before the end of this year and aims to treat bondholders on par with its other commercial creditors, the country's legal advisor told Reuters. "There is virtually no capacity for Mozambique to pay anything to commercial creditors in coming years," said Ian Clark, a partner at law firm White& Case...

  • *Lists assets and liabilities in $100- $500 mln range. NEW YORK, Nov 14- American Apparel LLC filed for its second bankruptcy protection in just over a year on Monday, weighed down by intense competitive pressures facing U.S. teen retailers and a rocky relationship with its founder. American Apparel, known as much for its sexually charged advertising, listed assets...

  • NEW YORK, Nov 14- American Apparel LLC filed its second bankruptcy in just over a year on Monday, weighed down by intense competitive pressures facing U.S. teen retailers and a rocky relationship with its founder. American Apparel listed assets and liabilities in the range of $100 million to $500 million, according to a Delaware court filing....

  • NEW YORK, Nov 14- American Apparel LLC plans to file its second bankruptcy in just over a year as soon as Monday, weighed down by intense competitive pressures facing U.S. teen retailers and a rocky relationship with its founder, according to people familiar with the matter. The company became a part of popular culture for its racy advertising and mercurial...

  • Nov 10- College e-learning firm ChinaCast Education Corp said it has filed for Chapter 11 bankruptcy to pursue claims of embezzlement against former executives while shielding itself from a class action lawsuit by investors. Wednesday's filing with the U.S. Bankruptcy Court in New York came a day after a U.S. District Court in Los Angeles awarded ChinaCast...