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  • 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...

  • 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...

  • BRUSSELS, May 25- A deal agreed by euro zone finance ministers offers Greece some help to ease its debt payments with the prospect of longer-term restructuring of its debt mountain, stretching official loans out for decades, provided it sticks to the conditions. -Greece's gross financing needs should remain below 15 percent of Gross Domestic Product for the...

  • *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...

  • WASHINGTON, May 23- The International Monetary Fund said on Monday that Greece's current budget surplus and growth targets for its bailout program are unrealistically high and should be revised downward, and Greece's debt needs to be restructured. The new analysis was released a day before European finance ministers meet on Tuesday to review Greece's...

  • *Shanghai trading volumes hovering around 3- month lows. SHANGHAI, May 20- China stocks edged up on Friday morning, but the main indexes are poised for a fifth week of losses on fading optimism over the country's growth prospects and concerns about rising U.S. interest rates. Beijing is pushing for painful structural reforms by stepping up restructuring and...

  • SAN JUAN, Puerto Rico— After months of pleading from Puerto Rico's government, the U.S. Congress has agreed to help the territory restructure its massive public debt. But they stoked some anger Thursday in Puerto Rico, where people have endured a decade of a steadily worsening economy and many resent the uneven relationship with the U.S. mainland.

  • 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...

  • SAN JUAN, Puerto Rico— Puerto Rico's governor on Wednesday again used a state of emergency decree to protect one of the island's struggling public agencies from lawsuits and preserve dwindling liquidity as the U.S. Congress works on a bill to restructure the island's $70 billion public debt. The order allows Puerto Rico's Highways and Transportation...

  • *China says to maintain steel export tax rebates. *U.S. a small export market for China steel. SHANGHAI/ WASHINGTON, May 18- China said it would persist with controversial tax rebates to steel exporters to support the sector's painful restructuring programme, defying a United States move to impose punitive import duties on Chinese steel products.

  • May 17- Directories publishers Dex Media Inc and SuperMedia Inc filed for voluntary Chapter 11 bankruptcy protection in a Delaware court on Monday. SuperMedia, earlier known as Idearc Inc, and Dex Media, formerly R.H. Donnelley Corp, exited their first bankruptcy proceedings in 2010.. The cases are in U.S. Bankruptcy Court, District of Delaware; Case No: 16-11210...

  • MONTERREY, Mexico, May 16- Altos Hornos de Mexico, one of Mexico's largest steelmakers, said on Monday a judge approved its $1.7 billion debt restructuring plan, bringing to an end a 17- year suspension of payments. AHMSA, which was barred from the local bourse in 1999 after it stopped paying its creditors, said a majority of debt-holders agreed to swap debt for...

  • HSBC cutting 850 jobs in Britain

    Europe's largest bank aims to cut a total of 8-thousand jobs in Britain by the end of 2017 as part of its restructuring efforts.

  • *Jobs transferred from UK to cut costs. LONDON, May 16- HSBC, Europe's largest bank, started laying off 840 information technology workers in Britain on Monday, the first big tranche of redundancies under a restructuring plan that will eliminate 8,000 British jobs by the end of next year. "As part of a global relocation exercise, around 840 non-customer-facing IT...

  • LONDON, May 16- HSBC, Europe's largest bank, were to begin laying off 850 information technology workers in Britain on Monday, the first big tranche of redundancies under a restructuring plan that will eliminate 8,000 British jobs by the end of next year. The employees are based in London, Sheffield, Leeds and Birmingham and all the jobs will disappear by the end of...

  • May 16- Breitburn Energy Partners LP and some of its units filed for restructuring under Chapter 11 of the U.S. bankruptcy code on Monday, the latest company to face the brunt of low commodity prices. The oil and gas master limited partnership said it secured a $75 million debtor-in-possession financing, in addition to cash from its operations and cash on hand, to...

  • NEW YORK, May 13- iHeartMedia Inc has brought in Millstein& Co, an additional restructuring advisory firm, to help it evaluate options for its debt, including buying some of it back, according to people familiar with the matter. Millstein& Co was founded in 2012 by Jim Millstein, who was the chief restructuring officer at the U.S. Department of the Treasury from 2009 to...

  • May 12- Bankrupt solar company SunEdison Inc terminated the employment of Chief Financial Officer Brian Wuebbels and said it would delay filing its 10- Q report for the quarter ended March 31. The company said it has given Wuebbels a 30- day notice period, during which he will be an adviser to the company's Chief Restructuring Officer, John Dubel.