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  • BEIJING, April 3- Creditors in China's Bohai Steel Group have agreed to extend the maturity of their loans and lower the interest rates under a second restructuring plan for the troubled steelmaker, according to financial magazine Caixin on Sunday. China's steelmakers are in the eye of a storm as Beijing moves to slim down bloated industries, including steel...

  • April 1- An extra-marital affair of a restructuring adviser working for the bankrupt unit of Caesars Entertainment Corp has cost the casino operator a team of key advisers just as the unit faces a Monday deadline to submit a plan to end its $18 billion bankruptcy. In a little-noticed ruling from the bench in Chicago on March 16, a judge said that Knoll's team's...

  • SAO PAULO, March 30- State-controlled Petróleo Brasileiro SA, the Brazilian oil producer at the center of a sweeping corruption probe, plans to save 1.8 billion reais a year through a reorganization plan that includes the merger of several business units, job cuts and a streamlining of activities. In a securities filing, the company known as Petrobras said on...

  • March 30- SandRidge Energy Inc confirmed on Wednesday it has hired advisers to evaluate options including a bankruptcy filing, in what could be the most high-profile reorganization yet in U.S. shale oil industry. The company, battered by a 60 percent slide in oil prices since mid-2014, said in a regulatory filing there was substantial doubt about its financial...

  • MOSCOW, March 30- Russian Economy Minister Alexei Ulyukayev said on Wednesday he supported a decision to restructure state development bank VEB's debts to the central bank as part of rescue measures for the troubled lender. Prime Minister Dmitry Medvedev told VEB's supervisory board on Tuesday that the government would provide 150 billion roubles to...

  • SAO PAULO, March 24- A group of unidentified Oi SA bondholders has hired Moelis& Co to advise on a plan by Brazil's most indebted phone carrier to restructure part of its 55 billion reais in obligations, a source with direct knowledge of the matter said on Thursday. The group owns about $2.5 billion in Oi notes, said the source, who requested anonymity to speak freely...

  • HONG KONG, March 24- Bohai Steel Group's 2017 bonds held steady on Thursday, after bouncing from lows following reports the Chinese state-owned steelmaker was planning to restructure $29.61 billion in debt. China's steelmakers are in the eye of a storm as Beijing moves to slim down bloated industries, including steel and coal, to make the economy more efficient...

  • *Shares up 2 pct by 1200 GMT. ZURICH, March 23- A slump in investment banking revenues prompted Credit Suisse on Wednesday to accelerate its restructuring plan and cut a further 800 million Swiss francs of costs. It will cut 2,000 jobs at the division, mostly in London and New York.

  • *Net inflows in Asia-Pacific, wealth management, universal bank. ZURICH, March 23- Credit Suisse Group on Wednesday announced 800 million Swiss francs in additional cost cuts and plans to shrink its investment bank further as it spurs a restructuring plan aimed at revitalising its earnings. The cuts include eliminating 2,000 jobs at its Global Markets...

  • Credit Suisse branch in Geneva, Switzerland.

    Credit Suisse Group is stepping up cost cuts including eliminating 2,000 jobs at its Global Markets business.

  • OTTAWA, March 22- Canada will introduce legislation to implement a "bail-in" regime for systemically important banks that would shift some of the responsibility for propping up failing institutions to creditors. Canada, which escaped the crisis relatively unscathed, did not have to rescue any of its banks. The government said it will introduce framework...

  • WASHINGTON, March 22- Liberal justices on Tuesday signaled support for Puerto Rico as the U.S. Supreme Court considered whether to revive a law that could let the U.S. territory cut billions of dollars owed in debt at some public agencies, a key test in the island's efforts to weather a huge fiscal crisis. Puerto Rico faces what its governor has called an unpayable...

  • WASHINGTON, March 22- U.S. Supreme Court justices on Tuesday appeared conflicted as they considered whether to revive a Puerto Rico law that would allow restructuring of the debt-burdened U.S. As Puerto Rico's leaders, creditors and U.S. lawmakers seek a debt solution in the U.S. Congress, the question before the Supreme Court is whether the island should be...

  • WASHINGTON, March 22- Puerto Rico will ask the U.S. Supreme Court on Tuesday to validate a law that could let it cut billions of dollars from what it owes in debt at some public agencies, a key test in the island's efforts to weather a massive fiscal crisis. As Puerto Rico leaders, creditors and U.S. lawmakers seek a debt solution in the U.S. Congress, the question before...

  • SHUANGYASHAN, China, March 20- Anticipating millions of layoffs from bloated state-owned coal and steel companies, Chinese authorities are shunting redundant workers into jobs in farming, forestry and public services. At the recent annual session of parliament China's leaders stressed that a major restructuring of the economy, stripping out excess...

  • *Rothschild may hire staff as global players leave Russia. Giovanni Salvetti, head of Rothschild operations in Russia and the Commonwealth of Independent States, told Reuters he believed the firm could perform well advising on debt restructuring, asset swaps, and distressed sales- all activities that can see an upturn in times of economic hardship.

  • BEIJING, March 16- China will try to avoid mass layoffs as it restructures the steel and coal sectors, even as it pushes ahead with economic reforms, Premier Li Keqiang said.

  • Peabody Energy Corp, the largest U.S. coal producer, said this month that its lenders are pushing to restructure its $6 billion debt through bankruptcy. Foresight Energy reported a net loss of $64.3 million, or 44 cents per limited partner unit, for the fourth quarter, compared with a profit of $31.1 million, or 22 cents per limited partner unit, a year earlier.

  • SAN JUAN/WASHINGTON, March 14- Republican lawmakers are writing a fix to the Puerto Rico debt crisis that would give an independent financial review board sweeping power to arbitrate creditor disputes and map a future for the U.S. territory's pension system. The U.S. Treasury Department has long called for a debt restructuring for Puerto Rico.

  • China will focus on mergers and restructuring, not bankruptcies, Xiao Yaqing, the head of the State-owned Assets Supervision and Administration Commission, told a news conference. As it tries to rejuvenate its economy, China aims to reduce the number of central government-managed enterprises and launch pilot programmes that will allow more private...