Business Events


  • *ThyssenKrupp says in exclusive talks to sell its U.S. plant. FRANKFURT, Nov 19- German steelmaker ThyssenKrupp pushed back the publication of its annual financial results as talks to sell a steel plant in the United States entered the home stretch.

  • HELSINKI, Nov 19- Nokia shareholders approved the 5.4 billion euros sale of the company's mobile phone business to Microsoft, deciding the deal's financial benefits outweighed any objections to the loss of a Finnish national asset.

  • HELSINKI, Nov 19- Nokia shareholders are expected to approve the sale of its mobile phone business to Microsoft on Tuesday, with the deal's financial benefits likely to outweigh resistance from a minority of investors upset over the sale of a Finnish national icon.

  • NEW YORK/ LONDON Nov 18- Goldman Sachs plans to resume talks with parties interested in buying its metals warehousing business now that new exchange rules have been released, a source familiar with the matter said on Monday.

  • Caterpillar to close another mining equipment plant Friday, 15 Nov 2013 | 5:56 PM ET

    CHICAGO, Nov 15- Caterpillar Inc said on Friday that it will close another plant and lay off 240 additional workers as it continues to respond to a sharp drop in demand for its earth-moving products from customers in the mining industry.

  • Chief Executive Mike Perlis, in a memo to employees on Friday, said the company had hired Deutsche Bank to explore a sale of the company founded by financial newspaper columnist B.C. Forbes in 1917..

  • Nov 15- Residential Capital LLC, a bankrupt mortgage lender, won a court ruling on Friday that it does not owe approximately $340 million in interest claimed by junior secured noteholders. Bankruptcy Judge Martin Glenn also criticized the legal tactics of the noteholders, who are virtually alone in opposing that plan.

  • Kodak bankruptcy advisers likely to see $240 mln payday Thursday, 14 Nov 2013 | 5:49 PM ET

    NEW YORK, Nov 14- A lawyer tasked with reviewing advisers' fees in Eastman Kodak Co's bankruptcy on Thursday gave his blessing to more than $240 million in bills, priming them for court approval next week. In large cases like Kodak's, judges often tap examiners to pore over the bills and offer recommendations as to whether they are reasonable.

  • DETROIT, Nov 14- Detroit must disclose the fee structure of a $350 million debtor-in-possession financing agreement, U.S. Detroit reached the loan agreement with Barclays, a unit of Britain's Barclay's Plc, in October, but the deal still must be approved by Judge Rhodes.

  • *Has not got big enough offer to agree to deal- Compuware CEO. Nov 14- Compuware Corp should consider an immediate sale or a new restructuring plan, activist investor Starboard Value LP said in a letter to the business software maker on Thursday.

  • ATLANTA, Nov 14- Lockheed Martin Corp, the world's largest defense contractor, said on Thursday it plans to slash 4,000 jobs and shutter plants in several states to reduce costs in the face of declining U.S. defense spending.

  • Nov 14- Activist investor Starboard Value LP asked business software maker Compuware Corp to consider an immediate sale or implement a new restructuring plan. Starboard, one of Compuware's largest shareholders with a stake of just under 5 percent, detailed the actions it wants the company to take in the restructuring plan.

  • *Mechel in talks with banks on debt restructuring. MOSCOW, Nov 14- Russia's central bank ruled on Thursday that nearly $2 billion in rouble bonds issued by mining group Mechel are effectively worthless, deepening the company's debt crisis a day after its shares slumped to an all-time low.

  • Nov 13- Shares of YRC Worldwide Inc lost a quarter of their value, as the trucking company struggled with the implementation of operational changes designed to help reduce its large debt.

  • BRASILIA/ BEIJING, Nov 13- Brazil's state-run oil company Petrobras has struck a deal to sell its Peruvian oil and gas assets to PetroChina, China's top oil and gas firm, and its parent China National Petroleum Corp for $2.6 billion. "The three target blocks are all quality oil properties in Peru with achievable profit potential," PetroChina added.

  • BEIJING, Nov 13- PetroChina, China's top oil and gas firm, has struck a deal to acquire the Peruvian oil and gas assets of Brazilian state-led oil company Petrobras for $2.6 billion. "The three target blocks are all quality oil properties in Peru with achievable profit potential," PetroChina added.

  • Bangladesh garment factories close amid violent protests Wednesday, 13 Nov 2013 | 4:15 AM ET

    DHAKA, Nov 13- Violent protests shuttered some 250 Bangladesh garment factories near the capital Dhaka on Wednesday, as thousands of workers demanded higher wages at the outlets providing cheap clothing for retailers such as Wal-Mart Stores Inc..

  • Nov 12- Global Aviation Holdings Inc may not be a household name, but it should be familiar to bankruptcy lawyers. Global Aviation or previous incarnations filed bankruptcies in 2004 and 2006 in the Southern District of Indiana and last year in the Eastern District of New York.

  • Nov 12- Eastman Kodak Co, the once mighty photography pioneer that emerged from bankruptcy protection in September, reported a quarterly loss of $155 million after stripping off reorganization items and discontinued operations. Kodak said it adopted fresh-start accounting and provided separate figures for the month, which was a loss of $18 million.

  • By Agnieszka Flak and Cyril Altmeyer. MILAN/ PARIS, Nov 12- Cash-strapped Italian airline Alitalia is planning the first mass firing since its 2008 privatisation to cut costs, but a source said it was unlikely to go far enough to persuade top shareholder Air France-KLM to rescue it in a cash call.

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