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  • NEW YORK, April 15- Creditors of Puerto Rico's troubled power authority, PREPA, are planning to give the utility another 15 days leeway under an agreement aimed at staving off a messy default, sources familiar with the creditors' thinking said on Wednesday. Creditors plan to accept that proposal as sides debate how to restructure PREPA's $9 billion in debt, said...

  • Germany declines comment on Greek bankruptcy plan report Wednesday, 15 Apr 2015 | 6:12 AM ET

    BERLIN, April 15- The German government declined comment on Wednesday on a story in German weekly Die Zeit which said Berlin was working on a plan that would allow Greece to receive financing from the European Central Bank even if it missed payments to creditors. "The plan under discussion is aimed at allowing he ECB to continue financing of Greece in the event of...

  • MOSCOW, April 15- Russia's top lender, Sberbank, plans to file a bankruptcy lawsuit against Mechel after talks on restructuring the steel producer's debt failed, RIA news agency quoted Sberbank's head, German Gref, as saying on Wednesday.

  • April 15- Toyota Motor Corp, the world's biggest automaker, plans to move production of its Corolla compact cars to a new factory in Mexico from Canada to benefit from lower costs, the Globe and Mail reported, citing sources familiar with the situation. Costs at Toyota's assembly plants at Cambridge and Woodstock in Ontario are higher than at its U.S. factories and...

  • NEW YORK, April 14- Negotiations between Puerto Rico's troubled electric power authority and a group of its creditors turned into a testy public exchange on Tuesday as an agreement to prevent a possible messy default by Wednesday's deadline proved illusive. The public dispute, highly unusual in restructuring negotiations that are normally conducted...

  • WILMINGTON, Del, April 14- The number of bankruptcies among publicly traded U.S. companies has climbed to the highest first-quarter level for five years, according to a Reuters analysis of data from research firm bankruptcompanynews.com. The $34 billion in assets held by the 26 companies is the second highest for a first quarter in the past decade.

  • April 14- Avon Products Inc, a direct seller of cosmetics, is exploring strategic alternatives, which could include a sale of its North America business, the Wall Street Journal reported on Tuesday. Chief Executive Sheri McCoy has been struggling to turn around Avon as it loses representatives- the so-called "Avon Ladies"- in the United States, and grapples with...

  • Avon exploring sale of North America business - WSJ Tuesday, 14 Apr 2015 | 1:20 PM ET

    April 14- Avon Products Inc, a direct seller of cosmetics, is exploring strategic alternatives, which could include a sale of its North America business, the Wall Street Journal reported on Tuesday. The company said late on Monday it was postponing its Analyst Day from May 13 to fall 2015 to give adequate time for its new Chief Financial Officer James Scully to...

  • NEW YORK, April 14- A $2 billion bondholder plan to restructure Puerto Rico's troubled power authority contains aggressive elements that are unlikely to work, the utility's chief restructuring officer said in testimony before Puerto Rico's Senate on Tuesday. Lisa Donahue said demands that creditors be paid in full and on time would be unlikely to work as a...

  • UPDATE 1-Citi seeking to sell retail FX arm -source Tuesday, 14 Apr 2015 | 8:32 AM ET

    LONDON, April 14- Citigroup Inc is seeking a buyer for its retail forex brokerage CitiFX Pro as part of efforts to streamline the banking world's biggest currency trading operation, a source familiar with the situation told Reuters on Tuesday. Citi has cut staffing and computerised many elements of its currency business in recent years. New York- based Citi has...

  • LONDON, April 14- Nestle is in advanced talks to sell its frozen food unit Davigel to Brakes Group, owned by buyout fund Bain Capital, a person familiar with the situation said on Tuesday. Credit Suisse is handling the sale for Nestle, which is expected to raise between 200 million and 300 million euros, said a second source. Nestle declined to comment, while Brakes...

  • LONDON, April 14- Nestle is in advanced talks to sell its frozen food unit Davigel to Brakes Group, owned by buyout fund Bain Capital, a person familiar with the situation said on Tuesday. The talks, reported earlier by French daily Les Echos, are ongoing and a deal is expected to be signed soon, said the person, who asked not to be named because the discussions are...

  • GE Capital deal shows 'focused is beautiful': CEO Monday, 13 Apr 2015 | 10:37 AM ET
    GE General Electric

    Conglomerates are coming to the conclusion that they should stick to businesses in which they have a competitive advantage, Harry Wilson tells CNBC.

  • SYDNEY, April 10- Australia's largest private land owner will sell its cattle operations, including the world's largest ranch and an area equivalent in size to South Korea, to raise cash for other businesses and investments. S. Kidman& Co said it will sell its privately owned 11 cattle stations and a feedlot, complete with more than 200,000 head of cattle and more...

  • LONDON, April 9- Three years after facing off over Greece's debt workout, the two giants of debt restructuring- Lazard and Blackstone- are again preparing to do battle, one for Ukraine and the latter on behalf of its creditors. Another prominent player is Franklin Templeton, one of the world's biggest asset managers, whose star investor, Michael Hasenstab, has...

  • April 9- Investment bank Jefferies Group LLC, owned by Leucadia National Corp, said it will sell most of its Bache unit's futures business to Societe Generale. Societe Generale said in a statement on Thursday that the transaction covered mostly futures execution and clearing activities. Societe Generale's shares were slightly up at 46.54 euros in Paris.

  • April 9- Investment bank Jefferies Group LLC, owned by Leucadia National Corp, said it will sell most of Bache unit's futures business to Societe Generale. Jefferies also said it bought Faros Trading LLC, the institutional foreign exchange brokerage unit of retail currency broker FXCM Inc.. Societe Generale's shares were slightly up at 46.54 euros in Paris.

  • WASHINGTON, April 8- Former New York Mayor Michael Bloomberg's charity has injected another $30 million into an environmental campaign to halve the number of U.S. coal-fired power plants by 2017, it said on Wednesday. The mayor and the Sierra Club said 12 other contributors would match Bloomberg Philanthropies' $30 million donation. With opposition...

  • Shell gambles on rocky Brazil, Petrobras with BG bid Wednesday, 8 Apr 2015 | 9:49 AM ET
    A Petrobas platform at the Brasfels shipyard in Angra dos Reis, about 115 miles west of Rio de Janeiro.

    Shell’s $69 billion bid for BG Group could increase its exposure to Brazil at a time when the country appears to be destabilizing and stagnating.

  • Fintech joins in on global M&A spree Wednesday, 8 Apr 2015 | 7:00 AM ET
    Handshake M&A mergers

    The merger and acquisition climate in Europe got a little hotter on Wednesday with yet more dealmaking in the technology sector