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  • LONDON, March 20- Greek government bond yields fell on Friday, after Prime Minister Alexis Tsipras assured European Union creditors that he would soon present a full set of economic reforms to unlock cash and stave off bankruptcy. The joint statement by the EU institutions spoke of a "spirit of mutual trust," but German Chancellor Angela Merkel stressed no money...

  • LAS VEGAS— No one said it was going to be easy, and the bankruptcy of Caesars Entertainment's debt-heavy operations arm has been anything but as it appears to be growing even more complex and lengthier than expected. With some $18 billion in debt and tens of thousands of employees scattered around some 38 hotels and casinos, Caesars Entertainment Operating Co....

  • March 19- Canada's Bank of Nova Scotia sued Cliffs Natural Resources Inc, saying the U.S. iron ore miner had breached terms of a loan agreement when it filed for creditor protection for its Canadian operations. Cliffs in January stopped production at its Bloom Lake mine in Quebec, where costs exceeded expectations, and started restructuring the Canadian...

  • DUBLIN, March 19- Irish cement firm CRH is assuming the merger of rivals Lafarge and Holcim will still happen, its chief said after CRH shareholders approved an asset purchase that depends on the deal. CRH has agreed to buy a number of mostly European assets from Lafarge and Holcim for 6.5 billion euros so the French and Swiss firms can get antitrust clearance for...

  • DUBLIN, March 19- Irish cement firm CRH is working on the basis that the troubled merger of industry giants Lafarge and Holcim will happen, its chief executive said as his shareholders approved asset purchases that depends on it. CRH has agreed to buy a chunk of European assets from the pairing to help Lafarge and Holcim get antitrust clearance for the creation of...

  • *Restructuring costs to total over 200 bln yen- source. TOKYO, March 19- Japan's loss-making Sharp Corp intends to cut 12 percent of its workforce in a global restructuring expected to cost more than $1.7 billion, a person familiar with the plan said on Thursday. The job cuts will total around 6,000, half of which would come in Japan through early retirement while...

  • March 18- Sharp Corp is cutting more than 10 percent of its Japanese workforce starting in April, according to a Nikkei report. The embattled electronics manufacturer will slash about 3,000 jobs through voluntary retirements and expects to book about 30 billion yen in retirement-related expenses for 2015, the business daily said. The company could also cut...

  • MONTERREY, March 18- Wal-Mart de Mexico, the country's biggest retailer, will expand more slowly this year, and instead focus on making sure new stores generate more money, Chief financial Officer Rafael Matute said on Wednesday. Walmex, which is controlled by Wal-Mart Stores Inc, opened 132 outlets last year, and expanded its total shop floor area by 3.9 percent,...

  • New Mexico regulators hear from public about power plant Wednesday, 18 Mar 2015 | 2:54 PM ET

    ALBUQUERQUE, N.M.— New Mexico regulators on Wednesday listened to dozens of supporters and critics of a plan to shutter half of an aging coal-fired power plant that supplies electricity to more than 2 million people in the Southwest. More than 11,000 letters and emails have been submitted to the state Public Regulation Commission, and more public meetings are...

  • Ocwen to sell $9.6 billion in mortgage-servicing rights Wednesday, 18 Mar 2015 | 2:22 PM ET

    NEW YORK— Ocwen said Wednesday that it will sell the mortgage-servicing rights of $9.6 billion worth of loans to a unit of Walter Investment Management. Atlanta- based Ocwen recently reached settlements with regulators in New York and California. Shares of Ocwen Financial Corp. slipped 24 cents, or 2.7 percent, to $8.75 in afternoon trading Wednesday.

  • NEW YORK, March 18- Bankrupt wireless venture LightSquared has filed a new restructuring plan that would pay the full $1.5 billion claim of its largest creditor, Dish Network Corp Chairman Charles Ergen, in cash, with interest. The plan, filed late on Tuesday and outlined on Wednesday morning in court papers in U.S. Bankruptcy Court in Manhattan, depends on $1.515...

  • MUNSTER, Ind.— Top executives from the bankrupt operator of the Indiana Toll Road will split $2.45 million in bonuses once an Australian company closes on a $5.72 billion deal to buy the lease-holding business. ITR Concession Co. CEO Fernando Redondo and four other company executives will share the bonus money when IFM Investors completes its purchase of the...

  • COLUMN-U.S. student borrowers need relief in bankruptcy Wednesday, 18 Mar 2015 | 8:00 AM ET

    LOS ANGELES, March 18- Two changes to the U.S. consumer bankruptcy process could help some of the most trapped student loan borrowers free themselves from a modern-day debtors' prison. President Barack Obama last week directed three U.S. government agencies- the Department of the Treasury and Education as well as the Consumer Financial Protection Bureau- to...

  • General Mills completes plan to cut about 800 jobs Wednesday, 18 Mar 2015 | 7:06 AM ET

    MINNEAPOLIS— General Mills says that it has completed a plan to eliminate about 800 positions. General Mills said that the previously announced job cuts, which were mostly in the U.S., were part of a restructuring plan called Project Catalyst that was approved during its fiscal second quarter. As part of that plan, General Mills is reducing its refrigerated dough...

  • March 18- Casino company Caesars Entertainment Corp, whose operating unit is in bankruptcy, warned on Monday that the litigation stemming from its restructuring efforts could hamper its ability to continue operating as a going concern. Creditors have brought numerous lawsuits alleging fraud over transfers of assets out of the operating unit, Caesars...

  • Nissan to build $160M supplier park at Tennessee plant Tuesday, 17 Mar 2015 | 5:09 PM ET

    "Nissan has continued to invest in Tennessee because you have created a business environment that encourages growth and innovation," Munoz said at a ceremony at the state Capitol. Bill Haslam noted that Nissan has more than 12,000 Nissan employees between its Smyrna complex and an engine plant in Decherd. Nissan's year to date market share was 9.3 percent at the...

  • CALGARY, Alberta, March 17- Nexen Energy, a wholly owned subsidiary of China's CNOOC Ltd, said on Tuesday it will cut about 400 jobs in North America and the United Kingdom in response to plunging global oil prices. Nexen, which was bought by state-controlled CNOOC in 2013 for $15.1 billion, has begun to cut some 340 employees in North America, and started...

  • NEW YORK, March 17- Cerberus Capital Management and Solus Alternative Asset Management on Tuesday proposed a new plan to restructure bankrupt wireless venture LightSquared, with the support of billionaire Charles Ergen, LightSquared's largest lender. The plan is designed to compete with a LightSquared-backed one whose fairness is the subject of an...

  • CALGARY, Alberta, March 17- Nexen Energy, a wholly owned subsidiary of China's CNOOC Ltd, said on Tuesday it will cut about 400 jobs in North America and the United Kingdom in response to plunging global oil prices. Nexen, which was bought by state-controlled CNOOC in 2013 for $15.1 billion, will cut approximately 340 employees in North America and 60 at its UK...

  • House Republicans take aim at Dodd-Frank in budget plan Tuesday, 17 Mar 2015 | 11:20 AM ET

    WASHINGTON, March 17- Republican lawmakers took aim at the Dodd-Frank Wall Street reform law Tuesday, unveiling a plan that would gut regulators' authority to manage the collapse of big banks and give Congress direct control of the U.S. consumer finance bureau's budget. The proposal, led by House Budget Committee Chairman Tom Price, pledges to make "great strides...