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  • NEW YORK July 23- Bondholders of Puerto Rico's debt-laden public utility PREPA offered to refinance their $8 billion in debt by splitting it into two classes of bonds, a move they say would save PREPA $2.5 billion in financing costs through 2025, according to an outline of the proposal made public by the bondholders on Thursday. Plagued by outdated equipment...

  • Judge: Caesars can be sued while unit in bankruptcy Wednesday, 22 Jul 2015 | 4:53 PM ET

    LAS VEGAS— A Chicago bankruptcy judge has ruled he won't stop pending lawsuits against Caesars Entertainment Corp. while its debt-heavy subsidiary is in bankruptcy. Judge Benjamin Goldgar decided Wednesday that the casino giant won't be immune to litigation, unlike its Caesars Entertainment Operation Co. unit which filed for bankruptcy in mid-January...

  • Qualcomm to cut 15 percent of workforce Wednesday, 22 Jul 2015 | 4:50 PM ET

    Qualcomm says it will cut jobs, update its board and review its business structure as part of an effort to improve its performance. Qualcomm said Wednesday that it plans to slash its spending by $1.4 billion. Qualcomm Inc. also said Wednesday that its net income fell 47 percent to $1.18 billion, or 73 cents per share, for its most recent quarter.

  • UPDATE 1-Qualcomm says may split itself, cut jobs Wednesday, 22 Jul 2015 | 4:44 PM ET

    Qualcomm's shares fell about 1 percent at $63.50 in after-market trading on Wednesday. The chipmaker, which has about 30,000 employees worldwide, also said it had agreed with Jana Partners to add two of the hedge fund's nominees to Qualcomm's board. Qualcomm, which makes software and chips used in smartphones, tablets and gaming devices, is known for its...

  • UPDATE 1-Caesars faces bankruptcy after losing key ruling Wednesday, 22 Jul 2015 | 3:41 PM ET

    CHICAGO/ WILMINGTON, Del., July 22- Caesars Entertainment Corp may be closer to joining its operating unit in bankruptcy after a federal judge refused to protect the casino company from creditor lawsuits seeking up to $11 billion, sending its stock plummeting. Caesars and its private equity backers Apollo Global Management LLC and TPG Capital, said staying...

  • July 22- A judge in the Bahamas has declined to recognize the U.S. bankruptcy filing by Baha Mar Ltd, the developer of a $3.5 billion mega resort, a source familiar with the ruling said on Wednesday. Recognition of the Chapter 11 U.S. bankruptcy filing would have prevented creditors from taking action against Baha Mar Ltd in the Bahamas. Baha Mar Ltd is trying to...

  • KINGSTON, Jamaica— A judge in the Bahamas ruled Wednesday that a U.S. bankruptcy filing by the developer of an unfinished $2.5 billion megaresort in Nassau will not be recognized in the Caribbean archipelago. The islands' attorney general strongly objected to the Chapter 11 filing in U.S. Bankruptcy Court in Delaware, arguing that having a U.S. court decide major...

  • Judge: Casino workers' union didn't violate bankruptcy law Wednesday, 22 Jul 2015 | 11:20 AM ET

    Trump Entertainment Resorts, Taj's corporate parent, wanted compensation for purportedly lost business. Trump Entertainment CEO Robert Griffin declined comment on the ruling. Trump Entertainment Resorts owns the property now, but lender Carl Icahn is taking ownership as it comes out of bankruptcy.

  • ISTANBUL, July 22- HSBC is set to agree to sell its Turkish business to Dutch lender ING Group for around $700 million- $750 million in the next few days, two people familiar with the matter told Reuters on Wednesday. Acquiring HSBC's business would allow ING to roughly double its around $15 billion of assets in Turkey, putting it on better footing in a highly...

  • NEW YORK, July 21- Harbinger Capital Partners, the hedge fund firm run by Philip Falcone, filed a new lawsuit accusing satellite TV company Dish Network Corp and its chairman, Charles Ergen, of illegally trying to strip it of control of wireless company LightSquared during its bankruptcy. The reorganization called for Harbinger to retain a 44.5 percent equity...

  • WASHINGTON, July 21- Greece's talks with its international creditors have shifted toward how its debt will be restructured and how much debt relief will be needed, a senior U.S. Treasury official said on Tuesday. "Two weeks ago, the discussion over whether or not debt restructuring would even be on the table was different than it is today.

  • LAS VEGAS— The bankruptcy of Caesars Entertainment Corp.' s debt-heavy subsidiary has racked up nearly $47 million in professional fees and expenses in about 4 1/ 2 months. In filing for bankruptcy in mid-January, Caesars Entertainment Operating Co. has been trying to shed about $10 billion of its $18.4 billion in debt. The company is due in Chicago bankruptcy...

  • BRATTLEBORO, Vt.— State officials have decided to change plans for the disbursement of $10 million in economic development funds that will be used to help cushion the economic blow from the closing of the Vermont Yankee nuclear power plant. Patricia Moulton, secretary of the Agency of Commerce and Community Development, told The Rutland Herald the changes were...

  • July 21- Printer maker Lexmark International Inc said it would cut jobs to offset costs resulting from recent acquisitions as part of efforts to focus on software and services. Lexmark and larger rivals such as Hewlett-Packard Co and Xerox Corp are pushing into high-value software and services business as companies reduce printing to cut costs and...

  • BlackBerry cuts jobs as part of turnaround plan Tuesday, 21 Jul 2015 | 12:34 PM ET

    TORONTO— BlackBerry Ltd. announced another round of job cuts Tuesday as it deals with weak smartphone sales and pushes ahead with a restructuring plan. The Waterloo, Ontario- based company declined to disclose how many employees were affected in the latest changes, but said that some workers were shifted to different roles while others were laid off.

  • July 21- Printer maker Lexmark International Inc forecast third-quarter profit well below Wall Street's estimates and said it would cut about 500 jobs as it absorbs recently acquired businesses. Lexmark said the restructuring is expected to generate $2 million savings in 2015 and annualized savings of $65 million beginning in 2017..

  • July 20- Caesars Entertainment Corp reached an agreement with its lenders late on Monday night, hours after a New York state court judge threw out a lawsuit by the casino company against a group of creditors known as the second-lien noteholders. Caesars Entertainment will contribute an additional $200 million of Caesars Entertainment convertible notes to...

  • Qualcomm may consider breakup - WSJ Monday, 20 Jul 2015 | 8:09 PM ET

    July 20- Qualcomm Inc is expected to conduct a strategic review that may result in the breakup of the company, among other options, the Wall Street Journal reported on Monday citing sources. The news comes after reports earlier on Monday that Qualcomm is preparing to lay off several thousand employees. Qualcomm could not be immediately reached for comment...

  • Qualcomm, which reported a 46 percent drop in second-quarter profit in April, is facing increasing competition from Taiwan's MediaTek Inc and a handful of small Chinese companies that specialize in making chips for low-priced phones. Qualcomm could shift more research and development activities to low-cost countries such as India for further cost...

  • WILMINGTON, Del., July 20- The Chinese company building the $3.5 billion Baha Mar resort in the Bahamas plans to file a motion to dismiss the bankruptcy case related to the project, which is nearly complete and seen as vital to the former British colony's fragile economy. A completed resort would employ more than 5,000 people in the Bahamas, where the unemployment...