Reuters: Company News

Pension protests block Guinea CBG bauxite factory

Wed, 16 May 2012 14:14:07 -0400

CONAKRY, May 16 (Reuters) - A railway occupation by former employees of Guinea's state bauxite company CBG, a joint venture with Alcoa and Rio Tinto, is starving its factory of ore supplies for processing, senior company officials told Reuters on Wednesday.

TEXT-S&P rates Chesapeake Energy Corp

Wed, 16 May 2012 14:10:15 -0400

May 16 - Standard & Poor's Ratings Services today assigned its 'BB-' rating to Chesapeake Energy Corp.'s $4 billion senior unsecured term loan due Dec. 2, 2017. The recovery rating is '3', which indicates our expectation of meaningful recovery (50% to 70%) in the event of a default. Standard & Poor's lowered the ratings on Chesapeake on April 26, 2012, and again on May 15, 2012. The downgrades reflected a confluence of factors, including turmoil over revelations about its CEO's personal f

UPDATE 2-Legg Mason will buy back KKR notes, repurchase more shares

Wed, 16 May 2012 14:07:12 -0400

May 16 (Reuters) - Legg Mason Inc said it plans to buy back notes held by private equity firm KKR & Co LP and repurchase additional stock, driving its shares up 11 percent.

Fund manager Kolatch likes Argentine debt

Wed, 16 May 2012 14:07:01 -0400

NEW YORK, May 16 (Reuters) - Jonathan Kolatch of $4 billion investment adviser Redwood Capital, is bullish on Argentina's sovereign debt, he said at the annual Sohn Investment Conference in New York on Wednesday.

ICE raises margins for Canola futures

Wed, 16 May 2012 14:05:50 -0400

May 16 (Reuters) - ICE Clear Canada on Wednesday raised margins for trading canola futures, effective close of business on Thursday, May 17. The exchange operator raised Canola maintenance margins by 15.8 percent to C$440 per contract from C$380, while, it also upped canola initial margins to C$594 from C$513. Initial Maintenance Non-Participant Spec. 594 CAD (+81) 440 CAD (+60)

Clinton Cards administrators to shut 350 UK stores

Wed, 16 May 2012 14:03:28 -0400

LONDON, May 16 (Reuters) - Administrators for British cards and gifts retailer Clinton Cards said on Wednesday they had decided to shut about 350 stores employing around 2,800 full-time and part-time staff.

JPMorgan still employs "whale" trader

Wed, 16 May 2012 14:02:03 -0400

May 16 (Reuters) - Bruno Iksil, the London-based JPMorgan Chase & Co trader known as the "whale" believed to have been involved in the company's $2 billion loss in derivatives, is still employed by JPMorgan, a spokeswoman for the bank said on Wednesday.

Valero: No output impact from Corpus Christi fire

Wed, 16 May 2012 13:58:55 -0400

May 16 (Reuters) - Valero Energy Corp said on Wednesday there was no impact to production from a small fire at its 142,000 barrel-per-day (bpd) Corpus Christi, Texas, refinery.

TEXT-S&P rates Rowan Cos sr unsecured notes 'BBB-'

Wed, 16 May 2012 13:56:04 -0400

May 16 - Standard & Poor's Ratings Services today assigned a 'BBB-' rating to Rowan Cos. Inc.'s proposed senior unsecured notes due 2022. The notes will be fully guaranteed by its parent company Rowan Cos. PLC (unrated). Rowan will use the proceeds from the offering to rebuild cash balances used to redeem secured debt and for future capital spending.

UPDATE 2-Protester shouts disrupt State Street annual meeting

Wed, 16 May 2012 13:55:33 -0400

BOSTON, May 16 (Reuters) - Shouting protesters calling themselves the "99 percent" disrupted State Street Corp's annual meeting on Wednesday, using a coordinated plan to interrupt Chairman and Chief Executive Jay Hooley five different times.