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Delaware

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  • PHILADELPHIA— A U.S. appeals court on Monday approved a federal plan to limit pollution in the Chesapeake Bay despite objections from farmers, builders and others who accused the Environmental Protection Agency of a power grab. The losers are rural counties with farming operations, nonpoint source polluters, the agricultural industry, and those states that...

  • July 2- Rare earths miner Molycorp Inc said it received U.S. bankruptcy court approval for interim financing of $22 million to support its operations. The court has approved the $22 million financing only on an interim basis, and has scheduled a final hearing on the debtor-in-possession financing for July 20, 2015, Molycorp said on Thursday.

  • Bahamas concerned about US ruling for resort developer Thursday, 2 Jul 2015 | 6:06 PM ET

    KINGSTON, Jamaica— The Bahamas attorney general expressed frustration Thursday with a decision by the developer of a $2.5 billion hotel-and-casino project in Nassau to file for bankruptcy protection in a U.S. court. "The government feels very strongly that resolution of the disputes that have delayed the project should occur in the Bahamas," she said.

  • WILMINGTON, Delaware, July 1- The bankrupt $3.5 billion Baha Mar mega resort in the Bahamas secured up to $30 billion in interim financing on Wednesday, but it was unclear when construction on the stalled project would resume. Baha Mar's developer, Sarkis Izmirlian, the son of Armenian billionaire Dikran Izmirlian, has agreed to arrange the funding.

  • NEW YORK, July 1- Two years after New York socialite Brooke Astor died in 2007, her son, Anthony Marshall, was convicted of bilking her of millions of dollars. Three states, most recently Missouri, have enacted laws that allow retail brokers to help curb scams against people with dementia. More than five million Americans over the age of 65 have Alzheimer's disease,...

  • NEW YORK, July 1- Two years after New York socialite Brooke Astor died in 2007, her son, Anthony Marshall, was convicted of bilking her of millions of dollars. Three states, most recently Missouri, have enacted laws that allow retail brokers to help curb scams against people with dementia. More than five million Americans over the age of 65 have Alzheimer's disease,...

  • National Transportation Safety Board investigator Doug Brazy said Tuesday that investigators found a hole in the engine's crankcase but don't know the cause. Joseph Richard Kalister, of Knoxville, Tennessee; his wife, Betty Kalister; and their teenage daughter, Nicole Kalister. The daughter had been scheduled to attend a new-student orientation at...

  • China's big ambitions stumble at Bahamas resort Tuesday, 30 Jun 2015 | 3:02 PM ET

    Nassau, Bahamas/ Beijing June 30- China's push to extend its influence in the Western Hemisphere has hit an embarrassing setback at an unfinished, $3.5 billion resort and casino project in the Bahamas. And on Monday, Baha Mar Ltd, developer of the 2,323 room resort located along Cable Beach near downtown Nassau, filed for voluntary bankruptcy protection in a...

  • California tribe eyes bid for gun maker Colt Tuesday, 30 Jun 2015 | 1:00 PM ET

    "Colt is an iconic business and we're sort of intensely interested in helping a business like that," Drew Ryce, attorney for the Morongo Band of Mission Indians, told Reuters on Tuesday. Ryce said the Banning, California- based tribe was looking to diversify its economy and an East Coast manufacturer would balance the tribe's focus on retail, gambling and...

  • ALEXANDRIA, Va.— VMware Inc. and Carahsoft Technology Corporation have agreed to pay $75.5 million to settle claims they overcharged the government. VMware, a Delaware corporation headquartered in Palo Alto, California, specializes in computer virtualization software. The settlement resolves allegations that VMware and Carahsoft made false statements...

  • June 29- General Motors Co said a judge in Delaware has dismissed a lawsuit by shareholders who wished to recoup losses stemming from the recall of millions of vehicles with an ignition switch defect linked to several deaths. There are three other shareholder derivative actions, one in Wayne County, Michigan and two in Federal District Court for the Eastern...

  • KINGSTON, Jamaica— The developer of a $3.5 billion hotel-and-casino project under construction in the Bahamas announced Monday that it has filed for U.S. Baha Mar Ltd. said the U.S. filings were being done "voluntarily" in an effort to complete construction and open the megaresort touted as the most expensive project ever undertaken in the Bahamas.

  • ATLANTIC CITY, N.J.— The owners of Atlantic City's former Trump Plaza casino plan to keep it shut for at least 10 years as a tax-saving measure. Trump Entertainment Resorts has filed a deed restriction for the casino, which closed last September, preventing it from being used again as a casino for at least a decade. Trump Entertainment filed the deed Friday with...

  • WILMINGTON, Del., June 26- Molycorp Inc failed to get approval from a U.S. Judge Christopher Sontchi agreed with the objection by an affiliate of Oaktree Capital Management that Molycorp could not justify its need for the money, which would deepen the company's insolvency. Oaktree, which had loaned the company about $250 million in September, argued Molycorp was...

  • LOS ANGELES— Fewer of tomorrow's freeways will be free. In exchange, drivers willing and able to pay will avoid the traffic congestion that bedevils everyone else. Perhaps the most ambitious highway-conversion plan is in the San Francisco Bay Area, where hills and the namesake body of water are natural barriers to mobility.

  • June 25- Texas' largest power company, Energy Future Holdings Corp, has scrapped a bankruptcy exit plan centered on the sale of its multibillion dollar power line stake and instead will pursue a reorganization, the company said in an internal memo on Thursday. The Luminant power generating business and its TXU retail utility would be spun off to the senior...

  • However, Delaware lawyers feared fee-shifting would effectively wipe out shareholder litigation and the ability to police corporate boards. To placate big business, the new law allows companies to adopt rules that require investors to sue in Delaware, a tactic known as forum selection. Supporters argue that corralling lawsuits in Delaware allows the...

  • June 25- Molycorp Inc, the only U.S. supplier of rare earths, filed for Chapter 11 bankruptcy protection on Thursday along with its North American subsidiaries to restructure $1.7 billion of debt in its U.S. and Canadian operations. Molycorp, whose shares have lost 86 percent of their value in the past year, said it had obtained agreement for up to $225 million in new...

  • June 25- Rare earths miner Molycorp Inc filed for Chapter 11 bankruptcy protection on Thursday along with its North American subsidiaries to restructure $1.7 billion of debt in its U.S. and Canadian operations. Molycorp has also obtained agreement for up to $225 million in new debtor-in-possession financing, it said in a statement. The Birmingham, Alabama-...

  • ST. LOUIS, June 24- A high-ranking JPMorgan Chase& Co executive responsible for revamping the bank's anti-money laundering practices after U.S. regulators found lax controls has left in recent days, according to internal memos read to Reuters and confirmed by the bank. Patrick Moore, a long-time JPMorgan executive who took over as global head of financial...