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  • Dec 22- Goldman Sachs Group Inc has sold its controversial metals warehousing business to Swiss private equity group Reuben Brothers, the Wall Street bank said on Monday. Reuben Brothers has a history in steel and iron ore investments through its metal trading company Metalloyd. In April, the firm sold its stake in Erus Metals, a small warehousing company based...

  • Dec 19- Caesars Entertainment Operating Co, the main operating unit of Caesars Entertainment Corp, said it would file for Chapter 11 bankruptcy protection by mid-next month to cut its burgeoning debt. Other units, including Caesars Entertainment, Caesars Entertainment Resort Properties and Caesars Growth Partners, will not be part of the court-supervised...

  • Dec 19- Caesars Entertainment Operating Co, the main operating unit of Caesars Entertainment Corp, said it would file for Chapter 11 bankruptcy protection by mid-next month as it tries to cut its burgeoning debt.

  • MEXICO CITY, Dec 19- Mexico's state oil company Pemex is renegotiating service contracts worth hundreds of millions of dollars in a drive to cut costs as it grapples with falling crude prices, its chief executive said. Mexico's main crude export mix is worth even less, trading around $51 a barrel on Friday, while Pemex's average production costs are about $22 per...

  • Dec 19- Binder& Binder, one of the largest social security disability firms in the United States, filed for Chapter 11 bankruptcy protection late on Thursday, court filings showed. U.S. Bank National Association and Capital One have agreed to provide debtor-in-possession financing of up to $26 million, the filings showed. The case is in the U.S. Bankruptcy Court...

  • *Allianz sells Fireman's Fund personal lines to ACE Ltd.. FRANKFURT, Dec 18- German insurer Allianz on Thursday said it had agreed to sell its Fireman's Fund personal insurance business to insurer ACE for $365 million, freeing Allianz to focus on building its U.S. property and casualty operations. The deal clears up one of two problem areas for Allianz in the...

  • UPDATE 1-Jefferies in talks to sell futures business Tuesday, 16 Dec 2014 | 9:33 AM ET

    Dec 16- Investment bank Jefferies Group LLC, owned by Leucadia National Corp, reported a quarterly net loss and said it was in talks to sell its futures brokerage. Jefferies bought the business, formerly known as Prudential Bache, from Prudential Financial Inc in 2011 for $430 million to expand into a full-fledged investment bank. Leucadia, which models itself on...

  • LONDON, Dec 16- InterContinental Hotels Group, one of the world's largest hoteliers, has agreed to buy U.S.-focused Kimpton Hotels& Restaurants for $430 million to boost its exposure to the faster-growing boutique hotel sector. IHG, home to the Crowne Plaza, Holiday Inn and InterContinenal brands, said on Tuesday that the cash acquisition would be earnings...

  • LONDON, Dec 16- InterContinental Hotels Group, one of the world's largest hoteliers, said it had agreed to acquire U.S.-focused Kimpton Hotels& Restaurants for $430 million to boost its exposure to the boutique hotel space. IHG, home to the Crowne Plaza, Holiday Inn and InterContinenal brands, said on Tuesday that the cash acquisition would be earnings enhancing...

  • HONG KONG/ SINGAPORE, Dec 16- Standard Chartered is selling its Hong Kong and Shenzhen consumer finance businesses to a consortium that includes a Chinese state firm, helping the emerging markets-focused lender to clinch its biggest asset disposal as part of a restructuring. In what is expected to be the first of many divestitures, Standard Chartered has...

  • Dec 15- GT Advanced Technologies Inc altered its settlement with former partner Apple Inc to produce more near-term cash to support its emergence from bankruptcy, a lawyer for the sapphire maker told a court on Monday. The new terms should be worth $50 million more than the original settlement, according to an attorney for GT noteholders, providing financing...

  • Dec 15- The trustee handling the liquidation of the brokerage unit of Lehman Brothers Holdings Inc filed a petition with the U.S. Supreme Court on Monday seeking review of the business's cash assets awarded to Barclays Plc. Trustee James Giddens, who has been seeking to recoup money for the brokerage's creditors, said lower court rulings granting margin assets...

  • NEW YORK/ SAN JUAN, Puerto Rico Dec 15- R estructuring experts will present different scenarios to overhaul Puerto Rico's troubled electric power authority to creditors on Monday, but will stop short of recommending job cuts, the president of PREPA's board said in a statement. The proposals, which will not be made public, were prepared by Chief Restructuring...

  • BUSINESS PLAN FOR PUERTO RICO ELECTRIC AUTHORITY TO BE. SAN JUAN, Dec 15- A business plan for PREPA, the troubled Puerto Rican electric authority, is to be presented to creditors on Monday, board president Harry Rodriguez said in a statement. The business plan of Chief Restructuring Officer Lisa Donahue is a working document that will present different scenarios...

  • Dec 15- Emerson Electric Co said it would sell its power transmission unit to Regal Beloit Corp, a maker of electric motors, for $1.44 billion as it streamlines its business. Regal Beloit's shares rose 6 percent premarket on Monday on the deal, the company's biggest acquisition. Regal Beloit was competing with ball bearings maker Timken Co, brake and clutch maker...

  • Dec 15- Emerson Electric Co said it would sell its power transmission business to Regal Beloit Corp, a maker of electric motors, for $1.44 billion. The deal comprises $1.4 billion in cash and assumption of certain post-retirement liabilities, Emerson said. The unit had revenue of more than $600 million in 2014 and employed more than 3,000 people, the company said.

  • Dec 11- Caesars Entertainment Corp has reached a tentative deal with senior bondholders over a debt restructuring plan for its largest unit, Caesars Entertainment Operating Co, the Wall Street Journal reported, citing people familiar with the matter. The unit has about $18.4 billion in debt, mostly held by hedge funds that buy up debt of troubled companies,...

  • SeaWorld CEO to step down, company to cut jobs Thursday, 11 Dec 2014 | 6:15 PM ET

    SeaWorld did not say how many jobs it would cut, as part of its restructuring plan aimed at saving about $50 million by the end of 2015.. Negative publicity has hurt SeaWorld' s 11 park enterprises, with attendance rising only twice in the last seven quarters. SeaWorld shares closed at $16.09 on the New York Stock Exchange on Thursday.

  • Dec 11- Struggling electronics retailer RadioShack Corp said it expected its cost cutting to save more than $400 million annually but did not say when that would be achieved. RadioShack, which warned of bankruptcy in September, has been trying to turn around its business by closing unprofitable stores. Lenders refused to approve the 1,100 store closures...

  • Dec 10- The change atop United Technologies Corp has set off speculation the U.S. conglomerate may eventually shake up its diverse industrial businesses, including possibly divesting its Sikorsky helicopter unit. Shares of United Technologies have climbed 4 percent since the company announced on Nov. 24 that Chief Financial Officer Greg Hayes replaced...