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  • *Glencore takeover risk rises as shares fall. LONDON, July 2- Anglo American is planning to cut between 5 and 20 percent of staff at head offices around the world, sources close to the matter said, in an effort to keep shareholders on side and respond to a commodity price rout that has hit profits. Anglo American declined to comment.

  • State banks Banco do Brasil SA and Caixa Econômica Federal, as well as private-sector lenders Itaú Unibanco Holding SA, Banco Santander Brasil SA and Banco Bradesco SA waived immediate repayment to allow Sete to continue with a reorganization program, said the sources, who requested anonymity due to legal restrictions on discussing the issue publicly.

  • BERLIN, July 2- The German government decided on Thursday to order the shutdown of several coal-fired plants in order to reach its ambitious climate goals by 2020, government sources told Reuters. Chancellor Angela Merkel and the leaders of her two junior coalition parties also settled a dispute over high-voltage power lines which are planned to carry green...

  • ArcelorMittal Mexico unit to slash 2,800 jobs Wednesday, 1 Jul 2015 | 8:41 PM ET

    MONTERREY, July 1- ArcelorMittal, the world's largest producer of steel, will cut 2,800 jobs at its Mexico unit as global prices slump, it said in a joint statement with local competitors on Wednesday, while accusing Russia, China and Turkey of dumping steel on markets at levels below production costs. Altos Hornos de Mexico, DeAcero and ArcelorMittal warned in the...

  • July 1- Moody's Investors Service on Wednesday downgraded Puerto Rico's general obligation and guaranteed bonds further into junk territory, citing Governor Alejandro García Padilla's declaration that the commonwealth cannot pay its debt. Moody's said the commonwealth's decision to devise broad restructuring plans were "clear signs that holders of...

  • WILMINGTON, Delaware, July 1- The bankrupt $3.5 billion Baha Mar mega resort in the Bahamas secured up to $30 billion in interim financing on Wednesday, but it was unclear when construction on the stalled project would resume. Baha Mar's developer, Sarkis Izmirlian, the son of Armenian billionaire Dikran Izmirlian, has agreed to arrange the funding.

  • BANKRUPT BAHA MAR BAHAMAS RESORT IS 8-12 WEEKS AWAY FROM COMPLETION ONCE CONSTRUCTION RESUMES-LAWYER TELLS BANKRUPTCY JUDGE.

  • NEW YORK— RadioShack will live on after its bankruptcy. That means Standard General can use the name on the more than 1,740 RadioShack stores it bought in April. As part of the deal, Standard General will also acquire RadioShack's other brands, including Enercell batteries and Auvio speakers.

  • July 1- Puerto Rico's distressed power authority, PREPA, avoided default on Wednesday by making a $415 million bond payment, but creditors cautioned if restructuring negotiations with the utility over its $9 billion debt deteriorate it would take legal action. Puerto Rico's governor, Alejandro Garcia Padilla, said on Monday he wanted to restructure the debt...

  • MONTPELIER, Vt.— GlobalFoundries announced Wednesday it had completed its purchase of IBM's microchip plants in Vermont and New York, giving a new lease on life to a big employer in Vermont and New York's Duchess County. "Today we know that a stable and thriving workforce will remain right here in Vermont. I am extremely encouraged that GlobalFoundries has...

  • MOSCOW, July 1- Russian state lender Sberbank intends to begin bankruptcy proceedings against three subsidiaries of indebted miner Mechel, a bank official said on Wednesday. After months of discussions with lenders and government officials to restructure its $6.6 billion net debt, Mechel has reached agreements with all of its creditors except Sberbank,...

  • IMF urges Ukraine, creditors to reach agreement Tuesday, 30 Jun 2015 | 6:45 PM ET

    WASHINGTON, June 30- The International Monetary Fund on Tuesday urged Ukraine and its creditors to reach an agreement over debt restructuring after meeting with both sides in Washington. Agreeing on a debt restructuring is one of the conditions Kiev must meet under the IMF's $17.5 billion bailout program. "The Fund encourages Ukraine and its creditors to...

  • *Greece submits new aid proposal to creditors. *Malta PM: Greece willing to suspend referendum if talks resume- report. Greece, hours from missing a 1.6 billion euro payment due to the International Monetary Fund, submitted a new aid proposal to its creditors, calling for debt restructuring in what seemed like a last-ditch effort by Athens to resolve its impasse...

  • NEW YORK, June 30- U.S. fund manager OppenheimerFunds, the largest holder of Puerto Rico debt among U.S. municpal bond funds, warned the island it stands ready to defend the terms of bonds it holds, a day after the governor said he wanted to restructure debt and postpone bond payments. Puerto Rico's Governor Alejandro Garcia Padilla could be heading toward a fight...

  • NEW YORK, June 30- Stocks on Wall Street rose in choppy trade on Tuesday and a global equities gauge ticked up, while the euro remained under pressure as Greece grappled with a looming deadline on a debt payment to the IMF. Greece submitted a new two-year aid proposal to its creditors, calling for debt restructuring in what seemed like a last-ditch effort by Athens...

  • NEW YORK, June 30- Stocks on Wall Street rose in choppy trade on Tuesday and a global equities gauge ticked up, while the euro remained under pressure as Greece grappled with a looming deadline on a debt payment to the IMF. Greece submitted a new two-year aid proposal to its creditors, calling for debt restructuring in what seemed like a last-ditch effort by Athens...

  • NEW YORK, June 30- Stocks on Wall Street edged up on Tuesday to keep a global equities gauge higher despite declines in Europe, while the euro remained under pressure as Greece grappled with a looming deadline on a debt repayment to the IMF. Greece submitted a new two-year aid proposal to its creditors, calling for debt restructuring in what seemed like a...

  • LONDON, June 30- X2 Resources, the private equity fund set up by former Xstrata boss Mick Davis, is now in initial bi-lateral talks to buy some of Rio Tinto's Australian coal assets, a source close to the situation said on Tuesday. The mining industry veteran is also considering buying some coal mines Anglo American has put up for sale in Australia, sources close to X2...

  • TORONTO, June 30- Cenovus Energy Inc, Canada's second-largest independent oil producer, said on Tuesday it has agreed to sell its portfolio of oil and gas royalty properties to Ontario Teachers' Pension Plan for about C $3.3 billion. As Reuters first reported this month, the decision to sell the unit, Heritage Royalty Ltd, to Teachers' Natural Resources Group was...

  • ConAgra to sell store-brand food business Tuesday, 30 Jun 2015 | 7:39 AM ET

    NEW YORK— ConAgra Foods Inc. plans to sell its faltering business that makes store-brand packaged food just two years after spending $5 billion to beef it up by buying the private-label foodmaker Ralcorp. The company's shares rose $1.37, or 3.2 percent, to $44.80 in premarket trading. ConAgra, based in Omaha, Nebraska, has been under scrutiny by activist investor...