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Leadership Business Events

  • March 28- Ocean RIG UDW Inc, a Cyprus- based rig contractor, filed for Chapter 15 bankruptcy protection in a U.S. court amid a deep and prolonged downturn in the industry. The company had $3.25 billion in debt as of Dec. 31, according to its latest annual filing. Last year, Hercules Offshore Inc filed for bankruptcy protection, just six months after emerging from its...

  • The Cyprus- based company, which had $3.25 billion in debt as of Dec. 31, filed for bankruptcy in the United States Bankruptcy Court for Southern District of New York on Monday. Ocean Rig's chief executive, George Economou, said last year that the company would consider alternatives, including a possible reorganization under US bankruptcy laws.

  • STOCKHOLM, March 28- An attempt by Ericsson's new chief executive to lay out his strategy for the Swedish telecoms equipment maker backfired on Tuesday when it exposed problems related to some of its main contracts. Chief Executive Borje Ekholm, who took charge only in January, announced up to $1.7 billion in provisions, writedowns and restructuring costs to be...

  • LONDON, March 28- Barclays is in exclusive talks to sell its stake in its Zimbabwe unit to Malawi- based First Merchant Bank, the lenders said on Tuesday, as the British bank continues its exit from Africa. First Merchant Bank said in a statement on its website it was in exclusive talks to buy out the 68 percent of Barclays Bank of Zimbabwe owned by the British company.

  • TOKYO, March 28- Japanese Finance Minister Taro Aso said on Tuesday he did not want to comment on media reports that Toshiba Corp's U.S nuclear unit, Westinghouse, will file for Chapter 11 bankruptcy protection.

  • MOSCOW, March 27- Russia's biggest bank Sberbank is selling its subsidiary in Ukraine to a consortium of investors, which include Norvik Bank and a Belarussian private company, Sberbank said in a statement on Monday. Ukraine recently imposed sanctions on Sberbank and other Russian state-owned banks operating in Ukraine as part of a broader flare-up in...

  • MOSCOW, March 27- Russia's biggest bank Sberbank is selling its subsidiary in Ukraine to a consortium of investors, which include Norvik Bank and a Belarussian private company, Sberbank said in a statement on Monday. Ukraine recently imposed sanctions on Sberbank and other Russian state-owned banks operating in Ukraine as part of a broader flare-up in...

  • MOSCOW, March 27- Russia's biggest bank Sberbank is selling its subsidiary in Ukraine to a consortium of investors, which include Norvik Bank and a Belarussian private company, Sberbank said in a statement on Monday. The deal is expected to close in the first half of 2017 after receiving approval by the financial and anti-monopoly regulators of relevant...

  • A worry for Prime Minister Shinzo Abe is that a bankruptcy would give President Donald Trump cause to criticise Japanese firms operating in the United States. "Westinghouse is a major employer and nuclear industry company with ongoing nuclear new build projects in two different states, one of which is supported by U.S. Department of Energy loan guarantees,"...

  • March 27- Sealed Air Corp said it would sell its cleaning and chemicals systems division, Diversey Care, and its food hygiene and cleaning business to Bain Capital Private Equity for about $3.2 billion, as it focuses on its higher-margin businesses. Sealed Air acquired Diversey in 2011 from its controlling shareholders, the Johnson family and private equity...

  • A worry for Prime Minister Shinzo Abe is that a bankruptcy would give President Donald Trump cause to criticise Japanese firms operating in the United States. "Westinghouse is a major employer and nuclear industry company with ongoing nuclear new build projects in two different states, one of which is supported by U.S. Department of Energy loan guarantees,"...

  • TOKYO, March 27- Toshiba Corp's U.S nuclear unit could file for Chapter 11 protection from creditors as early as Tuesday, according to a source with direct knowledge of the matter, hoping to ring fence losses ahead of the end of its financial year. Separate sources with knowledge of the matter said last Friday Toshiba had informed its main banks that it was...

  • TOKYO, March 27- Westinghouse Electric Co, the U.S. nuclear unit of Japan's Toshiba Corp, could file for bankruptcy protection as early as Tuesday and is seeking. Sources told Reuters on Friday that Toshiba had told its main banks it planned to have Westinghouse file for bankruptcy on Friday, expanding charges related to the U.S. unit this business year to about 1...

  • TOKYO, March 27- Westinghouse Electric Co, the U.S. nuclear unit of Japan's Toshiba Corp, could file for bankruptcy protection as early as Tuesday and is seeking. support from South Korea's Korea Electric Power Corp. Sources told Reuters on Friday that Toshiba had told its main banks it planned to have Westinghouse file for bankruptcy on Friday, expanding charges...

  • SAO PAULO, March 24- The two biggest bondholder groups in Brazilian telephone operator Oi SA said on Friday they "strongly oppose" the terms of a new debt restructuring plan the company intends to present in bankruptcy court. Oi is Brazil's No. 4 wireless carrier. Last June, the company sought court protection from creditors on about 65 billion reais in Brazil's...

  • *Westinghouse to file for Chapter 11 on March 31. TOKYO, March 24- Japan's Toshiba Corp has informed its main lenders it is planning for U.S. nuclear unit Westinghouse Electric Co LLC to file for bankruptcy on March 31, people briefed on the matter said on Friday. Toshiba expects a Chapter 11 filing for Westinghouse would expand charges related to the U.S. unit in the...

  • TOKYO, March 24- Japan's Toshiba Corp has informed its main lenders it is planning for its U.S. nuclear unit Westinghouse Electric Co LLC to file for bankruptcy on March 31, people briefed on the matter said on Friday. Toshiba expects a Chapter 11 filing for Westinghouse would expand charges related to the U.S. unit in the current financial year to around 1 trillion...

  • TOKYO, March 24- Toshiba Corp's main lenders are asking it to submit a bankruptcy filing for U.S. nuclear unit Westinghouse Electric Co LLC by the end of this month, the Nikkei business daily reported on Friday, without citing sources. Such a move would pile further pressure on the embattled conglomerate to make a quick decision over a Chapter 11 filing after...

  • TOKYO, March 24- Toshiba Corp's main lenders are asking Toshiba to submit a bankruptcy filing for its U.S. nuclear unit Westinghouse Electric Co LLC by the end of this month, the Nikkei business daily reported on Friday, without citing sources. Sumitomo Mitsui Banking Corp and Mizuho Bank Ltd have asked that Westinghouse file for Chapter 11 so that future losses...

  • Bankruptcy Judge Barry Schermer in St. Louis approved last week a plan by Peabody, which has valuable coal assets both in the United States and Australia, to emerge from bankruptcy in early April with about $2 billion of debt. In a notice of appeal filed with the Bankruptcy Court in St. Louis, about a dozen money managers who voted against the plan asked an appellate...