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
*Barrick Gold to lay off workers. *Keynote Systems to be acquired for $20 per share.
*Combined unit would be second to Vodafone in Ireland. DUBLIN, June 24- Indebted Spanish group Telefonica has agreed to sell its O2 Ireland mobile business for 780 million euros in cash to Hutchison Whampoa's local unit 3 Ireland, it was announced on Monday.
TORONTO, June 21- Sun Life Financial Inc on Friday warned of a likely delay in the sale of its U.S. annuity business because the New York Department of Financial Services has yet to approve the deal.
NEW YORK, June 20- Archer Daniels Midland Co said on Thursday it is in talks to sell its cocoa business in a further sign that the U.S. agribusiness giant is focusing on expanding its footprint in the burgeoning global grains sector.
Houston, June 20- A U.S. regulator on Thursday approved Entergy Corp's plan to spin off the electric transmission business that sparked government concern about competition in its markets.
ST PETERSBURG, June 20- MegaFon, Russia's second largest mobile phone company, may consider buying assets belonging to state-owned mobile firm Rostelecom if the government sells its stake and invites them to bid, its CEO said on Thursday.
June 20- Eastman Kodak Co said on Thursday that it had reached a $895 million financing deal with three Wall Street banks that will help fund its rebirth as commercial imaging business after the former film pioneer emerges from bankruptcy.
June 17- Detroit's default and debt restructuring plan are precedent-setting in the U.S. municipal market, Moody's Investors Service said on Monday, because the city is looking to bondholders, as well as labor unions and pensioners, to share the pain.
Orchard Supply Hardware Stores has filed for Chapter 11 bankruptcy protection, with rival retailer Lowe's Companies set to buy the majority of its assets for $205 million in cash.
*Lowe's to be "stalking horse" bidder. *Lowe's plans to have Orchard operate as a separate business. June 17- Orchard Supply Hardware Stores Corp has filed for Chapter 11 bankruptcy protection, court documents showed on Monday, with rival retailer Lowe's Companies set to buy the majority of its assets for $205 million in cash.
COLUMBIA, Md./ NEW YORK, June 16- A company stuck in bankruptcy for 12 years may not seem like much of a catch, but investors have fallen in love with U.S. specialty chemical manufacturer W.R. Grace& Co and its surging sales to the energy sector.
RIO DE JANEIRO, June 14- Brazil's Banco BTG Pactual SA continued a drive that has snapped up assets in troubled Brazilian resource companies by agreeing to buy 50 percent of an African business owned by state-run oil company Petroleo Brasileiro SA, the companies said on Friday.
June 14- Detroit's emergency manager on Friday said the city, trying to avoid what would be America's biggest municipal bankruptcy, was halting payments to owners of Detroit's unsecured debts.
DETROIT, June 14- Detroit defaulted on some debt on Friday and proposed that creditors take a drastic cut in the money they are owed by the "insolvent" city in order to avoid the largest municipal bankruptcy filing in U.S. history.
DETROIT, June 14- Detroit's creditors will begin to learn on Friday morning what they can recover without driving the financially troubled city into bankruptcy when the city's emergency manager unveils his restructuring plan.
Indian tire manufacturer Apollo Tyres said it plans to buy Cooper Tire & Rubber for about $2.5 billion.
A subsidiary of Warren Buffett's Berkshire Hathaway is buying Nevada's largest electric utility for $5.6 billion in cash.
Title insurer Fidelity National Financial and buyout firm Thomas H. Lee Partners are in advanced talks to acquire mortgage service provider Lender Processing Services.
Even inside JPMorgan Chase, it's a bit of a mystery. Was it the outreach? Or were investors just not that interested in taking power from Dimon?
All attention will be on JPMorgan Chase's Chairman and CEO Jamie Dimon as he takes the stage Tuesday morning during the bank's annual shareholder meeting in Tampa, Florida.