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Restructurings

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  • Macy's ahead of retail game: Pro   Friday, 9 Jan 2015 | 6:16 AM ET
    Macy's ahead of retail game: Pro

    Dana Telsey, Telsey Advisory Group CEO, discusses the growing pressure among retailers to cut costs and revamp business models. It's brand names that seems to be winning, says Telsey.

  • 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...

  • NEW YORK/ SAN JUAN, Puerto Rico Dec 15- R estructuring experts will present different scenarios to overhaul Puerto Rico's troubled electric power authority to creditors on Monday, but will stop short of recommending job cuts, the president of PREPA's board said in a statement. The proposals, which will not be made public, were prepared by Chief Restructuring...

  • BUSINESS PLAN FOR PUERTO RICO ELECTRIC AUTHORITY TO BE. SAN JUAN, Dec 15- A business plan for PREPA, the troubled Puerto Rican electric authority, is to be presented to creditors on Monday, board president Harry Rodriguez said in a statement. The business plan of Chief Restructuring Officer Lisa Donahue is a working document that will present different scenarios...

  • 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,...

  • BUENOS AIRES, Dec 11- Argentina, which faces a shortage of hard currency, received a third tranche of a currency swap from China on Thursday to bolster its foreign reserves, the country's central bank said. Argentina tipped into default for the second time in 12 years when a U.S. judge ruled it could not service debt that was restructured after its record 2002...

  • 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.

  • 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.

  • 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...

  • BEIJING, Dec 5- The Chinese government has ordered its most polluted province, Hebei, to draw up fresh plans to "upgrade" its economy in a bid to ease its dependence on heavy industries like steel and cement, the Economic Observer newspaper reported on Friday. Hebei, which surrounds the capital Beijing, is China's biggest steel producer and home to seven of the...

  • LONDON, Dec 3- Ukrainian companies are struggling with foreign debt repayments, hit by the hryvnia's 45 percent fall this year, slumping revenues caused by economic recession and the conflict in the east of the country. First Ukrainian International Bank- Asked creditors for maturity extension on its $250 million bond due December 2014, to increase the tenor to...

  • Dec 1- The U.S. Congress failed last month to restructure dozens of expired tax breaks- some for business interests and some for ordinary Americans- and now time is short, prompting analysts to predict a no-frills, one-year renewal of the tax "extenders." Not renewing the extenders this year could delay 2015 tax return processing, the IRS has warned, while businesses...

  • Sony sees 70 pct jump in devices revenues in 3 years Monday, 24 Nov 2014 | 8:25 PM ET

    TOKYO, Nov 25- Japan's loss-making Sony Corp said it expects revenue for its electronic devices division to rise up to 69 percent over the next three years, to as much as 1.5 trillion yen, as it works through an extensive restructuring plan. The forecast was released on Tuesday at the start of a Sony investors' conference on prospects for its electronics division.

  • DETROIT, Nov 24- Detroit is eying a date between Dec. 8 and 10 for its debt adjustment plan to take effect, allowing the city to exit the biggest-ever municipal bankruptcy, an attorney said on Monday. Heather Lennox, Detroit's attorney with law firm Jones Day, told U.S. Bankruptcy Court Judge Steven Rhodes that the city expects to complete a budget that incorporates...

  • Caesars, creditors consider turning unit into REIT Wednesday, 19 Nov 2014 | 6:14 PM ET
    Caesars Palace

    Caesars Entertainment proposed a restructure plan that would the debt of its largest unit into a real estate investment trust.

  • Citi to US: Argentina banking license at risk Tuesday, 19 Aug 2014 | 1:40 PM ET

    Citigroup told the US appeals court that Argentina's banking license may be at risk as a result of the standoff between the country and hedge funds.

  • Barclays braced for further job cuts   Friday, 14 Mar 2014 | 3:34 AM ET
    Barclays braced for further job cuts

    Barclays is braced for further job losses at its investment bank, as the re-shaping of the bank continues.

  • Major airlines still struggling: pro   Wednesday, 24 Jul 2013 | 3:30 AM ET
    Major airlines still struggling: pro

    James Halstead, managing partner at Aviation Strategy, discusses airlines ahead of quarterly results and highlights the restructuring currently underway.

  • AkzoNobel needs more cost cutting: CEO   Thursday, 18 Jul 2013 | 2:05 AM ET
    AkzoNobel needs more cost cutting: CEO

    Ton Buchner, CEO of AzkoNobel, says the group is stepping up its cost reduction plans to meet an improvement program target and discusses growth in China and U.S.

  • Ballmer's Microsoft Culture Overhaul   Thursday, 11 Jul 2013 | 1:09 PM ET
    Ballmer's Microsoft Culture Overhaul

    Microsoft's CEO Steve Ballmer is creating "cross-functional strike teams" to work across the individual engineering divisions to spearhead new ideas, explains CNBC's Jon Fortt.