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Leadership Business Events

  • May 3- Puerto Rico announced a historic restructuring of its public debt on Wednesday, touching off what may be the biggest bankruptcy ever in the $3.8 trillion U.S. municipal bond market. The move comes a day after several major creditors sued Puerto Rico over defaults its bonds. The debt restructuring petition was filed by Puerto Rico's financial oversight...

  • PARIS, May 3- Finland's Nokia plans to sell its undersea cables unit, a business that underpins the global Internet, two union sources and a French government source told Reuters. The division, valued at about 800 million euros, is one of the top suppliers of undersea cable networks in the world and was bought by the telecom equipment maker last year as part its 15.6...

  • The request came under Title III of the PROMESA law is an in-court debt restructuring process akin to U.S. bankruptcy protection, as Puerto Rico is barred from traditional bankruptcy because it is a U.S. territory. The case was filed in U.S. District Court in Puerto Rico. "The governor needed to show that his primary allegiance lies with the citizens of Puerto Rico,...

  • BOARD SAYS IT INTENDS TO NEGOTIATE A COMPREHENSIVE DEBT RESTRUCTURING WITH CREDITORS THROUGH A TITLE III "PLAN OF ADJUSTMENT"-- COURT FILING.

  • May 2- Etsy Inc, an e-commerce site for handmade goods, on Tuesday said its chief executive would step down as it reported first-quarter profit below expectations and faced investor pressure to change course. Etsy said Chief Executive Chad Dickerson, who shepherded the company through its initial public offering two years ago, would be replaced by board member...

  • Joey Levin, chief executive officer of IAC/InterActiveCorp, left, speaks as Barry Diller, chairman of IAC/InterActiveCorp, listens during a conference in New York on Tuesday, Dec. 6, 2016.

    The merger of Angie's List and IAC's HomeAdvisor may be just the beginning of IAC's expansion into the space, CEO Joey Levin said.

  • HOUSTON/ SAO PAULO, May 2- Oil's lackluster price performance this year is unlikely to hamper Petróleo Brasileiro SA's plan to divest up to $21 billion worth of assets or find partners for exploration and refining by the end of next year, Chief Executive Officer Pedro Parente said on Tuesday. Speaking at the Offshore Technology Conference in Houston, Parente...

  • *Rome grants 600 mln euro bridge loan for six months. ROME/ MILAN, May 2- Alitalia filed to be put under special administration for the second time in less than a decade, starting a process that will lead to the loss-making Italian airline being overhauled, sold off or wound up. Rome also threw the airline a short-term lifeline by guaranteeing a bridge loan of 600...

  • ROME, May 2- Alitalia has decided to ask the government to place it under special administration, starting a process that will lead to the loss-making Italian airline being overhauled, sold off or wound up altogether. James Hogan, the CEO of Etihad Airways, which bought into Alitalia during the latest restructuring in 2014, said the Italian airline required "...

  • ATHENS, May 2- Greece has agreed to sell coal-fired plants and coal mines equal to about 40 percent of its dominant power utility Public Power Corp's coal-fired capacity, to help open up its electricity market, the energy ministry said on Tuesday. The agreement is part of a reform deal Greece and its foreign creditors reached early on Tuesday, paving the way for the...

  • ATHENS, May 2- Greece agreed with its lenders to sell coal-fired plants and coal mines equal to about 40 percent of its dominant power utility Public Power Corp's capacity, a government source said on Tuesday. Greece will hold a market test to sound out investors interested in buying coal-fired plants and mines owned by Public Power by November, aiming to wrap up...

  • Without a last-minute agreement or a move by Puerto Rico to seek an in-court debt workout similar to bankruptcy, bondholders and other creditors are expected to file a wave of litigation over the island's bond defaults starting at midnight Monday. Bond prices rose in response to Congressional negotiations late Sunday that included a $295 million boost in...

  • Without an agreement or a move by Puerto Rico to seek an in-court debt workout similar to bankruptcy, bondholders and other creditors are expected to file a wave of litigation over the island's bond defaults starting at midnight Monday. Bond prices rose in response to Congressional negotiations late Sunday that included a $295 million boost in Medicaid...

  • Community Health has a debt load of $14.69 billion and the company had said in February it would divest 25 hospitals. Net loss attributable to Tenet's shareholders narrowed to $53 million, or 53 cents per share, in the first quarter ended March 31, from $59 million, or 60 cents per share, a year earlier. Excluding items, Community Health earned 8 cents per share from...

  • The for-profit U.S. hospital operator said its net loss available to shareholders was $199 million, or $1.79 per share, compared with a net profit of $11 million, or 10 cents per share, a year earlier. Excluding items, the company earned 7 cents per share. Community Health has been looking to turn its business around by selling off some of its assets in the past few...

  • The full House of Representatives and Senate must still approve the bipartisan pact, which would be the first major legislation to clear Congress since Trump became president on Jan. 20. If it is not enacted by midnight Friday, federal agencies would have to lay off hundreds of thousands of workers and require many others to continue on the job providing law...

  • TIMIKA, Indonesia, May 1- Thousands of workers from the Indonesian unit of Freeport McMoRan Inc staged a rally near its Papua mine on Monday, a union leader said, protesting against lay offs by the miner due to a contract dispute with the government. The union representing a third of the 32,000 workforce sent a notice to Freeport on Monday threatening to strike from...

  • NEW YORK, May 1- GSO Capital Partners, private equity firm Blackstone Group LP's credit arm, is acquiring more of J. Crew Group Inc's debt, hoping for a profitable trade that could also give the U.S. fashion retailer more time to stave off bankruptcy, people familiar with the matter said. It now has $2.1 billion in debt. But holders of a $1.53 billion loan to J. Crew,...

  • The full House of Representatives and Senate must still approve the bipartisan pact, which would be the first major legislation to clear Congress since Trump became president on Jan. 20. If it is not enacted by midnight Friday, federal agencies would have to lay off hundreds of thousands of workers and require many others to continue on the job providing law...

  • NEW YORK, April 28- Puerto Rico's financial oversight board on Friday approved fiscal plans for four public agencies, including a liquidation of the island's Government Development Bank, as the struggling U.S. territory stares down a potential bankruptcy filing next week. The oversight board, appointed under the Puerto Rico rescue law known as PROMESA,...