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  • *Deal could grow by $500 mln to meet more Telefonica payments. HONG KONG, May 8- Hutchison Whampoa Ltd said it plans to sell a one-third stake in its British mobile phone business for $4.3 billion to five investors- a move that will help the Hong Kong ports-to-telecoms group fund its boldest bet in Europe yet. Hutchison, owned by billionaire Li Ka- shing, agreed in...

  • Citi sold its loan to Solus Alternative Asset Management, the sources said. Solus replaced Citi in an April 30 forbearance agreement with PREPA's lenders posted on the website of Puerto Rico's Government Development Bank. Citi's $146 million loan was part of a larger credit line of around $700 million, which PREPA uses to buy oil.

  • HONG KONG, May 8- Hutchison Whampoa Ltd has agreed to sell a one-third stake in its British mobile phone business for $4.3 billion to a group of investors including Singaporean and Abu Dhabi sovereign wealth funds. Singapore's GIC Pte, the Abu Dhabi Investment Authority, the Canada Pension Plan Investment Board and Brazilian investment bank Grupo BTG Pactual...

  • TORONTO, May 7- Canadian telecom company Manitoba Telecom Services Inc said on Thursday it would cut a quarter of its headcount within its Allstream division, reduce capital expenditures and slash its annual dividend following a strategic review. Low interest rates and a spiraling defined-benefit pension bill have stung the Winnipeg- based company, which...

  • *NAB plans to list Clydesdale Bank by end of year. SYDNEY/ LONDON, May 7- National Australia Bank plans to raise $4.4 billion from investors after being told by Britain's financial regulator to provide $2.6 billion in capital support to its UK business before a planned demerger. NAB said on Thursday it will sell between 20 to 30 percent of its British business, which...

  • PYEONGTAEK, South Korea, May 7- Samsung Electronics Co Ltd said on Thursday its new $14 billion South Korean chip plant, which is expected to help drive growth as smartphone earnings slow, will start production sometime in the first half of 2017.. The world's No.2 chip maker by revenue did not specify what products will be made at the new production line, which will...

  • SYDNEY, May 7- National Australia Bank, the country's top lender by assets, on Thursday said it plans to raise A $5.5 billion in a rights issue as it looks to demerge and float its troubled British unit by the end of the year. NAB's UK business, which includes Yorkshire and Clydesdale bank branches, has been a persistent thorn in its side, with charges for bad and...

  • May 6- U.S. fertilizer producer CF Industries reported lower first-quarter profit on Wednesday, with the drop reflecting a one-time gain a year ago from the sale of its phosphate business. Net earnings fell to $231 million or $4.79 per share from $708.5 million or $12.90 per share a year earlier. Net sales dipped 16 percent to $954 million, reflecting the sale of...

  • May 7- "Farmville" creator Zynga Inc reported higher-than-expected quarterly bookings as titles such as "Words With Friends" attracted more gamers, and the company said it would cut 364 jobs as it tries to turn around its business. San Francisco- based Zynga said it would cut studio jobs, including contractors, and implement other cuts to save $100 million on an...

  • May 7- Zynga Inc, creator of "FarmVille," reported higher-than-expected quarterly bookings of $167.4 million as titles such as "Words With Friends" and " Zynga Casino" attracted more gamers. Zynga's net loss narrowed to $46.5 million, or 5 cents per share, from $61.2 million, or 7 cents per share, a year earlier. Total revenue rose to $183.3 million from $168.0 million.

  • By Silvia Antonioli and Morag MacKinnon. LONDON/ PERTH, May 6- BHP shareholders overwhelmingly approved the spin-off of new mining and metals group South32, clearing the way for a listing this month that will test investor sentiment towards the battered mining sector. More than 98 percent of votes cast at meetings in Perth and London on Wednesday were in favour...

  • LONDON, May 6- BHP Billiton shareholders approved the spin-off of the global miner's smaller assets into South32 on Wednesday, paving the way towards a listing on May 18.

  • *Liaoning province slashed its 2015 job creation target. BEIJING, May 6- As growth in China's sagging economy looks on the verge of spilling below 7 percent, officials worried about a spike in unemployment are pulling out all the stops to avoid mass lay-offs. The measures appear to be working for now, said a senior economist at the Development Research Centre, a...

  • CHICAGO, May 5- Hormel Foods Corp unit Jennie-O Turkey Store will temporarily lay off 233 workers at a Minnesota plant because an outbreak of bird flu has reduced the number of turkeys available for processing, the company said on Tuesday.

  • May 5- Animal health products maker Zoetis Inc said it plans to cut up to a quarter of its workforce and exit nearly 40 percent of its manufacturing plants in its first major restructuring since being spun off from Pfizer Inc two years ago. The restructuring comes a month after activist investor Pershing Square seated their second nominee on Zoetis's board in...

  • Nokia could decide to keep navigation unit - chairman Tuesday, 5 May 2015 | 10:39 AM ET

    The Finnish company last month confirmed it was considering a possible divestment of the business after announcing an all-share take-over of network gear rival Alcatel-Lucent. "This is the right time for the review, not only because of the Alcatel-Lucent deal but also because navigation markets have changed in the last years," he said in a speech at the...

  • NEW YORK, May 4- A company that distributed films such as " Major League" and "Ace Ventura" was cleared to exit bankruptcy on Monday after a U.S. judge criticized a federal official for being too devoted to legal doctrine in trying to block the move. Judge Shelley Chapman, in New York, approved the settlement, under which bankrupt Inverness Distribution Ltd will repay...

  • May 4- Corinthian Colleges Inc, the for-profit college operator hamstrung by federal and state investigations, filed for bankruptcy in Delaware on Monday, about a week after announcing it would shutter its remaining campuses and cease operations. In April, the Department of Education fined Corinthian $30 million for misrepresenting job placement rates to...

  • WASHINGTON, May 4- The U.S. Supreme Court on Monday ruled against a Massachusetts man battling his mortgage lender over a bankruptcy plan in a case in which the Obama administration and even Bank of America Corp had backed the homeowner. On a 9-0 vote, the court said Louis Bullard, who owes community bank Blue Hills Bancorp Inc $387,000 for the mortgage on a property...

  • KUALA LUMPUR, May 1- Malaysia's national carrier Malaysia Airlines is planning to sell off some of its aircraft as part of its restructuring efforts, aviation news website Flightglobal reported. After two air disasters and years of losses, the national carrier was taken private last year by Malaysian sovereign wealth fund Khazanah Nasional Bhd under a...