NEW YORK— Cargill plans to close a Milwaukee beef-processing plant which employs about 600 people on Friday due to a shortage of cattle. A Midwest drought in 2011 and 2012 hurt cattle levels, said Cargill spokesman Mike Martin. The Milwaukee plant slaughters live cattle and packages beef products.» Read More
LONDON, July 29- Argentina will find itself in its second default of the 2000 s on Thursday unless a last-minute deal is reached with holdout creditors who have rejected a debt restructuring deal. But Argentina and the creditors did not meet face to face.
July 29- Amgen Inc on Tuesday said it would cut up to 15 percent of its global work force and close plants as part of a series of moves aimed at reallocating resources as it prepares for the eventual launch of medicines it hopes will drive future growth.
July 29- Amgen Inc on Tuesday posted higher-than-expected second-quarter profit in a rebound from a disappointing first quarter, helped by strong sales of its rheumatoid arthritis drug Enbrel, and it significantly raised its full-year earnings forecast.
Biologic drugmaker Amgen said Tuesday that it will lay off 12 to 15 percent of its worldwide workforce and close four sites, even as it reported stellar second-quarter results that trounced Wall Street expectations. Amgen also raised its forecasts for its 2014 profit and revenue, driving up its shares.
July 29- Detroit has been making progress in settling disputes with its public safety unions, a development that has put the brakes on several appeals in federal court of a ruling that the city was eligible for municipal bankruptcy, attorneys said on Tuesday.
July 29- Waste Management Inc said it would sell its waste-to-energy unit to private equity firm Energy Capital Partners for $1.94 billion in cash, to focus on its larger solid waste business.
*Honda's N.American Q1 operating profit down 6 pct. Honda said its Mexico plant, which makes the Fit subcompact, was hit by delays as it adopted new manufacturing techniques, but the company kept its full-year U.S. sales targets unchanged and said volumes would get back on track.
PRAGUE— South Korea's Hyundai Mobis has signed a deal with the Czech government to build a car lights plant in the eastern part of the Czech Republic. Prime Minister Bohuslav Sobotka said Tuesday that Hyundai Mobis will invest up to 4 billion koruna in the factory to be built near the city of Ostrava.
WASHINGTON— Racing to adjourn for the summer, the Senate scheduled major votes Tuesday on proposals to keep federal highway funds flowing across the nation— billions of dollars to avert layoffs for construction workers and shutdowns of road and bridge projects just before the November elections.
July 28- A group of Argentina's creditors holding "restructured" debt have offered to waive a clause that would help the country avoid a default, the Financial Times reported on Monday, citing unnamed sources.
MEDINA, Ohio— RPM International plans to spend nearly $800 million as part of a preliminary deal to fund a trust that resolves asbestos personal injury claims tied to a business owned by its Specialty Products Holding Corp.. The Medina, Ohio, company said Monday that the agreement still needs the approval of the claimants as well as the U.S. Bankruptcy Court.
SPRINGDALE, Ark.— Tyson Foods plans to sell its poultry businesses in Mexico and Brazil for $575 million in cash to help pay debt from its recently announced acquisition of Hillshire Brands. Tyson Foods Inc. said it expects the sale of its Mexico and Brazil operations to JBS SA will be completed by the end of the year.
NEW YORK, July 25- Argentina, out of legal options to avoid paying a court-awarded $1.33 billion plus interest to holdout creditors who twice spurned a restructuring offer, has until July 30 to either pay them, negotiate a settlement or default.
The bank, which operated three branches, had about $72.9 million in assets and $71 million in deposits as of March 31. The FDIC said that Providence Bank also agreed to buy roughly $67.7 million of GreenChoice Bank's assets. The FDIC has said 2010 likely was the high-water mark for bank failures from the recession.
July 25- Detroit released a revised debt adjustment plan on Friday that details the role of a post-bankruptcy monitor and sets up a reserve fund to possibly enhance recoveries for certain creditors.
The Cherokee, Iowa, plant will close on Sep. 27, while the Buffalo, New York, and Santa Teresa, New Mexico plants are expected to cease operations in the first half of 2015, the company said.
LONDON, July 25- Britain's BSkyB has agreed to pay around 4.9 billion pounds to buy Rupert Murdoch's pay-TV assets in Germany and Italy, responding to the slowing growth at home with a deal to create a European media powerhouse.
LONDON, July 25- Britain's BSkyB has agreed to pay around 4.9 billion pounds to buy Rupert Murdoch's pay-TV assets in Germany and Italy, responding to the slowing growth at home with a deal to create a European powerhouse.
DALLAS— Bankrupt power giant Energy Future Holdings terminated its restructuring agreement and announced plans to auction its stake in the profitable power transmission business Oncor Electric Delivery Co., according to a filing Thursday with the U.S. Securities and Exchange Commission.
WASHINGTON— The risk of losing your job is getting smaller and smaller. As the U.S. economy has improved and employers have regained confidence, companies have been steadily shedding fewer workers.