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  • *Athens pushes for quick cash injection but talks could drag on. FRANKFURT/ ATHENS, July 26- Greek banks are set to keep broad cash controls in place for months, until fresh money arrives from Europe and with it a sweeping restructuring, officials believe. Answering this could hold up agreement on a third bailout deal for Greece that negotiators want to conclude...

  • NEW YORK, July 24- The trustee liquidating the bankrupt brokerage unit of Jon Corzine's MF Global Holdings Ltd on Friday announced an agreement that would enable unsecured creditors to recoup nearly everything they are owed, and largely conclude the unit's nearly four-year liquidation. James Giddens, the trustee, said he would sell various claims held by the...

  • July 24- Oilfield giants Schlumberger Ltd and Halliburton Co and many others in the oil and gas industry have announced plans to lay off thousands of people in the past few months as global oil prices have fallen more than 40 percent since June last year. Houston- based Schlumberger also said in April that it plans to cut another 11,000 jobs, bringing the total job...

  • July 24- Encana Corp, Canada's No.1 natural gas producer, said it had laid off about 200 employees this month, joining a growing list of oil producers cutting jobs to cope with a steep fall in crude prices. Encana's shares fell 10 percent to a 13- year low of C $10.10 after the company reported a bigger-than-expected quarterly loss due to weak production.

  • RIO DE JANEIRO, July 24- Brazilian oil workers began a 24- hour strike on Friday in an effort to stop efforts to shrink state-run oil company Petroleo Brasileiro SA, or Petrobras, according to the main union representing the workers. The union is fighting plans by Petrobras to sell $15.1 billion of assets by the end of 2016.. FUP also opposes a bill before Brazil's...

  • RIO DE JANEIRO, July 24- Brazilian oil workers began a 24- hour strike on Friday in an effort to stop moves to shrink state-run oil company Petroleo Brasileiro SA, or Petrobras, according to the main union representing the workers. FUP also opposes a bill before Brazil's Senate seeking to strip Petrobras of its right to run all new development work in a giant...

  • NEW YORK July 23- A new offer by bondholders of Puerto Rico's public utility PREPA to refinance billions of dollars in debt was criticized by the utility on Thursday and deemed risky by others. Presented to PREPA on July 7 and made public on Thursday, the bondholders' plan would split about $8 billion of debt into two tranches, with one taking the form of capital...

  • July 23- The developer of the $3.5 billion Baha Mar mega-resort is willing to commit up to $200 million to jumpstart the stalled Bahamas project, lawyers told a U.S. bankruptcy judge on Thursday. The developer of the project is Sarkis Izmirlian, whose Baha Mar Ltd filed for bankruptcy protection in Delaware last month. During the bankruptcy court hearing on...

  • July 23- Hercules Offshore Inc, stung by slumping demand for drilling services in older Gulf of Mexico oilfields, said on Thursday it plans to file for creditor protection in about three weeks and emerge several months later with a restructured balance sheet. The company's balance sheet lists $266 million in current assets and $1.35 billion in current...

  • ST. LOUIS— The Ameren Corp. nuclear power plant in central Missouri was shut down for the second time in eight months Thursday after a "non-emergency" leak was found in the reaction control system. Jeff Trammel, a spokesman for St. Louis- based Ameren, called it a "minor steam leak." Ameren officials are investigating the cause.

  • SAN JUAN, Puerto Rico— A company of New York hedge fund billionaire John Paulson reached a $20 million deal to buy and renovate a recently closed hotel in Puerto Rico's tourist district, officials said Thursday. Paulson& Co. will develop the San Juan Beach Hotel into an ultra-luxury boutique hotel in the popular Condado neighborhood, according to Puerto Rico's...

  • Puerto Rico power company rejects bondholders' debt plan Thursday, 23 Jul 2015 | 10:54 AM ET

    SAN JUAN, Puerto Rico— Puerto Rico's power company on Thursday rejected a new proposal from bondholders that calls for an $8.1 billion debt exchange amid growing concerns the public agency could be the first one in the U.S. territory to go bankrupt. The Electric Power Authority said the proposal would not lead to a successful restructuring and does not share the...

  • CHESTER HILL, Pa.— A Canadian company that provides natural gas drillers with hydraulic fracturing and other services has laid off 60 workers at its central Pennsylvania operation. The Centre Daily Times reports the layoffs leave Calfrac Well Services with about 10 employees who will maintain its equipment, facility and to support the company's sales.

  • LONDON— Japanese media company Nikkei Inc. is buying the Financial Times as part of an 844 million-pound deal with Britain's Pearson PLC. As part of the deal, Pearson has agreed to sell the vast majority of the assets in FT Group, including the Financial Times newspaper and the popular FT.com. However, Pearson will retain its 50 percent stake in The Economist Group...

  • *Firm supplies OLED screens to LG Electronics, Apple. SEOUL, July 23- LG Display Co Ltd said on Thursday it will invest nearly $1 billion to build a fourth organic light-emitting diode display factory, pinning its future firmly on the high-end next-generation technology. "LG Display's investment will help pioneer future display technologies such as foldable...

  • NEW YORK July 23- Bondholders of Puerto Rico's debt-laden public utility PREPA offered to refinance $8 billion in debt by splitting it into two classes of bonds, a move they say would save PREPA $2.5 billion in financing costs through 2025, according to an outline of the proposal made public by the bondholders on Thursday. Plagued by outdated equipment and an...

  • NEW YORK July 23- Bondholders of Puerto Rico's debt-laden public utility PREPA offered to refinance their $8 billion in debt by splitting it into two classes of bonds, a move they say would save PREPA $2.5 billion in financing costs through 2025, according to an outline of the proposal made public by the bondholders on Thursday. Plagued by outdated equipment...

  • Judge: Caesars can be sued while unit in bankruptcy Wednesday, 22 Jul 2015 | 4:53 PM ET

    LAS VEGAS— A Chicago bankruptcy judge has ruled he won't stop pending lawsuits against Caesars Entertainment Corp. while its debt-heavy subsidiary is in bankruptcy. Judge Benjamin Goldgar decided Wednesday that the casino giant won't be immune to litigation, unlike its Caesars Entertainment Operation Co. unit which filed for bankruptcy in mid-January...

  • Qualcomm to cut 15 percent of workforce Wednesday, 22 Jul 2015 | 4:50 PM ET

    Qualcomm says it will cut jobs, update its board and review its business structure as part of an effort to improve its performance. Qualcomm said Wednesday that it plans to slash its spending by $1.4 billion. Qualcomm Inc. also said Wednesday that its net income fell 47 percent to $1.18 billion, or 73 cents per share, for its most recent quarter.

  • UPDATE 1-Qualcomm says may split itself, cut jobs Wednesday, 22 Jul 2015 | 4:44 PM ET

    Qualcomm's shares fell about 1 percent at $63.50 in after-market trading on Wednesday. The chipmaker, which has about 30,000 employees worldwide, also said it had agreed with Jana Partners to add two of the hedge fund's nominees to Qualcomm's board. Qualcomm, which makes software and chips used in smartphones, tablets and gaming devices, is known for its...