Leadership Business Events

  • June 20- Wal-Mart Stores Inc said on Monday it would sell its Chinese e-commerce business, Yihaodian, to China's JD.com Inc and create a strategic alliance that could help boost Wal-Mart's business in China. Walmart's China stores will be listed as a preferred retailer on JD.com' s crowd-sourced platform, O2O JV Dada. Walmart's financial adviser on the deal was...

  • June 20- Wal-Mart Stores Inc said it would sell its Chinese e-commerce business, Yihaodian, to China's JD.com Inc.. Under the deal, JD.com will issue about 145 million new class A shares to Wal-Mart, representing about 5 percent of its total shares. Wal-Mart took a stake in Yihaodian, which caters to affluent female customers, in 2011 before taking full ownership in...

  • SAO PAULO, June 20- Voting shares of Oi SA fell as much as 16 percent in early Monday trading as approaching deadlines for debt repayments added to fears that Brazil's most indebted phone carrier could default in the middle of a restructuring. Fitch Ratings cut Oi's long-term debt rating to "C" from "CCC" on Friday, warning the company's current capital structure "is...

  • DUBAI, June 20- An effort to restructure indebted Saudi Arabian builder Mohammad Al Mojil Group was thrown into doubt on Monday when the firm said its board had resigned after three people involved with the company were sentenced to jail. Last week, the stock market regulator ordered MMG to pay it damages of 1.6 billion riyals and sentenced three people,...

  • June 20- Wal-Mart Stores Inc is in talks to sell its Chinese e-commerce business, Yihaodian, to JD.com Inc, the Wall Street Journal reported, citing people familiar with the situation. The exact terms of the proposed deal are unclear and discussions remain fluid, but one of the people said it could include a broader partnership between Wal-Mart and JD.com,...

  • MEXICO CITY, June 17- Embattled Mexican construction firm ICA said it will borrow $215 million from financier David Martinez's vehicle Fintech, as it unveiled a preliminary restructuring plan that offered few details on how it would cope with its heavy debt load. The Mexico City- based firm has failed to post a profit since 2013 and struggled to find new work in...

  • MEXICO CITY, June 17- Embattled Mexican construction firm ICA said it will borrow $215 million from financier David Martinez's vehicle Fintech, as it unveiled a preliminary restructuring plan that offered few details on how it would cope with its heavy debt load. The Mexico City- based firm has failed to post a profit since 2013 and struggled to find new work in...

  • MEXICO CITY, June 17- Embattled Mexican construction firm ICA said it will borrow $215 million from financier David Martinez's vehicle Fintech, as it unveiled a preliminary restructuring plan. In a statement on Friday, the company said it would exit international concession projects it had yet to begin, and construction would be limited to Mexican operations...

  • June 16- Lumber Liquidators Holdings Inc has agreed not to sell its existing inventory of laminate flooring previously sourced from China, the U.S. consumer safety regulator said, as the flooring retailer looks to move beyond allegations the products contained excessive levels of cancer-causing formaldehyde. The U.S. Consumer Products Safety Commission...

  • The sale could fetch around $800 million and help Canada's biggest energy company pay down debt incurred by recent acquisitions, the people said this week. Calgary, Alberta- based Suncor, which merged with Petro-Canada in 2009, is working with Bank of America Corp on the sale process, said the sources, asking not to be identified because the matter is...

  • ZURICH, June 16- LafargeHolcim will meet its targets for 2016 and beyond, Chief Executive Eric Olsen told Reuters, defying doubters who have sent the shares plunging 46 percent since the merger last year that created the world's biggest cement maker. France's Lafarge and Switzerland's Holcim joined forces in a $44 billion tie-up, promising to cut costs and...

  • NEW YORK, June 15- A U.S. bankruptcy judge on Wednesday approved Gawker Media LLC's request to borrow $22 million from an affiliate of buyout firm Cerberus Capital Management LP to help fund the online publisher through its court-supervised auction. Gawker filed for bankruptcy last week, with an agreement from publisher Ziff Davis LLC to buy it for $90 million...

  • TV station operators, has launched an auction to divest its digital and data business in a sale it hopes will fetch at least $800 million, according to three people familiar with the matter. The move represents the first asset sale by Tribune Media after it announced in February that it had hired investment banks Moelis& Co and Guggenheim Securities to explore...

  • San Francisco- based Zenefits will lay off 106 people, or about 9 percent of the staff, according to an internal memo by Chief Executive Officer David Sacks seen by Reuters. It offers software for free and makes money acting as a health insurance broker, working as the middleman between businesses and providers such as Anthem Blue Cross, and charging a broker fee.

  • *Creditors say $11.4 billion in lawsuits should proceed. But that asset is threatened by imminent judgments in New York and Delaware courts from lawsuits filed by several hedge funds, which are also creditors in the bankruptcy, against the Caesars parent seeking a total of $11.4 billion. "The evidence remains undisputed," CEOC lawyer David Zott said in closing...

  • NEW YORK, June 13- Gawker Media LLC asked a U.S. bankruptcy court judge on Monday for permission to borrow up to $22 million from an affiliate of buyout firm Cerberus Capital Management LP to help it through its sale process, according to a court filing. Media company Ziff Davis LLC has entered into an agreement to buy Gawker for $90 million, setting the floor for an...

  • *House has passed Puerto Rico bill, Senate has yet to act. WASHINGTON, June 13- The Supreme Court on Monday refused to revive a Puerto Rico debt-restructuring law, putting the U.S. territory at risk of a messy default unless Congress this month passes legislation to help the Caribbean island survive its crippling fiscal crisis. The White House has urged the Senate...

  • *House has passed Puerto Rico bill, Senate has yet to act. WASHINGTON, June 13- The Supreme Court on Monday refused to revive a Puerto Rico debt-restructuring law, putting the U.S. territory at risk of a messy default unless Congress this month passes legislation to help the Caribbean island survive its crippling fiscal crisis. The White House has urged the Senate...

  • WASHINGTON, June 13- The U.S. Supreme Court on Monday rejected Puerto Rico's bid to revive a law that would have let the U.S. territory cut billions of dollars in debt at public utilities, delivering a setback to the Caribbean island's efforts to withstand a fiscal crisis. The court ruled 5-2 that Puerto Rico's 2014 law known as the Recovery Act conflicts with U.S....

  • PARIS/ BEIJING, June 13- Airbus Helicopters, the world's largest supplier of commercial helicopters, finalised an agreement on Monday to build an assembly line in China as part of a deal to sell 100 H135 helicopters to a local consortium. The deal, first outlined last October, was signed during a visit to China by German Chancellor Angela Merkel.