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  • April 2- U.S. insurer Genworth Financial Inc is seeking buyers for a life and annuity unit, Bloomberg reported, citing people familiar with the matter. Genworth has been carrying out a restructuring plan after reporting losses of more than $1.5 billion in the past two quarters due to hefty charges to cover losses in its long-term care business.

  • April 2- United Technologies Corp said it brought back Robert Leduc to be president of its Sikorsky helicopter unit, which the company is planning to spin off. Leduc had retired from United Tech, which makes parts for Boeing Co and Airbus, in 2014 after a 35- year stint at the company. The appointment, effective immediately, comes less than a month after United Tech...

  • April 1- Canada's largest oil and gas company Suncor Energy Inc said on Wednesday that it expected to largely implement operating budget cuts of C $600 million to C $800 million in 2015, ahead of the previously projected two-year period. The company had said in January that it would also cut about 1,000 jobs, freeze hiring and slash C $1 billion in capital...

  • WASHINGTON, April 1- As the U.S. Supreme Court on Wednesday considered the case of a Massachusetts homeowner battling his mortgage lender over a bankruptcy plan, several justices focused their attention on his unlikely ally: Bank of America Corp.. Bank of America, one of the largest U.S. banks, filed a friend-of-the-court brief in support of Louis Bullard, who owes...

  • April 1- EveryWare Global Inc, a marketer of cookware and tabletop products, said it expects to file for prepackaged bankruptcy that will give its lenders control of the company after it emerges from bankruptcy. Investment firm Monomoy Capital Partners is the company's largest shareholder with a 67.06 percent stake as of October, according to Thomson Reuters...

  • EveryWare Global to file for prepackaged bankruptcy Wednesday, 1 Apr 2015 | 8:49 AM ET

    April 1- EveryWare Global Inc, a marketer of tabletop and food preparation products, said it expects to file for prepackaged bankruptcy that will give its secured lenders control of the company after it emerges from the bankruptcy. EveryWare said it expects to file for a prepackaged Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the District of Delaware...

  • HANOI, April 1- Vietnam needs to quicken the privatization of state-owned enterprises as well as divestment from non-core businesses to raise capital and boost performance, the country's prime minister said on Wednesday. Vietnam has been striving to trim state stakes in SOEs, many of which have low profitability and high levels of non-performing loans.

  • NEW YORK, April 1- General Electric would commit to financing a new natural gas plant in Puerto Rico under a debt restructuring plan proposed by creditors of the island's struggling power utility, according to plan documents obtained by Reuters. Reuters reported on Saturday that an ad hoc group of PREPA creditors, including OppenheimerFunds and Franklin...

  • The company, which was acquired in a $7.2 billion deal in 2011 by a team of investors led by KKR& Co, had a total debt of about $3.9 billion as of Dec. 31. The company had earlier hired restructuring advisers Kirkland& Ellis LLP and Blackstone Group LP, according to a person familiar with the matter. The Tulsa, Oklahoma- based company, which had about $23.8 million in cash...

  • Samson Resources, which was acquired in a $7.2- billion deal in 2011 by a team of investors led by KKR& Co, had a total debt of $3.9 billion as of Dec. 31.

  • March 31- Alloys maker Carpenter Technology Corp said on Tuesday that it will cut about 10 percent of its salaried workforce, or 200 jobs, to reduce costs amid weak oil and gas prices. Services to oil and gas companies accounted for about 16 percent of Carpenter Technology's adjusted sales in the second quarter ended Dec. 31. Carpenter Technology forecast a loss of...

  • Alloys maker Carpenter Technology to cut 200 jobs Tuesday, 31 Mar 2015 | 4:52 PM ET

    March 31- Alloys maker Carpenter Technology Corp said on Tuesday that it will cut about 10 percent of its salaried workforce, or 200 jobs, to reduce costs amid weak oil and gas prices.

  • SAO PAULO, March 31- Brazilian engineering conglomerate Grupo OAS requested court protection from creditors for nine of its units on Tuesday as it grapples with the fallout from a scandal at state-controlled Petrobras, a key customer. Under terms of the petition, which OAS filed in a São Paulo state court, the company sought creditor protection for...

  • Under terms of the petition, which OAS filed in a São Paulo state court, the company sought creditor protection for Construtora OAS SA, OAS SA, OAS Imóveis SA, SPE Gestão e Exploração de Arenas Multiuso, OAS Empreendimentos SA, OAS Infraestrutura SA, OAS Investments Ltd, OAS Investments GmbH e OAS Finance Ltd..

  • TOKYO, March 31- Citigroup Inc has agreed to sell its credit card unit in Japan to Sumitomo Mitsui Trust Bank, the companies said on Tuesday, as the U.S. bank slims down globally to bolster its profitability. The transaction is expected to close by the end of the year, Citigroup and Sumitomo Mitsui Trust Holdings Inc said in separate statements.

  • European shares up, head for best quarter in years Tuesday, 31 Mar 2015 | 3:18 AM ET

    LONDON, March 31- European shares edged higher in early trading on Tuesday and headed for their best quarterly performance in several years, with Kingfisher leading the market higher following its plans to sell about 60 B&Q stores in Britain. Shares in Europe's biggest home improvement retailer were up 4.6 percent after the announcement of store closure...

  • HONG KONG, March 31- Troubled Chinese property developer Kaisa Group Holdings said it would not report its 2014 results as scheduled on Tuesday as it needed more time to assess its cash flow. Larger peer Sunac China Holdings, which has proposed a takeover, urged the bondholders to accept Kaisa's debt restructuring plan or risk the company running out of cash by...

  • NEW YORK, March 30- A federal judge on Monday dismissed a lawsuit accusing Philip Falcone and his Harbinger Capital Partners LLC of misleading investors by taking a majority stake in wireless company LightSquared Inc without disclosing the investment or its risks. Once known as SkyTerra Communications Inc, LightSquared filed for bankruptcy protection in...

  • SAO PAULO, March 30- Volkswagen AG has furloughed 4,200 workers at its second largest factory in Brazil for three weeks, a local union said on Monday, as disappearing demand forces carmakers in the country to manage excess capacity. As exports to Argentina have plunged and demand in Brazil hits its worst downturn in over a decade, VW is cutting a shift at the Taubate...

  • SAO PAULO, March 30- Volkswagen AG has furloughed 4,200 workers at its second largest factory in Brazil for three weeks, a local union said on Monday, as a demand crisis forces domestic carmakers to manage excess capacity. As exports to Argentina have plunged and demand in Brazil hits its worst downturn in over a decade, VW is cutting a shift at the Taubate plant and...