Business Events Restructurings

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  • NEW YORK/ SAN JUAN, Oct 22- Advisors for several bondholder groups in Puerto Rico are scheduled to meet on Tuesday with advisors for the U.S. Puerto Rico has been trying to persuade different investor groups to sign on to deals to restructure debt. But on Wednesday, the Government Development Bank said it had failed to come to a deal with creditors.

  • Treasury Secretary counselor Antonio Weiss appealed to Congress to help the U.S. territory and warned Puerto Rico could face a humanitarian crisis without federal action. He repeated the key points of a plan released by the Treasury on Wednesday, saying Congress should provide tools for Puerto Rico to restructure its liabilities, increase Medicaid support...

  • CAT CEO: We're in a 'rough patch' Thursday, 22 Oct 2015 | 8:05 AM ET
    CAT CEO: We're in a 'rough patch'

    Doug Oberhelman, Caterpillar chairman & CEO, breaks down the company's quarterly results which missed on both the top and bottom line as the company faces commodity headwinds. Also Oberhelman weighs in on the importance of highway funding.

  • CHICAGO, Oct 21- Caesars Entertainment's bankrupt operating unit can keep exclusive control over its bankruptcy until March 15, a U.S. bankruptcy judge ruled on Wednesday, giving the casino group its second extension filing for chapter 11 protection in January. The casino operating unit, CEOC, presented a new bankruptcy reorganization plan earlier this month...

  • Yum brands saying goodbye to China Tuesday, 20 Oct 2015 | 10:00 AM ET
    Yum brands saying goodbye to China

    Yum Brands is separating its China business as part of its reorganization efforts.

  • Deutsche Bank axes key executives Monday, 19 Oct 2015 | 7:00 AM ET
    Deutsche Bank axes key executives

    Deutsche Bank announced plans to restructure its business and the reorganize key executives.

  • *Deutsche Bank up on restructuring plan. LONDON, Oct 19- European shares climbed to a five-week high on Monday, helped by a rise in Deutsche Bank and retailer Metro AG, while expectations of stimulus measures offset some weak Chinese data. Deutsche Bank rose 3.7 percent, the top performer, as investors welcomed Chief Executive John Cryan's plan to restructure the...

  • Deutsche Bank announces split Monday, 19 Oct 2015 | 6:04 AM ET
    Deutsche Bank announces split

    As part of its restructuring plan, Deutsche Bank is splitting its investment bank in two and removing several top executives, reports CNBC's Carolin Roth with the details.

  • NEW YORK, Oct 15- Puerto Rico's electric power authority, PREPA, has extended by one week an agreement with its bondholders and lenders that was to expire at the close of Thursday, while it is continuing to try to negotiate a deal with bond insurers who are holding out on a deal. Reducing PREPA's $9 billion in debt has been seen as a critical test for the U.S. territory as...

  • LIMA, Oct 9- Russian Finance Minister Anton Siluanov and his Ukrainian counterpart, Natalia Yaresko, failed to reach a deal at their meeting on Friday on restructuring Kiev's $3 billion debt to Moscow, but agreed to continue talking. Ukraine has agreed a debt restructuring deal with a group of its largest creditors in order to plug a $15 billion funding gap under...

  • Oct 8- A U.S. bankruptcy court approved Patriot Coal's restructuring plan at a hearing on Thursday, including the sale of a major part of its mines and coal reserves to privately held Blackhawk Mining of Lexington, Kentucky. Patriot Coal, based in Scott Depot, West Virginia, filed for bankruptcy in May, its second in three years, listing assets and liabilities of more...

  • *Asks to extend control over bankruptcy until March 15. Oct 8- The operating unit of Caesars Entertainment Corp said on Thursday it had modified its bankruptcy exit plan to sweeten the payout for junior creditors and asked to extend its control over its Chapter 11 restructuring. The company now wants until March 15 to try to reach common ground on a plan that has so...

  • Oct 8- Caesars Entertainment Corp has filed in a U.S. bankruptcy court an amended restructuring plan that provides for higher recoveries for its unit's junior creditors and it has sought an extension to its exclusive right to propose a plan. Caesars' operating subsidiary filed for Chapter 11 bankruptcy in January, but its restructuring plan has been opposed by...

  • Oct 8- Casino operator Caesars Entertainment Corp said its unit filed an amended restructuring plan along with a disclosure statement in a U.S. bankruptcy court. Caesars Entertainment said its unit was not seeking a hearing to approve the disclosure statement and solicit votes on the amended plan at this time. The company has been battling creditors over...

  • Oct 7- Monsanto Co, one of the world's largest seed and agrichemical companies, said on Wednesday that it was slashing 2,600 jobs and restructuring operations to cut costs in a slumping commodity market that it expects to squeeze results well into 2016.. Monsanto, which also reported a much wider quarterly loss, said that along with the layoffs, its global...

  • *American Apparel bets on financial, fashion turnaround. CHICAGO, Oct 6- American Apparel Inc plans to revamp its struggling fashion business under a restructuring plan that would give ownership to the Standard General hedge fund, which rescued RadioShack earlier this year, lawyers said at a hearing on Tuesday. American Apparel Inc, the country's largest "Made...

  • UPDATE 1-SunEdison to cut 15 pct of its workforce Monday, 5 Oct 2015 | 6:28 PM ET

    Oct 5- U.S. solar company SunEdison Inc said it would cut about 15 percent of its global workforce as part of a restructuring plan to integrate the businesses it bought recently. SunEdison's stock has been under pressure since mid-July as investors questioned the solar company's liquidity after its purchase of Vivint Solar Inc.. TerraForm Power Inc, a unit of...

  • NEW YORK, Oct 5- Confidentiality agreements regarding Puerto Rico's restructuring have been signed by six groups, a spokeswoman for the U.S. territory's Government Development Bank said in an emailed statement, as the island starts the process of trying to persuade creditors to take cuts to their debt. Puerto Rico officials earlier in September proposed...

  • UPDATE 2-American Apparel files for bankruptcy Monday, 5 Oct 2015 | 4:57 AM ET

    *Files for Ch.11 bankruptcy protection in Delaware. Oct 5- American Apparel Inc filed for chapter 11 bankruptcy protection on Monday, joining a rising number of U.S. apparel retailers reeling under tough competition and lower spending by teen shoppers. Under the agreement, American Apparel's secured lenders will provide about $90 million in...

  • UPDATE 1-American Apparel files for bankruptcy Monday, 5 Oct 2015 | 1:57 AM ET

    Oct 5- Troubled teen apparel retailer American Apparel Inc filed for voluntary chapter 11 bankruptcy protection on Monday and said it had reached a restructuring support agreement with most of its secured lenders. American Apparel said it would continue to operate its business throughout the process with its retail stores, wholesale and U.S. manufacturing...