GO
Loading...

Enter multiple symbols separated by commas

Business Events

More

  • Dec 15- Emerson Electric Co said it would sell its power transmission business to Regal Beloit Corp, a maker of electric motors, for $1.44 billion. The deal comprises $1.4 billion in cash and assumption of certain post-retirement liabilities, Emerson said. The unit had revenue of more than $600 million in 2014 and employed more than 3,000 people, the company said.

  • Dec 11- Caesars Entertainment Corp has reached a tentative deal with senior bondholders over a debt restructuring plan for its largest unit, Caesars Entertainment Operating Co, the Wall Street Journal reported, citing people familiar with the matter. The unit has about $18.4 billion in debt, mostly held by hedge funds that buy up debt of troubled companies,...

  • SeaWorld CEO to step down, company to cut jobs Thursday, 11 Dec 2014 | 6:15 PM ET

    SeaWorld did not say how many jobs it would cut, as part of its restructuring plan aimed at saving about $50 million by the end of 2015.. Negative publicity has hurt SeaWorld' s 11 park enterprises, with attendance rising only twice in the last seven quarters. SeaWorld shares closed at $16.09 on the New York Stock Exchange on Thursday.

  • Dec 11- Struggling electronics retailer RadioShack Corp said it expected its cost cutting to save more than $400 million annually but did not say when that would be achieved. RadioShack, which warned of bankruptcy in September, has been trying to turn around its business by closing unprofitable stores. Lenders refused to approve the 1,100 store closures...

  • Dec 10- The change atop United Technologies Corp has set off speculation the U.S. conglomerate may eventually shake up its diverse industrial businesses, including possibly divesting its Sikorsky helicopter unit. Shares of United Technologies have climbed 4 percent since the company announced on Nov. 24 that Chief Financial Officer Greg Hayes replaced...

  • DETROIT, Dec 10- Detroit will officially exit the biggest-ever U.S. municipal bankruptcy later on Wednesday, officials said, allowing Michigan's largest city to start a new chapter with a lighter debt load. The city will reissue $287 million of existing bonds and also borrow about $275 million from Barclays Capital to finance its exit from bankruptcy.

  • *Eneva says creditor protection plan to help preserve cash. *Eneva plan unlikely to hamper E.ON' s EBITDA, net income. SAO PAULO/ FRANKFURT, Dec 10- Eneva SA, the Brazilian power producer controlled by Germany's E.ON SE and tycoon Eike Batista, filed for creditor protection late on Tuesday after failing to refinance part of its 2.33 billion reais in debt.

  • UPDATE 2-BP to spend $1 bln on thousands of job cuts Wednesday, 10 Dec 2014 | 8:41 AM ET

    LONDON, Dec 10- BP will cut thousands of jobs cut across its global oil and gas business by the end of next year in a $1 billion restructuring programme announced on Wednesday following steep falls in oil prices. "Given the recent position taken by OPEC and with oil prices where they are today, we will continue to review this further," BP head of upstream Lamar McKay...

  • LONDON, Dec 10- BP will cut hundreds of jobs cut across its global oil and gas business by the end of next year in a $1 billion restructuring programme announced on Wednesday following steep falls in oil prices. Hundreds of jobs are expected to be cut in BP's main centres in Britain, the United States and elsewhere, sources said. The restructuring charge is part of...

  • *Bankruptcy protection petition will preserve cash- Eneva. SAO PAULO/ FRANKFURT, Dec 10- Eneva SA, the Brazilian power producer controlled by Germany's E.ON SE and Eike Batista, filed for creditor protection late on Tuesday, becoming the latest company founded by the tycoon to seek bankruptcy protection. E.ON gained control of Eneva, formerly MPX Energia SA, last...

  • UPDATE 1-Detroit set to exit bankruptcy on Wednesday Tuesday, 9 Dec 2014 | 4:56 PM ET

    Dec 9- Detroit's odyssey through the biggest-ever U.S. municipal bankruptcy will end on Wednesday when the city's debt adjustment plan will take effect, Michigan Governor Rick Snyder's office said on Tuesday. In a letter, Snyder accepted Detroit Emergency Manager Kevyn Orr's declaration that the city's financial emergency is over and that it was time for his...

  • NEW YORK, Dec 9- Phibro, the storied energy trading firm run by famed oil investor Andrew Hall, is winding down in its current form, laying off some U.S. employees and pursuing a sale of some overseas operations, sources said on Tuesday. The divestment by Occidental Corp, which bought Westport, Connecticut- based Phibro from Citigroup Inc five years ago, will allow Hall...

  • BEIJING, Dec 9- Northern China's Hebei province, the country's dominant steel producing region, is set to move 16 million tonnes of output capacity to the coast in a step aimed at "upgrading" the sector. The Shougang Group- China's biggest steel mill formerly based in Beijing- has already shifted all its production facilities to Hebei's Caofeidian port.

  • Sika execs against Saint-Gobain bid; Shares tank Monday, 8 Dec 2014 | 11:07 AM ET
  • Dec 8- Teen apparel retailer Delia* s Inc filed for Chapter 11 bankruptcy protection and said it had hired advisers to help liquidate its assets. Delia* s said on Monday Salus Capital Partners LLC will give it a $20 million debtor-in-possession credit facility to continue operations, conduct store closings and closeout sales. The case is In re: Delia* s Inc, U.S....

  • Delia*s files for Chapter 11 bankruptcy protection Monday, 8 Dec 2014 | 7:54 AM ET

    Dec 8- Teen apparel retailer Delia* s Inc filed for Chapter 11 bankruptcy protection and said it had hired advisers to help liquidate its assets. The company listed total assets of $74 million and liabilities of $32.2 million in its filing on Sunday with a U.S. bankruptcy court. The company also said Chief Executive Tracy Gardner and Chief Operating Officer Brian...

  • As part of a report to be issued on Monday, the American Bankruptcy Institute's Commission to Study the Reform of Chapter 11 recommended eliminating a rule that at least one impaired creditor class must vote to accept a company's bankruptcy exit plan for the plan to be eligible for court approval. The rule allows savvy investors to block restructuring efforts...

  • Dec 5- Delia* s Inc said it was liquidating assets and would file for Chapter 11 bankruptcy protection "in the very near term," becoming the second teen retailer to go out of business in as many days. Delia* s announcement wiped out more than 85 percent of the company's market value on Friday. Sales at Delia* s, which has 95 mall-based stores, has fallen for six quarters in a...

  • Canary Wharf's Songbird Estates rebuffs raised bid Friday, 5 Dec 2014 | 10:22 AM ET

    The owner of London's Canary Wharf on Friday rebuffed a raised $4.1 billion bid from Qatar and a North American investor.

  • Apparel retailer Delia*s to file for bankruptcy Friday, 5 Dec 2014 | 9:35 AM ET

    Dec 5- Teen apparel and accessories retailer Delia* s Inc said it was liquidating assets and would file for Chapter 11 bankruptcy protection "in the very near term," wiping out more than 85 percent of its market value. New York- based Delia* s, which launched a review of strategic alternatives in September, said it was unable to sell itself or secure financing to allow it...