*Key credit facility extended by 3 months to Jan.15. Sept 8- North American lenders to Noble Group have again extended the deadline for a $2 billion credit facility, this time by three months to Jan. 15, the commodity trader said on Thursday. The heavily indebted company, once Asia's commodity trading powerhouse, has been slashing jobs and selling assets to cut debt...
NEW YORK, Sept 6- Toys "R" Us Inc has hired law firm Kirkland& Ellis LLP to help weigh restructuring options ranging from a bankruptcy filing to raising financing as bricks and mortar retail goes through a major downturn, according to a person familiar with the matter. The privately held toy retailer had previously said it was working with investment bank Lazard Ltd...
WASHINGTON, Sept 6- The U.S. agency charged with protecting consumers from financial abuse took on a little-understood area of payday lending, where websites sell information on people looking for short-term, small loans, and fined a California company on Wednesday for steering borrowers into illegal and bad debts. The U.S. Consumer Financial Protection...
The projects guaranteed by the loan included China Power Investment Corp's planned alumina refinery and Aluminium Corp of China's bauxite project, both in Boffa, northwest Guinea, Mines Minister Abdoulaye Magassouba told Reuters.
FRANKFURT, Sept 5- Lilium, a German start-up with Silicon Valley- scale ambitions to develop a 5- passenger "flying taxi", has raised a second, $90 million round of financing from top tech investors, making it one of the best-funded electric aircraft projects to date. The company, which took in $11.4 million only last year, has emerged as one of Europe's hottest...
SINGAPORE, Sept 5- Noble Group is in discussions with its North American lenders to extend an October deadline for a $2 billion credit facility, while also taking steps to sell parts of its business to cut debt, its chairman said on Tuesday. Paul Brough, a board member and restructuring veteran, who took over as the commodity trader's chairman in May, told...
FRANKFURT, Sept 5- Lillium, a German start-up with Silicon Valley- scale ambitions to develop a 5- passenger "flying taxi," has raised a second, $90 million round of financing from top tech investors, making it one of the best-funded electric aircraft projects to date. The company, which took in $11.4 million only last year, has emerged as one of Europe's hottest...
Sept 4- Avocet Mining said on Monday its subsidiary Societe des Mines de Belahouro, which operates the Inata gold mine in Burkina Faso, may file for insolvency after a loan repayment freeze with its creditors expired. In Burkina Faso, the company owns 90 percent of the Inata Gold Mine that produced 72,485 ounces of gold in 2016.. The West Africa- focused company...
SAO PAULO, Aug 31- A new law allowing Brazilian companies to electronically register receivables and other guarantees as collateral could accelerate corporate loan disbursements and cut interest rates in the segment, Valor Econômico newspaper reported on Thursday. The law, which was signed by President Michel Temer on Wednesday, will pave the way for the...
ABIDJAN, Aug 30- Cameroon's economic growth rate will slip to around 4 percent this year, down from a revised 2016 rate of 4.5 percent because of a slowdown in its oil and gas sector, the International Monetary Fund said on Wednesday. The IMF approved a $666 million, three-year extended credit facility in June for Cameroon, which has been hit hard by the global...
LAGOS, Aug 30- Nigeria's Access Bank said on Wednesday it had booked a 4 billion naira impairment on its loan to troubled telecoms firm 9 mobile, formerly known as Etisalat Nigeria. Access Chief Executive Herbert Wigwe said the bank had a direct exposure of 11 billion naira to 9 mobile, as well as an exposure of 35- 39 billion naira to the telecoms firm's suppliers.
LAGOS, Aug 30- Nigeria's Access Bank said on Wednesday it had booked a 4 billion naira impairment on its loan to troubled telecoms firm 9 mobile, formerly known as Etisalat Nigeria. Access Chief Executive Herbert Wigwe said the bank had a direct exposure of 11 billion naira to 9 mobile, as well as an exposure of 35- 39 billion naira to the telecoms firm's suppliers.
NIGERIA'S ACCESS BANK SAYS EXPECTS TO RECOVER ITS LOAN ONCE THE COMPANY IS SOLD TO NEW INVESTORS- CEO.
*Four of China's Big Five post consesnus-beating Q2 profit growth. BEIJING, Aug 30- Four of China's top five state-owned banks, including Industrial and Commercial Bank of China Ltd and Bank of China Ltd, posted a better-than-expected rise in quarterly profits as margins and bad loan levels stabilized. ICBC, China's top bank by assets, posted a net profit of 77.2...
*Four of China's Big Five post consesnus-beating Q2 profit growth. BEIJING, Aug 30- Four of China's top five state-owned banks, including Industrial and Commercial Bank of China Ltd and Bank of China Ltd, posted a better-than-expected rise in quarterly profits as margins and bad loan levels stabilised. ICBC, China's top bank by assets, posted a net profit of 77.2...
TOKYO/ SINGAPORE, Aug 30- Toyota Motor Corp's trading arm became the latest participant in ride-hailing firm Grab's current financing round that is expected to raise $2.5 billion, led by Chinese peer Didi Chuxing and Japan's SoftBank Group Corp.. Under a pilot program, Toyota will have its TransLog device installed in 100 rental cars operated by Singapore-...
LIMA, Aug 29- Peru's state-owned oil company Petroperu plans to sell $1 billion in bonds in 2019 to secure remaining financing for the expansion of its Talara refinery, the company's president said Tuesday. Speaking on local broadcaster RPP, Luis Garcia also reiterated that the company expects $1.3 billion in financing for the $5.4 billion project to come from...
BUENOS AIRES, Aug 28- Argentina's government approved the construction of two hydroelectric dams in the southern Patagonia region after holding public hearings as required by the Supreme Court, according to a notice in the Official Gazette on Monday. The dams in Santa Cruz province will be constructed by China Gezhouba Group Co Ltd, which holds a majority...
SYDNEY, Aug 28- Australia's prudential regulator said on Monday it will establish an inquiry into governance, culture and accountability at the country's biggest bank in the wake of alleged breaches of money-laundering and counter-terrorism financing rules. Australia's corporate regulator, the Australian Securities and Investment Commission, has also...
CAMPOS DO JORDÃO, Brazil, Aug 26- Brazil's economy could be growing at a pace of 2 percent in annualized terms by year-end, reflecting drastic corporate debt-reduction efforts and slowing inflation that is spurring spending, Finance Minister Henrique Meirelles said on Saturday. As part of a series of policy announcements, Meirelles said a revision of...
