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  • *Latest miner to be hit by coal price slump. PRAGUE, May 3- The main business of Czech miner New World Resources filed for insolvency on Tuesday, but still hopes to agree a reorganisation plan and continue operations. "Although this was a very tough decision to make, this voluntary step is the right choice for the future of OKD, and mainly its employees and the region,"...

  • *Q1 net profit 707 Sfr mln vs poll f'cast 704 mln Sfr. ZURICH, May 3- UBS plans job cuts to help save hundreds of millions of dollars in its wealth management business, after the Swiss bank's first-quarter net profit fell by nearly two-thirds due to wary clients investing less. Although this was roughly in line with the average estimate of 704 million francs in a...

  • Grocery chain operator Fairway filed for Chapter 11 bankruptcy protection on Monday in a New York court.

  • Analysts value unit at around 5 billion euros. *Philips Group will now focus on Healthcare operations. AMSTERDAM, May 3- Philips plans to sell at least 25 percent of its lighting business, the world's largest maker of lights, on the stock market to focus on its larger medical equipment operations, it said on Tuesday.

  • LONDON, May 3- Metals group Liberty House will submit a letter of intent to buy the British assets of Tata Steel on Tuesday, a spokeswoman said, in the first concrete bid since the Indian conglomerate put the business up for sale, threatening thousands of jobs. India's Tata group announced plans to sell its entire UK steel operation in March, leaving the government...

  • LONDON, May 3- Metals group Liberty House will submit a letter of intent to buy the British assets of Tata Steel on Tuesday, a spokeswoman said, in the first concrete bid since the Indian conglomerate put the business up for sale, threatening thousands of jobs. Liberty's Executive Chairman Sanjeev Gupta had been the first businessman to express an interest in...

  • Fairway listed assets in the range of $100 million to $500 million, and liabilities of $100 million to $500 million, according to a court filing. The company said it has hired Dennis Stogsdill of turnaround management firm Alvarez& Marsal Inc as chief restructuring officer. The case is in U.S. Bankruptcy Court, Southern District of New York, Case No: 16-11241..

  • May 2- Grocery chain operator Fairway Group Holdings Corp, which has lost money in every quarter since it went public in 2013, filed for Chapter 11 bankruptcy on Monday. Fairway listed assets in the range of $100 million to $500 million, and liabilities of $100 million to $500 million, according to a court filing. Fairway had said in February a failure to raise...

  • SAN JUAN/ NEW YORK, May 2- Puerto Rico's Government Development Bank said it reached a tentative debt restructuring framework with some of its major creditors, just hours after declaring it will skip making a $422 million bond payment due on Monday. Talks between the GDB and some of its major creditors, who call themselves the Ad Hoc Group and hold roughly $935...

  • SAN JUAN, May 2- Puerto Rico's Government Development Bank, which announced plans to skip the bulk of a $422 million debt payment on Sunday, said it reached a framework deal with some creditors to keep negotiating a debt restructuring. In a televised speech on Sunday evening, Puerto Rico Governor Alejandro Garcia Padilla imposed a moratorium on the debt payment, a "...

  • SAN JUAN, May 2- Puerto Rico's Government Development Bank, which announced plans to skip the bulk of a $422 million debt payment on Sunday, said it has reached a deal with some creditors to keep negotiating a debt restructuring, potentially stemming the expected lawsuits arising from the default. In a televised speech on Sunday evening, Puerto Rico Governor...

  • May 2- Magnum Hunter Resources Corp and its founder Gary Evans are emblematic for the U.S. shale revolution: it started small, borrowed heavily to snap up land and rivals and then crumbled under the weight of debt when prices crashed. With little chance of seeing hundreds of millions of dollars in debt repaid, creditors including Goldman Sachs, Highbridge Capital...

  • NEW DELHI, May 2- A long-awaited Indian bankruptcy code may soon win parliamentary approval, but struggling creditors- above all state banks trying to recover $100 billion in bad loans- shouldn't start celebrating just yet. For Prime Minister Narendra Modi's drive to' Make in India', encouraging new investment depends on unburdening creditors of old ones that...

  • MEXICO CITY, April 29- Mexico construction company ICA plans to file a pre-packaged bankruptcy for some units, exit its international business and sell its homebuilding operations as it seeks to restructure, according to a document seen by Reuters. The document, which outlines minutes of a meeting this month at which Chief Financial Officer Pablo Garcia...

  • Roger Altman

    Most companies are feeling all right about their business, but weak sales growth is making M&A synergies attractive, Roger Altman says.

  • *Central beats rival TCC to win Vietnam business. *Vietnam deal takes Casino asset sales to 4.2 bln euros. Casino, facing weak markets in Brazil and fierce competition in France, has said it aimed to raise around 4 billion euros this year by selling off businesses in Thailand and Vietnam plus the sale of real estate assets in Latin America.

  • April 29- TransCanada Corp, the country's No.2 pipeline operator, reported a better-than-expected quarterly profit, helped by higher income from its Bruce nuclear power plant in Ontario. The company's profit was hit by a C $176 million after-tax charge related to its decision to scrap agreements to buy power from coal-fired plants in Alberta.

  • *Central beats rival TCC to win Vietnam business. *Thai tycoons jostle for deals in Vietnam. SINGAPORE/ BANGKOK, April 29- France's Casino Group agreed to sell its Vietnam unit to Thai conglomerate Central Group for 1 billion euros including debt, giving the retailer respite from a debt pile that pushed its credit rating to junk.

  • SINGAPORE/ BANGKOK, April 29- France's Casino Group has agreed to sell its Vietnam unit to Thai conglomerate Central Group for 1 billion euros including debt, the retailer said on Friday confirming an earlier Reuters story. Central Group, controlled by business family Chirathivat with interests in real estate, department stores and retailing, beat rival Thai...

  • MELBOURNE, April 29- Origin Energy Ltd on Friday more than doubled its outlook for earnings from liquefied natural gas this year, saying the first unit at its Australia Pacific LNG plant was producing at above its rated capacity of 4.5 million tonnes a year. "Given the strong operational performance of Train 1 since shipment of the first LNG cargo on Jan. 9, Origin...