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Leadership Business Events

  • SAO PAULO, Dec 16- Ecovix Engevix Construções Oceánicas SA and five subsidiaries have filed for bankruptcy protection in a federal commercial court, succumbing to a debt burden of 8 billion reais and a plunge in shipbuilding. In a statement on Friday, Ecovix said Banco Brasil Plural SA and law firm Felsberg Advogados will advise it on bankruptcy protection...

  • Dec 16- U.S. oilfield services firm Forbes Energy Services Ltd is preparing to file for bankruptcy as soon as this month, as it struggles with approximately $300 million in debt, people familiar with the matter said on Friday. Competing oilfield services firms Key Energy Service Inc, C&J Energy Services Ltd and Basic Energy Services Inc have all filed for...

  • SAO PAULO, Dec 15- Brazil's oil company Petróleo Brasileiro SA has agreed to sell its 49 percent stake in the sugar and ethanol joint venture Nova Fronteira Bioenergia SA to partner São Martinho SA, both companies said in securities filings on Thursday. Petrobras said in the filing that it will attribute a $133 million value to the deal. The sale is one of the five...

  • LONDON, Dec 15- Some of the top banks in Europe have said this year that they plan to cut a total of fewer than 50,000 jobs, a sharp drop from the number announced in 2015. Data compiled by Reuters shows 17 of Europe's biggest banks have announced a total of about 46,000 staff cuts since the beginning of the year- 65 percent lower than the 130,000 job losses announced by...

  • LONDON, Dec 15- Job cuts announced by European banks have tumbled in 2016, as they work through a backlog of layoffs unveiled in previous years and struggle to find new areas where they can trim staff without threatening profitable operations. Some industry watchers say lenders might even recruit a little next year overall, provided the market rally following...

  • President-elect Donald Trump must divest his luxury Washington hotel in a building leased from the federal government because the arrangement violates conflict-of-interest rules, congressional Democrats said on Wednesday. The General Services Administration, which manages property owned by the federal government, including the Old Post Office...

  • Dec 14- General Electric Co said on Wednesday it would sell its $3 billion industrial solutions business, which makes electrical equipment, as part of a push to focus on its core businesses. The industrial conglomerate expects to raise about $4 billion from the sale of the unit as well as the previously announced sale of its water business, GE said in an investor...

  • PARIS, Dec 14- French utility EDF's board has approved the partial sale of RTE, the company's high-voltage power grid unit, to state bank Caisse des Depots, the companies said in a statement. The sale of RTE is part of EDF's plan to sell about 10 billion euros worth of assets by 2020, in an effort to reduce debt and free funds for the utility's 18 billion-pound project...

  • President-elect Donald Trump must divest his luxury Washington hotel in a building leased from the federal government because the arrangement violates conflict-of-interest rules, congressional Democrats said on Wednesday. The General Services Administration, which manages property owned by the federal government, including the Old Post Office...

  • President-elect Donald Trump must divest his luxury Washington hotel in a building leased from the federal government because the arrangement violates conflict-of-interest rules, congressional Democrats said on Wednesday. The General Services Administration, which manages property owned by the federal government, including the Old Post Office...

  • President-elect Donald Trump must divest his luxury Washington hotel in a building leased from the federal government because the arrangement violates conflict-of-interest rules, congressional Democrats said on Wednesday. The General Services Administration, which manages property owned by the federal government, including the Old Post Office that...

  • PARIS, Dec 14- French utility EDF's board has approved the partial sale of the firm's high-voltage power grid unit RTE to state bank Caisse des Depots, a source familiar with the situation said. The sale of RTE is part of EDF's plan to sell about 10 billion euros worth of assets by 2020 in a bid to reduce debt and free up funds for the utility's 18 billion pound project...

  • PARIS, Dec 14- EDF's board has approved the partial sale of the French state-controlled utility's high-voltage power grid to state bank Caisse des Depots, a source familiar with the situation said on Wednesday. "The partial sale of RTE has been approved by a majority of the board," the source said. In July, EDF had entered exclusive talks with state-owned bank Caisse...

  • NEW YORK/ WASHINGTON, Dec 13- Wells Fargo would damage financial markets if it were pushed to bankruptcy, U.S. regulators said on Tuesday as they imposed restrictions on the bank's business. On Tuesday, regulators determined that Wells Fargo's living will still fell short and that the San Francisco- based bank would be sanctioned, the Federal Deposit Insurance...

  • Wells Fargo was one of five banks to fail an initial assessment in April. On Tuesday, regulators determined that Wells Fargo's living wills fell short and that the San Francisco- based bank would be sanctioned, the Federal Deposit Insurance Corporation said in a statement. Wells Fargo may submit an amended living will by March 31 and regulators may lift...

  • MILAN, Dec 12- Italian energy company Eni will sell a 30 percent stake in its giant Egyptian offshore gas field Zohr to Russia's Rosneft for $1.575 billion, pressing ahead with asset sales to fund investments and offset weak oil prices. "This is a great success for Eni to receive $2.1 billion for a year's work and have major partners to share the risk and capex," said...

  • MILAN, Dec 12- Italian energy company Eni has agreed to sell a 30 percent stake in a giant Egyptian offshore gas field to Russia's Rosneft for $1.575 billion, pressing ahead with asset sales to fund investment amid weak oil prices. Eni, which currently owns 90 percent of the Shorouk concession containing the giant Zohr gas field, said Rosneft would pay $1.125...

  • *UniCredit to book 2.2 bln euros net capital gain. PARIS, Dec 12- French asset manager Amundi has agreed to buy rival Pioneer Investments from Italian bank UniCredit for 3.6 billion euros, extending its reach in Europe and bringing in some much-needed capital for UniCredit. UniCredit's chief executive Jean-Pierre Mustier, a former top banker at Societe...

  • MILAN, Dec 11- Italy's biggest bank by assets UniCredit has reached a deal to sell its asset manager Pioneer to France's Amundi for more than 4 billion euros, a source with knowledge of the matter said on Sunday. The Pioneer sale comes as UniCredit is set to announce on Tuesday a share issue worth up to 13 billion euros in what would be a major test of confidence in...

  • Dec 9- U.S. apparel retailer J. Crew Group Inc is taking steps to negotiate with its creditors about cutting the value of its approximately $2 billion debt load, as its struggles with falling sales, people familiar with the matter said on Friday. A debt restructuring would underscore the challenges the company has faced since it was acquired by private equity...