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  • CME Group to cut 5 percent of global workforce Tuesday, 14 Oct 2014 | 11:23 AM ET

    CHICAGO, Oct 14- CME Group Inc plans to cut 5 percent of its global workforce, or about 150 jobs, the world's largest futures exchange operator said on Tuesday. Most of the layoffs will come from CME's technology operations, with the rest coming from corporate and administration functions, the Chicago- based company said. CME, which owns the Chicago Board of Trade and...

  • BARI, Italy Oct 14- Italian magistrates have ordered Merrill Lynch and two of its former employees to stand trial over a regional government's losses from a 870 million euro bond, investigative and legal sources told Reuters on Tuesday. The case relates to bonds issued by the Apulia region in 2003-2004 in a restructuring of its health sector debt through...

  • CME Group eliminating about 150 jobs Tuesday, 14 Oct 2014 | 9:46 AM ET

    CHICAGO— CME Group said Tuesday that it is eliminating approximately 150 jobs— or about 5 percent of its global workforce— as part of restructuring efforts. The parent company of the Chicago Board of Trade and other exchanges said that most of the job cuts will come from technology, with the rest from corporate and administrative functions.

  • Top US, UK regulators do exercise on bank failure Monday, 13 Oct 2014 | 1:44 PM ET

    WASHINGTON— Top U.S. and British bank regulators, including Federal Reserve Chair Janet Yellen, have taken part in an exercise to see how they would handle the failure of a large multinational bank and communicate with each other. Treasury Secretary Jack Lew, U.K. Chancellor of the Exchequer George Osborne and Bank of England Governor Mark Carney.

  • ALCO seeks Chapter 11 bankruptcy reorganization Monday, 13 Oct 2014 | 12:38 PM ET

    NEW YORK— Small-town discount retailer ALCO Stores filed for Chapter 11 bankruptcy protection on Sunday, but says it plans to stay in business while it reorganizes. The company filed for bankruptcy in the U.S. Bankruptcy Court for the Northern District of Texas, and said it had $222 million in assets and $162 million in liabilities in July. ALCO said Wells Fargo...

  • Texas discount chain Alco Stores files for bankruptcy Monday, 13 Oct 2014 | 10:10 AM ET

    Oct 13- Texas- based discounter Alco Stores Inc filed for bankruptcy, joining the list of smaller U.S. retailers seeking protection from creditors. Alco said it had an initial, or "stalking horse," bid from a joint venture including Tiger Capital Group LLC, SB Capital Group LLC and Great American Group WF LLC. As of July, the company listed assets of $221.8 million and...

  • NEW YORK, Oct 12- Roger Dean Gillispie, a former General Motors security guard, spent 20 years in an Ohio prison for rape until a federal court ordered him released in 2011. Now he wants to sue GM for allegedly helping to frame him, and he's getting support from an unlikely source: hedge funds. Gillispie, who is waiting to see if he will face a new criminal trial, has...

  • Oct 10- GT Advanced Technologies Inc said it will cut 890 jobs, close an Arizona plant expected to make scratch-resistant screens for Apple Inc, and suggested it could pursue legal claims against the iPhone maker while revamping under bankruptcy. "GT believes that it has many claims against Apple arising out of its business relationship with Apple," the company...

  • New methanol plant planned for Plaquemines Parish Friday, 10 Oct 2014 | 3:12 PM ET

    BELLE CHASSE, La.— State officials have announced that Castleton Commodities International LLC plans a $1.2 billion methanol manufacturing plant in Plaquemines Parish. Castleton expects to begin construction in 2016. The plant is planned for the Braithwaite area along the Mississippi River. "The project location situated along the Mississippi River near...

  • Oct 10- GT Advanced Technologies Inc said it will cut 890 jobs, close an Arizona plant expected to make scratch-resistant screens for Apple Inc, and suggested it could pursue legal claims against the iPhone maker while revamping under bankruptcy. "GT believes that it has many claims against Apple arising out of its business relationship with Apple," the company...

  • iPhone glass maker wants to shut down Mesa factory Friday, 10 Oct 2014 | 1:53 PM ET

    PHOENIX— A manufacturer of sapphire glass that Apple Inc. uses in iPhones told a bankruptcy court Friday that it wants to shut down a Mesa factory that was once touted as a big job creator for Arizona. In a bankruptcy court filing Friday, the company outlined its plans to wind down operations at the Mesa factory by the end of the year along with a second facility in...

  • BERLIN, Oct 10- Airbus took a step on Friday towards opening a second plant in China by signing a letter of intent with Chinese authorities to set up a cabin completion centre for its wide-body A330 jets. "We believe there is a big market for A330s, especially for domestic use in China because of airport congestion," Fabrice Bregier, chief executive of the main...

  • Oct 10- Blackstone Group LP said it would spin off its M&A, restructuring and private equity fundraising advisory businesses to avoid conflicts, combining them with the advisory firm of Morgan Stanley investment banking veteran Paul Taubman. Blackstone's advisory businesses being spun out account for a tiny fraction of the New York firm's earnings,...

  • Oct 10- Blackstone Group LP said on Friday it would spin off its M&A, restructuring and private equity fundraising advisory businesses and combine them with the financial advisory firm of Morgan Stanley veteran Paul Taubman, in a move to avoid conflicts. Taubman, who left Morgan Stanley in 2012, has been behind some of the biggest deals of the past few years,...

  • Blackstone to spin off financial advisory services Friday, 10 Oct 2014 | 8:49 AM ET

    NEW YORK— Blackstone Group is spinning off its financial advisory business and combining it with financial advisory firm PJT Partners. The investment firm will also spin off its restructuring and reorganization advisory services group and its Park Hill fund placement businesses to PJT. Shares of Blackstone Group LP, based in New York, declined 62 cents, or 2...

  • MANCHESTER, N.H., Oct 9- GT Advanced Technologies Inc on Thursday revealed it intends to wind down sapphire production, cutting short its once-promising bid to supply the scratch-resistant material for Apple Inc's iPhones and other mobile devices. Scant information has emerged since GT Advanced filed unexpectedly for bankruptcy on Monday, wiping out most of...

  • MELBOURNE, Fla., Oct 9- Brazilian aircraft manufacturer Embraer broke ground on a new assembly plant in the central Florida city of Melbourne on Thursday, more than doubling its industrial footprint in an area hard-hit by the retirement of NASA's space shuttles three years ago. Embraer also plans to assemble its new Legacy 500 and Legacy 450 aircraft in...

  • Oshkosh to cut about 370 hourly, salaried jobs Thursday, 9 Oct 2014 | 3:16 PM ET

    NEW YORK— Oshkosh Corp. said Thursday that it plans to lay off about 370 workers from its unit that makes military vehicles. Oshkosh said about 250 to 300 of the jobs being cut are hourly positions. Oshkosh shares fell 84 cents, or 1.9 percent, to $42.37 in afternoon trading Thursday.

  • MANCHESTER, New Hampshire, Oct 9- Apple Inc supplier GT Advanced Technologies Inc argued on Thursday it could not reveal why it filed for bankruptcy and asked a court to keep crucial documents sealed, a highly unusual move that may keep investors in the dark about its unexpected financial implosion. GT Advanced forged a deal last year with Apple that involved...

  • Oct 9- Apple Inc supplier GT Advanced Technologies Inc argued on Thursday it could not reveal why it filed for bankruptcy and is asking the court to keep crucial documents sealed, a highly unusual situation that may keep investors in the dark as to the cause of its financial implosion. The company, which had been slated to provide Apple with scratch-resistant...