The company, operator of Sears department stores and the Kmart discount chain, has been selling or spinning off assets and closing stores for the past few years to try to turn around its business. Sales have been dropping since Lampert combined Sears and Kmart in an $11 billion deal in 2005..» Read More
*Wall Street had strong gains in September, third quarter. NEW YORK, Oct 1- U.S. stocks rose modestly on Tuesday, starting the fourth quarter on a positive note, though investors showed concerns following a partial shutdown of the U.S. government.
Oct 1- Merck& Co, taking a cue from rival drugmakers that have slashed research spending to bolster earnings, on Tuesday said it plans to cut annual operating costs by $2.5 billion and eliminate 8,500 jobs.
*Berkshire to get nearly $2.15 billion in Goldman stock. NEW YORK, Oct 1- U.S. stock index futures pointed to a modestly higher open on Tuesday, indicating a positive start to the fourth quarter, though concerns remained following a partial shutdown of the U.S. government.
Oct 1- Merck& Co, taking a cue from other drugmakers that have slashed research spending to bolster earnings, on Tuesday said it plans to cut annual operating costs by $2.5 billion by the end of 2015 and eliminate 8,500 jobs.
Oct 1- U.S. drugmaker Merck& Co, taking a cue from other drugmakers that have slashed research spending to prop up earnings, on Tuesday said it plans to cut annual operating costs by about $2.5 billion by the end of 2015 and eliminate 8,500 jobs.
TORONTO, Sept 30- Brookfield Property Partners said on Monday it will acquire the 49 percent of Brookfield Office Properties it does not already own for $5 billion in a deal that would consolidate the companies' $45 billion in real estate assets.
*Monte dei Paschi investors wait to see how they will fare. LONDON, Sept 29- Investors awaiting the finer points of Monte dei Paschi's restructuring plan could soon find themselves wishing their bank had run aground at another time and place in the eurozone financial crisis.
WASHINGTON, Sept 27- Federal regulators on Friday removed a roadblock to drugmaker Actavis Inc's purchase of Warner Chilcott Plc after Actavis agreed to sell all rights and assets related to three oral contraceptives and an osteoporosis treatment.
*Glencore has deal to keep buying crude for 20 years. SOCHI/ LONDON, Russia, Sept 27- Commodities trader and mining giant Glencore Xstrata could become a shareholder in Russian oil firm Russneft as part of a debt restructuring, Russneft's owner said on Friday.
WASHINGTON, Sept 26- Generic drugmaker Mylan Inc has won U.S. antitrust approval to buy Agila, a unit of India's Strides Arcolab Ltd, subject to divesting some products, the Federal Trade Commission said on Thursday. India's cabinet approved the deal on Sept. 3.
LONDON/ NEW YORK, Sept 26- Nestle SA, the world's largest food company, is looking to divest its PowerBar energy bars, a pioneer of sports nutrition products, according to four people familiar with the matter. The brand, which one of the sources said generates about $175 million in revenue, was founded by Brian Maxwell, a Canadian athlete and entrepreneur.
Sept 27- Japanese consumer electronic company Panasonic Corp said it will sell an 80 percent stake in its healthcare business to U.S. investment firm KKR& Co. LP for about 150 billion yen, the Nikkei reported.
Sept 26- Nucor Corp said on Thursday that a storage dome collapsed at its steel plant in St. James Parish, Louisiana, delaying the start-up of its new direct reduced iron plant until the end of the year. Nucor said there were no injuries and no environmental impact due to the collapse of the storage dome on Wednesday afternoon.
NEW YORK, Sept 26- SunGard Data Systems Inc is in talks with buyout firm Apax Partners LLP to sell its data management unit, which it has been hoping to divest for as much as $2 billion, several people familiar with the matter said.
NEW YORK, Sept 25- Keywell LCC, a Chicago- based metals recycler, has filed for Chapter 11 bankruptcy protection, blaming weak nickel prices and poor stainless steel demand, according to a court filing that outlined plans to sell the company to a larger rival.
*Peugeot pledges to avoid plant closures in 2014-16. PARIS, Sept 25- PSA Peugeot Citroen pledged to avoid further factory closures in talks with French unions on Wednesday but suggested it may halt production lines at sites including Mulhouse. A Peugeot spokesman declined to comment on the remarks or on an upcoming round of talks on possible restructuring.
Sept 25- American Express Co, squeezed by tighter corporate travel budgets, said it was in talks to sell half of its business travel division for up to $1 billion to an investor group led by Certares International Bank LLC. This has hurt American Express, which gets more than a quarter of its U.S.-billed business from affluent corporate customers.
Sept 25- American Express Co said it is in talks with an investor group led by Certares to create a joint venture that would run the credit card company's business travel division. The investor group will invest between $700 million and $1 billion in the joint venture for a 50 percent stake, AmEx said in a statement.
LOS ANGELES, Sept 25- Liquefied natural gas producer Applied Natural Gas Fuels Inc on Wednesday said it plans to build a plant in Texas to supply LNG to industries like rail and trucking that want to reduce reliance on more-expensive diesel fuel. The privately held company has secured land south of Dallas in Midlothian, Texas and is in the permitting process.
DENVER, Sept 24- Barrick Gold Corp is in talks on further asset sales, with the focus on divesting smaller, higher-cost mines, Chief Executive Jamie Sokalsky told Reuters on Tuesday. Barrick, the world's largest gold producer, announced a deal last month to sell three of its high-cost mines in Australia for $300 million.