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Leadership Business Events

  • Caterpillar reported a third-quarter profit of $283 million, or 48 cents per share, down from a revised $559 million, or 94 cents per share, a year earlier. Excluding restructuring costs, earnings per share came to 85 cents, exceeding analysts' estimates of 76 cents. Revenue fell to $9.2 billion from about $11 billion.

  • LONDON, Oct 25- London- listed Xcite Energy is set to go into liquidation after bondholders rejected a restructuring plan for the North Sea oil developer, the company said on Tuesday. Ian McLelland, global head of natural resources at Edison Investment Research, said that the announcement was a blow to both the company's share and debt holders as well as to the...

  • *Etisalat conducts due diligence on data centre. DUBAI, Oct 25- Dubai technology company Pacific Controls, which is seeking one of the biggest debt restructuring deals in the Gulf since the economic slowdown, is in talks to sell its data centre in the emirate to telecoms company Etisalat, four sources said. Pacific Controls, which needs to raise cash in its effort to...

  • *Etisalat conducts due diligence on data center. DUBAI, Oct 25- Dubai technology company Pacific Controls, which is seeking one of the biggest debt restructuring deals in the Gulf since the economic slowdown, is in talks to sell its data center in the emirate to telecoms company Etisalat, four sources said. Pacific Controls, which needs to raise cash in its effort to...

  • *Approval will avoid Spain's biggest ever bankruptcy. MADRID, Oct 25- Renewable energy firm Abengoa is on track for the 75 percent creditor approval needed for its restructuring plan and avoid filing for Spain's biggest ever bankruptcy, a source with knowledge of the deal said on Tuesday. Abengoa's creditors include Spain's Santander and Caixabank,...

  • Oct 24- Goldman Sachs Group Inc will lay off 20 employees in New York, according to a filing by the bank with the state's Department of Labor.

  • at&t location

    Moody's is reviewing AT&T's credit rating, but analyst David Burks thinks AT&T is still attractive and will be able to manage its debt.

  • Oct 24- Buckeye Partners LP, which operates pipelines and other transportation and storage assets for liquid petroleum products, said it bought a 50 percent stake in a marine terminal company for $1.15 billion. Buckeye Partners said on Monday that the other 50 percent in VTTI B.V. will continue to be held jointly by Vitol, the world's largest oil trader, and...

  • LONDON, Oct 24- British broadcaster ITV will cut 120 jobs as part of a programme set out earlier this year to reduce costs by 25 million pounds to counter the uncertainty created by the Brexit vote. The job cuts amount to 2 percent of ITV's workforce of 6,000, of which 3,000 are British-based staff, and would be spread across the business. ITV plans to cut costs by 25...

  • AT&T said on Saturday it had agreed to buy Time Warner for $85.4 billion, or $107.50 per share, to gain control of cable TV channels HBO and CNN, film studio Warner Bros, and other coveted media assets. "Given the steep multiples being offered by AT&T, we doubt a competing offer for the whole of Time Warner can emerge," said Credit Suisse analyst Omar Sheikh.

  • MONTREAL, Oct 21- Bombardier Inc said on Friday it would cut 7,500 jobs, mostly in its train-making division, in a second round of layoffs announced this year, following extended delays and budget overruns in its aerospace business. The unit, with a large staff in Europe, has struggled to deliver on some high-profile public transit contracts, including in Toronto.

  • MONTREAL, Oct 21- Bombardier Inc said on Friday it would cut 7,500 jobs, mostly in its train-making division, in a second round of layoffs announced this year, following extended delays and budget overruns in its aerospace business. The unit, with a large staff in Europe, has struggled to deliver on some high-profile public transit contracts, including in Toronto.

  • NEW YORK, Oct 21- A group of SunEdison Inc lenders took control of the renewable energy developer after inking a "sweetheart deal" to try to save their investment as the company approached bankruptcy, hurting other creditors, according to a lawsuit filed late Thursday in U.S. bankruptcy court. SunEdison transferred "hundreds of millions of dollars" to the lenders,...

  • Oct 21- Dick's Sporting Goods Inc, teamed up with liquidators, won a bankruptcy auction on Friday for the U.S. business of Golfsmith International Holdings Inc with a bid of about $70 million, according to a person familiar with the matter. Dick's plan to keep at least 30 Golfsmith stores and wind down the rest, the person said. Dick's also plans to retain 500...

  • The Montreal- based company, which has struggled in recent years with cost overruns in its aerospace unit, said on Friday it will cut about 7,500 jobs globally with about two-thirds of those in Bombardier Transportation. It said restructuring charges of $225 million to $275 million will be accrued as special items, beginning in the fourth quarter and through...

  • *Deal brings together Newport, Kent and Pall Mall brands. LONDON, Oct 21- British American Tobacco has offered to buy U.S. tobacco company Reynolds American Inc in a $47 billion deal that would bring together Newport, Kent and Pall Mall cigarettes in the world's biggest listed tobacco company. The British group, which has a 42 percent stake in Reynolds, said its offer...

  • SAN FRANCISCO/ BOSTON, Oct 21- The apparent lack of interest in Twitter Inc by potential suitors may force the social media company to consider a route anathema to aspiring tech startups: a major restructuring and cutting some its nearly 4,000 employees. "It's going to take some bold moves here," said David Hsu, a management professor at the University of...

  • TORONTO, Oct 20- Postmedia Network Canada Corp, one of the country's biggest newspaper publishers, reported a wider loss and a 13 percent fall in fourth-quarter revenue on Thursday, as slower print sales outpaced its savings from cost cuts. Postmedia said it had a net loss of C $99.4 million in the three months to the end of August, compared to a loss of C $54.1 million...

  • *Reports 4th- qtr adj. profit of $1.07/ shr vs est. Forecasts FY adj. profit of $4.85- $5.20/ shr, includes Rite Aid. The No. 1 U.S. drugstore operator by store count said it expected to divest the 500-1,000 stores it needs to shed to win approval for the $9.4 billion acquisition by the end of 2016, and now expects the deal to close on Jan. 27.

  • LJUBLJANA, Oct 20- Japanese electrical equipment producer Yaskawa Electric will build a robot factory in Slovenia, Prime Minister Miro Cerar told reporters in Brussels on Thursday. State news agency STA reported that the investment was likely to be around 25 million euros and that Yaskawa chose Slovenia over Slovakia, the Czech Republic and Poland, which were...