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Leadership Business Events

  • CHICAGO, Dec 6- The bank lenders of Caesars Entertainment Corp's operating unit said they might walk away from a plan to bring the casino unit out of its $18 billion bankruptcy, potentially sending a high-stakes reorganization plan into disarray. The committee of bank lenders, which includes Blackstone Group LP's GSO Capital Partners, has yet to resolve a...

  • The plan, announced late on Monday, to spin off JBS's international businesses and its Brazilian poultry unit Seara under Holland- based JBS Foods International B.V. is part of a much simpler, revised corporate reorganization plan intended to reduce company financing costs. The new reorganization comes less than two months after Brazil's BNDES development...

  • The GoDaddy banner hangs outside of the New York Stock Exchange as the website hosting service makes its initial public offering on April 1, 2015 in New York City.

    U.S.-based website domain name provider GoDaddy said it would buy peer Host Europe Group as it looks to expand beyond the initial set-up of websites.

  • WILMINGTON, Del./ CHICAGO, Dec 6- A leading U.S. subsidiary of Abengoa SA heads to court on Tuesday to seek approval for a bankruptcy exit plan that opponents argue violates the law by prioritizing the Spanish parent and its international backers ahead of U.S. creditors. Abeinsa Holding Inc is one of dozens of global Abengoa subsidiaries that filed for U.S.

  • SAO PAULO, Dec 5- A Brazilian federal court issued an injunction to block the sale of the fuels distribution unit of state oil company Petroleo Brasileiro SA after a request by workers, according to the court's press office. Petrobras is looking to sell a stake in BR Distribuidora, Brazil's largest fuel distribution company, as part of a divestment program that...

  • SAO PAULO, Dec 5- A Brazilian federal court issued an injunction to block the sale of the fuels distribution unit of state oil company Petroleo Brasileiro SA after a request by workers, according to the court's press office. Petrobras is looking to sell a stake in BR Distribuidora, Brazil's largest fuel distribution company, as part of a divestment program that...

  • Dec 5- General Mills Inc, the maker of Cheerios cereal, said it would cut as many as 600 jobs globally as part of a new organizational structure and eliminate the position of international chief operating officer. As part of the new organizational structure, the company will be split into four business groups- North America retail, Europe& Australia, Asia& Latin...

  • Dec 2- Struggling retailer Sears Holdings Corp said Chief Executive Eddie Lampert proposed to buy a bigger stake in Sears Hometown and Outlet Stores Inc, if Sears Hometown entered into a partnership related to certain brands and its home services unit. Sears Holdings has lost more than $8 billion over the last five years and posted a quarterly profit just once...

  • CHICAGO, Dec 2- U.S. coal producer Peabody Energy Corp said it would seek court approval to repay a $500 million term loan ahead of schedule because it has enough cash to operate in bankruptcy thanks to a rise in coal prices. The financing included a $500 million term loan, which the company is planning to repay, along with a $200 million bonding accommodation...

  • SAO PAULO, Dec 2- Brazilian telephone company Oi SA, which is under creditor protection, said court administrators had filed a petition in an Amsterdam court to convert the suspension of payment status of two Oi subsidiaries into bankruptcy. A hearing in Amsterdam has been scheduled for Jan. 12 to decide on the matter, according to a filing from Oi late on Thursday...

  • SINGAPORE, Dec 2- Flush with cash, private equity-backed firms and former oil industry executives are eyeing energy assets in Southeast Asia as prolonged lower crude prices drive oil majors hungry for cash to divest or seek additional funds. The firms are banking on a rapid rise in economic growth in Southeast Asia- a region ripe with cheaper and smaller oil and...

  • SAO PAULO, Dec 1- Odebrecht SA, the engineering conglomerate that on Thursday agreed to a $2 billion leniency deal with prosecutors in Brazil's biggest graft case, is making progress selling assets and restructuring some businesses as part of a broad overhaul. In a statement, the company pledged not the engage ever again in improper business practices.

  • Dec 1- Cummins Inc, a U.S. manufacturer of engines for large trucks, is preparing to explore the sale of a business that makes filters and coolants, potentially valuing it at more than $1.5 billion, according to people familiar with the matter. The move comes as weak heavy-duty truck production in North America and poor global demand for power generation equipment...

  • *Weekly jobless claims increase 17,000. WASHINGTON, Dec 1- The number of Americans filing for unemployment benefits rose more than expected last week, hitting the highest level in five months, but the underlying trend remained consistent with a healthy labor market. Initial claims for state unemployment benefits increased 17,000 to a seasonally adjusted...

  • WASHINGTON, Nov 30- President-elect Donald Trump faced criticism from an unusual source on Wednesday when a buttoned-down U.S. government ethics office issued an apparently sarcastic stream of Twitter messages applauding him for selling off his assets. Trump, in fact, has not said whether he will sell the hotels, golf courses and other businesses that make up...

  • Nov 30- GoPro Inc said on Wednesday it would cut about 15 percent of its workforce as the company restructures its once fast-growing action camera business. The company said it expects to incur about $24 million to $33 million in restructuring charges, mostly in its fourth quarter. GoPro's shares were up 2.7 percent at $10.10 in premarket trading.

  • SAO PAULO, Nov 29- Brazilian phone carrier Oi SA said on Tuesday that Dutch judicial authorities could compel bankruptcy proceedings for its two Netherlands- based units, which hold most of the company's bond debt. Oi said in a securities filing that it hoped that a bankruptcy process in the Netherlands, should it take place, would have no meaningful bearing on its...

  • AMSTERDAM, Nov 29- The days of the European conglomerate may be numbered, as activist shareholders are pressing diversified groups to spin off secondary businesses and focus on doing one thing well. "I think demergers and the destruction of conglomerates is the next major trend in the M&A market," said Christer Gardell, co-founder of Cevian, a Swedish-based...

  • AMSTERDAM, Nov 29- The days of the European conglomerate may be numbered, as activist shareholders are pressing diversified groups to spin off secondary businesses and focus on doing one thing well. "I think demergers and the destruction of conglomerates is the next major trend in the M&A market," said Christer Gardell, co-founder of Cevian, a Swedish-based...

  • AMSTERDAM, Nov 29- The days of the European conglomerate may be numbered, as activist shareholders are pressing diversified groups to spin off secondary businesses and focus on doing one thing well. "I think demergers and the destruction of conglomerates is the next major trend in the M&A market," said Christer Gardell, co-founder of Cevian, a Swedish-based...