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  • *Abengoa halts construction of 6,300 km of new power lines. SAO PAULO, Dec 8- Spanish conglomerate Abengoa, teetering on the verge of bankruptcy, has halted construction of power transmission lines in Brazil, a potential setback for the South America nation's bid to emerge from its worst energy crisis in 14 years. Abengoa, which opened pre-insolvency proceedings...

  • WASHINGTON, Dec 8- The International Monetary Fund will change its lending rules to allow it to keep supporting countries if they fail to repay official creditors, a change that would help Ukraine if it misses payments on a $3 billion debt to Russia. Russia refused to allow the Eurobond, which matures on Dec. 20, to be included in Ukraine's recent debt restructuring,...

  • Dec 8- L-3 Communications Holdings Inc said it would sell its government services division, National Security Solutions, to smaller defense contractor CACI International Inc for $550 million in cash. L-3 and CACI finalized the terms of the agreement early Tuesday morning, aided by strong ties between Chris Kubasik, L-3's chief operating officer, and Ken...

  • Dec 8- L-3 Communications Holdings Inc said it would sell its government services division, National Security Solutions, to smaller defense contractor CACI International Inc for $550 million in cash.

  • HAVANA, Dec 7- Cuba is near a deal with 15 rich creditor nations of the Paris Club to restructure $16 billion in debt stemming from a 1986 default, with creditors expected to forgive most of the amount owed, diplomats close to the talks said. Cuba has secured investment agreements from creditors in previous debt negotiations and is seeking similar commitments...

  • Dec 7- Fuhu Holdings Inc, a maker of kid-friendly computer tablets, has filed for Chapter 11 bankruptcy protection, according to a court filing on Monday. The El Segundo, California- based startup, which Forbes magazine called America's most promising company in 2014, said it had assets and liabilities of $10 million- $50 million. The case is in U.S. Bankruptcy Court,...

  • LONDON, Dec 7- British outsourcing firm Serco said on Monday it expected revenue and trading profit to fall in 2016, due to the sale of its offshore call center business and a number of lost contracts. Serco has suffered over the past few years, following problems with government contracts that included overcharging the British government for monitoring...

  • NEW YORK, Dec 4- The U.S. Supreme Court on Friday agreed to hear Puerto Rico's bid to reinstate a law that would allow restructuring of the U.S. territory's public agencies as the Caribbean island grapples with its huge debt load. DAVID TAWIL, PRESIDENT, MAGLAN CAPITAL, NEW YORK. "I think that Congress is not about to do anything.

  • WASHINGTON, Dec 4- The U.S. Supreme Court on Friday agreed to hear Puerto Rico's bid to reinstate a law that would allow restructuring of the U.S. territory's public agencies as the island grapples with its huge debt load. Puerto Rico passed the law to give certain public corporations, with around $20 billion in debt, the ability to restructure financially in an...

  • WASHINGTON, Dec 4- The U.S. Supreme Court on Friday agreed to hear Puerto Rico's bid to reinstate a law that would allow restructuring of the U.S. territory's public agencies as the island grapples with its huge debt load. The high court will decide whether the 2014 law, known as the Recovery Act, conflicts with U.S. federal bankruptcy law. The court also took up a...

  • Dec 4- American Apparel Inc founder and former Chief Executive Dov Charney said he was exploring plans with potential and existing investors and industry executives to revive the bankrupt company. Charney, who founded the teen apparel retailer in 1989, said on Friday he had hired Cardinal Advisors LLC to advise it on the process. Charney lost 42 percent stake...

  • Dec 4- Barclays Plc plans to cut more jobs in its investment banking unit, a source familiar with the matter said, as the British bank steps up efforts to slash costs and boost profit. Bloomberg reported earlier in the day that Barclays would cut 20 percent more investment banking jobs, citing the bank's Chief Executive Jes Staley. Barclays is midway through a...

  • SAO PAULO, Dec 4- Grupo BTG Pactual SA, the embattled Brazilian investment bank shedding assets after the arrest of its founder, is in talks with three unspecified international banks over the sale of Swiss private bank BSI Group, a source with knowledge of the plan said. The decision to dispose of BSI, which BTG Pactual integrated only three months ago following...

  • SAO PAULO, Dec 3- U.S. buyout firm Cerberus Capital Management LP has shown preliminary interest in Grupo BTG Pactual SA's stake in debt collection company Recovery do Brasil, which the embattled Brazilian investment bank wants to sell to raise cash, a person with direct knowledge of the matter said on Thursday. BTG Pactual, Latin America's largest independent...

  • SAN FRANCISCO/ BENGALURU, Dec 3- An activist investor on Thursday renewed its push for Yahoo Inc to abandon its plans to spin off its valuable stake in Chinese e-commerce giant Alibaba Group Holding Ltd and instead sell its core business "at the highest price possible." Yahoo's board, which includes co-founder David Filo, Wal-Mart Stores Inc former Chief...

  • WILMINGTON, Del., Dec 3- A U.S. judge said on Thursday he would approve Energy Future Holdings Corp's plan of reorganization, clearing a major hurdle toward ending the contentious bankruptcy for Texas's biggest power company. Bankruptcy Judge Christopher Sontchi spent nearly two hours reading a pair of rulings that confirm the plan, the product of more than 18...

  • Dec 3- Office supplies retailer Staples Inc is willing to sell more assets to win antitrust approval for its $6.3 billion takeover of Office Depot Inc, Bloomberg reported on Thursday, citing two people familiar with the matter. Under the deal announced in February, Staples had offered to divest about half of Office Depot's assets with revenues of up to $1.25...

  • WILMINGTON, Del, Dec 3- Energy Future Holdings Corp had presented evidence that "overwhelmingly supported" approval of the company's bankruptcy exit plan, a U.S. judge said on Thursday, although he made an exception for the payment of some legal fees. Bankruptcy Judge Christopher Sontchi made the comment as he began reading his opinion on the proposal by Texas's...

  • Dec 3- Video-conferencing equipment maker Polycom Inc said it would cut about 11 percent of its workforce. The company also said on Thursday that it would reduce or eliminate some leased facilities and close its Israel office. Polycom said it would incur $22 million- $25 million in charges related to the job cuts and restructuring in the fourth quarter of 2016..

  • Dec 3- GE said on Thursday it had signed a memorandum of understanding with Banque Federative du Credit Mutuel for the potential sale of its Equipment Finance and Receivable Finance businesses in France and Germany. The potential transaction, subject to approval by regulatory and anti-trust authorities, would represent an ending net investment of $7.5...