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Leadership Business Events

  • BOGOTA/ MADRID, March 14- Colombia's government regulator said on Tuesday it had ordered the liquidation of Electricaribe, an affiliate of Spain's Gas Natural, but the company had asked Colombia to find a way to allow it to keep trading there. But a source familiar with the matter said on Tuesday that Gas Natural would file a complaint within 15 days with the World...

  • NEW YORK/ FRANKFURT, March 14- Deutsche Bank is replacing its U.S. chief Bill Woodley with the global head of its stock-trading business, Thomas Patrick, people close to the matter said, in a sign of its intent to restructure its Wall Street business. The bank announced earlier this month that Chief Executive John Cryan would personally oversee the bank's U.S....

  • TOKYO, March 14- Japanese stocks edged down on Tuesday ahead of an expected U.S. interest rate hike, while Toshiba shares were volatile, due to its delayed earnings filing and concerns about its restructuring plan. The Nikkei share average shed 0.1 percent to 19,609.50. Toshiba Corp dove as much as 8.3 percent in the morning after the company said that it asked...

  • SAO PAULO, March 13- Brazilian meatpacker and food processor JBS SA on Monday said it reached an agreement to acquire U.S.-based ham and bacon producer Plumrose USA for $230 million, according to a securities filing. The Brazilian company said the deal includes five prepared foods plants located in Indiana, Iowa, Mississippi and Vermont and two distribution...

  • March 13- Alexion Pharmaceuticals Inc said on Monday it has initiated a company-wide restructuring that will affect about 7 percent of its workforce. The rare-disease drug maker, which has been looking to steady the ship following the exit of its top management, had 3,121 employees as of Dec. 31. Alexion's chief executive and chief financial officer resigned in...

  • NEW YORK, March 13- Puerto Rico Governor Ricardo Rossello said on Monday he does not want to "destroy" the pending debt restructuring deal for the island's ailing power utility, but wants to "get a better one" as the U.S. territory's fiscal situation worsens. Rossello said in an interview that he was invited to Washington for a U.S. congressional hearing on March 22 to...

  • SAO PAULO, March 13- Grupo Schahin said on Monday it can execute a reorganization plan after an appeals court favored the ailing Brazilian engineering and rig-leasing conglomerate over disgruntled creditors, according to a statement. The reorganization, confirmed by a bankruptcy court a year ago, was challenged by a 13- bank consortium led by Itaú Unibanco...

  • CHICAGO, March 13- Archer Daniels Midland Co, one of the world's largest agricultural traders, will widen its operations in China to produce fish feed, the company said on Monday, amid increasing global demand for fish from health-conscious consumers. The Chicago- based company said it will build a new plant in Xiangtan, in central China, with capacity to produce...

  • *Etisalat may exit Nigeria over debt default. *To meet lenders in Nigeria on Tuesday or Wednesday. DUBAI/ LAGOS, March 13- Abu Dhabi telecoms group Etisalat may sell its stake in Etisalat Nigeria, which has defaulted on a $1.2 billion loan, but wants the company's debt restructured before it does so, two sources told Reuters on Monday.

  • March 10- Britain's largest listed industrial property developer, Segro plc, said it bought the remaining 50 percent stake in the Airport Property Partnership joint venture from the Aviva Group Entities for 365 million pounds. Segro, which acquired the original stake in 2010, said the deal was funded by 216 million pounds in cash and the disposal of assets,...

  • *Toshiba has March 14 deadline to published audited Q3. TOKYO, March 10- Toshiba Corp's Westinghouse unit needs to decide by the end of the month whether to file for Chapter 11 bankruptcy so the Japanese conglomerate can compile audited third-quarter earnings without further delays, Japan's Finance Minister said on Friday. If it misses that date, it has eight...

  • TOKYO, March 10- Japan's Finance Minister Taro Aso said on Friday he thought Toshiba Corp's prospects of reporting its third-quarter earnings by a March 14 deadline depend in large part on whether its nuclear unit Westinghouse decides to file for Chapter 11 bankruptcy. "On the U.S. side, they have to decide about Chapter 11 quickly and until they do that, it seems it...

  • CHICAGO, March 9- Four individual investors of Peabody Energy Corp are accusing the company, certain hedge funds and other parties involved in the coal producer's Chapter 11 bankruptcy of breaching their fiduciary duties, according to a lawsuit filed on Thursday. Peabody spokesman Vic Svec said on Thursday that the company stands by its reorganization plan.

  • CHICAGO, March 9- Four individual investors of Peabody Energy Corp are accusing the company, certain hedge funds and other parties involved in the coal producer's Chapter 11 bankruptcy of breaching their fiduciary duties, according to a lawsuit filed on Thursday. Peabody spokesman Vic Svec said on Thursday that the company stands by its reorganization plan.

  • CHICAGO, March 9- Four individual investors of Peabody Energy Corp are accusing the company, certain hedge funds and other parties involved in the coal producer's Chapter 11 bankruptcy of breaching their fiduciary duties, according to a lawsuit filed on Thursday. Peabody has denied the allegations in the lawsuit, which was filed with the U.S. Bankruptcy Court...

  • LONDON, March 9- Royal Dutch Shell has agreed to sell most of its Canadian oil sands assets for $8.5 billion, the latest international oil major to withdraw from the costly and carbon-heavy projects. Shell is trying to sell assets totalling $30 billion to cut debt following its $54 billion acquisition of BG Group and is under investor pressure to mitigate...

  • MILAN, March 9- Struggling Italian bank Monte dei Paschi di Siena has approved a long-awaited preliminary restructuring plan that must now be cleared by European authorities for the lender to be granted a state bailout. The European Central Bank has since put the capital shortfall that the lender must fill at 8.8 billion euros, and the Italian government is...

  • March 9- Wells Fargo& Co has taken further steps to restructure its retail banking business, demoting some senior executives within the bank, the Wall Street Journal reported on Thursday, citing employees and memos. Mary Mack, who took over the retail banking unit in July, wrote in a memo on Tuesday that she was reorganizing groups within the business to expand its...

  • March 9- Exxon Mobil Corp said on Thursday it would buy a 25 percent stake in a natural gas-rich block, offshore Mozambique, from Italy's Eni for $2.8 billion in cash. The offshore gas reserves discovered by Eni in Mozambique are large enough to need a giant liquefied natural gas export plant. Eni, which operates Area 4, currently holds a 50 percent indirect stake in...

  • NEW YORK/ TOKYO, March 9- U.S. nuclear firm Westinghouse Electric Co LLC has hired bankruptcy attorneys, in a sign that owner Toshiba Corp is more seriously weighing a Chapter 11 filing as an option to help it rein in a multibillion dollar financial maelstrom. People familiar with the matter said the nuclear engineering company had brought in law firm Weil Gotshal&...