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  • Baker Hughes reports quarterly loss on $772 mln charge Tuesday, 21 Apr 2015 | 8:17 AM ET

    April 21- Oilfield services provider Baker Hughes Inc, which is in the process of being acquired by Halliburton Co for $35 billion, posted a quarterly loss compared with a year-earlier profit as it recorded a $772 million charge related to restructuring and other items. Baker Hughes said it would cut 10,500 jobs, or 17 percent of its global workforce, up from 7,000...

  • April 20- A union working on behalf of Wal-Mart employees laid off in the sudden temporary closure of five stores filed a claim on Monday to the National Labor Relations Board accusing the retailer of retaliating against workers for organizing activity and seeking to get them rehired. Wal-Mart Stores, which announced last week that it was temporarily closing...

  • April 20- General Electric Co is in early-stage talks with Wells Fargo& Co about selling its entire $74 billion U.S. commercial lending and leasing portfolio to the bank, according to a source familiar with the situation. GE and Wells Fargo declined to comment. The talks with Wells Fargo underscored GE's urgency in looking to dismantle its GE Capital business and...

  • April 17- Honeywell International Inc, a major manufacturer of aircraft electronics and climate control systems, reported a 5 percent fall in quarterly revenue on Friday, hurt by the sale of its friction materials business and a strong dollar. Honeywell gets more than half its revenue from international operations and exports. Honeywell's transportation...

  • April 17- Diversified U.S. manufacturer Honeywell International Inc reported lower-than-expected quarterly revenue, hurt by the sale of its friction materials business and a strong dollar. Honeywell sold its friction materials business to Federal Mogul last year for about $155 million. Net income attributable to Honeywell rose to $1.12 billion, or $1.41...

  • April 16- The Internal Revenue Service is seeking to recoup $3.22 billion from Texas businessman Samuel Wyly and the estate of his late brother Charles Wyly, after the brothers allegedly hid income by setting up sham overseas trusts. According to claims filings on Wednesday with the U.S. bankruptcy court in Dallas, the IRS believes Samuel Wyly owes $2.03...

  • China's incredible shrinking factory Thursday, 16 Apr 2015 | 5:00 PM ET

    HUIZHOU, China, April 17- Eight years ago, Pascal Lighting employed about 2,000 workers on a leafy campus in southern China. Cankun, an appliances factory in southern China featured in the documentary Manufactured Landscapes, had more than 22,000 manufacturing employees in 2005, according to its annual report. Some Hong Kong- owned factories in southern China...

  • April 16- Canadian auto-parts maker Magna International Inc said on Thursday it will sell most of its vehicle-interiors operations to Spain's Grupo Antolin for about $525 million. The deal covers 36 manufacturing plants and about 12,000 employees in Europe, North America and Asia, the company said. "Overall, we regard the deal as positive as it takes out of a...

  • WASHINGTON, April 16- U.S. rules to cut carbon emissions could close more than 90 coal plants and eliminate jobs that support mining and power stations that the federal government has not fully considered, a report by the conservative American Action Forum research group said on Thursday. The EPA also says the rules will save consumers billions of dollars over...

  • April 16- Canadian auto parts maker Magna International Inc said it would sell most of its interiors operations to Spain's Grupo Antolin for about $525 million. The deal includes 36 manufacturing plants and about 12,000 employees in Europe, North America and Asia, the company said. The operations included in the agreement recorded about $2.4 billion in sales...

  • MOSCOW, April 16- Energy trader Gunvor has sold its 30 percent stake in Russian coal producer Kolmar, the Swiss-based trader said on Thursday. Gunvor, one of the world's top five oil trading houses, has been looking to cut exposure to Russia by selling assets. The company's former co-owner, Russian billionaire Gennady Timchenko, sold his stake in Gunvor last year...

  • MOSCOW, April 16- Energy trader Gunvor has sold its 30 percent stake in Russian coal producer Kolmar, the Swiss-based trader said on Thursday. It said in a statement the stake had been sold to a company controlled by Russian businessman Andrei Bokarev, an investor in coal mining and logistics assets, transportation and industrial processes.

  • Gunvor says sells stake in Russian coal producer Kolmar Thursday, 16 Apr 2015 | 2:42 AM ET

    MOSCOW, April 16- Energy trader Gunvor has sold its 30 percent stake in Russian coal producer Kolmar, the Swiss-based trader said on Thursday. It said in a statement the stake had been sold to Mokara Enterprises Limited, which is owned by Russian businessman Andrei Bokarev, an investor in coal mining and logistics assets, transportation and industrial processes.

  • TOKYO, April 16- Japan's Sharp Corp and its main banks are set to agree on Thursday to a $1.7 billion rescue and restructuring plan that will likely include a promise to split off its ailing smartphone display business, a person involved in the discussions said. As part of its second major bailout in three years, Sharp's lenders, Mizuho Bank and Bank of...

  • TOKYO, April 16- Japan's Sharp Corp and its main banks are to meet on Thursday to agree on a $1.7 billion rescue and restructuring plan for the loss-making electronics maker, a person involved in the discussions said. An agreement between the Osaka- based company and its main lenders, Mizuho Bank and Bank of Tokyo-Mitsubishi UFJ, would be Sharp's second big bailout...

  • NEW YORK, April 15- Creditors of Puerto Rico's troubled power authority, PREPA, will give the utility another 15 days leeway under an agreement aimed at staving off a messy default, PREPA confirmed in a statement on Wednesday. Creditors accepted that proposal, PREPA said, as the sides debate how to restructure PREPA's $9 billion in debt. Earlier PREPA said the...

  • April 15- Memory chipmaker SanDisk Corp reported its first fall in quarterly revenue in two years and plans to cut jobs to reduce costs as it struggles to meet demand for its flash-based memory products. SanDisk's adjusted profit also fell short of analysts' average estimate, sending the company's shares down nearly 6 percent in after market trading on...

  • NEW YORK, April 15- General Motors Co will not have to face dozens of lawsuits accusing it of concealing an ignition-switch defect that has been blamed for more than 200 deaths and serious injuries, a U.S. bankruptcy judge ruled on Wednesday. Bankruptcy Judge Robert Gerber means GM may avoid potentially billions of dollars in liability, as well as the cost of...

  • NEW YORK, April 15- Creditors of Puerto Rico's troubled power authority, PREPA, are planning to give the utility another 15 days leeway under an agreement aimed at staving off a messy default, sources familiar with the creditors' thinking said on Wednesday. Creditors plan to accept that proposal as sides debate how to restructure PREPA's $9 billion in debt, said...

  • Germany declines comment on Greek bankruptcy plan report Wednesday, 15 Apr 2015 | 6:12 AM ET

    BERLIN, April 15- The German government declined comment on Wednesday on a story in German weekly Die Zeit which said Berlin was working on a plan that would allow Greece to receive financing from the European Central Bank even if it missed payments to creditors. "The plan under discussion is aimed at allowing he ECB to continue financing of Greece in the event of...