Unions reach job-saving deal at French courier firm

PARIS Thu Jan 30, 2014 5:10am EST PARIS Jan 30 (Reuters) - Unions at France's second-biggest courier business have agreed a deal that saves 2,150 jobs but offers little solace to French President Francois Hollande's efforts...

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Germany's Strauss department stores seek creditor protection

DUESSELDORF, Germany Thu Jan 30, 2014 10:14am EST DUESSELDORF, Germany Jan 30 (Reuters) - Strauss Innovation, a German chain of small department stores, said on Thursday it was seeking protection from creditors to try and...

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Germany's Schaeuble wants tougher rules after wind park insolvency

BERLIN Thu Jan 30, 2014 4:28pm EST BERLIN Jan 30 (Reuters) - Germany needs to improve regulation and supervision of financial markets in order to protect investors, including those who have been affected by this month's...

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Detroit museum pledges to raise $100 million for art, city pensions

DETROIT Wed Jan 29, 2014 5:18pm EST DETROIT Jan 29 (Reuters) - The Detroit Institute of Art (DIA) said on Wednesday its board of directors approved a commitment to raise $100 million to help protect its art collection and...

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UPDATE 1-Detroit presents debt adjustment plan to creditors

Wed Jan 29, 2014 5:32pm EST Jan 29 (Reuters) - Detroit's creditors got their first look Wednesday at the city's proposed plan to adjust its debt and emerge from bankruptcy, though no details were immediately available....

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WR Grace's bankruptcy exit financing deal gets court approval

Wed Jan 29, 2014 5:37pm EST Jan 29 (Reuters) - Chemical maker W.R. Grace & Co received approval to line up about $1.55 billion in bankruptcy exit financing, a court filing showed on Tuesday.Grace will use the money to pay all outstanding claims,...

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Brazil's Óleo e Gás may use assets to guarantee loans - judge

SAO PAULO Tue Jan 28, 2014 8:10am EST SAO PAULO Jan 28 (Reuters) - Bankrupt oil producer Óleo e Gás Participações SA, controlled by Brazilian tycoon Eike Batista, received court authorization late Monday to use its assets to guarantee a loan critical...

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Foundation pledges for Detroit pensions, art rise to $370 mln

Tue Jan 28, 2014 4:54pm EST Jan 28 (Reuters) - Foundations seeking to protect Detroit's public pensions and its art museum in the city's bankruptcy process raised their pledge total to $370 million on Tuesday with the addition of a $40 million commitment...

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Batista's Oleo e Gas denied more time to develop several oil finds

By Sabrina Lorenzi RIO DE JANEIRO Tue Jan 28, 2014 6:52pm EST RIO DE JANEIRO Jan 28 (Reuters) - Brazil's oil regulator ANP denied a request by Brazilian businessman Eike Batista's bankrupt Óleo e Gás Participações SA...

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Michigan plan for Detroit pensions snubs bondholders -Fitch

Mon Jan 27, 2014 2:23pm EST Jan 27 (Reuters) - Michigan Governor Rick Snyder's proposal to allocate $350 million in state funds towards Detroit's pensions is another troubling sign for bondholders that could ultimately...

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Detroit mayor plans to get more tax by cutting property assessments

Mon Jan 27, 2014 5:28pm EST Jan 27 (Reuters) - With Detroit's revenue from property taxes expected to come in at only $118.4 million in the current fiscal year, Detroit Mayor Mike Duggan announced a plan on Monday to lower...

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Brazil regulator to mull revoking block rights of Batista oil company

RIO DE JANEIRO Mon Jan 27, 2014 5:53pm EST RIO DE JANEIRO Jan 27 (Reuters) - Brazil's ANP oil regulator said on Monday it would decide over the next 60 days whether to revoke the exploration rights for blocks controlled by Óleo e Gás Participações...

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Prokon insolvency attracts possible buyers of assets, rights

Fri Jan 24, 2014 11:12am EST * Capital Stage interested in wind parks * Dutch hedge fund to make offer for profit participation rights * Prokon filed for insolvency on Wednesday DUESSELDORF, Germany, Jan 24 (Reuters)...

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UPDATE 2-Batista's Brazil oil firm in fresh funding talks-sources

Fri Jan 24, 2014 4:55pm EST By Guillermo Parra-Bernal SAO PAULO, Jan 24 (Reuters) - Bankrupt oil producer Óleo e Gás Participações SA has delayed detailing its restructuring plan to creditors until Jan. 31 as it...

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One KKR rep resigns Energy Future Holdings board, 2 others remain

By Nick Brown Fri Jan 24, 2014 9:13pm EST Jan 24 (Reuters) - KKR & Co's Marc Lipschultz has resigned from the board of directors of Energy Future Holdings, the embattled power giant taken private by KKR and others...

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Prokon insolvency attracts possible buyers of assets, rights

Fri Jan 24, 2014 11:12am EST * Capital Stage interested in wind parks * Dutch hedge fund to make offer for profit participation rights * Prokon filed for insolvency on Wednesday DUESSELDORF, Germany, Jan 24 (Reuters)...

