LONDON, Aug 20- British construction company Balfour Beatty rejected a third merger proposal from Carillion on Wednesday, saying a turnaround strategy centred on the sale of its U.S. engineering business was a better prospect for investors.» Read More
Aug 19- Citigroup Inc is considering the sale of its retail-banking business in Japan, the Wall Street Journal said on Wednesday, citing people familiar with the matter. Citigroup is considering a possible auction for the sale, the Journal reported.
SYDNEY, Aug 19- BHP Billiton is in talks with potential buyers for all, or part, of its Nickel West division in Australia after excluding the business from a major restructuring.
NEW YORK, Aug 18- A judge said he will rule on Tuesday whether junior bondholders of Momentive Performance Materials, a quartz and silicone maker owned by Apollo Global Management, are being fairly pushed behind other creditors, a decision that could make or break Momentive's plan to cut $3 billion in debt and exit bankruptcy.
Aug 18- Atlantic City's Revel Casino Hotel is still seeking bidders in bankruptcy court, but its ability to find a buyer will improve once it closes and stops "bleeding money," its attorney said at a hearing on Monday. The hotel is scheduled to close after guests leave on Sept. 1, with gambling operations to cease at 5 p.m. the next day.
CAMDEN, N.J.— The troubled Revel Casino Hotel in Atlantic City still hopes to auction off its property but needs to close to stop big losses, a lawyer for it said. Attorney John Cunningham said in bankruptcy court Monday that the casino is losing more than $1 million every week, The Press of Atlantic City reported.
NEW YORK, Aug 18- Momentive Performance Materials, the quartz and silicone maker owned by Apollo Global Management, will embark Monday on a week of hotly contested hearings seeking court approval of a plan to cut $3 billion in debt and exit bankruptcy.
When Australia- based BHP joined forces with the London- listed, but largely South African, Billiton, a diversified natural resources giant was created.
Aug 15- International Business Machine Corp said on Friday that the Committee on Foreign Investment in the United States has approved the sale of its low-end server business to Lenovo Group Ltd. In January, China's Lenovo Group has agreed to buy IBM's X86-based server business for $2.3 billion in what would be China's biggest technology deal.
Aug 15- The first new crude-by-rail project at a California refinery is likely to win approval next month after more than a year of scrutiny, the head of the Kern County planning division told Reuters, and it could help reopen the shuttered plant.
NEW YORK, Aug 15- Bonds of Puerto Rico's PREPA power authority hit their highest price in nearly two months on Friday, a day after the troubled utility reached a deal with creditors to extend credit lines and develop a plan to restructure its business. Amodeo does not hold PREPA bonds but does own Puerto Rico general obligation and tax revenue bonds.
MOLINE, Ill.— Agricultural equipment maker Deere is announcing it will indefinitely lay off more than 600 employees at four of its factories in the Midwest as demand slumps. The affected sites are in the cities of East Moline and Moline in Illinois, as well as Ankeny, Iowa, and Coffeyville, Kansas.
Aug 15- Deere& Co, the world's largest maker of farm equipment, said it would indefinitely lay off more than 600 employees at plants in Illinois, Iowa and Kansas as falling grain prices hurt demand for tractors, harvesters and other agricultural machinery.
NEW YORK— Unsecured general creditors of Lehman Brothers will get $4.6 billion in their first round of payouts from the bankrupt investment bank next month.
Aug 14- Puerto Rico's electric power authority PREPA struck a deal with bondholders on Thursday to develop a restructuring plan to revive the debt-stricken utility as it got an extension of vital lines of credit it uses to buy oil. :Puerto Rico's highway, water and electricity authorities hold about $20 billion in bonds.
BUENOS AIRES, Argentina— The government of Argentina will seek criminal charges against representatives of a U.S.-based global printing company that abruptly shuttered its plant in the South American country, the president said Thursday.
The Swedish group sells under the names Frigidaire AEG and Zanussi, and is a smaller rival to Whirlpool.
International banks had appeared to be nearing agreement to buy Argentina paper from holdout creditors who have refused to accept a debt restructuring deal with the sovereign.
Aug 14- Network equipment maker Cisco Systems Inc said on Thursday its plan to slash 6,000 jobs will result in restructuring charges of $700 million in cash in the year ending July 2015. Shares in Cisco, still the world's largest networking equipment maker, were down 2.7 percent at $24.52 on the Nasdaq.
LONDON/ FARGO, North Dakota, Aug 14- Royal Dutch Shell on Thursday announced the sale of two onshore U.S. shale gas assets in exchange for $2.1 billion and acreage in different gas-rich areas as the energy company restructures its North America business and reins in costs.
NEW YORK, Aug 14- General Electric Co is in talks with Sweden's Electrolux AB and other parties to sell its household appliances unit, people familiar with the matter said on Thursday. Bloomberg News earlier reported that GE's appliances unit had drawn interest from Electrolux and consumer development startup Quirky.