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  • Puerto Rico power debt relief deal falls apart Saturday, 23 Jan 2016 | 6:30 PM ET
    Cars pass a construction site in Fajardo, near San Juan, Puerto Rico, on Dec. 1, 2015.

    A deal to restructure $8.2 billion in Puerto Rican utility debt collapsed, after lawmakers missed a deadline to approve conditions for the bond swap.

  • NEW YORK, Jan 22- The Association of Financial Guaranty Insurers said on Friday that granting bankruptcy protections to the government of Puerto Rico, which is struggling to pay its debts, would jeopardize its ability to reach a consensual debt restructuring. While pointing out that Lew did not explicitly join Puerto Rico's call for bankruptcy protection,...

  • Jan 22- Standard and Poor's raised Greece's rating to "B minus" from "CCC plus", saying the country is broadly in compliance with the terms of its 86 billion euro financial support program after recapitalizing its banks and taking budgetary steps. Despite various shocks, Greece's economy had proved to be more resilient than expected, the ratings agency said on...

  • WILMINGTON, Del., Jan 21- Dov Charney, the founder of American Apparel, told a U.S. judge on Thursday the board threatened "character assassination" if he fought his removal as chief executive in 2014, in testimony that could determine control of the bankrupt teen retailer. American Apparel wants Bankruptcy Judge Brendan Shannon in Wilmington, Delaware, to approve...

  • LONDON, Jan 21- Britain's Pearson said it would cut 10 percent of its workforce and restructure once again to tackle a storm it is facing in markets from North America to South Africa after focusing on educational publishing. Chief Executive John Fallon said problems in its markets, such as fewer people in the United States going to college, had been more...

  • "I had made a mistake in denying the motion," Sontchi said, adding the matter would go forward at a hearing on Friday morning in Bankruptcy Court in Delaware. Concerned about leaks from confidential mediation in Molycorp's Chapter 11 bankruptcy, Sontchi last week ordered 123 people to disclose their contacts with Bloomberg reporters over the prior 60 days.

  • CHICAGO, Jan 20- A U.S. judge on Wednesday opened the door to dismissing the $18 billion Caesars bankruptcy case unless parties find a way to make public results of a probe into whether the casino operator transferred its most profitable properties to new owners before filing to reorganize under Chapter 11.. Bankruptcy Judge Benjamin Goldgar said he might...

  • NEW YORK, Jan 18- Puerto Rico, struggling to make its debt payments, outlined an increase in its financing gap on Monday, saying it now projects a $16.06 billion hole to fill, cumulatively, over the next five years, an increase of $2.1 billion from a September projection. The Government Development Bank said in an updated Fiscal and Economic Growth Plan released on...

  • NEW YORK, Jan 15- Puerto Rico is talking to creditors on Friday to discuss adjusting its long-anticipated restructuring plan unveiled in September, its Government Development Bank president Melba Acosta said in a statement. Facing $70 billion in debt and a 45 percent poverty rate, Puerto Rico is trying to solve an economic crisis before it hits substantial...

  • NEW YORK, Jan 15- Puerto Rico is talking to creditors on Friday to discuss adjusting its long-anticipated restructuring plan which was unveiled in September, its Government Development Bank president Melba Acosta said in a statement. Puerto Rico officials in September proposed cuts to teacher pensions, a new financial control board and restructuring $18...

  • Jan 15- Billionaire Ron Perelman, the majority owner of Revlon Inc, said he would seek strategic alternatives for the cosmetics maker. New York- based Revlon, whose sales have stagnated in the last three quarters, announced a restructuring plan in September to cut costs. Avon said in December Cerberus Capital Management LP would take a 16.6 percent stake in the...

  • SHANGHAI, Jan 14- Just how worried should the commodity sector be about China? The threat of the yuan dropping more than 10 percent to above 7 to the dollar and concern that there will be little progress in restructuring zombie state-owned companies in the mining, steel, aluminium and industrial sectors were the top two concerns among investors at the UBS Greater...

  • UPDATE 1-Gun maker Colt says it has exited bankruptcy Wednesday, 13 Jan 2016 | 7:13 PM ET

    SAN FRANCISCO, Jan 13- Famed U.S. gun maker Colt Defense LLC said on Wednesday it has emerged from bankruptcy after concluding a financial restructuring in which it reduced its debt by about $200 million. Dennis Veilleux, Colt's president and chief executive officer, said in a statement that Colt, which raised $50 million in new capital, would come out of Chapter 11...

  • Gunmaker Colt emerges from bankruptcy Wednesday, 13 Jan 2016 | 6:20 PM ET

    Jan 13- Gunmaker Colt Defense LLC said on Wednesday it completed its financial restructuring and emerged from bankruptcy. The company said it executed a long-term lease for its West Hartford, Connecticut facility, control of which had been a point of contention with bondholders during the bankruptcy process. Colt filed for Chapter 11 protection in June due to...

  • NEW YORK, Jan 12- Puerto Rico could face widespread blackouts if its power utility, PREPA, runs out of cash, the company's chief restructuring officer told a congressional panel on Tuesday, arguing that the utility needs access to federal bankruptcy law to help close a deal to restructure its debt. PREPA's Lisa Donahue told the House Committee on Natural...

  • TOKYO, Jan 12- A $3 billion restructuring plan for Japanese electronics firm Sharp Corp is likely to be finalized as early as this week, a person with direct knowledge of the discussions said on Tuesday. State-backed fund Innovation Network Corporation of Japan is leading the bailout, which would be Sharp's third major package in three years, and would invest...

  • UPDATE 1-Arch Coal files for bankruptcy Monday, 11 Jan 2016 | 3:26 AM ET

    Jan 11- Arch Coal Inc, the second-largest coal miner in the United States, and its domestic subsidiaries filed for Chapter 11 bankruptcy to facilitate a restructuring with a group of lenders that hold more than 50 percent of its debt, the company said. The Missouri- based company was widely expected to go bankrupt after delaying a $90 million interest payment due...

  • Arch Coal files for bankruptcy Monday, 11 Jan 2016 | 2:40 AM ET

    Jan 11- Arch Coal Inc, the second-largest coal miner in the United States, and its domestic subsidiaries filed for Chapter 11 bankruptcy to facilitate a restructuring with a group of lenders that hold more than 50 percent of its debt, the company said. Arch Coal said on Monday it reached an agreement with its lenders that will eliminate more than $4.5 billion in...

  • Macy's to cut 3,000 jobs, close 36 stores Thursday, 7 Jan 2016 | 6:40 AM ET
    Macy's to cut 3,000 jobs, close 36 stores

    Rick Snyder, Odeon Capital Group, and CNBC's Courtney Reagan discuss Macy's restructuring plan as the retailer attempts to trim expenses by about $400 million annually.

  • More cuts ahead at Yahoo Thursday, 7 Jan 2016 | 5:37 AM ET
    More cuts ahead at Yahoo

    A big round of layoff may be on the way at Yahoo as the company struggles to get its restructuring plan back on track and activists call for change, reports CNBC's Landon Dowdy.