Leadership Business Events

More

  • March 30- SandRidge Energy Inc said on Wednesday it had engaged advisers to evaluate options including a private restructuring or reorganization under Chapter 11.. Oklahoma City- based SandRidge, which reported results on Tuesday after delaying the filing, had about $3.63 billion in total debt as of Dec. 31. SandRidge, which produces oil and gas from shale...

  • March 30- SandRidge Energy Inc said on Wednesday it had engaged advisers to evaluate options including a private restructuring or reorganization under Chapter 11.. The company said there was substantial doubt about its ability to continue as a going concern. A more than 60 percent fall in oil prices since mid-2014 has eroded cash flows at several oil and gas...

  • MOSCOW, March 30- Russian Economy Minister Alexei Ulyukayev said on Wednesday he supported a decision to restructure state development bank VEB's debts to the central bank as part of rescue measures for the troubled lender. Prime Minister Dmitry Medvedev told VEB's supervisory board on Tuesday that the government would provide 150 billion roubles to...

  • The planemaker will reduce 1,600 positions in the commercial airplanes division through voluntary layoffs, while the rest of the cuts are expected to be completed by leaving open positions unfilled, spokesman Doug Alder said. Boeing will also cut about 10 percent of the approximately 5,700 jobs in its test and evaluation division, which conducts flight and...

  • LAPPEENRANTA, Finland, March 30- It has created a modest 200 jobs in a Finnish forestry industry that has lost around 20,000 in the past decade, but UPM-Kymmene's new biofuels plant offers long-awaited growth and hope. But the new plant, a global first, is already breaking even after little more than a year in operation in the eastern town of Lappeenranta; its...

  • The planemaker will reduce 1,600 positions through voluntary layoffs, while the rest are expected to be done by leaving open positions unfilled, spokesman Doug Alder said. In February, Ray Conner, chief executive of Boeing's airplane business, warned employees that job cuts were necessary to "win in the market, fund our growth and operate as a healthy business."

  • *UK arm's performance deteriorates sharply- Tata. MUMBAI, March 30- India's Tata Steel, Britain's largest steelmaker, is considering the sale of its entire UK business to stem heavy losses, a move that would draw a line under its almost decade-long foray into Britain's declining steel industry. Blaming high manufacturing costs, domestic market weakness and...

  • MUMBAI, March 30- India's Tata Steel, Britain's largest steelmaker, is considering the sale of its entire UK business to stem heavy losses, a move that would draw a line under its almost decade-long foray into Britain. After a marathon board meeting in Mumbai, the Indian steel giant said in a statement in the early hours of Wednesday that the financial performance...

  • WASHINGTON/ SAN JUAN, March 29- A draft of a bill to steer Puerto Rico through its economic crisis would incorporate key elements of U.S. bankruptcy law, a blow to creditors who have long lobbied to keep the island's debt talks out of court. Puerto Rico faces $70 billion in debt, including major bond payments due in coming months. The bill "provides Puerto Rico with...

  • *Russia selling off state assets to fill budget holes. MOSCOW, March 29- Swiss banks UBS and Credit Suisse are interested in advising the Russian government on several privatisations as long as the deals do not violate sanctions, three banking sources told Reuters. Bankers have previously told Reuters that Western investments banks with Russian operations...

  • March 28- Sears Holdings Corp Chief Executive Eddie Lampert has acquired a portion of the company's new $750 million loan in his latest bet on the parent of Sears department stores and Kmart discount shops, people familiar with the matter said. The loan helps Sears pay down some of its older debt at a time when shoppers are moving away from malls in favor of...

  • March 27- Dell Inc is set to announce an agreement on Monday to sell its non-core information technology consulting division to Japan's NTT Data Corp for $3.5 billion, people familiar with the matter said on Sunday. The move will allow U.S. computer maker Dell to trim some of the $43 billion in debt it is taking on to fund its pending cash-and-stock acquisition of...

  • SAO PAULO, March 24- A group of unidentified Oi SA bondholders has hired Moelis& Co to advise on a plan by Brazil's most indebted phone carrier to restructure part of its 55 billion reais in obligations, a source with direct knowledge of the matter said on Thursday. The group owns about $2.5 billion in Oi notes, said the source, who requested anonymity to speak freely...

  • HONG KONG, March 24- Bohai Steel Group's 2017 bonds held steady on Thursday, after bouncing from lows following reports the Chinese state-owned steelmaker was planning to restructure $29.61 billion in debt. China's steelmakers are in the eye of a storm as Beijing moves to slim down bloated industries, including steel and coal, to make the economy more efficient...

  • *Possible sale of near 20 pct stake in Yum China- sources. Yum plans to spin off its 6,900 restaurants in China, which account for about half of the company's total sales, by the end of 2016. Yum China will list on the New York Stock Exchange, and possibly in Hong Kong. Yum Brands Inc, the home of KFC and Pizza Hut, has been falling behind rival McDonald's Corp as the pair...

  • SINGAPORE/ HONG KONG, March 24- Private equity firm Hopu Investments is among the investors that Yum Brands Inc is in talks to sell a minority stake in its China unit to, sources familiar with the matter told Reuters. KKR& Co is other firm is in talks about buying a near 20 percent stake that Yum is looking to sell in its China unit, which is valued about $10 billion, the...

  • March 23- The Oklahoma City Public Schools District will eliminate 208 classroom teaching positions to help grapple with a $30 million revenue shortfall, the district's top official said on Wednesday. Eliminating the teaching positions will save the state's largest school district roughly $8 million, Superintendent Rob Neu said in a memo to teachers.

  • *Yum Brands up on talks to sell stake in China business. March 23- Wall Street closed lower on Wednesday as oil and materials share prices dropped while investors remained cautious a day after deadly bombing attacks in Belgium. "That's basically what's leaning on the market today," said Peter Cardillo, Chief Market Economist at First Standard Financial in New York.

  • *Yum Brands up on talks to sell stake in China business. March 23- Falling oil and materials prices dragged the benchmark S&P 500 index lower for the year on Wednesday, while investors remained cautious a day after deadly bombing attacks in Belgium. "That has caused somewhat of a headwind for stocks," said Bucky Hellwig, senior vice president at BB&T Wealth...

  • LONDON, March 23- Credit Suisse's announcement on Wednesday that it will lay off thousands more employees from its trading operations shows how much ground Europe's big banks are losing to U.S. rivals in financial market trading. Last year, European banks grossed $26 billion from FICC while the U.S. banks made $43 billion, the data showed, meaning Europe's 26...