Leadership Business Events

  • CHICAGO, Sept 27- Caesars Entertainment Corp said on Tuesday it has struck a crucial $5 billion deal with most of its casino operating unit's creditors, resolving billions of dollars in legal claims and paving the subsidiary's way out of a costly bankruptcy. The Las Vegas- based company's main operating unit, Caesars Entertainment Operating Co Inc, filed in...

  • SAO PAULO, Sept 27- Brazil's robusta coffee industry is laying off workers who transport, process and store the commodity in warehouses that are nearly idle two years into the worst drought in eight decades, according to traders and industry executives. At current prices, Brazil's 2016 robusta crop is worth $1.2 billion. Despite a major recovery in arabica...

  • CHICAGO, Sept 27- Hold-out creditors of Caesars Entertainment Corp's bankrupt operating unit accepted a sweetened $5 billion deal on Tuesday that could finally extricate the casino company from a costly bankruptcy. Following are key events in the $18 billion bankruptcy of the Las Vegas- based casino group's main operating unit, Caesars Entertainment...

  • The Las Vegas- based company's main operating unit, Caesars Entertainment Operating Co Inc, filed for bankruptcy in January 2015. Under the agreement, which still needs approval from the U. S Bankruptcy Court in Chicago, first-lien bank lenders will recover roughly 115 cents on the dollar, about 1 cent less than previously agreed upon. Junior creditors, who had...

  • The Las Vegas- based company's main operating unit, Caesars Entertainment Operating Co Inc, filed for bankruptcy in January 2015. The deal still needs approval from the U. S Bankruptcy Court in Chicago. Under the agreement, Caesars and its private equity owners, Apollo Global Management and TPG Capital Management, offered junior creditors an increased recovery...

  • Caesars offered a sweetened $5 billion settlement last week to hold-out creditors of its main operating unit, Caesars Entertainment Operating Co Inc. In exchange, creditors would have to drop their allegations of fraud prior to the unit's bankruptcy in January 2015 with $18 billion of debt. Caesars and its private equity owners Apollo Global Management and...

  • SHANGHAI, Sept 27- The landmark bankrupcty of Guangxi Nonferrous Metals Group Co Ltd is in line with central government objectives such as eliminating "zombie enterprises," said the commission responsible for managing state assets in China's Guangxi Zhuang Autonomous Region, according to online financial magazine Caixin. Unlisted Guangxi Nonferrous,...

  • BERLIN, Sept 26- Commerzbank is planning to cut around 9,000 jobs over the coming years as Germany's second biggest lender pushes ahead with a restructuring plan, Handelsblatt reported on Monday, citing unnamed sources in the finance industry. Squeezed by negative European Central Bank interest rates, German banks have been seeking ways to boost revenue by...

  • Sept 26- Caesars Entertainment Corp said on Monday it remains "optimistic" of reaching a $5 billion deal with the bulk of its creditors to push its main operating unit out of bankruptcy, but one hedge fund bondholder said it will pursue litigation. Caesars offered a sweetened $5 billion settlement last week to hold-out creditors of its main operating unit,...

  • Sept 26- Caesars Entertainment Corp is "optimistic" of finally reaching a $5 billion agreement with creditors to push its main operating unit out of a long and costly bankruptcy, the Las Vegas- based casino group said in a statement on Monday. The company's main operating unit, Caesars Entertainment Operating Co Inc, filed for Chapter 11 protection in January 2015...

  • BEIJING, Sept 26- China has launched a 350 billion yuan state enterprise restructuring fund to advance its' supply-side' reforms as the world's second-largest economy undergoes its most significant transformation in two decades. China has made reform of its lumbering and uncompetitive state-owned enterprises a priority as weak global demand drags on...

  • SHANGHAI, Sept 26- Dongbei Special Steel Group Co Ltd said on Monday it had defaulted on a one-year bond, the latest in a string of missed payments this year by the unlisted Chinese steelmaker. Owned by the Liaoning provincial government in China's northeast rust belt, Dongbei announced on the website of China's interbank bond market operator that it had failed...

  • BEIJING, Sept 26- China has launched a 350 billion yuan restructuring fund as the government pushes' supply-side' reforms that have included mergers of inefficient state enterprises and laying off workers in struggling sectors such as coal and steel. The China State-owned Enterprises Restructuring Fund will be managed by the State-owned Assets...

  • CHICAGO, Sept 23- Shares of Caesars Entertainment Corp slid on Friday as creditors thrashed out the terms of a sweetened $5 billion deal that could finally extract the casino company from a costly bankruptcy. The company's main operating unit, Caesars Entertainment Operating Corp Inc, or CEOC, filed for bankruptcy in January 2015. The latest offer from Caesars...

  • SAO PAULO, Sept 23- Raia Drogasil SA, Brazil's biggest drugstore chain, will sit out expected consolidation of the national market, the company's chief executive said in an interview, because its own rapidly expanding network is proving increasingly efficient. CVS Health Corp entered Brazil with an acquisition in 2013 and two sources told Reuters this month...

  • CHICAGO, Sept 23- Shares of Caesars Entertainment Corp slid on Friday, a day after hitting a 16- month high, as investors awaited a midnight deadline for creditors to accept a sweetened $5 billion deal that could finally extract the casino company from a costly bankruptcy. The company's main operating unit, Caesars Entertainment Operating Corp Inc, or CEOC, filed...

  • RIO DE JANEIRO, Sept 23- Brazil's state-owned oil producer Petrobras agreed to sell 90 percent of a natural gas pipeline unit to a group led by Canada's Brookfield Asset Management Inc for $5.2 billion, the companies said on Friday. The investor group includes two sovereign wealth funds, China's CIC Capital Corp and Singapore's GIC Private Ltd..

  • LONDON, Sept 23- Goldman Sachs is cutting almost 30 percent of its 300 investment banking jobs in Asia outside Japan in response to a slowdown in activity in the region, two sources familiar with the matter told Reuters. Most of the jobs cuts are likely to take place in Hong Kong, Singapore and China, where Goldman's main Asian offices are located, they added.

  • Sept 23- Brazil's state-run oil company Petroleo Brasileiro SA agreed to sell 90 percent of its natural gas pipeline unit for $5.2 billion to a group of investors led by Canada's Brookfield Asset Management Inc, the companies said on Friday. The consortium includes sovereign wealth funds CIC Capital Corp of China and GIC Private Ltd. of Singapore.

  • TOGLIATTI, Russia, Sept 23- Russian carmaker Avtovaz has a civic responsibility to preserve jobs, the company's new chief executive told Reuters, rowing back on a politically sensitive policy of redundancies in the face of plummeting sales and record losses. In his first extended interview with foreign media since majority owners Renault and Nissan put him in...