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Corporate Restructuring

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  • European shares hit new one-month low, HSBC dips Tuesday, 9 Jun 2015 | 3:09 AM ET

    LONDON, June 9- European shares fell on Tuesday to extend a recent losing streak, tracking a drop in U.S. stocks, with HSBC slightly lower after announcing a drastic restructuring plan. The pan-European FTSEurofirst 300 index was down 0.4 percent at 1,522.18 points by 0706 GMT, tracking a fall on Wall Street as investors speculated that the Federal Reserve may...

  • UBS' Nelson: HSBC going 'back to basics' Tuesday, 9 Jun 2015 | 12:39 AM ET
    UBS' Nelson: HSBC going 'back to basics'

    HSBC's plans to accelerate its investments in Asia is a move back to basics, which will be welcomed by investors, says Nick Nelson, head of European Equity Strategy at UBS.

  • HSBC update won't be earth-shattering: IDC Monday, 8 Jun 2015 | 11:42 PM ET
    HSBC update won't be earth-shattering: IDC

    Cyrus Daruwala, managing director, Asia Pacific at IDC Financial Insights, says HSBC will likely "take the safe route" at Tuesday's strategy meeting.

  • Don't get your hopes up on HSBC: Mizuho analyst Monday, 8 Jun 2015 | 8:33 PM ET
    Don't get your hopes up on HSBC: Mizuho analyst

    Jim Antos, bank analyst at Mizuho Securities Asia, says traders expecting dramatic announcements from HSBC's update on late Tuesday may be disappointed.

  • KIEV, June 8- Ukrainian Finance Minister Natalia Yaresko said she was convinced Ukraine would receive $1.7 billion in a second tranche of credit from the International Monetary Fund, even if no deal was tied up with creditors to restructure huge debts. Ukraine, which has been driven to the edge of bankruptcy by gross economic mismanagement and a separatist...

  • UKRAINE'S YARESKO SAYS AGREEMENT WITH CREDITORS ON RESTRUCTURING IS IMPORTANT FOR THE IMF BUT "NOT AN ESSENTIAL CONDITION".

  • Greek bid for debt relief faces euro zone scepticism Sunday, 7 Jun 2015 | 11:45 AM ET

    BRUSSELS, June 7- Greece wants to restructure its huge public debt through cheaper refinancing, longer maturities, a write off of some principal and turning some debt into perpetual or GDP-linked bonds, but the plans have no support in the euro zone so far. A restructuring has been one of the key demands from Greece in its negotiations with creditors on new...

  • LONDON, June 5- A debt restructuring deal for Ukraine seemed far off on Friday, after its finance ministry and creditors accused each other of a lack of engagement in talks and Kiev dismissed the offer from bondholders as unacceptable. Kiev and a creditors' committee led by Franklin Templeton had earlier held a teleconference aimed at reaching a deal to enable...

  • LONDON, June 5- A group of Ukraine's creditors expressed disappointment on Friday that no basis had yet been found for detailed negotiations with Kiev on how to restructure its debt. Kiev and a creditors' committee led by Franklin Templeton had earlier held a teleconference aimed at reaching a deal to enable Ukraine to meet targets attached to a $40 billion...

  • NEW YORK, June 2- A turnaround plan by Puerto Rico utility PREPA suggests restructuring debt in way that might lead to a downgrade, and discussions with creditors could center on sharing the costs of a gap of about $1 billion identified by the utility, analysts said on Tuesday. PREPA proposed a plan on Monday that requires investment of at least $2.3 billion and...

  • KIEV, May 28- Ukraine on Thursday confirmed it was raising $1 billion by selling new bonds backed by the U.S. government and said the issue should contribute to cutting its international debt servicing costs. Near-bankrupt Ukraine is seeking to restructure $23 billion of foreign debt in order to make budget savings of $15.3 billion between 2015 and 2018 which...

  • *Putin says new law paves way for Ukraine default. MOSCOW, May 20- Russia on Wednesday demanded the timely repayment of all debts owed to it by Ukraine and accused Kiev of effectively preparing the way for default with a new law. Moscow, whose relations with Kiev have been wrecked by a year-long conflict in eastern Ukraine, has declined to join the debt restructuring...

  • BOSTON, May 19- The now-defunct Massachusetts pharmacy behind a deadly 2012 meningitis outbreak that killed at least 64 people will pay out $200 million to its victims and creditors under a bankruptcy reorganization plan approved on Tuesday. The bankruptcy reorganization plan was approved by U.S. Bankruptcy Court Judge Henry Boroff. Deaths of patients...

  • *Ukraine needs dollars, not words, from creditors- PM. KIEV, May 19- Ukraine passed a law on Tuesday that gives the government the right to halt payments to creditors as it wrangles over the terms for restructuring $23 billion of foreign debt. Ukraine is holding talks to restructure sovereign and state-guaranteed debt to plug a $15 billion funding gap, but...

  • KIEV, May 19- Ukraine's Finance Ministry said on Tuesday it would act on a new law allowing the government to suspend foreign debt payments "unless a good faith collaborative" solution could be found, repeating that any deal would require a writedown of principal. However it said it was hopeful a solution could be found and restructuring terms agreed "rapidly" with...

  • *PM says Ukraine needs dollars, not words, from creditors. Ukraine is holding talks to restructure sovereign and state-guaranteed debt to plug a $15 billion funding gap, but negotiations have soured in the past week, as bondholders repeated objections to any writedown on the principal owed and Kiev said that stance showed a lack of good faith.

  • Great news about cereal: Kellogg CEO Tuesday, 19 May 2015 | 8:11 AM ET
    Great news about cereal: Kellogg CEO

    John Bryant, Kellogg CEO, talks about Kellogg's efforts to nab the top spot at the breakfast table, despite headwinds for cereal products.

  • Satisfying consumers' changing tastes: Kellogg CEO Tuesday, 19 May 2015 | 8:07 AM ET
    Satisfying consumers' changing tastes: Kellogg CEO

    John Bryant, Kellogg CEO, discusses Kellogg's huge restructuring plans as the company pushes to provide consumer with healthier products.

  • WASHINGTON, May 15- United Launch Alliance, a joint venture of Lockheed Martin Corp and Boeing Co, on Friday said it was cutting its executive ranks by 30 percent in December through what it called voluntary departures by 12 executives. ULA, formed by the two largest U.S. weapons makers in 2006, has long been the sole company able to launch U.S. military and...

  • WASHINGTON, May 15- United Launch Alliance, a joint venture of Lockheed Martin Corp and Boeing Co, on Friday said 12 executives would leave the company in December under a voluntary layoff, a 30- percent reduction in executive ranks. Tory Bruno, chief executive of the venture, told Reuters in an emailed statement the layoffs were part of ULA's ongoing efforts to...