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Leadership Business Events

  • Sept 9- Hanjin Shipping Co Ltd has received authority to spend the money needed to dock at U.S. ports and begin unloading four vessels that have been stranded at sea by the company's failure last week, a company lawyer told a U.S. court on Friday. "We have the money to fully service those four ships," Ilana Volkov, an attorney for Hanjin, told a U.S. Bankruptcy Court hearing...

  • Sept 9- Hanjin Shipping Co Ltd has received authority to spend the money needed to dock at U.S. ports and begin unloading four vessels that have been stranded at sea by the company's failure last week, a company lawyer told a U.S. court on Friday. "We have the money to fully service those four ships," Ilana Volkov, a Hanjin attorney, told a U.S. Bankruptcy Court hearing in...

  • Sept 9- Hanjin Shipping Co Ltd has received authority to spend the money needed to dock at U.S. ports and begin unloading four vessels that have been stranded at sea by the company's failure last week, a company lawyer told a U.S. court on Friday. "We have the money to fully service those four ships," Ilana Volkov, a Hanjin attorney, told a U.S. Bankruptcy Court hearing in...

  • *Samsung Group has been divesting from non-core businesses. Samsung Electronics and the broader Samsung Group have been divesting from or exiting non-core businesses as part of a broader restructuring process for South Korea's top family-run conglomerate under the stewardship of de facto leader Jay Y. Lee. Samsung Electronics in 2014 decided to end its LED...

  • NEW YORK, Sept 9- U.S. oil refiners, beset by the weakest profit margins in six years, have been laying off workers, revamping operations and ratcheting up pressure on regulators and lawmakers to tweak the renewable fuel program, whose costs have ballooned. They spent $1.1 billion on the credits in the first half of the year, just short of a record $1.3 billion in all of...

  • SAO PAULO, Sept 8- Oi SA, Brazil's largest fixed-line telephone carrier, said the Rio de Janeiro court overseeing its bankruptcy protection maintained the suspension of shareholder meetings originally scheduled for this Thursday, according to a securities filing. The shareholder meetings were called by activist investor Société Mondiale in August, but...

  • Sept 8- Dell Technologies, which completed the acquisition of data storage company EMC Corp on Wednesday, will cut 2,000-3,000 jobs, Bloomberg reported. Most of the job cuts will be in the United States, Bloomberg reported on Thursday, citing people familiar with the matter. The layoffs will be mainly in supply chain, marketing and general and administrative...

  • Sept 8- Dell Technologies, which completed the acquisition of data storage company EMC Corp on Wednesday, will cut 2,000-3,000 jobs, Bloomberg reported. Most of the job cuts will be in the United States, Bloomberg reported on Thursday, citing people familiar with the matter. Dell, which was taken private by founder Michael Dell along with private equity firm...

  • Sept 8- German chemicals and crop pesticides firm Bayer AG is exploring the sale of its dermatology business to push forward its deal with Monsanto Co, Bloomberg reported, citing sources. Bayer is working with JPMorgan Chase& Co on the sale, which could fetch more than 1 billion euros, the report said. The dermatology business could attract interest from existing...

  • *UK company buys HPE's software assets in $8.8 bln deal. LONDON/ NEW YORK Sept 7- Hewlett-Packard Enterprise agreed to sell its software business to Micro Focus in a $8.8 billion deal that shrinks the Silicon Valley pioneer again while catapulting the little-known British firm into the top tier of European tech companies. Micro Focus approached HPE in February,...

  • *UK company buys HPE's software assets in $8.8 bln deal. LONDON/ NEW YORK Sept 7- Hewlett-Packard Enterprise agreed to sell its software business to Micro Focus in a $8.8 billion deal that shrinks the Silicon Valley pioneer again while catapulting the little-known British firm into the top tier of European tech companies. Micro Focus approached HPE in February,...

  • DUBAI/ RIYADH, Sept 8- The Saudi Arabian government has ended talks aimed at saving construction giant Saudi Oger, which is now facing the prospect of a multi-billion-dollar debt restructuring to stave off collapse, according to sources aware of the matter. Oger, owned by the family of former Lebanese Prime Minister Saad Hariri, was one of two mega-contractors...

  • TORONTO, Sept 7- Debt and equity investors in Canada's largest newspaper publisher have approved a restructuring plan that will give creditors nearly all of its equity and slash its debt obligations, Postmedia Network Canada Corp said on Wednesday. Postmedia, which owns the National Post, Montreal Gazette, Calgary Herald, Ottawa Citizen and Sun tabloids in...

  • SHANGHAI/ HONG KONG, Sept 7- Societe Generale is in talks to sell its 49 percent stake in a mutual fund joint venture with China's Baosteel Group to global private equity firm Warburg Pincus, according to people familiar with the matter. In 2003, it teamed up with state-owned Baosteel Group, which operates China's second-largest steelmaker, to create joint...

  • KHOBAR, Saudi Arabia, Sept 7- Saudi Basic Industries Corp has agreed to sell its Polymershapes unit to U.S. investment firm Blackfriars Corp, SABIC said without giving a value for the deal. The unit is the world's largest distributor of plastic sheet, rod, tube and film, serving over 35,000 customers with a distribution network of more than 75 branches in the United...

  • SAN FRANCISCO, Sept 6- Korean shipping line Hanjin Shipping Co Ltd won an order on Tuesday from a U.S. judge extending bankruptcy protections so its vessels can dock at U.S. ports without fear creditors will try take actions against the ships as they have in other countries. Bankruptcy Judge John Sherwood approved a motion by the world's seventh largest...

  • SAO PAULO, Sept 6- Brazil's state-run oil company Petroleo Brasileiro SA agreed to sell 90 percent of its natural gas pipeline unit to a group of investors led by Canada's Brookfield Asset Management Inc for $5.2 billion, a source with direct knowledge of the deal said on Tuesday. Brazil's state oil company, known as Petrobras, declined to comment on the matter, and...

  • SAO PAULO, Sept 6- Brazil's Petroleo Brasileiro SA agreed to sell 90 percent of its natural gas pipeline unit to a group of investors led by Canada's Brookfield Asset Management Inc for $5.2 billion, a source with direct knowledge of the deal said on Tuesday. The investor group includes British Columbia's pension fund and Chinese and Singaporean sovereign...

  • ABU DHABI, Sept 6- A new bankruptcy law in the United Arab Emirates promises to reduce the risks of doing business in the country by allowing businessmen and executives to avoid time in jail if their companies fail to pay debts. This is an important step for the UAE, "he said. At present the UAE does not have modern bankruptcy regulations, making it difficult for...

  • SAO PAULO, Sept 5- Brazil's largest fixed line carrier Oi SA on Monday unveiled a debt restructuring proposal, offering to sell assets and proposing a debt-for-equity swap option that could mean a 70 percent haircut for bondholders. At the same time, the company said it is willing to repay secured creditors such as the Brazil's BNDES development bank in full over...