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Business Events Bankruptcy

  • NEW YORK, April 28- Puerto Rico's financial oversight board on Friday approved fiscal plans for four public agencies, including a liquidation of the island's Government Development Bank, as the struggling U.S. territory stares down a potential bankruptcy filing next week. The oversight board, appointed under the Puerto Rico rescue law known as PROMESA,...

  • BEIJING, April 28- Toshiba Corp's Westinghouse Electric Co unit will continue operating normally in Asia and Europe, despite the ongoing Chapter 11 restructuring, an executive at the troubled company said on Friday. Westinghouse filed for bankruptcy last month, hit by billions of dollars of cost overruns at four nuclear reactors under construction in the...

  • BEIJING, April 28- Toshiba Corp's Westinghouse Electric Co unit will continue operating normally despite the ongoing Chapter 11 restructuring, an executive at the troubled company said on Friday. Gavin Liu, Westinghouse's president for Asia, said at an industry event the firm's operations in Asia and Europe are not affected by the Chapter 11 filing made last...

  • WASHINGTON, April 26- An adviser to Puerto Rico Governor Ricardo Rossello said on Wednesday the distressed U.S. territory would not necessarily file for bankruptcy if it failed to reach a debt restructuring deal with creditors before Monday's negotiating deadline. "It depends on legal actions, if go after our officials, Elias Sanchez, Rossellos liaison to...

  • TOKYO, April 27- Trading in Takata Corp shares was suspended on Thursday after a report that the Japanese airbag maker at the heart of the car industry's biggest-ever recall is considering a bankruptcy plan that will create a new company and ringfence its liabilities. The Nikkei business daily reported Chinese-owned car parts maker Key Safety Systems, the...

  • TOKYO, April 27- Trading in Takata Corp shares was suspended on Thursday after a report that the Japanese airbag maker at the heart of the car industry's biggest-ever recall is considering a bankruptcy plan that will create a new company and ringfence its liabilities. The Nikkei business daily reported Chinese-owned car parts maker Key Safety Systems, the...

  • WASHINGTON, April 26- An adviser to Puerto Rico Governor Ricardo Rossello said on Wednesday the distressed U.S. territory would not necessarily file for bankruptcy if it failed to reach a debt restructuring deal with creditors before Monday's negotiating deadline. "It depends on legal actions, if go after our officials, Elias Sanchez, Rossellos liaison to...

  • TOKYO, April 27- Trading in shares of Japan's Takata Corp was suspended on Thursday after a newspaper report that the embattled auto parts maker was considering filing for bankruptcy protection, selling all operations to a newly created company. The Nikkei business daily said the plan would call for U.S.-based Key Safety Systems, a unit of China's Ningbo...

  • The company, which was founded in Georgia but sold a majority stake to Hong Kong- based Shunfeng International Clean Energy in 2015, filed a rare Section 201 petition with the U.S. International Trade Commission nine days after seeking Chapter 11 bankruptcy protection. The U.S. arm of Germany's Solarworld AG succeeded twice since 2012 in convincing the U.S. to...

  • ROME— The risk of bankruptcy looms for Italy's flagship airline, Alitalia, after employees resoundingly rejected proposed salary cuts and layoffs that were aimed at securing investments and keeping the carrier afloat. It was unclear if the Italian government might try to convince European Union officials to allow a "bridge loan" for Alitalia to ease the...

  • Tim Sloan, CEO of Wells Fargo.

    Wells Fargo has presented the Federal Reserve with a satisfactory plan on how to unwind its business in case of bankruptcy.

  • A record amount of bankruptcy filings have set the pace for the retail industry

    A record amount of bankruptcy filings have set the pace for the retail industry.

  • *Shares hit 14- month low of $3.02 in morning trading. Shares of the company, known for its form-fitting dresses and other apparel, hit a 14- month low of $3.02 in morning trading but were later up about 7 percent. Bebe could consider filing for bankruptcy to settle favorably with landlords of their stores, Joel Levitin, a partner in law firm Cahill Gordon& Reindel's...

  • April 20- Central Grocers Inc, a supplier to independent grocery stores in the Midwestern United States, is considering a bankruptcy filing as one possible option as it struggles with its debt, according to people familiar with the matter. Central Grocers is working with law firm Weil Gotshal& Manges LLP, investment bank Peter J. Solomon Co, and consultants from...

  • TOKYO, April 14- Potential rescuers of Japan's Takata Corp have extended talks, already in their 14th month, for a deal to take over the air bag maker at the heart of the auto industry's biggest safety recall, people briefed on the process said. Car-parts maker Key Safety Systems Inc and Bain Capital LLC are the preferred bidder for Takata, whose faulty air bags have...

  • Tough times for Toshiba

    Toshiba is reportedly unsure whether it will be able to stay in business.

  • People walk along the sidewalk in the rain on Christmas Eve on December 24, 2014 in New York City.

    Moody's analyst Charles O'Shea and former Saks CEO Steve Sadove shared their views on retail on CNBC"s "Power Lunch" Friday.

  • April 6- Rue21 Inc is preparing to file for bankruptcy as early as this month, according to people familiar with the matter, as the U.S. teen fashion retailer faces a big debt pile and declining foot traffic. The chain, which sells budget-priced clothing and accessories at about 1,100 stores in malls, strip centers and outlet centers across the United States, is...

  • The growing list of retailers filing bankruptcy

    CNBC's Courtney Reagan takes a closer look at retailers that have filed for bankruptcy this year.

  • TOKYO, April 5- Toshiba Corp sacked Westinghouse Electric Co's chairman two days before the U.S. nuclear engineering subsidiary filed for bankruptcy protection last week, as the Japanese firm tries to draw a line under the travails of a business that has cost it billions of dollars. A spokesman for Toshiba said Danny Roderick was replaced as Westinghouse's...