JAKARTA, Oct 31- Indonesia's mining-to-telecoms conglomerate Bakrie Group will negotiate with creditors to restructure part of its $8 billion in debt rather than sell major assets, people familiar with its strategy say. Some creditors sued one Bakrie company in New York while a Jakarta supplier has asked an Indonesian court to supervise a debt...» Read More
LONDON/ FARGO, North Dakota, Aug 14- Royal Dutch Shell on Thursday announced the sale of two onshore U.S. shale gas assets in exchange for $2.1 billion and acreage in different gas-rich areas as the energy company restructures its North America business and reins in costs.
NEW YORK, Aug 14- General Electric Co is in talks with Sweden's Electrolux AB and other parties to sell its household appliances unit, people familiar with the matter said on Thursday. Bloomberg News earlier reported that GE's appliances unit had drawn interest from Electrolux and consumer development startup Quirky.
LONDON, Aug 14- Royal Dutch Shell Plc announced on Thursday the sale of onshore U.S. shale gas assets as the energy company restructures its North America production and reins in costs.
Aug 14- Royal Dutch Shell Plc said it had agreed to sell its natural gas-producing properties in Wyoming's Pinedale field and Louisiana's Haynesville field for about $2.1 billion in cash.
FRANKFURT, Aug 13- German industrial group Siemens is renewing efforts to divest its hearing aids business in a deal that could be worth about 2 billion euros, sources familiar with the matter said.
Aug 14- Network equipment maker Cisco Systems Inc said it would take restructuring charges of $700 million in cash in the year ending July 2015 related to its plan to cut 6,000 jobs. Cisco shares were down 1.5 percent at $24.82 in premarket trading on the Nasdaq.
Aug 14- Network equipment maker Cisco Systems Inc said it would take restructuring charges of $700 million in cash in the year ending July 2015 related to its plan to cut 6,000 jobs. Cisco said $250- $350 million of the charges would be recognized in the first quarter.
General Electric is reportedly in talks with Electrolux and Quirky to sell its household appliances unit, Bloomberg reported, citing people familiar with the matter.
Aug 13- A federal judge on Wednesday once again delayed the start of the key phase of Detroit's historic bankruptcy case, pushing it to Aug. 29 from Aug. 21.
Bankruptcy Judge Steven Rhodes on Wednesday pushed the start of the trial on Detroit's exit from the largest municipal bankruptcy in U.S. history to Aug. 29 from Aug. 21, with opening statements scheduled for the following Tuesday, Sept. 2.
SAN JUAN, Puerto Rico, Aug 13- Puerto Rico's electric power authority, PREPA, is likely to get an extension of vital lines of credit in an agreement that could see lenders appoint a restructuring expert at the debt-stricken utility, a financial industry executive familiar with the situation said on Wednesday.
DETROIT, Aug 13- General Motors Co will start construction this fall on a $174 million stamping plant in Lansing, Michigan, that will make components for the nearby Lansing Grand River assembly plant, the company said on Wednesday. The ATS and CTS are built at the Lansing Grand River assembly plant.
The move, known as acceleration, could push Argentina into a new restructuring on up to US $30 bn in debt and significantly complicate efforts to put its decade-long debt woes to rest.
Aug 12- A federal judge could once again push back the start date for the trial on Detroit's exit from the largest municipal bankruptcy in U.S. history after some creditors said on Tuesday a possible settlement is snarling key components of the restructuring plan.
WASHINGTON, Aug 11- Detroit's largest union said on Monday that the city's historic bankruptcy proceedings have given the management of the water and sewer department opportunities to disrupt bargaining units and strip union members of job protections.
Aug 11- Mobile service provider NII Holdings Inc, reporting its ninth quarterly loss in a row, said on Monday it may have to file for bankruptcy after struggling to compete in Brazil and Mexico. The company, which operates in Latin America under the Nextel brand, ended the second quarter with a net debt of $4.8 billion and with $1 billion in cash and investments.
Aug 11- Juice maker Cutrale and investment firm Safra Group said on Monday they had offered to acquire U.S.-based Chiquita Brands International Inc in a $610.5 million cash deal that rivaled an all-stock agreement with Irish tropical fruit company Fyffes Plc. The combined market value of Chiquita and Fyffes is currently close to $1 billion.
LONDON, Aug 8- Ukrainian companies' dollar bonds are lower than they've been for months on fears the country's worsening economy, armed rebellion and dispute with Russia will send more of them the way of agro firm Mriya, which has hinted at a debt restructuring.
Aug 7- The bankrupt Revel Casino Hotel in Atlantic City, New Jersey, has postponed an auction of the 1,400- room property by a week to Aug. 14 to allow more time to evaluate bids, according to a court filing late on Wednesday.
WASHINGTON, Aug 6- The city of Detroit is zeroing in on financing for its exit from bankruptcy and intends to have a committed lender in coming weeks, its lawyers told Bankruptcy Judge Steven Rhodes on Wednesday.