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Exclusive: Boeing in Talks With Alaska Airlines for Potential 737 MAX Order – Sources | Investing News

October 10, 2020
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By Eric M. Johnson and Tracy Rucinski

SEATTLE/CHICAGO (Reuters) – Boeing Co

is in discussions to sell 737 MAX jets to Alaska Airlines once the plane returns to service following a lengthy grounding, three people familiar with the matter said.

The talks are part of a series of negotiations between Boeing and several airlines over jet orders or compensation after the 737 MAX was banned worldwide following two fatal crashes.

Boeing and Alaska Airlines, which is part of Alaska Air Group Inc

, declined to comment.

Any deal would be subject to U.S. Federal Aviation Administration approval of proposed 737 MAX safety upgrades.

Boeing shares were up 1.6% at $167.22 on Thursday afternoon, while Alaska Air stock was up 4.1% at $38.54.

Alaska Airlines already had ordered 37 of the jets before the grounding. If confirmed, a new order from such a major carrier would give Boeing’s 737 MAX a

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Foreign-Backed Consortium in Talks for Petrobras Gas Fields in Brazil, Sources Say | Investing News

October 8, 2020
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By Gram Slattery and Carolina Mandl

RIO DE JANEIRO/SAO PAULO (Reuters) – A consortium of Brazil’s 3R Petroleum and Norway-linked DBO Energy is in bilateral talks with Brazil’s Petrobras to purchase a cluster of offshore natural gas fields, according to two sources with direct knowledge of the matter.

The Peroa cluster, located off the coast of Espirito Santo state, would be among the first all-gas offshore fields sold by Petrobras amid a larger push to break the company’s near-monopoly in Brazil’s natural gas value chain.

Petroleo Brasileiro SA , as the state-controlled firm is formally known, has long dominated most segments of the Brazilian natural gas sector. But in recent years, it has begun selling off pipelines and assets in transport and distribution, in a move the company and the government hope will spur competition.

Several international firms already produce significant amounts of natural gas in Brazil, as they operate

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Exclusive: Chevron workers face demands to reapply for jobs under global restructuring – sources

October 8, 2020
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By Jennifer Hiller, Devika Krishna Kumar

The logo of Chevron is seen at the company’s office in Caracas, Venezuela April 25, 2018. REUTERS/Marco Bello/Files

HOUSTON/NEW YORK (Reuters) – Chevron Corp employees worldwide are being asked to reapply for positions as part of a cost-cutting program expected to eliminate up to 15% of its workforce, people familiar with the matter said.

The No. 2 U.S. oil producer has begun taking steps to streamline its organization this year to reduce costs and revive declining profits. Oil companies have posted huge losses on asset writedowns and slashed spending as economic downturns caused by the COVID-19 pandemic undercut fuel demand.

Employees who are not chosen for jobs should know within weeks, Chief Executive Michael Wirth said in an interview on Monday. He did not discuss how cuts would be decided nor how many employees were asked to reapply for positions.

The company took a

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Chevron workers face demands to reapply for jobs under global restructuring – sources

October 8, 2020
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Yardeni Research President Edward Yardeni and Cornerstone Macro Co-Founder Nancy Lazar discuss the September jobs report.

Chevron Corp employees worldwide are being asked to reapply for positions as part of a cost-cutting program expected to eliminate up to 15% of its workforce, people familiar with the matter said.

Ticker Security Last Change Change %
CVX CHEVRON CORP. 73.78 +1.48 +2.05%

The No. 2 U.S. oil producer has begun taking steps to streamline its organization this year to reduce costs and revive declining profits. Oil companies have posted huge losses on asset writedowns and slashed spending as economic downturns caused by the COVID-19 pandemic undercut fuel demand.

LAYOFFS ON THE RISE AMID SLOW COVID-19 RECOVERY

Ticker Security Last Change Change %
USO UNITED STATES OIL FUND L.P. 28.39 0.00 0.00%

Employees who are not chosen for jobs should know within weeks, Chief Executive Michael Wirth said in an interview on Monday.

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EXCLUSIVE-Saudi PIF in talks to buy stake in UAE supermarket chain Lulu -sources

October 7, 2020
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By Hadeel Al Sayegh and Saeed Azhar

DUBAI, Oct 7 (Reuters) – Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), is in early discussions to buy a stake in supermarket chain Lulu Group International, two sources familiar with the matter told Reuters.

It is in talks with Indian-born businessman Yusuff Ali, who founded Abu Dhabi-based Lulu, one of the largest chains in the Gulf region, the sources said.

Discussions between PIF and Lulu began four to six weeks ago, one of the sources said.

It was not immediately clear how big a stake PIF is seeking to buy as discussions are at an early stage, or whether the talks would lead to a final transaction.

Lulu operates shopping centres, hypermarkets and other businesses with an annual turnover of $7.4 billion, according to its website.

