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  • Sprint to slash jobs, costs by $2.5B: Report Friday, 2 Oct 2015 | 9:17 AM ET
    Pedestrians walk past a Sprint store in Washington, D.C.

    Sprint plans to cut an unspecified amount of jobs and $2 billion to $2.5 billion in costs in the next six months, The Wall Street Journal reported.

  • NEW YORK, Oct 1- Puerto Rico's electric power authority, PREPA, has extended by two weeks an agreement with its bondholders and lenders that was to expire at the close of Thursday, while it is continuing to try to negotiate a deal with its bond insurers, the utility said on Thursday. Reducing PREPA's $9 billion in debt has been seen as a critical test for the U.S....

  • NEW YORK, Oct 1- Puerto Rico's electric power authority, PREPA, has extended by two weeks an agreement with its bondholders and lenders that was to expire at the close of Thursday, while it is continuing to try to negotiate a deal with its bond insurers, the utility said on Thursday. The agreement is extended until Oct. 15, PREPA said. Reducing PREPA's $9 billion in debt...

  • Oct 1- Sprint Corp plans to cut an unspecified amount of jobs and about $2- $2.5 billion in costs in the next six months, the Wall Street Journal reported, citing an internal memo. "We have begun an effort to significantly take costs out of the business so the transformation of the company will be sustainable for the long-term," Sprint spokesman Dave Tovar told Reuters...

  • NEW YORK, Oct 1- Puerto Rico's electric power authority is expected to extend a creditor agreement expiring at the end of Oct. 1 with a bondholder group, to allow debt restructuring negotiations with bond insurers to continue, a source familiar with the bondholders said on Thursday. Reducing PREPA's $9 billion in debt has been seen as a critical test for the U.S....

  • Chipmaker AMD to cut 5 pct of global workforce Thursday, 1 Oct 2015 | 4:19 PM ET

    Oct 1- Chipmaker Advanced Micro Devices Inc said it would cut 5 percent of its global workforce as part of a restructuring plan.

  • NEW YORK, Oct 1- Puerto Rico's electric power authority PREPA is expected to extend a creditor agreement expiring at the end of day Thursday with a bondholder group, to allow debt restructuring negotiations with bond insurers to continue, a source familiar with the bondholders said on Thursday. PREPA in September agreed to deals with the bondholder group and...

  • Oct 1- ConAgra Foods Inc said it will cut about 1,500 jobs and outsource technology and back office positions, joining other packaged food companies in announcing cost cuts, and the company also plans to move its headquarters to Chicago from Omaha. ConAgra rivals including Campbell Soup Co and General Mills have cut jobs and costs as consumers shift to fresher...

  • Oct 1- ConAgra Foods Inc said it will cut about 1,500 jobs, or about 30 percent of its office-based workforce, and outsource technology and back office functions to reduce costs. The maker of Slim Jim beef jerky and Chef Boyardee pasta said it expects to save at least $300 million in the next three years due to the cost cuts. The company also said it plans to move its...

  • JOHANNESBURG, Oct 1- Miner and commodities trader Glencore, which is reviewing its operations in the face of a slump in commodities prices, announced more job cuts at its mines in South Africa on Thursday. Gugulethu Maqetuka, a spokesman for Glencore in South Africa, said the Swiss-based company had laid off 240 workers at its South Witbank coal mine in...

  • *Cuts could be announced this week; Walmart declines comment. Sept 30- Wal-Mart Stores Inc is planning to lay off hundreds of people at its headquarters in Arkansas as part of the retail giant's efforts to pare costs, people familiar with the matter said. The cuts will make up a small portion of the more than 18,000 people employed at the Bentonville, Arkansas office...

  • Wal-Mart to cut jobs at headquarters -WSJ Wednesday, 30 Sep 2015 | 9:43 PM ET

    Sept 30- Wal-Mart Stores Inc is planning a round of layoffs as early as Friday that would affect hundreds of employees at its headquarters in Arkansas, the Wall Street Journal reported, citing people familiar with the matter. Wal-Mart and its units had about 2.2 million employees globally, with nearly 1.4 million associates in the United States, as of the end of...

  • NEW YORK, Sept 30- Debt restructuring talks over Puerto Rico's financing arm, the Government Development Bank, have begun between a group of bondholders and the bank, a source familiar with the situation said, after the creditors signed non-disclosure agreements earlier on Wednesday. Puerto Rico officials earlier in September proposed restructuring $18...

  • News Corp sells digital education brand Amplify Wednesday, 30 Sep 2015 | 6:44 PM ET

    Sept 30- News Corp said it sold its digital education brand, Amplify, to a management team supported by a group of private investors following slowing growth in the digital curriculum market. News Corp said in August that it was reviewing strategic options for Amplify and that it was in the final phase of talks with a potential acquirer for the business.

  • Sept 30- PBF Energy Inc agreed to buy Exxon Mobil Corp's refinery in Torrance, California, for $537.5 million, completing Executive Chairman Tom O'Malley's vision to have PBF plants coast to coast. With this latest purchase in California, PBF has a greater opportunity to compete with Valero, Phillips66 and other refiners with a broad national presence, said John...

  • New Hope Corp buys 40 pct stake for $606 million. *Glencore still seen interested in remaining Rio coal stakes. SYDNEY/ MELBOURNE, Sept 30- Global miner Rio Tinto on Wednesday said it had agreed to sell its 40 percent stake in the Bengalla coal mine in Australia to New Hope Corp for $606 million, the latest shuffle of Australian coal assets amid a sector-wide downturn.

  • RPT-FACTBOX-Glencore's assets at a glance Wednesday, 30 Sep 2015 | 2:30 AM ET

    Sept 29- Mining and trading group Glencore has said it plans to sell assets as part of a wider plan to cut heavy debts built up through years of rapid expansion. Below are some of Glencore's assets. *Glencore says it plans to sell minority stakes in its agriculture assets, including infrastructure, to strategic investors.

  • *New Hope Corp buys 40 pct stake for $606 million. *Glencore once seen as potential suitor. SYDNEY, Sept 30- Global miner Rio Tinto on Wednesday said it had agreed to sell its 40 percent stake in the Bengalla coal mine in Australia to New Hope Corp for $606 million, the latest shuffle of Australian coal assets amid a sector-wide downturn.

  • TORONTO, Sept 29- Hudson's Bay Co plans to eliminate 265 corporate jobs, mostly in the United States, and cut costs to save C $75 million as it streamlines its North American operations, the department store operator said on Tuesday. Hudson's Bay, which also owns the Lord& Taylor banner in the United States, bought the Saks luxury chain in 2013 for $2.4 billion.

  • TORONTO, Sept 29- Hudson's Bay Co plans to eliminate 265 headquarter and other corporate jobs and cut costs to save C $75 million as it streamlines its North American operations, the department store operator said on Tuesday. Hudson's Bay, which also owns the Lord& Taylor banner in the United States, bought the Saks luxury chain in 2013 for $2.4 billion.