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  • Jan 27- Troubled logistics company UTi Worldwide Inc said it would cut several senior positions and no longer maintain regional infrastructure as a way to reduce costs, just a month after Edward Feitzinger took over as chief executive. Feitzinger replaced Eric Kirchner, who had led the company for six years. The restructuring will result in annual savings of...

  • UPDATE 1-UTi Worldwide says to cut several top jobs Tuesday, 27 Jan 2015 | 6:33 PM ET

    Jan 27- Troubled logistics company UTi Worldwide Inc said it would cut several top jobs and no longer maintain regional infrastructure as a way to reduce costs, just a month after Edward Feitzinger took over as chief executive. Feitzinger replaced Eric Kirchner, who had led the company for six years. The restructuring will result in annual savings of $30 million...

  • Tim Hortons to cut jobs after takeover by Burger King Tuesday, 27 Jan 2015 | 5:07 PM ET

    TORONTO, Jan 27- Canadian coffee and doughnut chain Tim Hortons confirmed on Tuesday it will cut jobs as it reorganizes after being acquired by U.S. fast food chain Burger King for C $12.64 billion last year. The Financial Post reported last week that a "significant" number of the roughly 1,400 employees at its head office in Oakville, Ontario, and in regional...

  • WILMINGTON, Del, Jan 27- The operating unit of Caesars Entertainment Corp will learn Wednesday whether its bankruptcy will proceed in Chicago, where the casino company filed for Chapter 11 this month, or in Delaware, a U.S. bankruptcy judge in Delaware said on Tuesday. Allowing the case to proceed in Chicago would be a victory for Caesars private equity backers,...

  • Sony to cut 1,000 jobs in smartphone business - Nikkei Tuesday, 27 Jan 2015 | 2:28 PM ET

    Jan 27- Sony Corp plans to cut another 1,000 jobs in its smartphone division, mainly in Europe and China, the Nikkei business daily reported. The cuts are in addition to the 1,000 jobs Sony said it would eliminate in its mobile unit in October, the Nikkei said. Overall, Sony's mobile division workforce will shrink by about 30 percent to 5,000 by the end of the fiscal...

  • Jan 26- IBM dismissed on Monday a Forbes magazine report claiming the technology firm is preparing to cut about 26 percent of its workforce. IBM is in the process of layoffs, as disclosed in its latest earnings report last week, but they will affect "several thousand" employees only, according to an emailed statement from IBM to Reuters. A report last Thursday on...

  • LONDON, Jan 26- When Mario Draghi announced the European Central Bank's trillion-euro scheme to buy government bonds, he acknowledged that in the round of strategies to revive inflation and boost the economy, the bank had just played its last hand. Asked by reporters what would happen if the plan to purchase 60 billion euros of assets a month for 19 months failed,...

  • HONG KONG, Jan 26- U.S. private equity firm Blackstone Group said it has agreed to sell a prime Sydney office building to China's Dalian Wanda Group for about A $415 million. China's biggest property conglomerate plans to build a 5- star hotel as well as luxury residential and retail developments at the location, the company said in a statement.

  • Jan 23- Moody's Investors Service slashed Atlantic City's credit rating six notches deeper into junk territory on Friday, a day after New Jersey Governor Chris Christie appointed an emergency manager with a mandate to consider a debt restructuring. Atlantic City has about $344 million of long-term debt outstanding. The order from Christie to consider a...

  • CHICAGO, Jan 23- Deere& Co, the world's largest maker of farm equipment, will lay off more than 900 employees at plants in Iowa and Illinois in the latest round of job cuts spurred by a decline in grain prices that is hurting demand for agricultural machinery. Iowa will be hit hardest by the reductions, with about 565 workers in Waterloo and 300 others in Ankeny slated...

  • Jan 23- SkyMall, whose in-flight shopping catalogs have long been a staple of airline travel, has filed for bankruptcy protection, blaming changing consumer habits and the loss of contracts from two major carriers, Delta and Southwest. Xhibit and SkyMall filed for Chapter 11 protection from creditors on Thursday night in the U.S. bankruptcy court in Phoenix,...

  • HONG KONG, Jan 23- Troubled Chinese property firm Kaisa Group is talking to banks and rival developers about selling its assets as the company scrambles to raise cash, according to people with knowledge of the matter. The Wall Street Journal reported on Friday that developers speaking to Kaisa include China Vanke and Shenzhen Overseas Chinese Town.

  • Jan 22- DreamWorks Animation SKG Inc will cut about 500 jobs, more than a fifth of its workforce, and produce one fewer movie a year as part of a major restructuring after a string of box-office misses. DreamWorks, which held unsuccessful buyout talks twice last year, said it plans to produce two feature films per year, down from three, and close its Northern...

  • Jan 22- DreamWorks Animation SKG Inc will cut about 500 jobs, more than a fifth of its workforce, and produce one fewer movie a year as part of a major restructuring after a string of box-office misses. Most of this charge will be incurred in the quarter ended Dec. 31 and the remainder by 2016. DreamWorks, which had about 2,200 employees as of Dec. 31, 2013, expects to...

  • "It is unclear at this point whether or not this move up in the trend reflects issues seasonally adjusting the data around the holidays or if it represents a more meaningful deterioration in the labor market," said Daniel Silver, an economist at JP Morgan in New York. State-level data for the week ending Jan. 10 showed an increase in claims in the oil-producing...

  • LONDON, Jan 22- Ukraine's sovereign dollar bonds slumped on Thursday after the government said it would seek talks with bondholders to "improve debt sustainability", interpreted by many as a call to restructure the debt. The comments by Finance Minister Natalia Yaresko are being seen as a call for creditors to write down some of Ukraine's debt as the country...

  • Russia's Gazprom to build LNG plant on the Baltic Sea Thursday, 22 Jan 2015 | 5:02 AM ET

    MOSCOW, Jan 22- Russia's Gazprom said on Thursday it would build a liquefied natural gas plant with an annual capacity of up to 15 million tonnes on the Baltic Sea.

  • Jan 21- More than 4,000 employees of American Express Co will lose their jobs over the next year as part of a restructuring program at the credit card company, a spokeswoman said. This will occur over the course a year throughout the organization, " Marina Hoffmann Norville, a spokeswoman for American Express, said in an email. It said American Express would continue...

  • SAN FRANCISCO, Jan 21- EBay Inc plans to cut its workforce by 7 percent, or 2,400 jobs, in the current quarter and is exploring a sale or public offering of its enterprise unit as the e-commerce company prepares to split from its payments division, PayPal, this year. The jobs will be cut across the marketplace, payments and enterprise divisions, eBay said on Wednesday...

  • HOUSTON— Oil services company Baker Hughes Inc. will lay off about 7,000 workers as it prepares for a downturn in orders because of the plunge in crude prices, the company said Tuesday. The layoffs represent about an 11 percent cut to the 62,000- plus workers Baker Hughes says it employs worldwide. Oil services rival Halliburton had announced in November it...