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Leadership Business Events

  • *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...

  • 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 could save an extra $1.5 billion in debt servicing costs over five years, compared with a prior pending deal between the parties, Governor Ricardo Rossello's...

  • TOKYO, April 5- Toshiba Corp sacked Westinghouse Electric Co's chairman two days before the U.S. nuclear engineering subsidiary filed for bankruptcy protection last week, as the Japanese firm tries to draw a line under the travails of a business that has cost it billions of dollars. A spokesman for Toshiba said Danny Roderick was replaced as Westinghouse's...

  • JAKARTA, April 5- Indonesia is trying a new approach to ease a deadlock over mining rights, promising to allow Freeport McMoRan Inc to resume concentrate exports from its Grasberg mine, the world's second-biggest copper mine. Indonesia and Freeport have sparred over rights to mine Grasberg, new taxes, royalties and divestment rules, as well as stipulations that...

  • *Dismissal designed to reassure clients before bankruptcy. TOKYO, April 5- Westinghouse Electric Co LLC fired its chairman two days before the U.S. nuclear engineering unit of Toshiba Corp filed for bankruptcy last week, as the Japanese firm tries to draw a line under the travails of a business that has cost it billions. Toshiba's spokesman said Westinghouse...

  • April 4- Cenovus Energy said on Tuesday it priced a $2.9 billion offering of senior notes to fund the acquisition of assets in Western Canada from ConocoPhillips. Last week, the company agreed to buy oil sands and natural gas assets from ConocoPhillips in a cash-and-stock deal valued at C $17.7 billion. The notes offering is expected to close on or about April 7...

  • CHICAGO, April 4- Discount footwear retailer Payless ShoeSource said it had filed for Chapter 11 protection on Tuesday with a plan to restructure debt and immediately close 400 underperforming stores in the United States and Puerto Rico. Privately owned Payless Inc joins a long list of U.S. brick-and-mortar retailers to fall victim to declining mall traffic...

  • BERLIN, April 4- Commerzbank AG, Germany's second-largest bank, has informed its works council that 7,800 jobs will be cut in Germany as part of a restructuring announced last year, the Handelsblatt newspaper reported on Tuesday. Citing an internal document from the works council, Handelsblatt said the cuts would affect almost every part of the bank and said...

  • CHICAGO, April 4- U.S. coal miner Peabody Energy Corp returned to the New York Stock Exchange on Tuesday after emerging from a year-long $8 billion Chapter 11 bankruptcy with far less debt and an industry champion in the White House. Shares in Peabody, the world's largest private-sector coal producer, were trading at $29.80 in late morning, down from an opening...

  • April 4- Ralph Lauren Corp said on Tuesday it would cut jobs and shut its flagship Polo store on Fifth Avenue in New York City, among other office and store locations, as part of a cost-cutting plan. The New York- based retailer also said on Tuesday that it would integrate its products from the Fifth Avenue store into the Ralph Lauren men's and women's flagship stores...

  • *Restructuring talks extended by 3 months to July 31. OSLO, April 4- Drill rig operator Seadrill warned investors that its shares will lose almost all of their value and its bonds will be hit as the Norwegian company prepares for potential bankruptcy proceedings to restructure $14 billion in debt and liabilities. Seadrill, which first warned in February that...