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  • Volkswagen chair resigns after losing CEO showdown Saturday, 25 Apr 2015 | 3:02 PM ET
    Ferdinand Piech, Chairman of the Supervisory Board of Volkwagen Group.

    Ferdinand Piech, a towering figure at Volkswagen for more than two decades, resigned as its chairman on Saturday.

  • FRANKFURT, April 25- Ferdinand Piech, a towering figure at Volkswagen for more than two decades, resigned as its chairman on Saturday after losing a showdown with Chief Executive Martin Winterkorn. Piech, the 78- year-old grandson of the inventor of the Volkswagen Beetle, had previously seen off other executives who crossed him, including his hand-picked...

  • April 23- Investment bank and asset manager Lazard Ltd reported a better-than-expected quarterly profit as a jump in corporate dealmaking boosted its M&A advisory fees. M&A and other advisory fees for Lazard, the sole adviser to H.J. Some of the other ongoing big deals that Lazard is part of include AT&T Inc's $67.1 billion bid for DirecTV and Pfizer Inc's $17...

  • FRANKFURT, April 23- Airbus has started approaching potential buyers for electronics and other assets it wants to sell to focus its defence division on warplanes, missiles, launchers and satellites, three sources familiar with the matter said. Europe's defence industry is struggling as cash-strapped governments cut military spending, and the asset sales...

  • April 22- Communications equipment maker Arris Group Inc will buy British set-top box maker Pace Plc in a $2.1 billion cash-and-stock deal to expand into the satellite business and boost its business outside North America. The company said it had secured a loan from Bank of America Merrill Lynch to fund the transaction. Evercore and BofA Merrill Lynch are...

  • BERLIN/ HAMBURG, April 17- Volkswagen CEO Martin Winterkorn has survived a challenge from powerful chairman Ferdinand Piech, but their row remains a distraction for the carmaker as it struggles to boost profits and revamp its ailing U.S. business. The committee issued a statement on Friday giving Winterkorn its "full support" and announcing that it would...

  • Russia's Raspadskaya Q1 coal output down 16 pct q/q Thursday, 16 Apr 2015 | 2:23 AM ET

    MOSCOW, April 16- Russian coking coal miner Raspadskaya produced 2.8 million tonnes of coal in the first quarter of 2015, down 16 percent quarter-on-quarter, the company said on Thursday.

  • *Singtel moving beyond being a pure-play telco. The deal comes as Singtel is moving away from being a pure-play telecoms company and pursues expansion in areas such as "digital life", which includes mobile video and digital advertising, and cyber security through partnerships with FireEye Inc and Akamai, among others. Singtel, which owns stakes in regional...

  • UPDATE 1-Simon Property ends pursuit of Macerich Wednesday, 1 Apr 2015 | 9:40 AM ET

    April 1- Simon Property Group Inc scrapped its attempt to buy Macerich Co, ending what could have been the largest deal between U.S. shopping mall operators after Macerich rejected its sweetened offer of $23.2 billion including debt. Shares of Macerich, which said the raised offer still undervalued the company, fell 5 percent to $80 in premarket trading on...

  • MOSCOW, April 1- Russia's Evraz, one of the country's largest steelmakers, will return up to $375 million to its shareholders as part of a tender offer, it said on Wednesday, after its 2014 core earnings rose on a weaker rouble. Evraz, partly controlled by Chelsea soccer club owner Roman Abramovich, said core earnings- earnings before interest, taxation, depreciation...

  • Russia's Evraz says net loss of $1.3 bln in 2014 Wednesday, 1 Apr 2015 | 2:13 AM ET

    MOSCOW, April 1- Russia's Evraz, one of the country's largest steelmakers, made a net loss of $1.3 billion in 2014 compared to a loss of $551 million in the previous year, the company reported on Wednesday. Evraz, partly controlled by Chelsea soccer club owner Roman Abramovich, said core earnings rose to $2.3 billion, up 28 percent year on year. Revenue fell nine...

  • NEW YORK, March 18- More than half of the 17 senior managing directors working in Blackstone Group LP's mergers and acquisitions advisory arm may leave as the business is combined with the advisory firm headed by star Wall Street investment banker Paul Taubman, according to people familiar with the matter. Since he left a senior role at Morgan Stanley in 2012 to...

  • NEW YORK/ TORONTO March 10- HumakerUBS AG has poached a U.S. team of some 15 oil and gas investment bankers from Bank of Montreal, significantly weakening the energy dealmaking capacity at Canada's fourth-largest bank, people familiar with the matter said. The moves come amid plummeting oil prices that have prompted banks to try to lure talented energy bankers...

  • By Manolo Serapio Jr SINGAPORE, Feb 27- Shares in China's steelmarkers outshone long-time international rivals in 2014 as Chinese mills overwhelmed buyers with cheap prices. Shares of Hebei Iron and Steel, the listed unit of top Chinese producer Hebei Steel Group, soared more than 90 percent last year. While those gains mirrored the broader rally in Chinese...

  • Armstrong World's floorings business recorded sales of $1.26 billion in 2014, or about 49 percent of total revenue. Armstrong World also reported smaller-than-expected fourth-quarter revenue, hurt by lower sales in the Americas as well as a stronger dollar. Armstrong World exited its European flooring business in December due to cooling housing demand...

  • *Q4 adjusted loss 23 cents/ share vs est 32 cents. Feb 12- Rig contractor Hercules Offshore Inc said it slashed its workforce by nearly a third and cut salaries, as the company keeps a tight leash on costs to counter a fall in demand due to a slump in crude oil prices. Oil and gas producers, drillers and services providers such as Cenovus Energy Inc, BG Group Plc,...

  • *Q4 adjusted loss of 23 cents/ share vs estimate of 32 cents. *Company had cut 15 pct jobs, shut 4 rigs in Gulf of Mexico. Larger rival Diamond Offshore Drilling Inc and land driller Patterson-UTI Energy Inc have warned of a challenging 2015..

  • Altman: If Putin reneges on Ukraine, US should ... Thursday, 12 Feb 2015 | 9:39 AM ET
    Vladimir Putin

    Former Clinton Deputy Treasury Secretary Roger Altman tells CNBC it's too early to say if the Russia-Ukraine cease-fire is a good deal.

  • MOSCOW, Feb 8- Russia has put 199 major companies on a list of strategic firms eligible for state assistance under the government's plan to help the ailing economy, the Economy Ministry said on Sunday. Russia is sliding towards recession and Moscow has come up with an anti-crisis plan promising state support for various sectors of the economy but giving few...

  • Prokhorov: Want the Brooklyn Nets? Call me Tuesday, 13 Jan 2015 | 2:26 PM ET
    Brooklyn Nets owner Mikhail Prokhorov

    Brooklyn Nets ownership is open to offers to sell stake in the team, but nothing is imminent, owner Mikhail Prokhorov said.