Cerberus struck a $9 billion-plus deal to buy grocery giant Safeway—a tie-up that should be a win for the consumer.» Read More
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 tycoon Eike Batista.
"The issues here are incredibly important not just for Argentina but for the U.S. government and all foreign sovereigns," said Paul Clement, at a briefing on the case at the Argentine embassy in Washington, D.C..
RIYADH/ KHOBAR, Saudi Arabia, Feb 27- Saudi Arabia's government plans to sell a 15 percent stake in National Commercial Bank, the country's largest lender by assets, in an initial public offer that would be the kingdom's first bank IPO since 2008..
AMSTERDAM, Feb 27- Dutch lender Rabobank said net profit dipped 2 percent last year as a $1 billion fine for rigging benchmark interest rates and hefty real estate impairments were only partly offset by the sale of its fund management business.
BOISE, Idaho-- A Boise call center that helps people sign up for health insurance under the Affordable Care Act is laying off 1,600 people _ nearly its entire workforce _ as the federal exchange open-enrollment period ends. Maximus Inc. hired about 1,800 people for the Boise facility last year.
Feb 26- General Electric Co said it would pay $1.7 billion to Japan's Shinsei Bank Ltd to end exposure to interest repayment claims related to the sale of its Japanese consumer loan business to the bank in 2008.. GE said on Wednesday the deal would reduce fourth-quarter and 2013 earnings by $1 billion and earnings per share by 9 cents.
Feb 25- Oilfield services provider Weatherford International Ltd said it would divest five businesses, exit another as it struggles with weak demand in North America, and has identified 6,192 positions for job cuts as part of a previously announced plan.
Feb 25- Oilfield services provider Weatherford International Ltd said it would divest five businesses, exit another and lay off 6192 employees as it struggles with weak demand in North America. The company, which is being probed for violations of the United Nations oil-for-food program in Iraq, on Tuesday also reported a wider quarterly net loss.
Feb 24- Retirees, unions and others opposed to Detroit's financial restructuring plan will have a chance to argue their case at a trial starting in mid-June, according to an order on Monday by the judge overseeing the case. Detroit and its creditors have until Friday to file objections to U.S.
Feb 24- Debt-laden Chinese solar company LDK Solar Co Ltd said it filed an application for provisional liquidation in the Cayman Islands. LDK Solar, incorporated in the Cayman Islands, said it has made "considerable progress" in its discussions with key offshore creditors.
*G Asset Management offers to buy stake in Barnes& Noble or Nook. *Groupon shares drop after company forecasts loss. NEW YORK, Feb 21- U.S. stocks slipped on Friday on options-related trading, with the S&P 500 facing resistance as it flirts with its record high even as economic data continues to underwhelm.
HUNTSVILLE, Ala., Feb 21- Sikorsky Aircraft, the helicopter unit of United Technologies Corp, on Friday said it would lay off 600 workers beginning in the next few weeks, citing continued "challenging and unstable economic conditions."
Feb 21- Detroit's much-anticipated blueprint for dealing with $18 billion in debt and emerging from municipal bankruptcy requires cuts to worker pensions and even deeper cuts for bondholders, according to a plan the city filed in federal court on Friday.
NEW YORK, Feb 21- Investment firm G Asset Management said on Friday that it had offered to buy a 51 percent stake in either Barnes& Noble Inc or in the bookseller's Nook digital business. The little known firm said the proposal for Barnes& Noble as a whole would be for $22 per share, which would value the top U.S. bookstore chain at $1.32 billion.
*G Asset Management offers to buy Barnes& Noble or Nook stake. *Groupon shares tumble after forecasting loss. NEW YORK, Feb 21- U.S. stocks were little changed on Friday, with the S&P 500 facing resistance as it flirts with its record high, as company news dominated trading amid another soft reading on the economy.
NEW YORK, Feb 21- Investment firm G Asset Management said on Friday that it had offered to take a 51 percent stake in either Barnes& Noble Inc or in the bookseller's Nook digital books and device business. G Asset said the proposal for Barnes& Noble as a whole would be for $22 per share, while the offer for Nook would be for $5 per share.
"Upon consideration of the petitions to appeal and the responses thereto, a direct appeal to this court is warranted," the 6th U.S. Circuit Court of Appeals in Cincinnati said in an order filed on Friday. A federal bankruptcy judge in a landmark December ruling said Detroit was eligible to pursue its bankruptcy case.
NEW YORK, Feb 21- A U.S. appeals court on Friday said it would hear appeals by seven groups of petitioners, including pension plans for Detroit's police and firefighters, of the city's eligibility for bankruptcy.
*Job cuts include planned Citizens sale, UK branch sales. LONDON, Feb 21- Royal Bank of Scotland is to shrink its investment banking and international operations as part of a revamp in which the group could shed up to a quarter of its 120,000 workforce, sources familiar with the matter said on Friday.
*Job cuts include planned Citizens sale, UK branch sales. LONDON, Feb 21- Royal Bank of Scotland is to shrink its investment banking and international operations in a revamp in which the group could shed up to a quarter of its 120,000 workforce, sources familiar with the matter said.