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Thomas Cook has approached UK government for bailout funds: FT

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FILE PHOTO: A pedestrian walks past a Thomas Cook shop in central London, November 26, 2014. REUTERS/Suzanne Plunkett/File Photo (Reuters) – Britain’s Thomas Cook Group Plc (TCG.L) has approached the UK government for a bailout in an attempt to save itself from collapse after its lenders threatened to pull out of a proposed rescue deal, Read More

McDermott to explore sale of Lummus Technology unit; shares jump 50%

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By Simon Casey on 9/20/2019 NEW YORK (Bloomberg) – McDermott International, the energy industry contractor whose bonds and shares plunged this week, said it’s weighing the sale of its Lummus Technology business after getting approaches that valued the unit at more than $2.5 billion. The shares soared. The company also said Friday that it continues Read More

McDermott rebounds as it weighs unit sale to boost liquidity

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By Simon Casey on 9/20/2019 NEW YORK (Bloomberg) – McDermott International’s shares doubled in early trading and its bonds jumped after the energy industry contractor said it’s exploring the sale of its Lummus Technology business, a move that may give the heavily indebted company some badly needed liquidity. Expressions of interest value the unit at Read More

Cloud and clear: Tencent draws on gaming tech to lift B2B cloud ambitions

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SHENZHEN, China/SHANGHAI (Reuters) – Tech giant Tencent Holdings Ltd (0700.HK) plans to leverage its strengths in video games and social media to grab market share in China’s burgeoning cloud computing sector from incumbent Alibaba, the head of its cloud unit told Reuters. Dowson Tong, head of Tencent’s Cloud and Smart Industries Group, poses at Tencent Read More

Exclusive: Venezuela opposition eyes U.N. asset protection as option to save Citgo

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CARACAS (Reuters) – Venezuela’s opposition is preparing to seek an asset protection program from the United Nations to prevent creditors from seizing the country’s crown jewel overseas asset, U.S. refiner Citgo, a lawmaker and two opposition sources told Reuters. FILE PHOTO: FILE PHOTO: The logo of PDVSA’s U.S. unit Citgo Petroleum is seen at a Read More

McDermott is said to hire restructuring firm for turnaround advice

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By Allison McNeely and David Wethe on 9/19/2019 NEW YORK (Bloomberg) – McDermott International hired restructuring firm AlixPartners for strategic and operational advice as the company seeks to shore up its balance sheet, according to a person with knowledge of the matter. The Houston-based company’s stock plunged as much as 76% Wednesday — trading was Read More

Greenfields Petroleum Corporation Announces Extension of Senior Debt Payment

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HOUSTON, Sept. 18, 2019 (GLOBE NEWSWIRE) — Greenfields Petroleum Corporation (the “Company” or “Greenfields”) (TSX VENTURE: GNF), a production focused company with operating assets in Azerbaijan, announces the execution of a deferral letter with its senior debt lender, Vitol Energy (Bermuda) Ltd. (“Vitol”), to defer payments in the aggregate of $14.3 million (including restructuring fee-$1.4m) Read More

Deutsche Telekom to take on telecom ops from slimmed-down T-Systems

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BONN, Germany (Reuters) – Deutsche Telekom is taking back responsibility for corporate telecoms clients from its restructured T-Systems unit, which will emerge as a slimmed-down operation focused on IT and digital services. FILE PHOTO: Adel Al-Saleh, member of the board of Deutsche Telekom AG and CEO of T-Systems of Germany’s telecommunications giant Deutsche Telekom is Read More

Kroger’s doubts about turnaround targets cloud quarterly profit beat

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(Reuters) – Kroger Co (KR.N) on Thursday raised doubts about its profit targets from an ongoing turnaround plan, even as the supermarket chain operator posted a better-than-expected quarterly profit, helped by its investments in delivery and online operations. The retailer has been rapidly growing its online business by expanding delivery options under the three-year “Restock Read More

Providence Resources P.l.c. – Conditional Placing to raise US$3.76 million

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THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION THIS ANNOUNCEMENT AND THE INFORMATION IN IT, IS RESTRICTED, AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN, SWITZERLAND OR SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT FURTHER, THIS ANNOUNCEMENT Read More