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  • TOKYO, May 26- U.S. investment fund Kohlberg Kravis Roberts has proposed taking about a 60 percent stake in Takata Corp, Japan's Nikkei reported on Thursday, possibly offering a lifeline to the embattled Japanese air bag maker. KKR has submitted a restructuring plan, the newspaper said a day after Takata's external steering company said it had hired investment...

  • May 25- Takata Corp hired investment bank Lazard Ltd to lead efforts to help resolve financial issues stemming from its record-setting recall of tens of millions of faulty airbags, sources said Wednesday. Takata's board of directors in February named an outside steering committee to develop a comprehensive restructuring plan to address the financial and...

  • May 25- Air bag manufacturer Takata Corp hired investment bank Lazard to lead efforts to seek new investment and help resolve financial issues stemming from its record-setting recall of tens of millions of inflators that can rupture, sources said Wednesday. Takata in February named an outside committee to develop a comprehensive restructuring plan to...

  • PARIS, May 25- French utility Engie said on Wednesday it is considering the closure or sale of its giant Hazelwood coal-fired power plant in Australia as part of its move away from operating any coal-fired plants. Chief Executive Isabelle Kocher told a French Senate committee on Wednesday that the utility planned a gradual withdrawal from coal-fired power...

  • WASHINGTON, May 25- U.S. lawmakers on Wednesday debated a bill aimed at restructuring Puerto Rico's crushing debt load, while setting guidelines to suspend addressing creditor lawsuits as the U.S. commonwealth seeks to reform its economy. Lawmakers are pushing to send President Barack Obama a bill before Puerto Rico's July 1 deadline for making about $1.9...

  • DUBAI, May 25- A $16.5 billion metro railway project planned for Saudi Arabia's holy city of Mecca has been delayed so that its financing can be restructured, an official said on Wednesday, but he later retracted the statement. New budgeting constraints have caused changes to the Mecca plan such as modifications to the design of the metro stations, Abdelfattah...

  • *Mass transit scheme was to cost $16.5 billion. DUBAI, May 25- A $16.5 billion mass transit project planned for Saudi Arabia's holy city of Mecca has been delayed so that its financing can be restructured, the head of the implementing body said on Wednesday. The Mecca plan includes building a metro rail system with 182 kilometers of track and 88 stations, according...

  • HOUSTON, May 24- Marathon Petroleum Corp on Tuesday laid off 46 salaried employees at the company's Galveston Bay Refinery in Texas City, Texas, the company said. "This reduction is one element of a cost savings strategy that will better position the refinery to be competitive well into the future," Marathon spokesman Chuck Rice said in a statement.

  • HOUSTON, May 24- Marathon Petroleum Corp on Tuesday laid off 46 salaried employees at the company's Galveston Bay Refinery in Texas City, Texas, according to an internal memo seen by Reuters.

  • BEIJING, May 24- China's Premier Li Keqiang said that reducing excess capacity in industry remains the key task in carrying out supply-side reform. China will ensure that workers whose jobs will be affected by restructuring in those sectors will not be left unemployed, he added. China has vowed to tackle price-sapping supply gluts in major industrial sectors,...

  • Just when you thought the dearth of M&A in Europe was here to stay, Bayer sweeps in with a $62 billion bid for U.S. giant Monsanto.

  • ABU DHABI, May 22- Thousands of layoffs at state-linked companies in Abu Dhabi are a fresh sign the Gulf's wealthy oil states are hunkering down for a long period of austerity as low crude prices pressure their economies. Since mid-2015, the United Arab Emirates, Saudi Arabia, Qatar and other countries in the region have curbed spending on some construction...

  • CHICAGO, May 20- Bankrupt coal producer Peabody Energy Corp said in a court filing Friday it believes its long-term debt should be included in its current liabilities, a position that favors unsecured creditors to the tune of $1 billion. A fight over how to treat long-term debt in calculating the mining company's assets has been looming since Peabody filed for...

  • May 20- Freeport-McMoRan Inc's oil and gas business has withdrawn its initial public offering as weak oil prices dent valuations of oil producers. The miner said earlier this month that it was in talks to sell more of its assets to reduce its debt to $10 billion over the next two years. Most recently, the miner agreed to sell its majority stake in the Tenke copper...

  • May 20- A consortium that includes sovereign wealth fund China Investment Corp and U.S. buyout firm KKR& Co has ended discussions to buy a stake in Yum Brands Inc's China unit, according to people familiar with the matter. Louisville, Kentucky- based Yum Brands, owner of the Pizza Hut and KFC fast-food chains, has been looking to spin off its 7,205 China restaurants by...

  • Speaking at a media event in San Francisco on Thursday, Apple executives offered a sneak peak of a new store that features design elements that will later roll out to more locations worldwide, including new spaces for socialization and collaboration. Like the new campus, the San Francisco store features terrazzo floors, and the ceiling fixtures are also...

  • NEW YORK, May 19- A scheduled hearing on Thursday in U.S. Bankruptcy Court for the Southern District of New York on a $300 million bankruptcy loan for renewable energy company SunEdison Inc has been pushed back one day, until Friday. Some of SunEdison's creditors and its so-called yieldcos, TerraForm Global Inc and TerraForm Power Inc, had objected in court papers...

  • BUENOS AIRES, May 18- Argentina's opposition-controlled lower chamber of Congress on Thursday passed a bill to prevent layoffs in the public and private sectors, challenging the center-right government's efforts to cut a gaping fiscal deficit and spur investment in the battered economy. President Mauricio Macri, who took power in December on a...

  • May 18- Halcón Resources Corp, which produces oil in Texas and North Dakota, said on Wednesday it plans to file for a prepackaged bankruptcy that would wipe out $1.8 billion in debt and help it survive the drop in crude prices. Shares of the Houston- based company fell 55 percent to 44 cents in after-hours trading. Together with several former colleagues from...

  • CHICAGO, May 18- Caesars Entertainment Corp has offered $4 billion in a new plan to help its casino operating unit emerge from Chapter 11, a lawyer for the unit told a U.S. "In terms of recoveries to creditors, they are substantially improved down the line" under the new plan, lawyer David Seligman said in Chicago bankruptcy court on behalf of the Caesars unit on...