×

Leadership Business Events

  • *Pretax statutory profit $409 mln tops $366 mln consensus. *$215 mln loss from stake in Indonesia bank unit. LONDON/ HONG KONG, Feb 24- Standard Chartered shares fell as much as 5 percent on Friday as the British bank said it would not pay a dividend for 2016 due to restructuring costs, but increased its staff bonus pool by 5 percent.

  • Feb 24- Department store operator J.C. "We believe closing stores will also allow us to adjust our business to effectively compete against the growing threat of online retailers," Chief Executive Officer Marvin Ellison said in a statement. Penney said it expected annual savings of about $200 million from the cost-cutting measures, and would take a related...

  • *Pretax statutory profit $409 mln tops $366 mln consensus. *$215 mln loss from stake in Indonesia bank unit. LONDON/ HONG KONG, Feb 24- Standard Chartered shares fell four percent on Friday as the British lender said it would not pay a dividend for 2016 due to restructuring costs, but increased its staff bonus pool by 5 percent.

  • TOKYO, Feb 24- Toshiba Corp, responding to media reports, said on Friday it was not aware that its U.S. nuclear unit Westinghouse was considering filing for Chapter 11 protection from creditors- an option analysts say could jeopardize the entire group. The Nikkei business daily reported Toshiba was now looking at a potential Chapter 11 filing as one of several...

  • TOKYO, Feb 24- Toshiba Corp said on Friday it was not aware that its U.S. nuclear unit Westinghouse was considering seeking protection from creditors, an option analysts say could put the entire TVs-to-construction conglomerate at risk if exercised now. In theory, it could help the Japanese firm draw a line under problems at Westinghouse that have resulted in a...

  • TOKYO, Feb 24- Japanese conglomerate Toshiba Corp said on Friday it was not aware that its U.S. nuclear unit Westinghouse was considering filing for Chapter 11 bankruptcy protection. A Chapter 11 filing could help Toshiba draw a line under a decade-long U.S. nuclear venture that has pushed the Japanese group to the brink, forcing it to offer a majority stake in its...

  • TOKYO, Feb 24- Toshiba Corp said on Friday it was not aware that its U.S. nuclear unit Westinghouse was considering filing for Chapter 11 bankruptcy protection.

  • Feb 21- Insurance giant American International Group Inc has reached a deal to sell one of its lesser-known assets: a northern Vermont ski slope. Vail Resorts Inc, a Broomfield, Colorado- based company that runs mountain resorts, has signed a $50 million agreement to buy the ski operations of Stowe Mountain Resort from AIG's real-estate business, the resort...

  • Feb 22- A judge has crushed the hopes of a group of investors in Ultra Petroleum Inc, a bankrupt natural gas company, who had sought to collect a $300 million windfall because a clerk entered a court order on the wrong date. Bankruptcy Judge Marvin Isgur approved on Feb. 13 the disclosures for Ultra's plan to emerge from Chapter 11, although his order was not put on the...

  • Feb 22- Creditors of Puerto Rico's sales tax authority have asked a federal court to prevent the U.S. territory from diverting the revenue that guarantees its debt to repay other investors, the latest volley in an escalating battle. Crippled by high poverty and nearly insolvent public health and pension systems, Puerto Rico is trying to restructure $70 billion...

  • SAO PAULO, Feb 22- Brazil's Braskem SA is trimming investments this year as it winds down spending on a new plant in Mexico and cuts back strategic new projects after a bribery settlement hammered earnings last year, according to a Wednesday securities filing. Latin America's largest petrochemical company plans to invest 1.814 billion reais in 2017, down from...

  • SAO PAULO, Feb 22- Ternium SA has agreed to buy Thyssenkrupp AG's CSA steel plant for 1.26 billion euros, ending five years of attempts by the German industrial firm to offload the loss-making Brazilian mill. Including debt, the deal announced by the two companies late on Tuesday gives CSA, the largest foreign investment project ever in Brazil, an enterprise value...

  • The company reported a net loss of $719.9 million, or $6.92 per share, in the fourth quarter ended Dec. 31, compared with a profit of $164.1 million, or $1.60 per share, a year earlier. First Solar said on Tuesday it recorded $728.9 million in charges in the latest quarter related to plans to abandon the Series 5 modules and other restructuring. The company said it...

  • Feb 21- Buyout firm Sycamore Partners has won the auction for the e-commerce business and intellectual property of bankrupt U.S. women's apparel retailer The Limited with a bid of $26.8 million, people familiar with the matter said on Tuesday. Sycamore Partners outbid clothing firm Sunrise Brands LLC in the auction, the people said, asking not to be identified...

  • Feb 21- Insurance giant American International Group Inc has reached a deal to sell one of its lesser-known assets: a northern Vermont ski slope. Vail Resorts Inc, a Brookfield, Colorado- based company that runs mountain resorts, has signed a $50 million agreement to buy the ski operations of Stowe Mountain Resort from AIG's real-estate business, the resort...

  • Feb 21- Canada's ECN Capital Corp said on Tuesday it would sell its U.S. commercial and vendor finance business to PNC Financial Services Group for about $1.25 billion in cash. ECN Capital, which was spun out of Element Financial Corp last year, said the deal includes assets worth about $1.08 billion. Macquarie Capital was ECN Capital's lead financial adviser,...

  • Feb 21- Verizon Communications Inc, the No. 1 U.S. wireless carrier, said on Tuesday it agreed to buy the core internet business of Yahoo Inc for $4.48 billion, about $350 million less than the original price. The deal will combine Yahoo's search, email and messenger assets as well as advertising technology tools with Verizon's AOL unit. Yahoo will continue to be...

  • Feb 21- Verizon Communications Inc, the No. 1 U.S. wireless carrier, said on Tuesday it agreed to buy the core internet business of Yahoo Inc for $4.48 billion, reflecting a $350 million cut to the original price. The deal, which is expected to close in the second quarter, will combine Yahoo's search, email and messenger assets as well as advertising technology tools...

  • HONG KONG/ LONDON, Feb 21- Annual profit at HSBC Holdings slumped 62 percent and fell far short of analysts' estimates as Europe's largest bank took hefty writedowns from restructuring and pointed to brakes on revenue growth. HSBC shares slid more than 6 percent after the company reported revenues fell by a fifth from 2015, underscoring the challenge the bank...

  • SYDNEY, Feb 21- Australia will weigh long-term geopolitical considerations when it vets proposals by foreigners to buy critical infrastructure assets such as power grids and ports, the government said on Tuesday. Last month, the Australia announced the creation of a new critical infrastructure center to oversee sensitive assets. Australia last year...