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Leadership Business Events

  • PARIS/ LONDON, Feb 18- The chief executive of Peugeot manufacturer PSA Group will meet British Prime Minister Theresa May to discuss his firm's planned acquisition of General Motors' Opel and Vauxhall operations, a government spokesman said on Saturday. Both Britain and Germany fear PSA will cut jobs if the takeover goes ahead, and British politicians are...

  • PARIS/ LONDON, Feb 18- The chief executive of Peugeot manufacturer PSA Group will meet British Prime Minister Theresa May to discuss his firm's planned acquisition of General Motors' Opel and Vauxhall operations, a government spokesman said on Saturday. Both Britain and Germany fear PSA will cut jobs if the takeover goes ahead, and British politicians are...

  • WILMINGTON, Del., Feb 17- Energy Future Holdings Corp, which owns the largest power network in Texas, received court approval on Friday to confirm its plan to exit bankruptcy and be acquired by NextEra Energy Inc in a deal valued at around $18 billion. Approval from the Public Utility Commission of Texas is required for the purchase of Energy Future's power...

  • TOKYO, Feb 17- S&P Global Inc said in a report on Friday it could cut its rating of Toshiba Corp credit by several notches should the Japanese firm receive financial support that includes debt restructuring, sending Toshiba stock down 9 percent. "If any financial support includes debt-to-equity swaps or changes in loan conditions, we would consider that as...

  • TOKYO, Feb 17- S&P Global Inc said in a report on Friday it could cut its rating of Toshiba Corp credit by several notches should the Japanese firm receive financial support that includes debt restructuring, sending Toshiba stock down 9 percent. "If any financial support includes debt-to-equity swaps or changes in loan conditions, we would consider that as...

  • *S&P says any form of debt restructuring is selective default. TOKYO, Feb 17- Shares in Japan's Toshiba sank 10 percent on Friday, after credit rating firm S&P Global said it could slash the conglomerate's rating several notches if financial support from lenders includes any form of debt restructuring. Sumitomo Mitsui Banking Corp on Thursday said it will...

  • "These actions will produce about $20 million of annual savings relative to our 2016 exit operating expense run rate," Chief Executive Noah Breslow said in a statement on Thursday. The company's net loss attributable to shareholders widened to $35.9 million, or 50 cents per share, for the fourth quarter ended Dec. 31, compared with $4.6 million, or 7 cents per share, a...

  • Feb 16- Duke Energy Corp, the biggest U.S. power company by generation capacity, posted a quarterly loss, stemming from the sale of its international business last year. Net loss attributable to the Duke Energy was $227 million, or 33 cents per share, in the fourth quarter ended Dec. 31, compared with a profit of $477 million, or 69 cents per share, a year earlier.

  • Feb 16- Marketplace lender On Deck Capital Inc reported a wider loss for the fifth straight quarter and said it would reduce headcount by 11 percent. The company's net loss attributable to shareholders was $35.86 million, or 50 cents a share, for the fourth quarter ended Dec. 31, compared with $4.64 million, or 7 cents a share, a year earlier. Interest income rose about...

  • The company's net loss attributable to shareholders widened to $275.1 million, or $1.99 per share, in the fourth quarter ended Jan. 1, from $40.5 million, or 29 cents per share, a year earlier. SunPower said it recorded a $175.8 million charge related to restructuring expenses in the latest quarter, compared with $31.2 million a year earlier. The company, majority...

  • Feb 15- Verizon Communications Inc has tentatively reached a revised deal that would lower by about $250 million the price to acquire Yahoo Inc's core internet business, Bloomberg reported on Wednesday. Verizon's deal to buy Yahoo's assets, including its digital advertising, email and media assets, was worth $4.83 billion when it was first announced.

  • LONDON, Feb 15- Britain has contacted the president of General Motors to express concerns after the American firm opened talks to sell its European operations, including the Vauxhall plants in England, to France's PSA Group. The talks have raised fears from unions in Britain and Europe that a deal could lead to job cuts or plant closures within GM's loss-making...

  • READING, Pa.— Albert Boscov was the ebullient public face of a department store chain he built from a single corner store in downtown Reading to a regional powerhouse with dozens of locations in seven states and more than $1 billion in annual sales. The retailer's footprint is expanding— albeit slowly— at a time when major national competitors like Macy's are...

  • NEW YORK— Ringling Bros. and Barnum& Bailey Circus may be shuttering, but Big Apple Circus has managed to cartwheel itself out of bankruptcy. A judge on Tuesday approved a deal that would save the circus by selling its tents, equipment and intellectual property to Big Top Works, an affiliate of the Florida- based investment firm Compass Partners LLC.

  • *Opel business has struggled for profitability. For PSA, owner of the Peugeot, Citroen and DS brands, acquiring GM's Opel and Vauxhall brands would give it a 16.3 percent share of the European passenger car market, vaulting it into second place in the region, ahead of French rival Renault SA and behind Germany's Volkswagen AG. Germany's industrial union IG Metall...

  • *Q4 loss 2.35 bln Sfr vs 2.01 bln Reuters poll estimate. ZURICH, Feb 14- Credit Suisse will cut up to 6,500 more jobs in 2017, as Chief Executive Tidjane Thiam pushes ahead with a major restructuring which he said on Tuesday might now no longer include floating the bank's Swiss business. The additional job cuts come after Switzerland's second-biggest bank...

  • NEW YORK, Feb 14- Technology whizzes who helped Goldman Sachs eliminate hundreds of trading jobs over the past few years are venturing into the bank's flagship M&A business, making some junior bankers uneasy. A team of 75 programmers, internally referred to as "strats," has been developing technology to make Goldman's elite dealmakers more productive.

  • BEIJING— A Chinese aluminum company targeted by protests over pollution fears in a northern Chinese city says its production facilities conform to the highest international environmental standards, but that it hasn't decided whether to proceed with a massive investment in a new plant. Video footage circulating on social media purportedly from the...

  • DUBAI, Feb 14- Dubai- based building company Drake& Scull announced a turnaround and capital restructuring plan on Tuesday as it reported another quarterly loss, the latest sign of how a slowdown in the Gulf's construction industry is hurting contractors. As part of its capital restructuring plan, DSI said it was considering proposing a rights issue of 500...

  • Goldman Sachs

    Technology whizzes who helped Goldman Sachs eliminate hundreds of trading jobs over the past few years are venturing into the bank's flagship M&A business, making some junior bankers uneasy.