×

Leadership Business Events

  • April 24- RLJ Lodging Trust said on Monday it agreed to buy FelCor Lodging Trust Inc in a deal that would make it the third-biggest U.S. lodging real estate investment trust. The combination, which will have a pro-forma market value of $4.2 billion, will own 160 hotels in 26 states and the District of Columbia, across brands including Marriott, Hilton, Hyatt and...

  • Tensions are rising around Grasberg, the world's second-biggest copper mine, after operator Freeport laid off thousands of workers there to stem losses from an ongoing dispute with the Indonesian government over mining rights. While Freeport is expecting to soon seal agreements with Jakarta to allow it to temporarily resume copper concentrate exports...

  • April 21- A group of iHeartMedia Inc lenders has signed a cooperation agreement to oppose the debt overhaul of the largest owner of U.S. radio stations, presenting a threat to the company's bid to avoid bankruptcy, people familiar with the matter said. The move shows how iHeartMedia, which says it has more than a quarter of a billion monthly radio listeners in the...

  • *Shares hit 14- month low of $3.02 in morning trading. Shares of the company, known for its form-fitting dresses and other apparel, hit a 14- month low of $3.02 in morning trading but were later up about 7 percent. Bebe could consider filing for bankruptcy to settle favorably with landlords of their stores, Joel Levitin, a partner in law firm Cahill Gordon& Reindel's...

  • NEW YORK, April 21- A war of words rather than talk of reconciliation is the latest indication that Puerto Rico and its creditors are getting nowhere fast in their negotiations to restructuring the island's $70 billion in debt before mediation is due to end on Friday. A group of general obligation debtholders accused the government on Wednesday of breaking...

  • Tensions are rising around Grasberg, the world's second-biggest copper mine, after operator Freeport laid off thousands of workers there to stem losses from an ongoing dispute with the Indonesian government over mining rights. While Freeport is expecting to soon seal agreements with Jakarta to allow it to temporarily resume copper concentrate exports...

  • TORONTO/ CALGARY, April 20- BP Plc is considering the sale of its stakes in three Canadian oil sands projects, people familiar with the matter told Reuters this week, as part of the British oil company's strategy of retreating from noncore businesses. BP's 50 percent stake in the Sunrise project near Fort McMurray in Alberta, where Husky Energy Inc owns the rest and...

  • TORONTO/ CALGARY, April 20- BP Plc is considering the sale of its stakes in three Canadian oil sands projects, people familiar with the matter told Reuters this week, as part of the British oil company's strategy of retreating from noncore businesses. BP's 50 percent stake in the Sunrise project near Fort McMurray in Alberta, where Husky Energy Inc owns the rest and...

  • April 20- Central Grocers Inc, a supplier to independent grocery stores in the Midwestern United States, is considering a bankruptcy filing as one possible option as it struggles with its debt, according to people familiar with the matter. Central Grocers is working with law firm Weil Gotshal& Manges LLP, investment bank Peter J. Solomon Co, and consultants from...

  • April 20- Motorcycle maker Harley-Davidson Inc said on Thursday it will lay off 118 workers at its York, Pennsylvania, plant and shift employment to Kansas City, Missouri. The company said it told employees in November 2015 of plans to shift production of Harley-Davidson Cruisers from the Pennsylvania plant to Kansas City starting in the 2018 model year.

  • OMAHA, Neb.— CSX Corp. expects to deliver a 25 percent increase in profits this year as the railroad works to streamline operations under new CEO Hunter Harrison. The Jacksonville, Florida- based railroad said Thursday that its earnings per share will jump about 25 percent over last year's $1.81, but that excludes restructuring costs. CSX also said it will...

  • Blackstone, whose co-founder and chief executive Stephen Schwarzman is an economic adviser to Trump and chairs his strategic and policy forum, said the sale of assets for top dollar allowed it to pay its second highest quarterly dividend ever, equivalent to 87 cents per common unit. "In total, we will have distributed nearly $14 per common unit of value since the...

  • VALENCIA, Venezuela— General Motors announced Thursday that it was shuttering its operations in Venezuela after authorities seized its factory in the country, a move that could draw the Trump administration into the escalating chaos engulfing the South American nation amid days of deadly protests. The seizure arose from an almost 20- year-old lawsuit...

  • OMAHA, Neb.— CSX Corp.' s first-quarter profit rose about 2 percent as the railroad hauled more, but its results were hurt by restructuring expenses. The Jacksonville, Florida- based railroad said Wednesday that it earned $362 million, or 39 cents per share. That's up from $356 million, or 37 cents per share, a year ago.

  • However, last week, Abbott agreed to the takeover at a price of around $5.30 billion down from $5.80 billion, ending the prolonged legal tussle. Alere has had some challenges and closing the deal is going to be a bit unpredictable, because Alere still needs to file its annual report and Abbott is required to divest some businesses for regulatory approvals, Abbott...

  • NEW YORK— When small or independent retailers post "Going Out of Business" signs, many ask themselves, now what? Reilly Starr and her business partner had opened Naked Sports Gear, a Manhattan store that sold athletic wear for women, in 2011. But she didn't see opening another store as an option: "Brick and mortar is the worst thing you can do in New York.

  • *Qatar underperforms; all blue chips have paid 2016 dividend. DUBAI, April 19- Construction-related shares underperformed Riyadh's stock market on Wednesday because of poor first-quarter earnings, though troubled Dubai builder Arabtec jumped after shareholders approved a capital restructuring plan. Riyadh- listed Arabian Cement slid by 5 percent after...

  • April 18- Chevron Corp, the second-largest U.S.-based oil company, sold its Canadian gasoline stations and refinery in British Columbia to Parkland Fuel Corp, a marketer of petroleum products, for C $1.46 billion. The assets include 129 gasoline stations, three terminals and the Burnaby oil refinery, located east of Vancouver. Chevron is also exploring the sale...

  • HOUSTON, April 18- Centurion Midstream Group LLC said it acquired a petroleum marketing and transportation business that operates in West Texas from Agave Energy Holdings, a subsidiary of Lucid Energy Group. Price of the purchase was not disclosed. Ken Douglas, Centurion's chief financial officer, said the deal will expand the Dallas- based company's Permian...

  • EVERETT, Wash.— Boeing will issue hundreds of layoff notices to engineers in Washington state this week. The Daily Herald reported Monday that a memo from the company's vice president of engineering for Boeing Commercial Airplanes John Hamilton says the cuts are necessary to stay competitive. Information from: The Daily Herald, http://www.heraldnet.com.