GO
Loading...

Business Events

More

  • JAKARTA, Oct 31- Indonesia's mining-to-telecoms conglomerate Bakrie Group will negotiate with creditors to restructure part of its $8 billion in debt rather than sell major assets, people familiar with its strategy say. Some creditors sued one Bakrie company in New York while a Jakarta supplier has asked an Indonesian court to supervise a debt...

  • Oct 30- A major RadioShack Corp lender is attempting to buy a bigger part of the electronic retailer's debt in exchange for backing the company's store-closing plan, Bloomberg reported, citing people familiar with the matter. Salus Capital Partners LLC is seeking to buy as much as $465 million of the $585 million of loans arranged for affiliates of...

  • NEW YORK, Oct 30- A large group of creditors of MF Global Holdings Ltd's bankrupt brokerage unit will soon receive their first payout, as $518.7 million of checks start to be mailed out on Friday, the third anniversary of the company's Chapter 11 filing. James Giddens, the trustee liquidating the MF Global Inc brokerage unit, on Thursday said the payout to unsecured...

  • HELSINKI, Oct 30- Finnish mining technology company Outotec reported a lower-than-expected third-quarter profit on Thursday and said it would cut jobs because low metal prices and the Ebola epidemic in resource-rich Africa were affecting its business. The disappointing third-quarter performance prompted the company to trim its full-year revenue...

  • Oct 30- ConocoPhillips, the largest U.S. independent oil company, reported higher third-quarter profit on Thursday, lifted by the sale of its Nigerian business. Profit rose to $2.7 billion, or $2.17 per share, from $2.5 billion, or $2.00 per share, in the 2013 third quarter. Surmont is an oil sands project in Canada and APLNG is a liquefied natural gas project in...

  • Bombardier profit nearly halves on charge for job cuts Thursday, 30 Oct 2014 | 6:12 AM ET

    Oct 30- Canadian plane and train maker Bombardier Inc's quarterly profit dropped nearly 50 percent as it took a $120 million charge related to previously announced job cuts. The Montreal- based company's net income fell to $74 million, or 3 cents per share, in the quarter ended Sept. 30, from $147 million, or 8 cents per share, a year earlier. Revenue rose nearly 21...

  • Oct 29- Dow Jones& Co Inc, publisher of the Wall Street Journal, has asked a court to deny a request by Apple Inc and GT Advanced Technology Inc to keep under seal some documents relating to GT Advanced's bankruptcy. GT Advanced, which supplied sapphire material to Apple to make smartphone screens, filed for Chapter 11 protection earlier this month and refused to...

  • Oct 29- Dow Jones& Co Inc, publisher of the Wall Street Journal, has asked a court to deny a request by Apple Inc and GT Advanced Technology Inc to keep under seal some documents relating to GT Advanced's bankruptcy. GT Advanced, which supplied sapphire material to Apple to make smartphone screens, filed for Chapter 11 protection earlier this month under mysterious...

  • DETROIT, Oct 27- Detroit on Monday wrapped up its historic bankruptcy case, which began with contentious opposition from creditors and ended with eleventh-hour deals enabling the city to shed $7 billion of its $18 billion of debt and obligations. Bankruptcy Judge Steven Rhodes that he should permit Detroit to emerge from bankruptcy before Thanksgiving.

  • HOUSTON, Oct 27- Venezuela's surprise move to scrap the sale of its U.S. refining unit Citgo was prompted when bids came in well below its $10 billion asking price, and sovereign and corporate bondholders criticized selling a reliable source of cash during a liquidity crunch, a source familiar with the situation said on Monday. State oil company PDVSA had hired...

  • UPDATE 1-P&G to exit Duracell battery business Friday, 24 Oct 2014 | 8:08 AM ET

    Oct 24- Procter& Gamble Co said it would exit its Duracell battery business, likely through a splitoff into a separate company, as it looks to focus on faster-growing brands. The household products maker also said on Friday that it had agreed to sell its interest in a China- based battery joint venture for an undisclosed amount. P&G said in September that it would...

  • Oct 23- Apple Inc said on Thursday it is studying options for sapphire supply and might work again with GT Advanced Technologies Inc if the distressed supplier can reduce production costs for the scratch-resistant material. GT, a former stock market darling and supplier to Apple, filed for bankruptcy on Oct 6 in a stunning turn of events for a company whose...

  • BRASILIA, Oct 22- A Brazilian court has approved a bankruptcy protection petition filed by MMX Sudeste Mineracao SA, an iron-ore mining company controlled by Brazilian tycoon Eike Batista, the company said on Wednesday in a securities filing. The decision was taken by a court in Belo Horizonte in the Minas Gerais state. MMX Sudeste holds nearly all the...

  • Oct 22- Texas tycoon Sam Wyly, who filed for bankruptcy this week, is trying to exhaust his fortune through exorbitant spending to impede the U.S. Securities and Exchange Commission's collection of a $198.1 million fraud claim against him, the regulator told a U.S. judge on Wednesday. During a hearing in Dallas bankruptcy court, a lawyer for the SEC criticized...

  • DETROIT, Oct 22- Detroit's relatively fast move through municipal bankruptcy has resulted in costly creditor settlements and too little emphasis on fixing the city's broken operations, a restructuring expert testified in U.S. Bankruptcy Court on Wednesday. Still, Martha Kopacz, who was appointed by Judge Steven Rhodes to assess the viability of Detroit's...

  • Oct 21- Apple and GT Advanced Technologies Inc struck an agreement on Tuesday that will let GT begin the shutdown of key Arizona operations, and shed some more light on why the former stock market darling abruptly filed for bankruptcy this month. A lawyer for GT, Apple's erstwhile sapphire supplier, described the deal at a hearing in U.S. Bankruptcy Court in...

  • Oct 21- Apple Inc and GT Advanced Technologies Inc have struck an agreement to shutter a key Arizona factory and allow the Apple supplier to explain the circumstances leading up to its abrupt bankruptcy filing, a lawyer for GT told a court on Tuesday. Scant details have emerged since GT Advanced, which was to have been a major supplier of scratch-resistant...

  • DETROIT, Oct 21- The U.S. judge overseeing Detroit's historic bankruptcy dropped hints on Tuesday on what he wants to hear in the city's closing statements and what he may be scrutinizing in creditor settlements. "We are getting finality and stability going forward," state-appointed Emergency Manager Kevyn Orr told U.S. Bankruptcy Court Judge Steven Rhodes,...

  • Oct 21- A lawyer for GT Advanced Technologies Inc, a specialty glass supplier of Apple Inc, told a bankruptcy court on Tuesday the company was close to a settlement with the iPhone maker over access to information. Scant details have emerged since GT Advanced filed for bankruptcy on Oct. 6, wiping out most of its market value and triggering speculation as to what may...

  • DETROIT, Oct 21- The federal judge overseeing Detroit's historic bankruptcy case wants the city to explain its settlements with creditors and its exit financing in closing arguments next week, he said on Tuesday. Detroit Mayor Mike Duggan had raised concerns about the financing for the city's bankruptcy exit when he testified earlier this month, as well as the...