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Leadership Business Events

  • Trump opened a meeting with GM CEO Mary Barra, Ford CEO Mark Fields and Fiat Chrysler CEO Sergio Marchionne at the White House, saying he wants to see new auto plants built in the United States. GM, Ford and Fiat Chrysler have all announced recent new jobs and investments in the United States, but are still investing in Mexico. Last week, Ford scrapped plans to build a...

  • PARIS, Jan 24- Private-equity backed French clothing retailer Vivarte plans to sell loss-making shoe brand Andre and cut jobs at its Vivarte Services arm as part of larger efforts to restructure the heavily-indebted group, union sources told Reuters. Vivarte, the owner of brands including Kookai, Naf Naf, La Halle and Chevignon, has been owned since 2014 by a...

  • JOHANNESBURG, Jan 24- South African bullion producer Anglogold Ashanti will hold back on job cuts announced last week and will instead redeploy most of the workers within the firm, the National Union of Mineworkers said on Tuesday. "This engagement is ongoing and it remains too early to pre-empt an outcome," said Anglogold spokesman Stewart Bailey.

  • CHICAGO, Jan 23- Peabody Energy Corp's plan to emerge from Chapter 11 bankruptcy faces a "material risk" that the U.S. coal producer could suffer a $1 billion revenue loss due to a disputed lease at the world's largest coal mine, according to an objection filed to its reorganization plan. Oil and gas driller Berenergy Corp and Peabody hold overlapping federal...

  • CHICAGO, Jan 23- U.S. oilfield services company Forbes Energy Services Ltd said it expected to "promptly" emerge from bankruptcy after filing a Chapter 11 plan on Monday with a prepackaged deal to exchange $280 million of debt for equity. In a filing with the U.S. Bankruptcy Court in Houston, Forbes said the slump had reduced demand for its activities, rendering it...

  • CHICAGO, Jan 23- Indiana and several environmental groups are objecting to a plan by Peabody Energy Corp to exit its $8 billion Chapter 11 bankruptcy, citing concerns over how the company will cover about $1 billion in future mine cleanup costs. Indiana and the environmental groups objected to Peabody's failure to disclose how it will finance the future...

  • Gulf carriers who spent years rapidly expanding into markets from South America to Africa are under pressure to adapt to weaker markets, overcapacity and a stronger dollar. The restructuring at Dubai- based Emirates involves moving employees into new positions that has seen staff both promoted and demoted, a spokeswoman said, adding that a "very small number"...

  • NEW YORK, Jan 20- A U.S. bankruptcy court judge granted Avaya Inc approval on Friday to tap $425 million of the $725 million loan proposed to carry the telecommunications company through its restructuring, funds the company said were essential to continue operations. "The company has taken a decisive step to rightsize its balance sheet," Pat Nash, one of the...

  • LONDON, Jan 20- HSBC has begun cutting around 100 senior jobs in its investment banking division worldwide this week, according to sources with direct knowledge of the matter. The latest round of cuts comes as HSBC bankers in its London headquarters face uncertainty as the lender prepares for expected disruption caused by Britain's exit from the European...

  • TOKYO, Jan 20- Japan's Toshiba Corp has begun preparations to sell a minority stake in its core chip business, people with knowledge of the matter said, as it urgently seeks funding to avoid being crippled by an upcoming multi-billion dollar writedown. The industrial conglomerate has distributed non-disclosure agreement forms to various funds including...

  • TOKYO, Jan 20- Japan's Toshiba Corp has begun preparations to sell a minority stake in its core chip business, people with knowledge of the matter said, as it urgently seeks funding to help avoid being crippled by an upcoming multi-billion dollar writedown. The industrial conglomerate has distributed non-disclosure agreement forms to various funds...

  • ST. LOUIS, Jan 19- A U.S. bankruptcy judge denied on Thursday a request by Peabody Energy Corp shareholders to order the appointment of an official equity committee in the coal miner's Chapter 11 restructuring, crushing hopes of a recovery for investors. Bankruptcy Judge Barry Schermer asked why more money should be spent on legal fees when unsecured creditors...

  • Jan 19- Insurance broker Aon Plc is in advanced talks to sell its employee benefits outsourcing unit to buyout firm Clayton Dubilier& Rice LLC for nearly $4.5 billion, people familiar with the matter said on Thursday. The divestiture would undo much of Aon's 2010 acquisition of human resources services provider Hewitt Associates Inc for $4.9 billion,...

  • BEIJING, Jan 19- Tsinghua Unigroup Ltd, China's top state chip manufacturer, revealed plans on Thursday to build a $30 billion memory chip factory as the government seeks to boost local production capacity. The firm is targeting a monthly capacity of 100,000 wafers in phase one of the development which will cost $10 billion and is located in Nanjing.

  • ST. LOUIS, Jan 19- Peabody Energy Corp, the world's largest private-sector coal producer, is squaring off in court with shareholders who claim their stock should not be wiped out in the company's $8 billion Chapter 11 bankruptcy, given a rise in prices for the fuel. Shareholders led by hedge fund Mangrove Partners hope to prove at a hearing in St. Louis on Thursday...

  • *Bidders want court-led turnaround for Japan ops- source. TOKYO, Jan 19- U.S. buyout firm Bain Capital has joined Key Safety Systems in the U.S. auto parts supplier's bid to rescue Takata Corp, a source said, as the Japanese firm struggles for survival after a massive recall linked to its faulty air bags. Shares in Takata closed 17.3 percent lower, falling by their daily...

  • NEW YORK, Jan 18- Puerto Rico's federal oversight board said on Wednesday it was willing to extend key deadlines that would give the debt-laden U.S. territory's government more time to negotiate restructuring deals with holders of its roughly $70 billion in bonds. In addition to its nearly $70 billion in debt from a myriad of public issuers, Puerto Rico is...

  • Jan 18- Puerto Rico's federal oversight board said on Wednesday it was willing to extend key deadlines that would give the debt-laden U.S. territory's government more time to negotiate restructuring deals with holders of some $70 billion in bonds. In a letter to Governor Ricardo Rossello, the oversight board said it "is favorably inclined" to grant the...

  • By Jacob Gronholt-Pedersen and Teis Jensen. COPENHAGEN, Jan 18- Enzymes maker Novozymes will cut 198 jobs and invest more in emerging markets, it said on Wednesday, adding it could time take to recapture past growth rates amid uncertainty over U.S. renewable energy policy and the takeover of a key partner. "This is a new reality for Novozymes," Chief Executive Peder...

  • SYDNEY, Jan 18- Hong Kong's flag carrier Cathay Pacific Airways will cut jobs and consider shifting some flights to its short-haul arm after completing the biggest review of its business in two decades, it said on Wednesday. Will Horton, a Hong Kong- based analyst for aviation consultancy CAPA, described what had been said so far as underwhelming given the scale...