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  • June 18- News Corp, owner of the Wall Street Journal, is carrying out a major reorganization at its Dow Jones news publishing unit that will involve job cuts and shifting resources to digital media. Dow Jones, which has about 5,000 employees worldwide, will close bureaus in Prague and Helsinki and cut jobs in bureaus in Europe and Asia, Gerard Baker, editor-in-chief...

  • June 18- News Corp, owner of the Wall Street Journal, is carrying out a major reorganization at its Dow Jones news publishing unit that will involve job cuts and shifting of resources into digital media, the Wall Street Journal reported. Dow Jones will close bureaus in Prague and Helsinki and cut jobs in bureaus in Europe and Asia, Gerard Baker, editor in chief of Dow...

  • June 18- PBF Energy Inc agreed to pay $322 million to acquire the 189,000- barrel-per-day Chalmette oil refinery in Louisiana and related assets from Exxon Mobil Corp and Venezuela's national oil company, Petroleos de Venezuela SA. The purchase marks PBF's entrance into the U.S. Gulf Coast, where it had lost out on a bid in 2011 for Texas City Refinery, then owned...

  • LONDON, June 18- Asset management company Baillie Gifford, oil producer Dragon Oil's largest independent investor, said an increased takeover offer from majority owner Emirates National Oil Co "materially undervalued" the company. ENOC, which owns 54 percent of Dragon Oil, increased its bid to buy out minority shareholders to 750 pence per share on Tuesday,...

  • June 18- Rig provider Hercules Offshore Inc said it had entered into a restructuring agreement with a majority of its debtors, which would lead to a Chapter 11 filing within the next few weeks. About $1.2 billion of Hercules' notes will be converted into new equity, leaving existing shareholders with 3.1 percent of the company's stock, Hercules said in a...

  • ST PETERSBURG, Russia, June 18- Russia's second-largest bank by assets, VTB, said on Thursday that miner Mechel had agreed to the bank's terms for restructuring its debt. Mechel, controlled by businessman Igor Zyuzin, has been discussing a debt restructuring with its main lenders, including VTB, Sberbank and Gazprombank. VTB's first deputy chairman, Yuri Soloviev,...

  • MUNICH/ BERLIN/ VIENNA, June 17- Germany's MAN SE could cut as many as 2,000 jobs at its main trucks division as the Volkswagen-owned company slims operations under a wider reorganisation of production, company and union sources said. VW, Europe's largest vehicle manufacturer, has spent billions of euros over the past decade on expanding stakes in MAN and Scania...

  • WILMINGTON, Del, June 16- Bondholders of gun maker Colt ripped into the bankrupt company's private equity owner in a court hearing on Tuesday, saying the firm sped up its decline by starving it of cash and investment. A bondholder attorney told Judge Laurie Silverstein in Wilmington, Delaware, that Sciens was to blame for Colt's inability to compete.

  • June 16- Casino company Caesars Entertainment Corp was sued for more than $6 billion by a representative for noteholders who are the lone creditors backing its plan to overhaul $18 billion in debt. The lawsuit was brought by UMB Bank, which is the indenture trustee for several issuances of first-lien notes, and not by actual noteholders, which include the...

  • June 16- Casino company Caesars Entertainment Corp was sued for more than $6 billion by a representative for noteholders who are the lone creditors backing its controversial plan to overhaul $18 billion in debt. The lawsuit was brought by UMB Bank, which is the indenture trustee for several issuances of first-lien notes, and not by the actual noteholders, which...

  • MELBOURNE, Fla., June 15- Brazilian aircraft maker Embraer SA will build an airplane seat plant in Titusville, Florida, expanding its facilities in a region hit hard by the shutdown of NASA's space shuttle program four years ago, officials said on Monday. Located just west of NASA's Kennedy Space Center in Central Florida, the new plant will make high-end seats for...

  • An affiliate of private equity firm Sciens Capital Management has proposed buying Colt Defense by assuming obligations including up to $105 million in outstanding loans and as much as $20 million in new loans, court documents filed on Monday show. That is pretty much what bondholders proposed in May, according to the filings in the U.S. Bankruptcy Court in...

  • June 15- Apparel retailer Gap Inc said it would close a quarter of its Gap specialty stores in North America over the next few years, including 140 this year, and cut about 250 jobs at its headquarters. The company also expects to incur one-time costs of $140 million to $160 million, primarily in the current quarter. After the closures, the company will have 500...

  • MELBOURNE, Fla., June 15- Brazilian aircraft manufacturer Embraer SA will build an airplane seat manufacturing plant in Titusville, Florida, expanding its facilities in the region hit hard by the shutdown of NASA's space shuttle program four years ago, officials said on Monday. Located just west of NASA's Kennedy Space Center in Central Florida, the new plant...

  • WILMINGTON, Del, June 15- The U.S. Supreme Court ruled on Monday that bankruptcy attorneys must bear the expense of defending their fees, which could make it harder for lawyers to get paid for their often-costly Chapter 11 work. Baker Botts was eventually awarded $117 million for its work, which was considered particularly successful because creditors were...

  • DUBAI, June 15- Qatar Investment Authority, one of the world's most aggressive sovereign wealth funds, will set asset allocation targets for the first time and restructure internal decision-making, sources say, in response to a drop in oil prices that has crimped available funds as competition for assets grows. The sources, who all either work in Qatar or for...

  • Colt Defense files for bankruptcy protection Monday, 15 Jun 2015 | 7:21 AM ET

    Famed U.S. gun maker Colt Defense LLC said it filed for Chapter 11 bankruptcy protection.

  • Famed U.S. gun maker Colt Defense LLC said it filed for Chapter 11 bankruptcy protection.

  • Talks on ending the deadlock between Greece and its international creditors broke up in failure, with European leaders venting frustration as Athens stumbled towards a debt default that threatens its future in the euro. He said the only way Greece would be able to repay its debts was if there was a restructuring and a deal could be possible if Chancellor Angela...

  • PARIS, June 14- Eileen Drake, the new chief executive of Aerojet Rocketdyne Holdings Inc, on Sunday vowed to keep a "huge focus" on cutting overhead costs in coming years, including a 10- percent workforce reduction and possible facility closings. Drake, a former Army helicopter pilot and executive with Pratt& Whitney, a unit of United Technologies Corp, joined...