×

Leadership Business Events

  • TOKYO, April 14- Potential rescuers of Japan's Takata Corp have extended talks, already in their 14th month, for a deal to take over the air bag maker at the heart of the auto industry's biggest safety recall, people briefed on the process said. Car-parts maker Key Safety Systems Inc and Bain Capital LLC are the preferred bidder for Takata, whose faulty air bags have...

  • TOKYO, April 14- Toshiba Corp on Friday denied a Bloomberg report that the company had temporarily suspended all meetings and decisions over the sale of its memory chip business to address concerns raised by an industry partner. "It is not true Toshiba has put the chip sale process on hold," a Toshiba spokesman told Reuters. Shares in Toshiba plunged more than 8...

  • LONDON, April 13- Anglo-Dutch consumer group Unilever has decided to work with Morgan Stanley and Goldman Sachs on the sale of its margarine and spreads business, which was announced last week, sources told Reuters on Thursday. The sale, which could fetch as much as 6 billion pounds, is expected to kick off later this year, the sources said, following a far-reaching...

  • The government has lost millions of dollars in royalties and is worried about layoffs and a slowing economy in the restive Papua region, where the giant mine is located. Indonesia halted Freeport's copper concentrate exports under new rules that require the Phoenix, Arizona- based company to adopt a special license, pay new taxes and royalties, divest a 51...

  • SIENA, Italy, April 12- Monte dei Paschi di Siena is still negotiating with the European Commission how many jobs to cut in a radical restructuring plan that is a condition for a state rescue of the Italian bank, Chief Executive Marco Morelli said on Wednesday. The European Central Bank has since put the capital shortfall that the bank must fill at 8.8 billion euros.

  • VW Group of America Chief Executive Officer Hinrich Woebcken told reporters at the New York auto show that the automaker planned to build a five-seat SUV in Tennessee, but he declined to say when production would begin. The news follows VW's 2014 announcement that the company would spent $900 million to build a new SUV in Tennessee. Woebcken said VW was shifting...

  • *Broadcom offered highest bid of $23 bln- source. TOKYO, April 12- Western Digital Corp has warned Toshiba Corp that the Japanese firm is violating a joint venture contract in plans to sell to its chip unit and urged that it be given exclusive negotiating rights. In a strongly worded letter dated April 9, Western Digital, which operates a semiconductor plant with...

  • NEW YORK, April 12- Volkswagen AG's top U.S. executive said the German automaker plans to build another new sport utility vehicle at its Chattanooga, Tennessee plant as demand surges for larger vehicles. The world's largest automaker said in 2014 it planned $900 million to build a new SUV in Tennessee and VW will start selling its new seven-seat VW Atlas SUV in May.

  • NEW YORK, April 12- Bankruptcy for Puerto Rico is looking ever more likely as the clock ticks down toward a May 1 deadline to restructure $70 billion in debt, ramping up uncertainty for anyone betting on returns from the island's widely held U.S. municipal bonds. Congress last year passed the Puerto Rico rescue law dubbed PROMESA, it froze creditor lawsuits...

  • The government has lost millions of dollars in royalties and is worried about layoffs and a slowing economy in the restive Papua region, where the giant mine is located. Indonesia halted Freeport's copper concentrate exports under new rules that require the Phoenix, Arizona- based company to adopt a special license, pay new taxes and royalties, divest a 51...

  • *Comes as other Singapore- listed firms grapple with debt. SINGAPORE, April 12- Rickmers Maritime, a Singapore- listed trust that operates container ships, said it would be wound up as it has been unable to reach an agreement with its lenders to restructure debt or raise new equity. Struggling in the wake of a global shipping downturn, Rickmers joins other Singapore-...

  • NEW YORK, April 12- Bankruptcy for Puerto Rico is looking ever more likely as the clock ticks down toward a May 1 deadline to restructure $70 billion in debt, ramping up uncertainty for anyone betting on returns from the island's widely held U.S. municipal bonds. Congress last year passed the Puerto Rico rescue law dubbed PROMESA, it froze creditor lawsuits...

  • Vornado has a joint venture in the building with Kushner Cos, a real estate company whose chief executive until recently was Jared Kushner, an adviser to Trump who is married to Trump's daughter Ivanka. "Kushner Cos is in active, ongoing discussions around 666 Fifth Avenue," spokesman James Yolles said in a statement. Kushner said two weeks ago it ended talks to...

  • Vornado has a joint venture in the building with Kushner Cos., a real estate company whose chief executive until recently was Jared Kushner, an adviser to Trump who is married to Trump's daughter Ivanka. "Kushner Cos. is in active, ongoing discussions around 666 Fifth Avenue," spokesman James Yolles said in a statement. Kushner said two weeks ago it ended talks to...

  • CHARLESTON, S.C., April 10- Volvo Cars would suffer if the United States enacts taxes on imported goods, even as the company prepares to hire up to 4,000 workers for a new plant in South Carolina, the head of its North American operations said. Volvo plans to open its $500 million South Carolina factory in late 2018. Volvo decided in 2014 to locate its first North...

  • WASHINGTON, April 7- U.S. job growth slowed sharply in March amid continued layoffs in the retail sector, but a drop in the unemployment rate to a near 10- year low of 4.5 percent suggested the labor market was still tightening. Nonfarm payrolls increased by 98,000 jobs last month, the fewest since last May, Labor Department said on Friday. If you look at the...

  • NEW YORK, April 6- Puerto Rican power utility PREPA and its creditors have reached a new deal to restructure $8.9 billion in debt through new bonds with longer maturities, the U.S. territory's government announced on Thursday. The agreement, which must be approved by Puerto Rico's federally appointed oversight board, could save $2.2 billion in debt servicing...

  • BUENOS AIRES/ LONDON, April 6- Archer Daniels Midland Co is restructuring its operations in Argentina in a move that will include job losses as part of a wider shake-up at the U.S. agribusiness group, three sources familiar with the plans said this week. In the latest development, ADM late last month shuttered its Toepfer grains trading unit, which had been based...

  • NEW YORK, April 6- Puerto Rican power utility PREPA and its bondholders have reached a new deal to restructure $8.9 billion in debt, the U.S. territory's government announced on Thursday. The agreement, which still needs approval by Puerto Rico's federally appointed oversight board, could save $2.2 billion in debt servicing costs over five years, Governor...

  • April 6- Rue21 Inc is preparing to file for bankruptcy as early as this month, according to people familiar with the matter, as the U.S. teen fashion retailer faces a big debt pile and declining foot traffic. The chain, which sells budget-priced clothing and accessories at about 1,100 stores in malls, strip centers and outlet centers across the United States, is...