July 29- Amgen Inc on Tuesday said it would cut up to 15 percent of its work force and close plants in a series of moves aimed at reallocating resources as it prepares to introduce new medicines it hopes will drive future growth.» Read More
March 26- Texas power generator Energy Future Holdings Corp is in last-minute talks with creditors to reach a debt-restructuring deal and may consider delaying the filing of its annual report, two sources told Reuters. EFH, formerly TXU Corp, was the largest generator in Texas before a $45 billion buyout in 2007..
March 26- Texas power generator Energy Future Holdings Corp is making a last ditch effort to reach a debt-restructuring deal with creditors before it seeks bankruptcy protection, the Wall Street Journal said, quoting sources familiar with the matter. EFH, formerly TXU Corp, was the largest generator in Texas, before a $45 billion buyout in 2007..
NEW YORK, March 26- Former employees of Spirit Aerosystems Holdings Inc, a major supplier to plane makers Boeing and Airbus, filed charges with federal agencies on Wednesday alleging that Spirit illegally used health care information to target those who were costing the company most for layoffs.
March 26- Global Geophysical Services Inc, a provider of seismic data to oil and gas companies, filed for bankruptcy due to heavy debt and said it was seeking court approval for $60 million in debtor-in-possession financing. The company and some of its units made a Chapter 11 filing in the U.S. Bankruptcy Court in Corpus Christi, Texas.
*Hyundai says to sign deal on Chongqing plant on Thursday. "Considering China's future demand growth outlook, we need to build a new plant to maintain our stable market share of 10 percent in China," Hyundai said in a statement on Wednesday.
*Hyundai seeks to build plant in Chongqing. Group chairman Chung Mong- koo will sign a preliminary deal on Thursday with the government of Chongqing city, where the proposed plant will be located, Hyundai said in a statement.
SEOUL, March 26- Hyundai Motor group chairman Chung Mong- koo plans to sign a preliminary deal on Thursday to build the automaker's fourth auto manufacturing plant in Chongqing, China, the company said.
NEW YORK, March 25- Former customers of Bernard Madoff will have recouped nearly $6 billion of their money if a federal bankruptcy judge approves the latest payout request by the trustee liquidating the swindler's firm.
NEW YORK, March 24- Detroit's emergency manager expects the city's $18 billion bankruptcy plan to win court approval by the fall despite obstacles such as a dispute over swap agreements and a vote by retirees on the plan that could potentially slow or derail the process.
*Hit to Nokia income seen from patent concessions. HELSINKI, March 24- Nokia does not expect to close the sale of its phone business to Microsoft until April as talks with Asian regulators drag on, it said on Monday, fuelling speculation it may have to make technology patent concessions to get the deal done.
*Analysts fear concessions affecting Nokia's patent income. HELSINKI, March 24- Nokia does not expect to close the sale of its phone business to Microsoft until April as talks with Asian regulators drag on, it said on Monday, fuelling speculation it may have to make more concessions to get the deal done.
Oleo e Gas, formerly known as OGX, filed Latin America's largest ever bankruptcy on Oct. 30. OSX gets nearly all of its revenue from Oleo e Gas and its a principal creditor of the company. Both OSX and Oleo e Gas are controlled by Brazilian businessman Eike Batista.
*Raises about $900 mln from sale of 9 pct stake in Axis Bank. MUMBAI/ NEW DELHI, March 21- The Indian government on Friday raised as much as $1.4 billion through share sales, in a push to shore up state finances before it heads into a tough parliamentary election next month.
NEW YORK, March 20- New evidence may emerge in a dispute between LightSquared and its largest creditor, Dish Network Corp Chairman Charles Ergen, that could affect the bankrupt wireless company's restructuring.
March 20- Medical transcription company M* Modal filed for bankruptcy protection on Thursday as the firm owned by J.P. Morgan Chase& Co's private-equity arm seeks to reduce debt.
March 19- Wind turbine parts maker AMSC said it would cut 5-10 percent of its workforce by the end of the year and shut its Middleton plant in Wisconsin, moving the operations to its headquarters in Massachusetts. All of AMSC's Middleton employees are expected to be offered the opportunity to relocate to Massachusetts, the company said.
March 19- Darden Restaurants Inc on Wednesday urged shareholders not to support activist investor Starboard Value LP's proposal for a special meeting to vote on the company's plan to divest its Red Lobster chain. Darden on Dec. 19 announced plans to spin off or sell its 705- restaurant Red Lobster chain.
March 19- Wind turbine parts maker AMSC said it would cut 5-10 percent of its workforce by the end of the year and shut its Middleton plant in Wisconsin, moving the operations to its Massachusetts plant. AMSC said the actions were expected to help the company save about $3 million in costs annually from the fourth quarter of the year ending March 31, 2015.
*Metals brokerage business to stay with JPMorgan, source says. NEW YORK, March 19- JPMorgan is selling its physical commodities business to Mercuria for $3.5 billion, the U.S. investment bank said on Wednesday, sweeping the fast-growing Swiss trading house into the top league of commodities traders.
NEW YORK, March 19- U.S. investment bank JPMorgan has agreed to sell its physical commodities business to Mercuria, sources close to the deal said on Wednesday, catapulting the Swiss trade house into the top tier of commodities traders. JPMorgan in London declined to comment on the matter, while Mercuria could not be reached immediately for comment.