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  • Jan 31- Detroit on Friday filed a lawsuit in U.S. bankruptcy court seeking to invalidate $1.44 billion of debt sold to fund public worker pensions- a move that also could void the ill-fated interest-rate swaps contracts that were a factor leading Detroit into bankruptcy.

  • Detroit sues retirement funds to void pension debt Friday, 31 Jan 2014 | 6:02 PM ET

    Jan 31- Detroit on Friday sued its two retirement systems in U.S. Bankruptcy Court, seeking to invalidate $1.45 billion of debt sold in 2005 and 2006 to fund public worker pensions, according to a court filing.

  • NEW YORK, Jan 31- LightSquared Inc and its various creditors are in talks to devise a consensual plan to restructure the wireless company's assets and end its bankruptcy, the company told a judge on Friday.

  • NEW YORK, Jan 31- Wal-Mart Stores Inc Friday cut its quarterly profit outlook because of a host of issues, including reduced food stamp benefits and the restructuring of Sam's Club's in the United States and the closing of stores in Brazil and China.

  • NEW YORK, Jan 31- Wal-Mart Stores Inc said on Friday that bad weather and reduced food stamp benefits in the United States had dragged down comparable-store sales in the fiscal fourth quarter, more than offsetting a positive bump from the holiday season.

  • NEW YORK, Jan 31- Wal-Mart Stores Inc shaved its quarterly and fiscal-year outlooks to account for special items, including those tied to its store closures in Brazil and China and its Sam's Club restructuring in the United States. Wal-Mart said it had closed about 50 stores in Brazil and China.

  • WASHINGTON, Jan 30- U.S. officials are likely to allow China's Lenovo Group to buy IBM's low-end server business and Google Inc's Motorola Mobility handset business if it agrees to concessions aimed at protecting U.S. national security, experts said.

  • UPDATE 2-Conoco profit beats estimates, asset sales help Thursday, 30 Jan 2014 | 10:38 AM ET

    Jan 30- ConocoPhillips, the largest U.S. oil company without refining operations, said on Thursday its fourth-quarter profit rose more than expected, helped by the sale of its Algerian business and production of more North American crude oil.

  • Jan 30- ConocoPhillips, the largest U.S. oil company without refining operations, on Thursday said its fourth-quarter profit rose with help from the sale of its Algerian business and lower taxes. Profit in the quarter was $2.5 billion, or $2.00 per share, compared with $1.4 billion, or $1.16 per share, a year earlier.

  • ConocoPhillips quarterly profit higher on asset sales Thursday, 30 Jan 2014 | 7:19 AM ET

    Jan 30- ConocoPhillips, the largest U.S. oil company without refining operations, on Thursday said its fourth-quarter profit rose, helped by the sale of its Algerian business and other assets. Profit in the quarter was $2.5 billion, or $2.00 per share, compared with $1.4 billion, or $1.16 per share, a year earlier.

  • Jan 29- Detroit's creditors got their first look Wednesday at the city's proposed plan to adjust its debt and emerge from bankruptcy, though no details were immediately available.

  • Jan 29- WellPoint, the second-largest U.S. health insurer, on Wednesday reported a lower quarterly profit as it took a charge for the sale of its contact lens business, and it said 2014 earnings would also decline. The company forecast earnings of at least $8 per share in 2014, representing a likely drop from the $8.52 it earned in 2013 before special items.

  • Jan 28- CIT Group Inc reported a 37 percent fall in its quarterly profit as the century-old small-business lender booked a charge and earned lower interest income. The company booked a $45 million settlement charge in the quarter related to a dispute with former parent Tyco International Ltd..

  • Rio Tinto in talks to sell Quebec aluminum plant Monday, 27 Jan 2014 | 7:47 PM ET

    Sotrem, a company based in Saguenay, Quebec, that makes aluminum foundry alloys and deox, a type of aluminum used to remove oxygen in steel production, is leading the deal to buy the plant, said Yvon D' Anjou, who is in charge of the project. "We expect to come to a consensus in the next few months," said D' Anjou.

  • UPDATE 1-Wal-Mart's cuts 2,300 jobs at Sam's Club Friday, 24 Jan 2014 | 7:19 PM ET

    Jan 24- Wal-Mart Stores Inc said on Friday it had cut 2,300 jobs, or roughly 2 percent of the total workforce at its Sam's Club retail warehouse chain, its biggest round of layoffs since 2010.. The action follows a lackluster U.S. holiday season and layoffs announced earlier this month from U.S. retailers Macy's Inc, J.C. Penney Co Inc and Target Corp..

  • Wal-Mart's cuts 2,300 jobs at Sam's Club Friday, 24 Jan 2014 | 6:43 PM ET

    Jan 24- Wal-Mart Stores Inc said it cut roughly 2 percent of total employees, or about 2,300 jobs, at its Sam's Club retail warehouse chain on Friday, its biggest round of layoffs since 2010.. The action comes on the heels of a lackluster U.S. holiday season and layoffs announced earlier this month from U.S. retailers Macy's Inc, J.C. Penney Co Inc and Target Corp..

  • BRASILIA, Jan 24- Bankrupt oil company Oleo e Gas Participações S.A., controlled by Brazilian businessman Eike Batista, has agreed with bondholders to delay the presentation of its restructuring plan until Jan. 31, the company said in a statement on Friday.

  • SAO PAULO, Jan 24- Bankrupt oil producer Ôleo e Gás Participações SA has delayed detailing its restructuring plan to creditors by about a week as it tries to secure up to $200 million in new funding, said two sources familiar with the situation on Friday. Ôleo e Gás, controlled by Brazilian tycoon Eike Batista whose business empire collapsed last year, and its creditors were discussing terms of a potential $200 million debtor-in-possession loan, said the sources.

  • SAO PAULO, Jan 24- Bankrupt oil producer Ôleo e Gás Participações SA will delay presenting its restructuring plan to creditors, initially scheduled for Friday, two sources familiar with the situation told Reuters. Ôleo e Gás, formerly known as OGX Petróleo e Gas Participações SA, and creditors are discussing terms of a potential $200 million debtor-in-possession loan, said the sources, who declined to be identified because the talks are private.

  • SEOUL, Jan 24- General Motors is seeking to cut shifts by half at one of its South Korean factories as it realigns global manufacturing in a move that could affect about 1,100 jobs, a source with direct knowledge of the matter told Reuters on Friday.

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