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  • SAO PAULO, Jan 12- Thousands of Brazilian metalworkers marched on a highway outside of Sao Paulo on Monday to protest layoffs by carmakers, adding to a mounting crisis in a politically sensitive industry. State police said about 7,000 workers from Volkswagen AG, Ford Motor Co and the Mercedes-Benz truck unit of Germany's Daimler AG occupied a lane of the highway...

  • Jan 12- A group of hedge fund creditors of Caesars Entertainment Corp sought on Monday to force its main operating unit into bankruptcy and to appoint an independent examiner to investigate what they allege was the plundering of the company. The involuntary bankruptcy petition was filed by affiliates of Appaloosa Management, Oaktree Capital Management and...

  • Jan 12- A group of second-lien bondholders of casino operator Caesars Entertainment Corp filed a petition for involuntary Chapter 11 bankruptcy protection against the company's largest unit after it defaulted on interest payments. Caesars Entertainment Operating Co Inc defaulted on $225 million of payments due on Dec. 15. Caesars Entertainment Corp...

  • SAO PAULO, Jan 12- Thousands of metalworkers in Brazil marched on a highway outside of Sao Paulo on Monday to protest layoffs by carmakers, adding to a mounting crisis in a politically sensitive industry. State police said about 7,000 workers from Volkswagen AG, Ford Motor Co and the Mercedes-Benz truck unit of Germany's Daimler AG occupied a lane of the highway...

  • Parr: What big bank breakups could look like Monday, 12 Jan 2015 | 9:05 AM ET
    Gary Parr, Vice Chairman Lazard.

    The banking industry could look different soon due to the high cost of being a big bank, Lazard's Gary Parr tells CNBC.

  • Goldman Sachs: Watch out for energy M&A in 2015 Monday, 12 Jan 2015 | 7:14 AM ET
    A derrick hand removes the the plastic caps off the threaded ends of pipe used in the drilling process in Knox County, Ohio.

    Healthcare M&A looks set to be strong again this year, following deals from Shire and Roche. But Goldman Sachs says energy's a sector to watch too.

  • Jan 12- Hong Kong's key share index edged up on Monday, lifted by the business restructuring plan announced late on Friday by Li Ka- shing, Asia's richest man. "Li's reconstructuring boosted the share price of Hong Kong's property sector today, and I expect rise will last for a week," said Andy Wong, senior investment analyst at Harris Fraser in Hong Kong.

  • CALGARY, Alberta, Jan 9- Royal Dutch Shell will cut from 5 to 10 percent of the about 3,000 jobs at its Albian Sands mining project in northern Alberta, a company spokesman said on Friday, but refrained from connecting the move to plunging oil prices. Albian Sands is the mining portion of Shell's Athabasca Oil Sands project near Fort McMurray, Alberta, which also...

  • Jan 9- Caesars Entertainment Corp said on Friday it has garnered enough support from key creditors to carry out its $18.4 billion debt restructuring plan for its operating unit, which will soon file for bankruptcy. The plan will reduce the debt associated with Caesars Entertainment Operating Co Inc to $8.6 billion from $18.4 billion. Caesars has been weighed...

  • Jan 9- Caesars Entertainment Corp said on Friday it has garnered enough support from key creditors to carry out its $18.4 billion debt restructuring plan for its operating unit, which will soon file for bankruptcy. The plan will reduce the debt associated with Caesars Entertainment Operating Co Inc to $8.6 billion from $18.4 billion. Caesars has been weighed...

  • Jan 8- General Mills Inc said it plans to close down its plants in Midland, Ontario, Canada and New Albany, Indiana, cutting about 500 jobs, as part of announced efforts to reduce costs. General Mills said it had notified the New Albany union representatives of its decision to shutdown the plant. General Mills, which is struggling with weak sales and competition from...

  • UPDATE 1-Macy's to cut jobs, close 14 stores Thursday, 8 Jan 2015 | 6:35 PM ET

    Macy's, which owns the high-end Bloomingdale's chain, said the move would help offset higher expense expected from healthcare and retirement plans. Picking up goods from stores after ordering online, a service being rolled out at all large Macy's and Bloomingdale's stores, has also gained popularity as shoppers can save shipping charges and collect orders...

  • Jan 8- General Mills Inc said it plans to reduce its refrigerated dough capacity and close its plants in Midland, Ontario, Canada and New Albany, Indiana, as part of efforts to cut costs.

  • Macy's to cut jobs, close 14 stores Thursday, 8 Jan 2015 | 4:54 PM ET

    Jan 8- Macy's Inc said it would close 14 stores in early spring 2015 and cut some jobs to boost its investment in technology and offset higher expense expected in healthcare and retirement plans. The retailer said it expected savings of about $140 million per year, beginning in 2015.. Macy's said its workforce is expected to remain at a level of about 175,000 as it...

  • WASHINGTON, Jan 7- U.S. central bankers have looked beyond a global deflation threat, fear of energy-sector bond defaults, and a surge of oil patch layoffs to reach what appears to be a firm conclusion: the U.S. recovery is here to stay. New trade data released on Wednesday and signs of ever-stronger consumer spending confirmed the United States remains the bright...

  • UPDATE 1-Wet Seal lays off 3,700 as it closes 338 stores Wednesday, 7 Jan 2015 | 10:04 AM ET

    Jan 7- Struggling apparel retailer Wet Seal Inc said it laid off about 3,700 full- and part-time employees on Wednesday as it went ahead with the closure of 338 stores. The closed stores accounted for almost half of Wet Seal's net sales of about $317 million in the nine months to Nov. 1. The closures will result in pre-tax charges of $5.4 million- $6.4 million, Wet Seal...

  • Wet Seal lays off 3,700 as it closes 338 stores Wednesday, 7 Jan 2015 | 9:26 AM ET

    Jan 7- Struggling apparel retailer Wet Seal Inc said it laid off about 3,700 full- and part-time employees on Wednesday as it closed 338 retail stores. The closures followed Wet Seal's failure to successfully re-negotiate meaningful concessions from landlords, the company said. The closed stores accounted for almost half of Wet Seal's net sales for the nine...

  • 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...