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Leadership Business Events

  • *Flags loss of $1.1 bln to $1.25 bln for Q3. SINGAPORE, Oct 23- Struggling commodities trader Noble Group agreed to sell its Americas- focused oil liquids business to Vitol for about $580 million as part of a debt-cutting strategy, and warned of a big loss for its third quarter. In a statement on Monday, Noble also warned of a total net loss of $1.1 billion to $1.25...

  • SINGAPORE, Oct 23- Struggling Noble Group agreed to sell its Americas- focused oil liquids business to Vitol for about $580 million, as part of its strategy to shrink its businesses to cut debt. In a statement on Monday, Noble said the gross consideration of the sale would be $1.4 billion and after deducting indebtedness of about $836 million, the cash proceeds...

  • SINGAPORE, Oct 23- Struggling Noble Group agreed to sell its Americas- focused oil liquids business to Vitol for a gross consideration of $1.4 billion, as part of its strategy to shrink its businesses to cut debt.

  • SAO PAULO, Oct 20- The judge overseeing phone carrier Oi SA's bankruptcy case agreed on Friday to give creditors and the company more time to reconcile competing restructuring proposals, 16 months into Brazil's largest in-court reorganization. Others, all holding claims on debt-laden Oi, included the Ad Hoc Group of Oi Bondholders, Banco do Brasil, state...

  • SAN FRANCISCO, Oct 20- Social media company Snap Inc said on Friday it had laid off 18 people in its recruiting division, an unusual move for a young company with ambitious growth plans and a likely reflection of tough competition from Facebook Inc.. Venice, California- based Snap, the parent company of messaging app Snapchat, declined to comment beyond its...

  • SAN FRANCISCO, Oct 20- Snap Inc said on Friday it had laid off 18 employees in its recruiting division, a move to cut costs as the parent company of messaging app Snapchat faces competition from Facebook Inc for users and advertising dollars.

  • WILMINGTON, Del., Oct 20- A U.S. appeals court in New York on Friday ruled in favor of senior creditors who had contested interest rates imposed on them during the bankruptcy of silicone maker Momentive Performance Materials, reversing a decision that had sparked alarm among lenders. The ruling by the 2nd U.S. Circuit Court of Appeals found the U.S. Bankruptcy Court...

  • SAO PAULO, Oct 20- Several groups of Oi SA creditors have requested the postponement of a meeting scheduled for Monday to discuss the Brazilian phone carrier's bankruptcy protection process, a representative for a key bondholder group said on Friday. Oi Chief Executive Officer Marco Schroeder told journalists in Brasilia the carrier is "totally prepared" for...

  • Oct 20- Drugmaker Merck& Co Inc, moving to a new sales team structure in the United States, plans to cut 1,800 sales positions, while adding 960 jobs to a new chronic care sales force, the company said on Friday. The aim is "to better support changes in our business in the United States," she said. Merck's stock was little changed in midday trading on the New York Stock...

  • Oct 20- Drugmaker Merck& Co Inc, moving to a new sales team structure in the United States, plans to cut 1,800 sales positions, while adding 960 jobs to a new chronic care sales force, the company said on Friday. The aim is "to better support changes in our business in the United States," Gillespie said. Merck said none of the jobs being eliminated are being moved outside of...

  • KIEV, Oct 19- Ukraine's anti-monopoly committee has given commodities trader Glencore the green light to take a stake in Ukraine's Mykolaiv plant, the second-largest alumina asset of Russia's Rusal. With annual output of 1.6 million tonnes, Mykolaiv is Ukraine's largest producer of alumina, used in aluminium production. Ukraine has imposed economic and...

  • The two-level store in Manhattan's Herald Square, not far from the Macy's flagship, is about one-third the size of Target's average store. The Herald Square store is among 12 mostly small-format stores opening this week in urban markets like Chicago, Los Angeles and Philadelphia. While all retailers need to worry about online growth and the expansion of Amazon,...

  • FRANKFURT, Oct 19- Siemens may cut thousands of jobs as part of plans to overhaul its power turbine business, where growth in renewable energy is dampening demand for new coal and gas power stations, a person familiar with the matter said. Separately, Bloomberg cited sources as saying that Siemens also planned to restructure its Process Industries and Drives...

  • DUBAI, Oct 19- Saudi Arabia's plans to sell state assets- including a stake in energy giant Saudi Aramco- are becoming even more important to its finances as a recession slows Riyadh's effort to close a budget deficit caused by low oil prices. Last December, Riyadh released a plan to abolish the deficit by 2020, cutting it from $79 billion or 12.3 percent of gross...

  • OSLO, Oct 19- Norwegian outdoor clothing company Helly Hansen has agreed to buy British sports brand Musto from Phoenix Equity Partners and other shareholders for an undisclosed sum, it said on Thursday. The Wall Street Journal reported on Wednesday that the deal could be valued at around 50 million pounds, citing an anonymous source. Helly Hansen, founded in...

  • LONDON, Oct 19- Standard Chartered closed some bank accounts linked to the Gupta family in South Africa in 2014, a spokeswoman for the bank said on Thursday. Britain's Financial Conduct Authority separately said it is in contact with StanChart and HSBC following reports in British newspapers that Britain's finance minister has asked regulators to...

  • NEW YORK— Blue Apron is cutting about 320 jobs, less than four months after the meal-kit seller became a public company. New York- based Blue Apron, which had nearly 5,400 employees in June, said Wednesday the layoffs represent about 6 percent of its workforce. Blue Apron has been facing increasing competition.

  • NEW YORK— The owner of Romano's Macaroni Grill filed for Chapter 11 bankruptcy protection Wednesday, blaming its falling fortunes on the changing tastes of diners who increasingly don't want to eat at sit-down restaurant chains. Romano's Macaroni Grill and its rivals have been losing customers to cheaper and faster chains. Romano's Macaroni Grill's owner...

  • Oct 18- Health insurer Anthem Inc said on Wednesday it signed a five-year agreement with drug retailer CVS Health Corp to support its newly launched pharmacy benefit management business. The news comes at a time when Anthem is close to expiration of its current contract with pharmacy benefit manager Express Scripts Holding Co.. Shares of CVS Health were up 1.6...

  • WASHINGTON, Oct 17- General Electric has agreed to make payments to the U.S. government after failing to divest a subsidiary as quickly as agreed following a merger approval, the Justice Department said on Tuesday. The department, which did not say how big the payments are, said that they are to begin on Jan. 1 and continue "until the divestitures in each...