Leadership Business Events

More

  • NEW YORK, Nov 22- U.S. private equity firm Patriarch Partners LLC said on Sunday it has filed for Chapter 11 bankruptcy protection for Zohar I to protect the debt fund against efforts by MBIA Inc and MBIA Insurance Corp to obtain its assets. MBIA is another Zohar I creditor, Patriarch said. Patriarch is seeking court approval for a reorganization plan that will...

  • NEW YORK, Nov 22- U.S. private equity firm Patriarch Partners LLC said on Sunday it has filed for Chapter 11 bankruptcy protection for Zohar I to protect against efforts by MBIA Inc and MBIA Insurance Corp to obtain its assets. "We believe the Chapter 11 process now presents the best way for Zohar I to restructure its finances while preserving the value of the...

  • Nov 20- Wearable fitness tracking devices maker Jawbone said it cut about 60 jobs, or about 15 percent of it workforce. Jawbone also said it would close its New York office and downsize operations in Sunnyvale, California and Pittsburgh, Pennsylvania. "We have made the difficult decision to reorganize the company which has had an impact on our global workforce," San...

  • Wearable fitness devices maker Jawbone cuts jobs Friday, 20 Nov 2015 | 12:56 PM ET

    Nov 20- Wearable fitness tracking devices maker Jawbone said on Friday that it had cut jobs as part of a reorganization, but did not specify the number of employees who had been laid off. "We have made the difficult decision to reorganize the company which has had an impact on our global workforce," Jawbone said in an emailed statement to Reuters.

  • Tyson Foods to close 2 plants, cut 880 jobs Thursday, 19 Nov 2015 | 4:15 PM ET

    Nov 19- Tyson Foods Inc, the biggest U.S. meat processor, said it would stop operations at two of its plants in the United States, affecting about 880 employees. The company said it expects to cease operations at a pepperoni plant in Jefferson, Wisconsin and a prepared foods facility in Chicago, Illinois during the second half of the year ending Oct. 1.

  • *Yahoo's Alibaba stake worth over $20 bln. *Yahoo and Alibaba shares flat premarket. Yahoo's current net cash holding and the funds raised from a sale of the business could be returned to shareholders through buybacks and dividends, Jeff Smith, Starboard's head, said in a letter to Yahoo on Thursday.

  • TransCanada announces new layoffs as crude slump persists Wednesday, 18 Nov 2015 | 6:17 PM ET

    CALGARY, Alberta, Nov 18- Pipeline company TransCanada Corp has announced new job cuts, as slumping oil prices continue to take their toll on its customers, a spokesman said on Wednesday. TransCanada and other energy companies based in the oil-rich Western Canadian province of Alberta have been hammered with thousands of layoffs in recent months due to the...

  • *Sprawling litigation costs casino group $1 million a day. The acrimonious $18 billion bankruptcy has pitted junior bondholders against the casino group's parent, Caesars Entertainment, whom they accuse of pillaging the unit of its best assets before filing for Chapter 11 protection. Caesars has said the transfers were fair, but the fight has triggered...

  • Nov 17- Cloud computing software maker Citrix Systems Inc, under pressure from activist hedge fund Elliott Management, said it would spin off its GoTo business into a listed company and cut about 1,000 jobs. Citrix said in July it would explore strategic alternatives for its GoTo family of products, including videoconferencing and desktop sharing service...

  • Nov 17- Cloud computing company Citrix Systems Inc said it would cut about 1,000 jobs and spin off its GoTo business into a separate listed company as part of a review of its operation. Citrix, the target of activist hedge fund Elliott Management, said it expects about $200 million in annualized pre-tax cost savings, 75 percent of which is likely to be in fiscal...

  • Nov 17- BP Plc said on Tuesday it was exploring the sale of a petrochemical plant in Decatur, Alabama as part of a restructuring of its petrochemicals business. BP said it was spending $200 million to cut costs at PTA-producing plants in Cooper River, South Carolina and Geel, Belgium. BP's shares were up 2.6 percent at 378.1 pence on the London Stock Exchange at 1510...

  • Nov 13- KaloBios Pharmaceuticals Inc is winding down its operations, a week after the drug developer said it was looking at strategic options. Shares of the company, valued at about $3.7 million, slumped 66 percent to 30 cents in after-hours trading on Friday. The company said it had engaged restructuring firm Brenner Group to help liquidate its assets.

  • KaloBios to wind down operations, liquidate assets Friday, 13 Nov 2015 | 4:54 PM ET

    Nov 13- Drug developer KaloBios Pharmaceuticals Inc said it would wind down its operations and that it had engaged restructuring firm Brenner Group to help liquidate its assets.

  • LONDON, Nov 13- Cargill Inc, one of the world's largest privately held corporations, has launched a restructuring that includes job cuts, one company source and four industry sources said on Friday, the latest casualty of a downturn in the farm economy. The cutbacks at the Minnesota- based company come as global agricultural companies are under pressure from...

  • WASHINGTON, Nov 13- U.S. business inventories unexpectedly rose in September amid flat sales, suggesting the government's third-quarter economic growth estimate could be revised higher later this month. The Commerce Department said on Friday inventories increased 0.3 percent after an upwardly revised 0.1 percent gain in August. Inventories in August...

  • Syngenta rejects ChemChina $42B takeover bid: Report Friday, 13 Nov 2015 | 4:19 AM ET

    China National Chemical Corp is in talks to buy Switzerland's Syngenta but its initial offer of nearly $42 billion was rejected, Bloomberg said on Thursday.

  • Customers enter a branch of the Northern Rock bank in Norwich, Norfolk, U.K., on Friday, Sept.14, 2007.Northern Rock Plc got emergency funding from the Bank of England, the biggest bailout of a British lender in 30 years, after a freeze in money markets left the mortgage provider unable to finance itself.

    Britain's' bad bank' said it had agreed to sell a 13 billion pound asset portfolio to affiliates of Cerberus Capital Management LP.

  • Nov 13- Britain's' bad bank', which is running down the loans of two bailed out lenders, said it had agreed to sell a 13 billion pound asset portfolio to affiliates of Cerberus Capital Management LP. The sale includes performing and non-performing residential mortgages and unsecured loans from the legacy book of NRAM, the former Northern Rock mortgage business, UK...

  • TORONTO, Nov 12- Barrick Gold Corp said on Thursday it will sell its stake in four non-core assets in Nevada for $720 million, putting the Canadian mining firmly on track to meet its 2015 debt-reduction target amid a multi-year slump in gold prices. The world's largest gold producer will sell its 50 percent interest in the Round Mountain mine and 100 percent of the...

  • LONDON, Nov 12- Britain's state-backed Royal Bank of Scotland expects annual revenues in its corporate and institutional banking business to fall to about 1.4 billion pounds after it is restructured, down 65 percent from last year. "What we end up with is a much more focused, much more streamlined, much more efficient business than the one we had before," said Chris...