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UPDATE 2-Batista's Brazil oil firm in fresh funding talks-sources

Fri Jan 24, 2014 4:55pm EST By Guillermo Parra-Bernal SAO PAULO, Jan 24 (Reuters) - Bankrupt oil producer Óleo e Gás Participações SA has delayed detailing its restructuring plan to creditors until Jan. 31 as it...

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One KKR rep resigns Energy Future Holdings board, 2 others remain

By Nick Brown Fri Jan 24, 2014 9:13pm EST Jan 24 (Reuters) - KKR & Co's Marc Lipschultz has resigned from the board of directors of Energy Future Holdings, the embattled power giant taken private by KKR and others...

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UPDATE 1-Michigan wants 50,000 visas to bring immigrants to Detroit

Thu Jan 23, 2014 7:07pm EST (Adds comment from AFL-CIO spokesman) By Joseph Lichterman DETROIT Jan 23 (Reuters) - Michigan Governor Rick Snyder on Thursday called for the U.S. government to set aside 50,000 special...

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Michigan governor defends state money for Detroit pensions

DETROIT Thu Jan 23, 2014 8:01pm EST DETROIT Jan 23 (Reuters) - As retirees and lawmakers began leveling criticism at Michigan Governor Rick Snyder's plan to use $350 million of state money to reduce cuts in pension benefits...

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PRESS DIGEST- New York Times business news - Jan 24

Fri Jan 24, 2014 12:12am EST Jan 24 (Reuters) - The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy. * In her first extended...

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UPDATE 2-Michigan governor pushes plan to protect Detroit art, pensions

Wed Jan 22, 2014 5:32pm EST (Recasts with governor's plan; adds legislative leader comments, ruling by judge on art appraisal) Jan 22 (Reuters) - Michigan Governor Rick Snyder on Wednesday unveiled a plan to tap up to...

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Detroit judge rejects request from creditors to value city art

By Joseph Lichterman DETROIT Wed Jan 22, 2014 7:24pm EST DETROIT Jan 22 (Reuters) - The judge overseeing Detroit's bankruptcy denied a request from creditors to have an official say in valuing the city's art collection...

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UPDATE 2-China provincial govt may bail out shadow bank to avert default

Wed Jan 22, 2014 11:47pm EST * Shanxi province may provide 50 pct of rescue funds - report * ICBC, trust firm could each provide additional 25 pct - report * Parties seek to avoid landmark shadow-bank default *...

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PRESS DIGEST- New York Times business news - Jan 21

Tue Jan 21, 2014 1:14am EST Jan 21 (Reuters) - The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy. * Europe lacks a vibrant...

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Detroit's available cash drying up more slowly than feared -report

Tue Jan 21, 2014 5:29pm EST Jan 21 (Reuters) - Detroit's available cash shrank less quickly than city officials feared it would in the latest quarter, but it was still down nearly 32 percent from the previous quarter to...

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Detroit casino revenue falls in 2013

DETROIT Tue Jan 21, 2014 5:38pm EST DETROIT Jan 21 (Reuters) - Detroit is counting on taxes from the city's three casinos to help it emerge from bankruptcy, but prized as the city's casinos may be, they had a down year...

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Discount retailer Dots to file for bankruptcy - WSJ

Fri Jan 17, 2014 7:46pm EST Jan 17 (Reuters) - Discount retailer Dots LLC is preparing for a possible bankruptcy-protection filing by Sunday, as it struggles to stay afloat amid competition from online rivals, the Wall...

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Discount retailer Dots to file for bankruptcy - WSJ

Fri Jan 17, 2014 7:48pm EST Jan 17 (Reuters) - Discount retailer Dots LLC is preparing for a possible bankruptcy-protection filing by Sunday, as it struggles to stay afloat amid competition from online rivals, the Wall...

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PRESS DIGEST- New York Times business news - Jan 21

Tue Jan 21, 2014 1:14am EST Jan 21 (Reuters) - The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy. * Europe lacks a vibrant...

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Discount retailer Dots to file for bankruptcy - WSJ

Fri Jan 17, 2014 7:46pm EST Jan 17 (Reuters) - Discount retailer Dots LLC is preparing for a possible bankruptcy-protection filing by Sunday, as it struggles to stay afloat amid competition from online rivals, the Wall...

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BRIEF-Freedom Industries files for bankruptcy after West Virginia chemical spill

Fri Jan 17, 2014 3:34pm EST Jan 17 (Reuters) - * Freedom industries inc files for chapter 11 bankruptcy protection -- courtfiling * Freedom files for protection from creditors with U.S. bankruptcy court insouthern district of West Virginia * Freedom...

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Discount retailer Dots to file for bankruptcy - WSJ

Fri Jan 17, 2014 7:48pm EST Jan 17 (Reuters) - Discount retailer Dots LLC is preparing for a possible bankruptcy-protection filing by Sunday, as it struggles to stay afloat amid competition from online rivals, the Wall...

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