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  • May 18- Halcón Resources Corp, which produces oil in Texas and North Dakota, said on Wednesday it plans to file for a prepackaged bankruptcy that would wipe out $1.8 billion in debt and help it survive the drop in crude prices. Shares of the Houston- based company fell 55 percent to 44 cents in after-hours trading. Together with several former colleagues from...

  • CHICAGO, May 18- Caesars Entertainment Corp has offered $4 billion in a new plan to help its casino operating unit emerge from Chapter 11, a lawyer for the unit told a U.S. "In terms of recoveries to creditors, they are substantially improved down the line" under the new plan, lawyer David Seligman said in Chicago bankruptcy court on behalf of the Caesars unit on...

  • NEW YORK, May 18- The trustee liquidating Lehman Brothers Holdings Inc's defunct brokerage on Wednesday asked a federal bankruptcy judge for permission to distribute another $677 million to unsecured creditors. The proposed fourth payout by trustee James Giddens, which requires court approval, would boost the recovery by the unsecured Lehman Brothers Inc...

  • CHICAGO, May 18- A new proposal for the bankrupt operating unit of Caesars Entertainment Corp to emerge from Chapter 11 includes a $4 billion contribution from its parent, a lawyer for the unit told a U.S. An independent examiner who investigated those claims said in March that Caesars Entertainment and its private equity backers, Apollo Global Management and...

  • May 18- Fitbit Inc said it bought wearable payment technology assets from Silicon Valley- based startup Coin, as it looks to allow users to make payments through its popular line of wearable fitness devices. Coin makes devices that use near-field communication chips. The terms of the deal, which was completed on May 12, were not disclosed.

  • RIYADH/ DUBAI, May 18- Construction firm Saudi Binladin Group has secured a 2.5 billion riyal loan from local banks to ease its financial pressures, banking sources aware of the matter said on Wednesday. Arab National Bank and Saudi British Bank are providing the loan, which Binladin is using to cover redundancy costs for workers it is laying off, back salaries and...

  • FRANKFURT, May 18- Chinese home appliance maker Midea Group made an offer on Wednesday to buy German factory robot manufacturer Kuka AG, the latest bid by a Chinese investor to gain control of cutting-edge German industrial technology. The 115 euro per share offer values Kuka at around 4.5 billion euros and represents a premium of 36 percent to Kuka's share...

  • May 18- Fitbit Inc said it bought wearable payment technology assets from Silicon Valley- based startup Coin, as it looks to develop mobile payment technology for its wearable fitness devices. The terms of the deal, which was completed on May 12, were not disclosed. Fitbit said on Wednesday that there were no plans to introduce the technology to its devices this...

  • FRANKFURT, May 18- Chinese home appliance maker Midea Group made an offer on Wednesday to buy German factory robot manufacturer Kuka AG, the latest bid by a Chinese investor to gain control of cutting-edge German industrial technology. The 115 euro per share offer values Kuka at around 4.5 billion euros and represents a premium of 36 percent to Kuka's share...

  • *China says to maintain steel export tax rebates. *U.S. a small export market for China steel. SHANGHAI/ WASHINGTON, May 18- China said it would persist with controversial tax rebates to steel exporters to support the sector's painful restructuring programme, defying a United States move to impose punitive import duties on Chinese steel products.

  • May 17- Job cuts and constrained hiring are expected to continue on Wall Street in 2016, with bonuses likely to be lower than in 2015 due to difficult market conditions, according to a study by compensation consultant Johnson Associates. The forecast for 2016 follows a year in which Wall Street added jobs for the first time in five years and the bonus pool...

  • May 17- Directories publishers Dex Media Inc and SuperMedia Inc filed for voluntary Chapter 11 bankruptcy protection in a Delaware court on Monday. SuperMedia, earlier known as Idearc Inc, and Dex Media, formerly R.H. Donnelley Corp, exited their first bankruptcy proceedings in 2010.. The cases are in U.S. Bankruptcy Court, District of Delaware; Case No: 16-11210...

  • MONTERREY, Mexico, May 16- Altos Hornos de Mexico, one of Mexico's largest steelmakers, said on Monday a judge approved its $1.7 billion debt restructuring plan, bringing to an end a 17- year suspension of payments. AHMSA, which was barred from the local bourse in 1999 after it stopped paying its creditors, said a majority of debt-holders agreed to swap debt for...

  • SANTIAGO, May 16- Chilean forestry group Masisa, one of Latin America's largest wood panel manufacturers, is strengthening its business in Mexico, and may be willing to invest more in Argentina, the company's president said on Monday. The company expects to start up a new plant in Durango, Mexico, with an annual production of 240,000 cubic meters in a month's time,...

  • *SandRidge sets pre-packaged bankruptcy deal. *SandRidge has assets of $7.0 billion, debt of $4.0 billion. As of March 31, SandRidge estimated it had total assets of $7.0 billion and total debt of $4.0 billion, and Breitburn listed assets of $4.7 billion and liabilities of $3.4 billion.

  • *SandRidge has assets of $7.01 bln, debt of $4 bln. *Breitburn lists assets, liabilities of $1 bln- $10 bln. SandRidge said in a court filing that it had total assets of $7.01 billion and total debt of $4 billion as of March 31.

  • May 16- U.S. oil and gas producer SandRidge Energy Inc and some of its units filed for bankruptcy protection on Monday, the latest company to fall victim to weak oil prices. SandRidge said in a court filing that it had total assets of $7.01 billion and total debt of $4 billion as of March 31. The case is in U.S. Bankruptcy Court, District of Southern Texas, Case No:...

  • *Jobs transferred from UK to cut costs. LONDON, May 16- HSBC, Europe's largest bank, started laying off 840 information technology workers in Britain on Monday, the first big tranche of redundancies under a restructuring plan that will eliminate 8,000 British jobs by the end of next year. "As part of a global relocation exercise, around 840 non-customer-facing IT...

  • LONDON, May 16- HSBC, Europe's largest bank, were to begin laying off 850 information technology workers in Britain on Monday, the first big tranche of redundancies under a restructuring plan that will eliminate 8,000 British jobs by the end of next year. The employees are based in London, Sheffield, Leeds and Birmingham and all the jobs will disappear by the end of...

  • May 16- Breitburn Energy Partners LP and some of its units filed for restructuring under Chapter 11 of the U.S. bankruptcy code on Monday, the latest company to face the brunt of low commodity prices. The oil and gas master limited partnership said it secured a $75 million debtor-in-possession financing, in addition to cash from its operations and cash on hand, to...