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  • Sept 16- General Electric Co said on Wednesday it had sold a $3.7 billion portfolio of loans from its British home lending business to private equity-backed Kensington Mortgage Co Ltd as it continues to shrink its financing arm, GE Capital. The deal, GE's third loan portfolio sale this year, nearly halves the size of the company's UK home lending business to less...

  • *Sees HP Enterprise 2016 adjusted profit of $1.85- $1.95/ shr. Up to 30,000 of the layoffs will be in the enterprise business and up to 3,300 in HP Inc, the company that will continue to make personal computers and printers, HP said in a regulatory filing on Wednesday. The restructuring will result in pretax charges of about $2.7 billion at HPE and $300 million at HP Inc,...

  • Sept 15- Hewlett-Packard Co said it expects to cut 25,000 to 30,000 jobs as part of its restructuring and cost-saving efforts at it enterprise services business. Hewlett-Packard had about 302,000 employees globally as of Oct. 31, 2014, according to the company's fiscal 2014 report. The enterprise business is expected to report free cash flow of $2.0 billion to...

  • Sept 15- The Chinese contractor behind the nearly complete Baha Mar mega-resort in the Bahamas scored a victory over the project's developer on Tuesday with the dismissal of the resort's U.S. Bankruptcy in favor of proceedings in the Bahamas. "Many stakeholders in the project would expect that any insolvency proceedings would likely take place in the Bahamas,"...

  • *Shares rise in overall negative market. FRANKFURT, Sept 14- Deutsche Bank aims to cut roughly 23,000 jobs, or about one quarter of total staff, through layoffs mainly in technology activities and by spinning off its PostBank division, financial sources said on Monday. That would bring the group's workforce down to around 75,000 full-time positions under a...

  • FRANKFURT, Sept 14- Deutsche Bank aims to cut roughly 23,000 jobs, or about one quarter of total staff, through layoffs mainly in technology activities and by spinning off its PostBank division, financial sources said on Monday. That would bring the group's workforce down to around 75,000 full-time positions under a reorganisation being finalised by new Chief...

  • Sept 11- Philadelphia's Please Touch Museum filed for Chapter 11 bankruptcy on Friday to carry out an agreement with its bondholders that the children's museum said would put it on stable financial ground. It moved to Memorial Hall in Fairmount Park in 2008 from a smaller downtown location. The museum's bonds have traded recently between 12 and 14 cents on the...

  • GE seeks sale of asset management arm Friday, 11 Sep 2015 | 5:53 AM ET
    General Electric

    GE seeks to sell its asset management arm to an investment management firm, as it continues to make moves to focus on its industrial products.

  • Sept 10- General Electric Co said on Thursday it would seek to sell its asset management arm to an investment management firm, as the U.S. conglomerate continues to make moves to focus on its industrial products. The plan to unload the asset management arm comes after GE announced in April it would seek to sell some $200 billion worth of its GE Capital assets as it...

  • DUBAI, Sept 10- KKR and Dubai- based Fajr Capital's joint bid for a 25 percent stake in Middle Eastern retailer Azadea Group has run into difficulties because of a disagreement over valuations, sources with knowledge of the matter said on Thursday. The Lebanon- based operator has franchises across the Middle East and North Africa for brands in fashion, food, home...

  • Seagate Technology to cut 1,050 jobs worldwide Thursday, 10 Sep 2015 | 9:00 AM ET
    A woman walks past Seagate Technology signage outside the company's headquarters in Scotts Valley, California.

    Hard-disk maker Seagate Technology said it planned to cut 1,050 jobs, or 2 percent of its workforce, as part of a restructuring program.

  • Sept 10- Hard-disk maker Seagate Technology Plc said it planned to cut 1,050 jobs, or 2 percent of its workforce, as part of a restructuring program. Seagate, which has about 52,200 employees worldwide, expects to complete the restructuring by the end of the December quarter. To help make up for a declining PC market, Seagate and rival Western Digital Corp are...

  • Seagate to cut 1,050 jobs Thursday, 10 Sep 2015 | 6:23 AM ET

    Sept 10- Hard-disk maker Seagate Technology Plc said it plans to cut 1,050 jobs, or 2 percent of its workforce, as part of a restructuring plan.

  • CHICAGO/ SAN FRANCISCO, Sept 9- West Coast regional grocer Haggen has filed for bankruptcy protection, blaming its takeover of 146 stores from rival supermarket chain Albertsons, and plans to reorganize around its profitable locations. Haggen, based in Washington state, sued Albertsons last week for damages that it said could exceed $1 billion, alleging its...

  • MOSCOW, Sept 9- Russian coal and steel producer Mechel has signed a debt restructuring deal with the country's second-largest state bank, VTB, leaving it one step away from reaching an agreement with all three of its main lenders. VTB has agreed to restructure Mechel debt worth 70 billion roubles, the bank and the miner said on Wednesday. The restructuring...

  • Sept 9- Private equity firm KKR& Co LP said it would acquire a 24.9 percent stake in London- based hedge fund Marshall Wace LLP. KKR, which did not disclose the value of the cash and common units deal, has the option to raise its stake to 39.9 percent. Marshall Wace had over $22 billion in assets under management as of Aug. 1.

  • ZURICH, Sept 9- Switzerland's ABB cut its revenue growth target on Wednesday and said it was accelerating a $1 billion cost-savings programme as the company grapples with low oil prices and a slowdown in China. His efforts have been complicated by the slowdown in China, ABB's second-biggest market, and a precipitous fall in oil prices that has dented the...

  • Sept 9- Struggling surfwear maker Quiksilver Inc said it filed for Chapter 11 bankruptcy protection for its U.S. units on Tuesday. The European and Asia-Pacific businesses are not part of the filing as those "operations remain strong," Quiksilver said. Quiksilver, which had a market capitalization of $78.14 million as of Tuesday's close, said it hired FTI...

  • Sept 9- Troubled surf and skate clothing seller Quiksilver Inc filed for Chapter 11 bankruptcy protection for its U.S. units on Tuesday, hurt by falling demand. Quicksilver has requested the court to allow Oaktree Capital Management to provide $175 million in debtor-in-possession financing for the company. The case is in U.S. Bankruptcy Court, District of...

  • Sept 8- Surf and skate clothing seller Quiksilver Inc may file for bankruptcy as early as Tuesday evening, Bloomberg reported citing sources. Oaktree Capital Management will provide debtor-in-possession financing for Quiksilver, according to people familiar with the matter, Bloomberg said. Bloomberg had reported last week that Quiksilver was seeking a...