STOCKS NEWS US-Abitibi moves closer to restructuring debt: NYT

Stocks on the move [HOT-RTRS] Real-Time Equity news [U E]
U.S. stock market report [.N]

0743 ET 27March2009-Abitibi moves closer to restructuring debt: NYT
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Newsprint maker AbitibiBowater moved closer to restructuring its
debt ahead of a Friday deadline, as Citigroup, a major holdout in one of its
two bond exchange offers, agreed to participate, according to the New York
Times.
Citi's decision may help Abitibi avert a bankruptcy filing as it tries to
trim its $6 billion debt burden by almost half, the Times wrote.
[nBNG351344]
Shares of Abitibi closed Thursday at 65 cents.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net

0736 ET 27March2009-Obama to unveil auto aid plan soon
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U.S. President Barack Obama late Thursday said that in the coming days, his
administration would unveil part of its plan to help the U.S. auto industry,
provided the companies push ahead with their restructuring programs.
For details, see [nSP494145]
Shares of General Motors , a Dow component, surged 13.8 percent to
$3.88 in premarket trade while Ford Motor Co gained 1 percent to $2.97
before the bell.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net

0729 ET 27March2009-MGM Mirage project may file for bankruptcy: WSJ
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City Center, an $8 billion project owned by MGM Mirage and Dubai
World has hired counsel to advise on a possible bankruptcy filing, according to
a report in the Wall Street Journal.
The company, and its joint venture partner Dubai World, are likely to
struggle to pay $220 million due Friday on the project, the paper reported,
citing unnamed sources. [nN26525573]
Shares of MGM tumbled 12.6 percent to $2.70 in premarket trade.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net

0720 ET 27March2009-NY Times and Washington Post to cut costs
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Newspaper companies New York Times and Washington Post Co
are embarking on new cost cutting measures, in the wake of dramatic declines in
advertising revenue.
The Times laid off 100 workers and is cutting non-union salaries, while the
Post is offering a new round of buyouts to newsroom, production and circulation
employees and said it could not rule out layoffs.
For details, see [nN26481606]
Shares of New York Times closed Thursday at $4.98 while Washington Post
shares closed at $384.28.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net

0712 ET 27March2009-Global M&A falls 33 pct in the first quarter
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Global mergers and acquisitions fell by a third on in the first quarter,
dropping 33 percent to $444 billion as the financial crisis thwarted dealmaking
and heavily pressured private equity houses.
Announced M&A had its slowest quarter in six years, according to data
released by Thomson Reuters on Friday.
For details, see [nLQ562067]
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net

0708 ET 27March2009-Crude oil falls after retail, jobs data
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May crude futures fell on Thursday, following the release of U.S. jobless
data that encouraged some profit-taking. The oil market was also pressured by
weaker-than-expected retail sales in Japan.
For details, see [nSP390460]
The contract slid 1.7 percent to $53.41.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net

0704 ET 27March2009-Economic indicators for March 27
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Economic indicators on tap for Friday include: February consumption data,
the PCE price index for February, personal consumption and income data for
February, the University of Michigan's inflation and sentiment figures for
March and weekly ECRI data.
For details, see [ECI/US]
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net

0700 ET 27March2009-Earnings diary for March 27
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Companies scheduled to report quarterly results on Friday include KB Home
, Preliminary China Crescent , Biofuel Energy , Netlist
, Nexxes Lighting and VCG Holding Corp .
For details, see [RESF/US]
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
Keywords: MARKETS STOCKSNEWS

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