Business Events Restructurings

  • DUBAI, June 20- An effort to restructure indebted Saudi Arabian builder Mohammad Al Mojil Group was thrown into doubt on Monday when the firm said its board had resigned after three people involved with the company were sentenced to jail. Last week, the stock market regulator ordered MMG to pay it damages of 1.6 billion riyals and sentenced three people,...

  • *Graphic on China aluminum production vs prices: http://tmsnrt.rs/28IXhIq. LONDON, June 20- " China has committed to ensure that its central government policies and support do not target the net expansion of steel capacity; and to actively and appropriately wind down' zombie enterprises' through a range of efforts, including restructuring and bankruptcy."

  • *Graphic on China aluminium production vs prices: http://tmsnrt.rs/28IXhIq. LONDON, June 20- " China has committed to ensure that its central government policies and support do not target the net expansion of steel capacity; and to actively and appropriately wind down' zombie enterprises' through a range of efforts, including restructuring and bankruptcy."

  • MEXICO CITY, June 17- Embattled Mexican construction firm ICA said it will borrow $215 million from financier David Martinez's vehicle Fintech, as it unveiled a preliminary restructuring plan that offered few details on how it would cope with its heavy debt load. The Mexico City- based firm has failed to post a profit since 2013 and struggled to find new work in...

  • SAO PAULO, June 17- Prices of Oi SA bonds jumped on Friday after Brazil's most indebted wireless carrier laid out the terms of a restructuring proposal aimed at cutting 50 billion reais in obligations by more than half. Notes from a Netherlands- based Oi unit due this year were excluded from the plan. The Rio de Janeiro- based company, which faces a payment of 230...

  • MEXICO CITY, June 17- Embattled Mexican construction firm ICA said it will borrow $215 million from financier David Martinez's vehicle Fintech, as it unveiled a preliminary restructuring plan that offered few details on how it would cope with its heavy debt load. The Mexico City- based firm has failed to post a profit since 2013 and struggled to find new work in...

  • MEXICO CITY, June 17- Embattled Mexican construction firm ICA said it will borrow $215 million from financier David Martinez's vehicle Fintech, as it unveiled a preliminary restructuring plan. In a statement on Friday, the company said it would exit international concession projects it had yet to begin, and construction would be limited to Mexican operations...

  • *House has passed Puerto Rico bill, Senate has yet to act. WASHINGTON, June 13- The Supreme Court on Monday refused to revive a Puerto Rico debt-restructuring law, putting the U.S. territory at risk of a messy default unless Congress this month passes legislation to help the Caribbean island survive its crippling fiscal crisis. The White House has urged the Senate...

  • *House has passed Puerto Rico bill, Senate has yet to act. WASHINGTON, June 13- The Supreme Court on Monday refused to revive a Puerto Rico debt-restructuring law, putting the U.S. territory at risk of a messy default unless Congress this month passes legislation to help the Caribbean island survive its crippling fiscal crisis. The White House has urged the Senate...

  • WASHINGTON, June 13- The U.S. Supreme Court on Monday rejected Puerto Rico's bid to revive a law that would have let the U.S. territory cut billions of dollars in debt at public utilities, delivering a setback to the Caribbean island's efforts to withstand a fiscal crisis. The court ruled 5-2 that Puerto Rico's 2014 law known as the Recovery Act conflicts with U.S....

  • Oi will start talks to restructure $14.3 billion of bonds as early as Monday, sources familiar with the situation said.

  • CAT misses on EPS, beats on revenues: CEO

    Overall I think we are near the bottom, says Doug Oberhelman, Caterpillar CEO, discussing the company's quarterly result and sharing the outlook for the company.

  • Credit Suisse branch in Geneva, Switzerland.

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

  • Bombardier said it would slash about 7,000 jobs over the next two years and ramp up hiring to support production of its struggling CSeries program.

  • Cars pass a construction site in Fajardo, near San Juan, Puerto Rico, on Dec. 1, 2015.

    A deal to restructure $8.2 billion in Puerto Rican utility debt collapsed, after lawmakers missed a deadline to approve conditions for the bond swap.

  • Alcoa shares dip as aluminum prices and demand decline

    Alcoa stock fell after reporting an 18 percent drop in revenue as the metals maker shifts its legacy business to auto and aerospace, reports CNBC's Landon Dowdy.

  • Best bets for the markets now

    Bruce Richards, Marathon Asset Management, shares his outlook on the markets and weighs in on where he is seeing the best investment opportunities now.

  • The new normal for banks?

    David Boehmer, European managing partner at Heidrick & Struggles, says bank models and banking culture are in a period of restructuring and change.

  • AIG's big quarterly miss: Analyst

    Randy Binner, FBR Capital Markets breaks down AIG's quarterly results and shares his thoughts on activist Carl Icahn's call to break up the company into three separate parts.

  • What will BNP Paribas restructuring look like?

    Lars Machenil, CFO of BNP Paribas, talks about some of the plans for the bank, but did not rule out potential job cuts in order to reduce costs.