Leadership Business Events

More

  • MOSCOW, Dec 10- Indebted Russian miner Mechel said on Thursday it had called an extraordinary general meeting for March 4 when it expected shareholders would be able to vote on debt restructuring deals with its banks. However Sberbank, one of Mechel's key creditors, said in a statement it was still discussing debt restructuring with Mechel and was yet to reach a...

  • SAO PAULO, Dec 10- Brazil sugar and ethanol producer Tonon Bioenergia SA, which operates three mills with a total capacity to process 8.2 million tonnes of cane per year, has sought court protection against creditors, the company said late on Wednesday. Tonon said its debt, largely denominated in dollars, soared following the recent weakening of Brazil's...

  • WILLISTON, N.D., Dec 9- North Dakota's oil regulator on Wednesday identified Lime Rock Resources as the buyer of Occidental Petroleum Corp's North Dakota oil operations, confirming what Oxy's executives had yet to disclose publicly. Reuters first reported in October that Oxy had agreed to sell all of its North Dakota shale oil acreage and assets to Lime Rock, a...

  • Puerto Rico, wrestling with $72 billion of debt and a faltering economy, defaulted on part of its debt in August and is trying to restructure its borrowings. Democrats in Congress have pushed for Puerto Rico to be allowed access to U.S. bankruptcy laws to solve its fiscal crisis, however, Republicans have been skeptical and have argued for oversight.

  • *Will trim 150 billion euros in assets by 2020. AMSTERDAM, Dec 9- Dutch cooperative bank Rabobank plans to lay off nearly a fifth of its workforce to boost profit and prepare for tougher European banking guidelines, it said on Wednesday. The bank said it would shed 9,000 of its 47,000 staff by 2018 and would cut 150 billion euros worth of assets from its balance sheet...

  • UPDATE 1-'Angry Birds' maker Rovio limbers up for M&A Wednesday, 9 Dec 2015 | 9:51 AM ET

    HELSINKI, Dec 9- Rovio Entertainment Ltd, the maker of hit mobile phone game Angry Birds, has its eye on an eventual merger or acquisition following its restructuring this year, Kaj Hed, the Finnish firm's chairman and biggest shareholder said on Wednesday. "There is a clear need for some consolidation to take place here, and that is something I'm interested in," Kaj...

  • SAO PAULO, Dec 9- Brazilian iron ore miner Vale SA said late on Tuesday in a filing it had completed the sale of four very large ore carriers, also known as Valemax class ships, to a consortium lead by ICBC Financial Leasing. ICBC is a subsidiary of the Industrial and Commercial Bank of China Limited. The deal was valued at $423 million and the resources were...

  • SAN FRANCISCO/ BENGALURU, Dec 8- Yahoo Inc is weighing a sale of its core Internet business and will not sell its stake in Chinese e-commerce firm Alibaba Group Holding Ltd, CNBC reported, with an announcement as soon Wednesday. Yahoo could not immediately be reached for comment. Yahoo is also considering what to do with its stake in Yahoo Japan, according to the CNBC...

  • Dec 8- Wireless venture LightSquared LP said it reached a settlement on Tuesday with Deere& Co over spectrum use that will provide support for the company as it emerges from bankruptcy. The company was planning to build a nationwide wireless network when the FCC proposed to suspend indefinitely its terrestrial spectrum authorizations, pushing it into...

  • SAN FRANCISCO/ BENGALURU, Dec 8- Yahoo Inc is weighing a sale of its core business and will not sell of its stake in Alibaba Group Holding Ltd, CNBC reported, a sharp reversal that came after pressure from an activist investor. Yahoo's shares were up nearly 2 percent in after hours trading. Yahoo faced pressure from activist investor Starboard Value LP to sell the...

  • *Abengoa halts construction of 6,300 km of new power lines. SAO PAULO, Dec 8- Spanish conglomerate Abengoa, teetering on the verge of bankruptcy, has halted construction of power transmission lines in Brazil, a potential setback for the South America nation's bid to emerge from its worst energy crisis in 14 years. Abengoa, which opened pre-insolvency proceedings...

  • WASHINGTON, Dec 8- The International Monetary Fund will change its lending rules to allow it to keep supporting countries if they fail to repay official creditors, a change that would help Ukraine if it misses payments on a $3 billion debt to Russia. Russia refused to allow the Eurobond, which matures on Dec. 20, to be included in Ukraine's recent debt restructuring,...

  • Dec 8- L-3 Communications Holdings Inc said it would sell its government services division, National Security Solutions, to smaller defense contractor CACI International Inc for $550 million in cash. L-3 and CACI finalized the terms of the agreement early Tuesday morning, aided by strong ties between Chris Kubasik, L-3's chief operating officer, and Ken...

  • Dec 8- L-3 Communications Holdings Inc said it would sell its government services division, National Security Solutions, to smaller defense contractor CACI International Inc for $550 million in cash.

  • HAVANA, Dec 7- Cuba is near a deal with 15 rich creditor nations of the Paris Club to restructure $16 billion in debt stemming from a 1986 default, with creditors expected to forgive most of the amount owed, diplomats close to the talks said. Cuba has secured investment agreements from creditors in previous debt negotiations and is seeking similar commitments...

  • Dec 7- Fuhu Holdings Inc, a maker of kid-friendly computer tablets, has filed for Chapter 11 bankruptcy protection, according to a court filing on Monday. The El Segundo, California- based startup, which Forbes magazine called America's most promising company in 2014, said it had assets and liabilities of $10 million- $50 million. The case is in U.S. Bankruptcy Court,...

  • LONDON, Dec 7- British outsourcing firm Serco said on Monday it expected revenue and trading profit to fall in 2016, due to the sale of its offshore call center business and a number of lost contracts. Serco has suffered over the past few years, following problems with government contracts that included overcharging the British government for monitoring...

  • NEW YORK, Dec 4- The U.S. Supreme Court on Friday agreed to hear Puerto Rico's bid to reinstate a law that would allow restructuring of the U.S. territory's public agencies as the Caribbean island grapples with its huge debt load. DAVID TAWIL, PRESIDENT, MAGLAN CAPITAL, NEW YORK. "I think that Congress is not about to do anything.

  • WASHINGTON, Dec 4- The U.S. Supreme Court on Friday agreed to hear Puerto Rico's bid to reinstate a law that would allow restructuring of the U.S. territory's public agencies as the island grapples with its huge debt load. Puerto Rico passed the law to give certain public corporations, with around $20 billion in debt, the ability to restructure financially in an...

  • WASHINGTON, Dec 4- The U.S. Supreme Court on Friday agreed to hear Puerto Rico's bid to reinstate a law that would allow restructuring of the U.S. territory's public agencies as the island grapples with its huge debt load. The high court will decide whether the 2014 law, known as the Recovery Act, conflicts with U.S. federal bankruptcy law. The court also took up a...