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  • TOKYO, Feb 20- Japan Display Inc is considering building a plant to supply smartphone screens for Apple Inc, which may shoulder much of the 200 billion yen investment, Japanese media said on Friday. Japan Display, formed in a government-backed deal in 2012 from the ailing display units of Sony Corp, Toshiba Corp and Hitachi Ltd, has endured a rocky spell since its...

  • TOKYO, Feb 20- Japan Display Inc is considering building a new plant to supply smartphone screens for Apple Inc, which may shoulder much of the 200 billion yen investment, Japan's Nikkan Kogyo newspaper said on Friday. The proposed plant in Ishikawa, central Japan, would start operations in 2016 and is expected to produce panels mainly for Apple but also for other...

  • Feb 19- Upscale department store operator Nordstrom Inc reported a lower-than-expected quarterly profit as it spent more on technology upgrades and store expansion, and increased discounts at its Rack brand stores in the holiday shopping season. Nordstrom also forecast a bigger loss for its Canada business in 2015 as it continues its expansion with store...

  • A man walks past an electronic board displaying share prices at the Indonesia Stock Exchange (IDX) in Jakarta, Indonesia, on Thursday, April 10, 2014.

    An Indonesian telecom found a way to restructure its debt over creditor objections: it loaned itself money and counted its own votes toward approval.

  • But investors who have sued PT Bakrie Telecom Tbk and its subsidiaries in New York over a $380 million bond say they were barred from voting on the restructuring. The bond's trustee Bank of New York Mellon said that violated both the terms of the bond contract and the law, without specifying which country's law, according to a letter to Bakrie Telecom seen by...

  • TIMELINE-Indonesia's Bakrie Telecom restructuring process Wednesday, 18 Feb 2015 | 4:00 PM ET

    BACKGROUND Bakrie Telecom Tbk set up a special purpose vehicle- Bakrie Telecom Pte Ltd- to sell a $380 million bond in New York in 2010. The bond matures in May 2015 and bears an 11.5 percent coupon. Bakrie Telecom Tbk guarantees the bond while Bakrie Telecom Pte Ltd lends the proceeds to the listed parent company under an inter-company loan agreement.

  • MOSCOW, Feb 18- Indebted Russian coal and steel producer Mechel has sold its U.S.-based Bluestone coal business back to its original owner, the James Justice family, in an attempt to free up cash to service its debt, Mechel said on Wednesday. Six years ago, Mechel bought the business from the Justice family from West Virginia for $436 million in cash plus preferred...

  • KUALA LUMPUR, Feb 18- Malaysian state fund 1 MDB said it would explore asset sales as well as the sale of development rights in prime property projects as it seeks to cut down on debt- a burden that has put pressure on the ringgit and the country's sovereign credit rating. The strategic review is new CEO Arul Kanda's attempt to make a break with years of controversy...

  • Feb 17- Oilfield services giants Schlumberger Ltd and Halliburton Co and many others in the oil and gas industry have announced plans to lay off thousands of people in the past few months as global oil prices have nearly halved since June. In January, crude prices fell to their lowest in more than five years, hurt by a global supply glut and OPEC's refusal to curtail...

  • NEW YORK, Feb 17- A judge said on Tuesday that if General Motors Co is found to have violated car owners' constitutional rights by hiding ignition-switch defects during its bankruptcy, he would consider narrowing the legal protections afforded the company under its 2009 bankruptcy sale. Judge Robert Gerber, at a hearing in U.S. Bankruptcy Court in Manhattan,...

  • Feb 17- Saladworks LLC, which calls itself the largest U.S. franchised fresh salad chain, filed for bankruptcy on Tuesday to fend off litigation by Commerce Bancorp Inc founder Vernon Hill II, its minority shareholder. Commerce was sold in March 2008 to Toronto-Dominion Bank. Hill in March 2008 invested $7.75 million for a 30 percent equity stake, with founder...

  • Feb 17- Walter Energy Inc forecast a 10 percent drop in sales volume of steel-making coal for 2015 due to sluggish Chinese and European demand, sending its shares down as much as 11 percent. Walter had said in April it would stop production at its Wolverine and Willow Creek mines in British Columbia and temporarily lay off about 700 employees.

  • TORONTO, Feb 17- Restaurant Brands International is not planning further corporate job cuts at its Tim Hortons unit, its chief executive officer said on Tuesday. "We executed our organizational restructuring up front, which really focused on back office, corporate areas where we said we'd see overlap in the business," said CEO Daniel Schwartz.

  • *Telkom shuts retail stores, begins lay-offs. JOHANNESBURG, Feb 16- South Africa's biggest landline provider Telkom SA said on Monday it was laying off an unspecified number of staff, denying union claims that it may slash as many as 55 percent of its 18,000- strong workforce in a major restructuring. Telkom, in which the government owns a stake of about 40 percent,...

  • *Fanuc to spend $844 million on new plant. TOKYO, Feb 16- Japanese industrial robot maker Fanuc Corp on Monday said it would double its planned investment in a new factory, a week after hedge fund Third Point called on the firm to use its cash pile to boost shareholder returns by buying back shares. The cash-rich company said its decision to spend 100 billion yen on...

  • Bankrupt OW Bunker subsidiary owed $329 mln Friday, 13 Feb 2015 | 9:46 AM ET

    SINGAPORE, Feb 13- Dynamic Oil Trading, a subsidiary of bankrupt ship fuel supplier OW Bunker, is owed $329 million and its liquidators said on Friday they are investigating the company's dealings with another Singapore- based marine fuel firm. OW Bunker, once the leading supplier of marine fuel oil with a 7 percent market share, filed for bankruptcy in Denmark in...

  • LONDON, Feb 13- "This is the really crappy part of the job, and this is what I hate about this industry frankly," the chief executive of oilfield services company Baker Hughes complained as he announced it would lay off 7,000 employees. Baker Hughes is cutting jobs in response to slumping prices and a downturn in drilling activity. Halliburton announced it will cut...

  • Feb 12- Standard& Poor's said on Thursday it had downgraded Puerto Rico's general obligation debt by three notches, deeper into junk territory, citing a judge's decision to void the U.S. commonwealth's plan for debt restructuring. The credit ratings agency lowered Puerto Rico's GO debt rating to B from BB, citing the island's potential inability to pay its debts,...

  • Feb 12- The federal judge who oversaw Detroit's historic bankruptcy case ruled on Thursday that the nearly $178 million charged to the city by law firms and consultants for fees and expenses was reasonable. The biggest bill in the biggest-ever U.S. municipal bankruptcy came from law firm Jones Day, which had employed Kevyn Orr before he was tapped by Michigan...

  • Iraqis must be patient on economy, prime minister says Thursday, 12 Feb 2015 | 9:36 AM ET

    BAGHDAD, Feb 12- Iraq's prime minister called on Thursday for "patience" while the government implements economic reforms that include restructuring of many state-owned companies, saying the plan would deliver growth and development. Haider al-Abadi, who took office in September after Islamic State militants seized control of large parts of north and west...