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Corporate Finance Corporate Assets

  • RIYADH, June 27- Net foreign assets at Saudi Arabia's central bank, a measure of its ability to support its currency, look set to fall sharply this year as oil prices slump and Riyadh expands its sovereign wealth fund to invest abroad. This year, an austerity drive and a partial rebound in oil prices have helped Riyadh make progress in cutting the deficit-- which...

  • NEW YORK, June 26- The trustee recouping money for Bernard Madoff's victims has reached more than $23 million of settlements with the estates of the swindler's late sons and related defendants, ending more than eight years of litigation. According to a Monday court filing, the settlement will strip the estates of Andrew and Mark Madoff of "all assets, cash, and...

  • June 26- The trustee recouping money for Bernard Madoff's victims has reached more than $23 million of settlements with the estates of the swindler's late sons and related defendants, ending more than eight years of litigation. According to a Monday court filing, the settlement will strip the estates of Andrew and Mark Madoff of "all assets, cash, and other...

  • DETROIT— Takata Corp. filed for bankruptcy protection in Japan and the U.S., leaving consumers to wonder about the status of the recall of about 70 million defective air bag inflators in the U.S. and another 30 million worldwide. Takata says in Japan the figure is closer to 70 percent. Takata's assets are expected to be sold for $1.6 billion to a rival company, Key...

  • MILAN, June 26- Italian banking shares rallied on Monday after a deal to wind down two ailing regional lenders allowed Rome to draw a line under its biggest banking headache, with taxpayers rather than the financial industry shouldering the bulk of the losses. Rome on Sunday approved an emergency decree that leaves the best assets of Banca Popolare di Vicenza...

  • Japanese air bag maker Takata Corp. filed for bankruptcy protection in Tokyo and the U.S. on Monday, saying it was the only way to ensure it could carry on supplying replacements for faulty air bag inflators linked to the deaths of at least 16 people. Most of Takata's assets will be bought by rival Key Safety Systems, a Chinese-owned company based in suburban...

  • June 26- Key Safety Systems said on Sunday that it had reached a deal with Takata to purchase nearly all of its assets for about 175 billion yen, after the air-bag maker filed for bankruptcy in the United States and Japan. Takata, the firm at the centre of the auto industry's biggest ever product recall, said proceeds from the sale would be used to settle a plea...

  • June 26- Key Safety Systems said on Sunday that it had reached a deal with Air-bag maker Takata to purchase nearly all of Takata's global assets and operations for an aggregate purchase price of about 175 billion yen after the company filed for bankruptcy in the United States and Japan.

  • DETROIT— Japanese air bag maker Takata Corp. filed for bankruptcy protection in Japan and the U.S., acknowledging that the financial problems caused by millions of faulty air bag inflators that can kill or injure people were too much to overcome. Takata's assets are expected to be sold for $1.6 billion to a rival company, Key Safety Systems, and part of Takata will...

  • Japanese air bag maker Takata Corp. has filed for bankruptcy protection in Tokyo and the U.S., overwhelmed by lawsuits and recall costs related to its production of defective air bag inflators linked to the deaths of at least 16 people. The company announced the move Monday morning Tokyo time. Takata confirmed that most of its assets will be bought by rival Key...

  • CALGARY, Alberta, June 23- Ratings agency DBRS on Friday downgraded Cenovus Energy Inc, saying the Canadian oil company's acquisition of ConocoPhillips assets in March negatively affects its credit and more than outweighs the benefits of the deal. Cenovus spokesman Brett Harris said in a statement the lower rating is still of "investment grade," on par with...

  • CALGARY, Alberta, June 21- Cenovus Energy Inc's efforts to sell C $5 billion of energy assets, already facing a rocky road because weak oil prices are depressing the appetite for deals, has become complicated by the surprise departure of its chief executive officer, fund managers said. Brian Ferguson's announcement on Tuesday that he will step down as CEO in...

  • CALGARY, Alberta, June 21- Cenovus Energy Inc's efforts to sell C $5 billion of energy assets, already facing a rocky road because weak oil prices are depressing the appetite for deals, has become complicated by the surprise departure of its chief executive officer, fund managers said. Brian Ferguson's announcement on Tuesday that he will step down as CEO in...

  • CALGARY, Alberta, June 20- Cenovus Energy Inc said on Tuesday it would replace Chief Executive Brian Ferguson, who championed an unpopular purchase of western Canadian oil sands assets, and its shares tumbled nearly 9 percent. "There's no natural heir, they have not done a very good job of succession planning," said Laura Lau, senior portfolio manager at Brompton...

  • CALGARY, Alberta, June 20- Cenovus Energy Inc said on Tuesday it would replace Chief Executive Brian Ferguson, who championed an unpopular purchase of western Canadian oil sands assets, and its shares tumbled nearly 9 percent. "There's no natural heir, they have not done a very good job of succession planning," said Laura Lau, senior portfolio manager at Brompton...

  • CALGARY, Alberta, June 20- Cenovus Energy Inc said on Tuesday it will replace Chief Executive Brian Ferguson, who championed an unpopular purchase of western Canadian oil sands assets that doubled the size of the company but sent its stock plunging. Canada's third-largest oil producer failed to name a successor to Ferguson, however, pushing its stock down...

  • CALGARY, Alberta, June 20- Cenovus Energy Inc said on Tuesday it will replace Chief Executive Brian Ferguson, who championed an unpopular purchase of western Canadian oil sands assets, though it failed to name a successor, sending its shares tumbling 10 percent. "The whole thing just smells bad, said Norman Levine, managing director, Portfolio Management...

  • LONDON, June 9- Global bond funds attracted their biggest inflows in more than two years, Bank of America Merrill Lynch said on Friday, as a the UK election and a Gulf political crisis sparked a dash for safe-haven assets. Investors shovelled $16 billion into bonds in the week to Wednesday, with investment grade bond funds attracting $9.6 billion and high yield...

  • Centrais Elétricas Brasileiras SA, known as Eletrobras, and Cia Energética de Minas Gerais SA, known as Cemig, plan to divest generation and transmission assets, including their stakes in some of Brazil's largest hydroelectric dams- Santo Antônio and Belo Monte. Since the start of 2015, Chinese companies have been the buyers in most announced electricity...

  • *China' very successful' in containing outflows- analyst. BEIJING, June 7- China's foreign exchange reserves rose in May for a fourth consecutive month and by more than markets had expected, as stringent capital control measures and a weakening in the dollar helped staunch outflows. A weaker U.S. dollar boosted the value of other currencies and assets held by China...