It has operations in Saudi Arabia and other Gulf states as well as

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Nasdaq Inc. in talks with Texas Gov. Abbott about relocating trading systems to D-FW, sources say

October 7, 2020
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Nasdaq Inc. is in talks with Texas Gov. Greg Abbott about potentially relocating the exchange’s electronic trading systems from New Jersey to Dallas-Fort Worth, according to two sources familiar with the discussions.

Other trading exchanges also could be involved in the discussions, both sources said.

Nasdaq is planning a visit to Texas to meet with the governor, according to one of the sources. Leaders of the exchange have had “a great dialogue” with Abbott, the source said.

The exchange, which has 87 employees in the state, is intrigued by an opportunity touted by Abbott to power its electronic infrastructure with renewable energy from wind farms in the state, according to one of the sources. Nasdaq is the trading platform for many of the nation’s environmentally conscious companies.

When Facebook invested $1 billion in building its massive data center at AllianceTexas north of Fort Worth, it struck a deal to buy

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Chinese Pet Clinic Picks Banks for $500 Million IPO, Sources Say

October 6, 2020
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(Bloomberg) — New Ruipeng Pet Healthcare Group Co. has chosen banks to lead an initial public offering that could raise more than $500 million, according to people familiar with the matter.



A dog's paws rest at the base of an acupuncture stand at the GuoGuo TCM (Traditional Chinese Medicine) Neurology and Acupuncture Animal Health Center in Shanghai, China, on Saturday, Feb. 10, 2018. China enters the lunar Year of the Dog on Feb. 16.


© Bloomberg
A dog’s paws rest at the base of an acupuncture stand at the GuoGuo TCM (Traditional Chinese Medicine) Neurology and Acupuncture Animal Health Center in Shanghai, China, on Saturday, Feb. 10, 2018. China enters the lunar Year of the Dog on Feb. 16.

The Chinese pet clinic operator picked China International Capital Corp., Credit Suisse Group AG and Morgan Stanley for the planned listing, which could take place as soon as early next year, the people said. The company is considering Hong Kong or the U.S. as a potential listing venue but hasn’t made a final decision, said the people, asking not to be identified as the information is private.

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The Hillhouse Capital-backed firm completed

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Colombia to substitute some planned dollar financing for $1.3 bln in bonds -sources

October 5, 2020
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By Nelson Bocanegra

BOGOTA, Oct 5 (Reuters) – Colombia plans to substitute some of its planned 2020 financing in dollars for a local debt emission of about 5 trillion pesos ($1.28 bln), three market sources with knowledge of the plan told Reuters on Monday.

The ministry will extend auctions of local so-called TES bonds until November in order to raise the projected funds.

TES paper is the country’s second top source of financing after tax collection.

The Finance Ministry plans to move ahead with pre-financing needs for 2021 and is considering an internal debt swap on the local market, the sources said.

The ministry did not have an immediate response to a request for comment.

In early September, director of public credit Cesar Arias told Reuters Colombia would carry out public debt swaps with multilateral banks to reduce its exchange rate exposure amid higher debt due to coronavirus and

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Warburg Pincus-backed Sequoia raises $179 mln in Brazil IPO – sources

October 5, 2020
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Adds details, background

SAO PAULO, Oct 5 (Reuters) – Brazilian logistics company Sequoia Solucoes Logisticas SEQL3.SA raised 1 billion reais ($179.39 million) in an initial public offering priced on Monday, according to two people familiar with the matter.

The company, which has U.S. private equity firm Warburg Pincus as controlling shareholder, priced its shares at 12.40 reais each, bellow the bottom of its price range, which was set at between 14.25 reais and 17.75 reais.

Both the company and its shareholders sold shares in the offering, which was managed by investment banks Banco BTG Pactual SA, Santander, Morgan Stanley and ABC Brasil.

IPOs by Brazilian companies have faced lower-than-expected demand amid concerns about Brazil’s fiscal discipline and a huge pipeline of deals.

Still, a source said that 56% of the shares sold in the offering have been acquired by foreign investors, above the 40% average seen this year.

($1

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EXCLUSIVE-Warburg Pincus, Gavea ready IPO of Brazil facilities company GPS -sources

October 5, 2020
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By Carolina Mandl

SAO PAULO, Oct 5 (Reuters) – Private equity firms Warburg Pincus WP.UL and Gavea Investimentos are planning an initial public offering by Grupo GPS, a Brazilian facilities services provider in which they are key stakeholders, two sources familiar with the matter said.

Part of the proceeds of the offering, which are expected to reach 3 billion reais ($537.44 million), will go to the two private equity firms, with the rest going to the company for possible investment purposes, one of the sources added.

The company has hired investment banking units of Goldman Sachs GS.N, Itau Unibanco ITUB4.SA, BTG Pactual BPAC11.SA, Citigroup Inc C.N, Morgan Stanley MS.N and Bank of America Corp BAC.N to manage the IPO, according to the sources.

Founded in 1962, GPS has more than 86,000 employees and 2,400 clients, according to its website. It provides services such as cleaning,

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