Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Article excerpt

Peabody debt dispute fizzles * Peabody Energy moved closer to exiting bankruptcy as rising coal prices helped defuse a dispute between some of the St. Louis company's creditors.

The surge in prices means that secured lenders are now likely to recoup their investment, making a legal battle over how to treat long-term debt in calculating Peabody's assets largely irrelevant.

Peabody said this week that the company was working to resolve the dispute, which pitted its secured lenders against unsecured creditors.

"The parties are working to settle the [debt] issue as part of broader negotiations regarding the plan of reorganization," Peabody spokesman Vic Svec said Wednesday in an emailed statement.

The company expects to file its reorganization plan by mid- December and hopes to exit bankruptcy within a year of its April 2016 filing, Svec said.

Record number of climate-related resolutions expected * Activist shareholders plan a record number of resolutions focused on climate change at U.S. company annual meetings in 2017.

Based on filings so far, U.S. companies are on track to face roughly 200 resolutions on climate matters at their shareholder meetings next year, according to Rob Berridge, who follows the subject for Ceres, a sustainability advocacy group.

There were 174 such resolutions this year, Berridge said, compared with 167 in 2015 and 148 in 2014. Many have been directed at big oil and gas companies, though other sectors have also been targeted, including technology and retail.

Activist shareholders broadly aim to curb companies' carbon emissions and make energy usage more efficient, or at the very least, to draw the attention of companies and investors to climate change as an urgent problem.

J&J and Actelion confirm they're talking * Johnson & Johnson and biotech group Actelion confirmed Friday that they were in talks after media reports about a potential deal sent the Swiss company's stock to a record high. …

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