The company, operator of Sears department stores and the Kmart discount chain, has been selling or spinning off assets and closing stores for the past few years to try to turn around its business. Sales have been dropping since Lampert combined Sears and Kmart in an $11 billion deal in 2005..» Read More
No firm lost more employees than Cantor Fitzgerald on 9/11. CNBC's Mary Thompson reports on the company's charity day that works to raise money for the victims' families. In 2012, the firm raised $12 million. Former New York City Mayor Rudy Giuliani reflects on the day, and the New York City election.
Sept 11- India's Jaiprakash Associates Ltd has agreed to sell its cement plant in Gujarat state to UltraTech Cement Ltd for around 38 billion rupees including debt.
Sept 11- International Paper Co said it will close its Courtland, Alabama, paper mill by early next year, laying off 1,100 workers. The mill has an annual production capacity of 950,000 tons.
Pluspetrol plans to retain Harvest's 32 percent interest in Petrodelta SA, a joint venture between Harvest and Venezuela's state-owned Petroleos de Venezuela SA, and spin off the company's other assets to Harvest's shareholders.
Sept 9- SunEdison Inc cut the full-year revenue outlook for its semiconductor business amid weak demand and said it plans to spin off the unit in a $250 million initial public offering to focus on the high-margin solar power business.
Sept 9- SunEdison Inc filed to spin off its semiconductor unit, SunEdison Semiconductor, through an initial public offering of up to $250 million, as the company looks to focus on its high-margin solar power business.
LONDON, Sept 9- Japan's Suntory Beverage& Food Ltd has agreed to buy the Lucozade and Ribena brands from GlaxoSmithKline Plc for 1.35 billion pounds in a deal that boosts its soft drinks portfolio and helps it expand into new markets.
Sept 6- Patriot Coal Corp on Friday filed a restructuring plan that would pay back secured creditors and wipe out shareholders, four weeks after reaching new, cost-saving labor contracts with unionized workers.
In papers filed on Friday in U.S. Bankruptcy Court in Manhattan, the employees said they would appeal Judge Martin Glenn's Aug. 23 decision. More than 1,000 workers were axed when the commodities broker, run by former New Jersey Governor Jon Corzine, filed a $40 billion bankruptcy on Oct. 31, 2011.
TOKYO, Sept 6- Japan's Panasonic Corp is planning to grant preferential negotiating rights to U.S. private equity firm Kohlberg Kravis Roberts& Co in the partial sale of its healthcare unit, the Nikkei business newspaper said on Friday.
TORONTO, Sept 5- Bombardier Inc announced the sale of its Flexjet aircraft ownership business on Thursday, and the new owners agreed to order up to 245 Bombardier business jets valued at $5.2 billion.
MILAN, Sept 5- Italian fashion house Roberto Cavalli reported a 20 percent rise in first-half core earnings, boosted by new outlets and rising royalties, it said on Thursday.
*Sale to Japan's Suntory would pre-empt auction- sources. LONDON, Sept 5- Japan's Suntory Beverage& Food is in advanced talks to buy GlaxoSmithKline's Lucozade and Ribena drinks for more than 1 billion pounds, in a deal that would pre-empt an auction of the brands, two people close to the process said.
NEW YORK, Sept 5- The number of planned layoffs at U.S. firms surged in August to their highest in half a year, with industrial goods manufacturers the hardest hit, a report on Thursday showed. Employers announced 50,462 layoffs last month, up 33.8 percent from 37,701 in July, according to the report from consultants Challenger, Gray& Christmas, Inc..
LONDON, Sept 5- Japan's Suntory Beverage& Food is in advanced talks to buy GlaxoSmithKline's Lucozade and Ribena drinks for more than 1 billion pounds, in a deal that would pre-empt an auction of the brands, two people following the process said. A deal could be announced in the next few days, one of the sources said on Thursday.
Following the confirmation of Vodafone's $130 billion-deal with Verizon on Monday, merger and acquisition (M&A) activity is set to boom according to an upcoming report.
Sept 4- Truck maker Navistar International Corp posted a third-quarter loss compared with a profit a year earlier and said it would cut 500 jobs by the end of the fiscal year. The company posted a loss of $247 million, or $3.06 per share in the third quarter. It had reported a profit of $84 million, or $1.22 per share, a year earlier.
Sept 3- Eastman Kodak Co, the photography pioneer which invented the digital camera, emerged from Chapter 11 bankruptcy protection on Tuesday, with plans to continue as a smaller digital imaging company. The new Kodak will focus on commercial products such as high-speed digital printing technology and printing on flexible packaging for consumer goods.
Sept 3- News Corp said it sold its Dow Jones Local Media Group, which includes eight daily and 15 weekly newspapers, to a unit of Fortress Investment Group LLC. Financial terms of the deal were not disclosed.
Nokia CEO Elop to rejoin Microsoft when deal closes. HELSINKI/ SEATTLE, Sept 3- Two years after hitching its fate to Microsoft's Windows Phone software, a withered Nokia collapsed into the arms of the U.S. software giant, agreeing to sell its main handset business for 5.44 billion euros.