Restructurings
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*Sony option and share volume far above normal on Monday. May 14- A surge in option market bets on Sony Corp just before a large hedge fund investor announced a big stake and called for a major restructuring of the company has raised concerns that some traders may have had advance word of the news.
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*Sony option and share volume far above normal on Monday. May 14- A surge in option market bets on Sony Corp just before a large hedge fund investor announced a big stake and called for a major restructuring of the company has raised concerns that some traders may have had advance word of the news.
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CNBC's Andrew Ross Sorkin reports on that Third Point's CEO has acquired the largest stake in Sony and could be looking into breaking up the company into three separate pieces.
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May 13- Michigan's biggest city is "clearly insolvent" and needs to restructure its debt and renegotiate its labor contracts to address its problems, Detroit's emergency financial manager said on Monday.
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*Argentina could take its case to the Supreme Court. A U.S. judge ordered Argentina to pay the holdouts the full $1.33 billion owed them the next time it serviced restructured debt. Argentina appealed, and a ruling by the 2nd U.S. Circuit Court of Appeals is expected in the coming weeks.
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*Dubai Group says expects to sign debt deal in weeks. DUBAI, May 9- The Dubai Group investment firm said on Thursday it expected a $10- billion restructuring of its debt within weeks, sealing the Gulf emirate's recovery from a financial crisis that brought it to the brink of default.
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*Dubai Group not expecting to sell assets in 2013. DUBAI, May 9- Dubai Group, an investment vehicle owned by the emirate's ruler, will become an independent company after its planned $10 billion debt restructuring, a top official said.
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DUBAI, May 9- Dubai Group will become an independent company after its planned $10 billion debt restructuring, the chief executive of parent Dubai Holding said in an interview on Thursday.
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JOHANNESBURG, May 9- Anglo American's platinum arm, under pressure from South Africa's government, could announce a restructuring plan as early as Thursday that will sharply scale back job losses as it tries to balance out cost cuts and the threat of labour unrest.
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*Dubai Group not expecting to sell assets in 2013. DUBAI, May 9- Dubai Group, an investment vehicle owned by the emirate's ruler, will be spun off as an independent company with creditors owning an equity stake after its planned $10 billion debt restructuring, a top official said.
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DUBAI, May 9- Dubai Group will be spun off as an independent company with creditors owning an equity stake after its planned $10 billion debt restructuring, the chief executive of parent Dubai Holding said in an interview on Thursday.
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*Amplats overhaul vital to fortunes of Anglo American. JOHANNESBURG, May 9- Anglo American's platinum arm, under pressure from South Africa's government, is set to reveal a revised restructuring plan on Friday to sharply scale back planned job losses as it weighs the threat of labour unrest against cost savings.
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JOHANNESBURG, May 9- Anglo American's platinum arm, under pressure from South Africa's government, could announce a restructuring plan as early as Thursday that will sharply scale back job losses as it tries to balance out cost cuts and the threat of labour unrest.
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NEW YORK, May 8- MBIA Inc agreed to pay Societe Generale $350 million to settle litigation over the bond insurer's restructuring, a person familiar with the case told Reuters on Wednesday.
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*Last big debt restructuring related to Dubai's crisis. DUBAI, May 8- Dubai Group, an investment vehicle owned by the emirate's ruler, aims to secure a final agreement with creditors on its $10 billion debt restructuring by June 6, potentially ending marathon negotiations that have dragged on nearly three years.
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DUBAI, May 8- Dubai Group, an investment vehicle owned by the emirate's ruler, aims to secure a final agreement with creditors on its $10 billion debt restructuring by June 6, potentially ending marathon negotiations that have dragged on nearly three years.
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LONDON, May 7- HSBC is saving $4 billion a year on an annualised basis due to measures introduced in its restructuring plan in early 2011, the bank's Finance Director Iain Mackay said on Tuesday.
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LONDON, May 7- HSBC said its first quarter profits almost doubled from a year ago to more than $8 billion as bad debts and costs fell, with Europe's biggest bank showing the benefit of a 3- year restructuring plan.
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*On May 6 the bankruptcy court entered a confirmation order confirming the. company's reorganization plan- SEC filing. *Source text for Eikon:* Further company coverage.
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VIENNA, May 4- Nationalised Austrian bank Hypo Alpe Adria has failed to justify the state aid it has received and may have to pay it back if it does not improve on its latest restructuring plan, according to a letter from Europe's competition chief.
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The filing with U.S. Bankruptcy Court in Delaware will allow the Los Angeles company to exit the auto sector and refocus on energy storage, a far less capital-intensive business.