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  • Aveo Oncology to cut two-thirds of workforce Wednesday, 7 Jan 2015 | 7:05 AM ET

    Jan 7- Aveo Oncology said its plans to cut two-thirds of its workforce, or 40 positions, as a part of a restructuring that includes the departure of Chief Scientific Officer Jeno Gyuris.

  • Friendly's franchisee J&B files for bankruptcy protection Wednesday, 7 Jan 2015 | 12:08 AM ET

    Jan 6- Friendly's franchisee J&B Restaurant Partners of Long Island II LLC and certain affiliates filed for Chapter 11 bankruptcy protection on Tuesday as part of a pre-negotiated restructuring plan. The owner of 37 Friendly's restaurants in New York, New Jersey and Connecticut expects to exit bankruptcy over the next six months and to remodel at least 11...

  • Jan 6- United States Steel Corp said it would temporarily idle its pipe manufacturing plant in Lorain, Ohio and lay off 614 workers, largely due to weak demand from the oil industry. Canada's Crescent Point Energy Corp, for example, said on Tuesday it would cut its spending by about 28 percent in 2015.. Oil service companies Schlumberger Ltd and Civeo Corp have also...

  • U.S. Steel to idle Ohio pipe plant as oil prices drop Tuesday, 6 Jan 2015 | 11:32 AM ET

    Jan 6- United States Steel Corp said it would temporarily idle its pipe manufacturing plant in Lorain, Ohio and lay off 614 workers, largely due to weak demand from the oil industry. The layoffs will begin in early March, a spokeswoman said. The Wall Street Journal first reported the impending layoffs earlier on Tuesday.

  • LONDON, Jan 5- New Tesco boss Dave Lewis is expected to focus on cost cuts and asset sales when he provides an update on his plans to revive the troubled British grocer's fortunes on Thursday. Britain's biggest retailer, reeling from an accounting scandal and four profit warnings that halved its share price last year, could also detail substantial property asset...

  • Aereo auctioning off its TV streaming tech assets Friday, 26 Dec 2014 | 5:39 PM ET
    Aereo CEO Chet Kanojia leaves the U.S. Supreme Court after oral arguments April 22, 2014 in Washington, DC.

    A bankruptcy court has allowed defunct video streaming company Aereo Inc to auction its TV streaming technology assets, court papers show.

  • Dec 26- A bankruptcy court has allowed defunct video streaming company Aereo Inc to auction its TV streaming technology assets, according to court papers published on Friday. These broadcasters include CBS Corp, Comcast Corp's NBC, Walt Disney Co's ABC and Twenty-First Century Fox Inc's Fox. The case is In re: Aereo Inc, U.S. Bankruptcy Court, Southern District of...

  • Dec 23- Germany's HeidelbergCement AG is negotiating to sell Hanson Building Products Ltd, a maker of concrete and clay building products, to private equity firm Lone Star Funds, according to people familiar with the matter. HeidelbergCement is weighing a sale to Lone Star as a way to shed the non-core unit more quickly than through an initial public offering,...

  • NEW YORK, Dec 23- Patent risk management company RPX Corp on Tuesday announced a $900 million deal to buy most of the patents owned by Rockstar Consortium, formed by Apple Inc. and other major technology firms in 2011 following the bankruptcy of Nortel Network Corp.. The consortium last year also sued several handset manufacturers whose phones operate on...

  • Dec 22- Goldman Sachs Group Inc has sold its controversial metals warehousing business to Swiss private equity group Reuben Brothers, the Wall Street bank said on Monday. Reuben Brothers has a history in steel and iron ore investments through its metal trading company Metalloyd. In April, the firm sold its stake in Erus Metals, a small warehousing company based...

  • Dec 19- Caesars Entertainment Operating Co, the main operating unit of Caesars Entertainment Corp, said it would file for Chapter 11 bankruptcy protection by mid-next month to cut its burgeoning debt. Other units, including Caesars Entertainment, Caesars Entertainment Resort Properties and Caesars Growth Partners, will not be part of the court-supervised...

  • Dec 19- Caesars Entertainment Operating Co, the main operating unit of Caesars Entertainment Corp, said it would file for Chapter 11 bankruptcy protection by mid-next month as it tries to cut its burgeoning debt.

  • MEXICO CITY, Dec 19- Mexico's state oil company Pemex is renegotiating service contracts worth hundreds of millions of dollars in a drive to cut costs as it grapples with falling crude prices, its chief executive said. Mexico's main crude export mix is worth even less, trading around $51 a barrel on Friday, while Pemex's average production costs are about $22 per...

  • Dec 19- Binder& Binder, one of the largest social security disability firms in the United States, filed for Chapter 11 bankruptcy protection late on Thursday, court filings showed. U.S. Bank National Association and Capital One have agreed to provide debtor-in-possession financing of up to $26 million, the filings showed. The case is in the U.S. Bankruptcy Court...

  • *Allianz sells Fireman's Fund personal lines to ACE Ltd.. FRANKFURT, Dec 18- German insurer Allianz on Thursday said it had agreed to sell its Fireman's Fund personal insurance business to insurer ACE for $365 million, freeing Allianz to focus on building its U.S. property and casualty operations. The deal clears up one of two problem areas for Allianz in the...

  • UPDATE 1-Jefferies in talks to sell futures business Tuesday, 16 Dec 2014 | 9:33 AM ET

    Dec 16- Investment bank Jefferies Group LLC, owned by Leucadia National Corp, reported a quarterly net loss and said it was in talks to sell its futures brokerage. Jefferies bought the business, formerly known as Prudential Bache, from Prudential Financial Inc in 2011 for $430 million to expand into a full-fledged investment bank. Leucadia, which models itself on...

  • LONDON, Dec 16- InterContinental Hotels Group, one of the world's largest hoteliers, has agreed to buy U.S.-focused Kimpton Hotels& Restaurants for $430 million to boost its exposure to the faster-growing boutique hotel sector. IHG, home to the Crowne Plaza, Holiday Inn and InterContinenal brands, said on Tuesday that the cash acquisition would be earnings...

  • LONDON, Dec 16- InterContinental Hotels Group, one of the world's largest hoteliers, said it had agreed to acquire U.S.-focused Kimpton Hotels& Restaurants for $430 million to boost its exposure to the boutique hotel space. IHG, home to the Crowne Plaza, Holiday Inn and InterContinenal brands, said on Tuesday that the cash acquisition would be earnings enhancing...

  • HONG KONG/ SINGAPORE, Dec 16- Standard Chartered is selling its Hong Kong and Shenzhen consumer finance businesses to a consortium that includes a Chinese state firm, helping the emerging markets-focused lender to clinch its biggest asset disposal as part of a restructuring. In what is expected to be the first of many divestitures, Standard Chartered has...

  • Dec 15- GT Advanced Technologies Inc altered its settlement with former partner Apple Inc to produce more near-term cash to support its emergence from bankruptcy, a lawyer for the sapphire maker told a court on Monday. The new terms should be worth $50 million more than the original settlement, according to an attorney for GT noteholders, providing financing...