Leadership Business Events

  • TOKYO, Sept 23- Japan plans to rush through a bill to provide more financial muscle for its companies to compete for global energy assets, just as other resource-hungry Asian economies such as China and India are also looking to snap up depressed oil assets. Prime Minister Shinzo Abe's cabinet intends to revise a law governing the Japan Oil, Gas and Metals...

  • Moller-Maersk is in talks to buy a portfolio of North Sea assets from Royal Dutch Shell as the Danish group considers adding scale to its oil and gas business ahead of a planned spin off, banking sources said. Maersk has said over the past year that it planned to invest several billions of dollars to expand its oil operations, although it is now likely to face bigger...

  • *Ericsson says job cuts to be made worldwide, Sweden not excluded. STOCKHOLM, Sept 22- Mobile telecoms equipment maker Ericsson plans to close the last of its Swedish manufacturing sites as part of planned savings, cutting about 3,000 jobs, Swedish daily Svenska Dagbladet reported. The decision ends 140 years of production in Sweden for the company that began as a...

  • CHICAGO, Sept 21- Caesars Entertainment Corp said on Wednesday it proposed along with its private equity backers a settlement offer with an added $1.6 billion for creditors of its casino operating unit, raising hopes of an end to the subsidiary's costly bankruptcy. Apollo Global Management and TPG Capital Management, the private equity firms that control the...

  • LONDON, Sept 21- European shares hit a one-week high on Wednesday before the outcome of a Fed meeting, with banks rallying after a policy overhaul at the Bank of Japan lifted risky assets globally. Spain's Banco Popular jumped 9.1 percent after saying it would cut around 300 bank branches as part of a restructuring plan. Europe took its cue from Asian markets, which...

  • TORONTO, Sept 21- The province of Ontario said on Wednesday that it has signed an agreement with equity fund Bedrock Industries LP to restructure U.S. Steel Canada, which has been in creditor protection since September 2014, and the court supervising the company's credit protection proceeding, Ontario's government said in a statement. Steel Canada's plants in...

  • Sept 21- General Mills Inc reported a drop in quarterly net sales for the fifth straight quarter, hurt mainly by weak demand for its Yoplait yogurt and Progresso soup and the sale of its Green Giant frozen vegetable business. The maker of Cheerios cereal said net earnings attributable to the company fell to $409 million, or 67 cents per share, in the first quarter...

  • MILAN/ LONDON, Sept 20- Italian oil major Eni has delayed the planned $3.4 billion sale of its domestic retail business, sources said, as political uncertainty caused by an upcoming referendum on democratic reform hinders major deals across the country. The delay in selling the gas and power business, estimated to be worth up to 3 billion euros, follows the...

  • MILAN/ LONDON, Sept 20- Italian oil major Eni has delayed the planned $3.4 billion sale of its domestic retail business, sources said, as political uncertainty caused by an upcoming referendum on democratic reform hinders major deals across the country. The delay in selling the gas and power business, estimated to be worth up to 3 billion euros, follows the...

  • *U.S. to provide Israel $38 bln in military aid over 10 years. Deal phases out Israel ability to spend 26.3 pct locally. JERUSALEM, Sept 20- Israel's defence industry faces layoffs, closures and a scramble to set up shop in the United States following the signing of a new U.S. military aid package that phases out Israel's ability to spend a quarter of the funds on its own...

  • *U.S. to provide Israel $38 bln in military aid over 10 years. Deal phases out Israel ability to spend 26.3 pct locally. JERUSALEM, Sept 20- Israel's defense industry faces layoffs, closures and a scramble to set up shop in the United States following the signing of a new U.S. military aid package that phases out Israel's ability to spend a quarter of the funds on its own...

  • TOKYO, Sept 20- Shares in Takata Corp fell as much as 9 percent on Tuesday after a Bloomberg report that some of the company's bidders are considering the possibility of some form of bankruptcy proceedings for the troubled Japanese air bag maker. Citing people familiar with the bidding process, Bloomberg reported on Monday that a bankruptcy option was being...

  • SAO PAULO, Sept 19- A Brazilian state appeals court postponed on Monday a vote on the legality of several aspects of Grupo OAS SA's restructuring plan for at least a couple of weeks, adding uncertainty to efforts by the debt-laden engineering conglomerate to emerge from bankruptcy protection. The ongoing delay in the plan has halted the surrender of OAS's stake...

  • Sept 19- Twitter Inc said on Monday it would lay off some employees and halt engineering work at one of its development centers in India's technology hub Bengaluru. Twitter said it remained committed to India as a strategic market and would continue to maintain a presence in the city. However, it did not disclose the number of employees it had in India.

  • Sept 19- Twitter Inc said on Monday it would lay off some employees and halt engineering work at one of its development centers in Bengaluru. The company, which also has offices in Mumbai and Delhi, said it would continue to maintain a presence for other operations in the city, which is considered India's technology hub. "Twitter remains committed to India as a...

  • STOCKHOLM, Sept 19- Swedish utility Vattenfall aims to sell its new coal-fired plant in Moorburg, Germany, some time in the next five years, its chief executive said on Monday. State-owned Vattenfall earlier this year agreed to sell other, loss-making, lignite coal mines and power plants in Germany to Czech investor EPH, saying it would become one of the greenest...

  • Sept 19- TerraForm Global Inc and TerraForm Power Inc, the "yieldcos" of bankrupt solar company SunEdison Inc, said on Monday they were exploring strategic alternatives, including a sale of their entire business. TerraForm Power's shares were up 3.4 percent at $13.49 in early trading, while TerraForm Global was up 7.4 percent at $3.65. Some of the strategic...

  • Some of the strategic alternatives for TerraForm Global and TerraForm Power may require stockholder approval, while some may require approval of the U.S. Bankruptcy Court for the Southern District of New York, the companies said. TerraForm Global has engaged Centerview Partners, Greentech Capital Advisors and AlixPartners as financial advisers.

  • Sept 19- Publisher Torstar Corp said on Monday it had agreed to sell the land and buildings of the former printing plant of the Toronto Star for about C $54.3 million. The publisher of Canada's biggest-circulation daily newspaper did not disclose the buyers of the properties in Vaughan, Ontario. The company announced in January that it was closing the Toronto...

  • SAO PAULO, Sept 16- Viver Incorporadora& Construtora SA filed for bankruptcy protection on Friday, becoming the first listed Brazilian homebuilder ever to seek an in-court reorganization amid a harsh recession, tough refinancing conditions and slumping home prices. In a securities filing, Viver said management and advisers, led by Alvarez& Marsal Holdings...