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Leadership Business Events

  • Feb 21- Buyout firm Sycamore Partners has won the auction for the e-commerce business and intellectual property of bankrupt U.S. women's apparel retailer The Limited with a bid of $26.8 million, people familiar with the matter said on Tuesday. Sycamore Partners outbid clothing firm Sunrise Brands LLC in the auction, the people said, asking not to be identified...

  • Feb 21- Insurance giant American International Group Inc has reached a deal to sell one of its lesser-known assets: a northern Vermont ski slope. Vail Resorts Inc, a Brookfield, Colorado- based company that runs mountain resorts, has signed a $50 million agreement to buy the ski operations of Stowe Mountain Resort from AIG's real-estate business, the resort...

  • Feb 21- Canada's ECN Capital Corp said on Tuesday it would sell its U.S. commercial and vendor finance business to PNC Financial Services Group for about $1.25 billion in cash. ECN Capital, which was spun out of Element Financial Corp last year, said the deal includes assets worth about $1.08 billion. Macquarie Capital was ECN Capital's lead financial adviser,...

  • Feb 21- Verizon Communications Inc, the No. 1 U.S. wireless carrier, said on Tuesday it agreed to buy the core internet business of Yahoo Inc for $4.48 billion, about $350 million less than the original price. The deal will combine Yahoo's search, email and messenger assets as well as advertising technology tools with Verizon's AOL unit. Yahoo will continue to be...

  • Feb 21- Verizon Communications Inc, the No. 1 U.S. wireless carrier, said on Tuesday it agreed to buy the core internet business of Yahoo Inc for $4.48 billion, reflecting a $350 million cut to the original price. The deal, which is expected to close in the second quarter, will combine Yahoo's search, email and messenger assets as well as advertising technology tools...

  • HONG KONG/ LONDON, Feb 21- Annual profit at HSBC Holdings slumped 62 percent and fell far short of analysts' estimates as Europe's largest bank took hefty writedowns from restructuring and pointed to brakes on revenue growth. HSBC shares slid more than 6 percent after the company reported revenues fell by a fifth from 2015, underscoring the challenge the bank...

  • SYDNEY, Feb 21- Australia will weigh long-term geopolitical considerations when it vets proposals by foreigners to buy critical infrastructure assets such as power grids and ports, the government said on Tuesday. Last month, the Australia announced the creation of a new critical infrastructure center to oversee sensitive assets. Australia last year...

  • SYDNEY, Feb 21- Australia will weigh long-term geopolitical considerations when it vets proposals by foreigners to buy critical infrastructure assets such as power grids and ports, the government said on Tuesday. Last month, the Australia announced the creation of a new critical infrastructure centre to oversee sensitive assets. Australia last year...

  • SYDNEY, Feb 21- Australia will weigh long-term geopolitical considerations when it vets proposals by foreigners to buy critical infrastructure assets such as power grids and ports, the government said on Tuesday. Last month, the Australia announced the creation of a new critical infrastructure centre to oversee sensitive assets. Australia last year...

  • SYDNEY, Feb 21- Australia will weigh long-term geopolitical considerations when it vets proposals by foreigners to buy critical infrastructure assets such as power grids and ports, the government said on Tuesday. Last month, the Australia announced the creation of a new critical infrastructure center to oversee sensitive assets. Australia last year...

  • *Toshiba want to complete sale by end of March 2018- source. TOKYO, Feb 21- Toshiba Corp wants to raise at least 1 trillion yen from the sale of a majority stake in its flash memory chip business as a buffer against any fresh financial problems, a source with direct knowledge of the matter said. After flagging a $6.3 billion writedown on its U.S. nuclear unit earlier this...

  • LONDON, Feb 20- The head of Britain's biggest trade union is likely to meet the CEO of PSA Group on Friday amid growing concerns over the future of Vauxhall plants if the French carmaker buys the business from General Motors, a union source told Reuters. Peugeot-maker PSA is in talks to buy GM's loss-making European business, which operates under the Vauxhall and...

  • JAKARTA, Feb 20- Freeport McMoRan Inc's chief executive said on Monday the company's Indonesian unit has made its first lay-offs since a dispute over its mining contract started with the Indonesian government and may let go of more workers this week. Richard Adkerson told a news conference in Jakarta that about 10 percent of the expatriate workforce had been...

  • 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...