The Michigan Democrat is the former chairman of the House Energy and Commerce Committee and has been a staunch advocate for the auto industry.» Read More
In a filing in U.S. Bankruptcy Court, Syncora Guarantee Inc warned that lawsuits will be filed over the Detroit Institute of Arts' collection, which the city is not selling at this point to help pay its $18 billion in debt.
NEW YORK, Feb 28- Analysts at Fitch Ratings on Friday cut some $4 billion worth of bonds issued on behalf of the Water and Sewerage Department of Detroit to junk, citing the weak finances and outlook for the system run by the bankrupt city.
WASHINGTON _ The Commerce Department releases personal income and spending for January, 8:30 a.m. Eastern; Institute for Supply Management releases its manufacturing index for February, 10 a.m.; Commerce Department releases construction spending for January, 10 a.m.; House Energy and Commerce subcommittee hearing on proposed changes to generic drug labeling.
WASHINGTON _ Commerce Department releases personal income and spending for January, 8:30 a.m. Eastern; Institute for Supply Management releases its manufacturing index for February, 10 a.m.; Commerce Department releases construction spending for January, 10 a.m.; House Energy and Commerce subcommittee hearing on proposed changes to generic drug labeling.
NEW YORK, Feb 28- Former SAC Capital Advisors LP portfolio manager Mathew Martoma asked a U.S. judge to throw out his insider trading conviction, saying federal prosecutors did not prove he committed a crime and that improper evidence and jury bias tainted the verdict. The request submitted late Thursday night in the U.S. District Court in Manhattan was expected.
BOSTON-- His political future clouded by scandal, New Jersey Gov. Chris Christie pressed ahead on a national fundraising tour Thursday, but kept a low profile during a brief Boston appearance that attracted GOP presidential candidate Mitt Romney and intense criticism from Democrats.
TRAVERSE CITY, Mich.-- Sharp cutbacks in phosphorus runoff into Lake Erie are needed to counter a worsening problem of algae blooms that degrade water quality, harm fish and chase away tourists, a U.S.-Canadian agency said in a report to both governments Thursday.
WASHINGTON, Feb 28- A standoff between the United States and Japan is holding up talks on a sweeping Pacific free trade pact and a lack of authority to push an eventual deal through the U.S. Congress without amendment may be undercutting Washington's hand.
NEW YORK, Feb 28- A series of public and private meetings between the London Metal Exchange and its staunchest critics in the United States has revealed a small but significant shift in a years-long crisis over the exchange's warehousing policy, sources said.
DETROIT, Feb 27- U.S. safety regulators have opened an investigation into whether General Motors Co reacted fast enough in its recall of more than 1.6 million cars over an ignition-switch defect linked to 13 deaths in crashes.
CHICAGO, Feb 27- Standard& Poor's Ratings Services posed the question on Thursday that has been lingering in the minds of many in Chicago: Will significant budget pressures put the city on the same path that led Detroit into bankruptcy?
Feb 27- Cable TV network AMC Networks Inc reported a 19 percent jump in quarterly revenue that handily beat Street estimates, helped by the popularity of "The Walking Dead."
WASHINGTON, Feb 26- The U.S. House of Representatives' top tax writer released a comprehensive tax code overhaul on Wednesday, but it was widely seen as dead-on-arrival in a Congress still deeply divided over fiscal policy.
The Senate Permanent Subcommittee on Investigations this week alleged new misdeeds by Switzerland's Credit Suisse, citing secret meetings in luxury hotels and hidden elevators one senator said belonged in a spy novel.
WASHINGTON, Feb 26- The U.S. House of Representatives' top Republican tax writer will release a plan on Wednesday to overhaul the tax code, but it was widely seen as dead-on-arrival in a Congress still deeply divided over fiscal policy.
*Fourth-quarter adj profit $0.27/ share vs est $0.41. Feb 26- Chesapeake Energy Corp reported quarterly results that missed Wall Street estimates by a wide margin because of weak production, sending its shares sharply lower on Wednesday. Chesapeake's stock fell as much as 8 percent on the New York Stock Exchange on Wednesday morning.
LOUISVILLE, Ky.-- Kentucky's two largest universities are involved in two Pentagon- led institutes to boost advanced high-tech manufacturing announced by President Barack Obama on Tuesday.
LONDON, Feb 26- The tremors caused by the explosion in U.S. physical aluminium premiums have reached the other side of the world. The opening producer salvoes in the quarterly negotiations are coming in at $370- 375 per tonne over LME cash. That compares with $255- 256 for the January- March 2014 period.
NEW YORK/ HOUSTON, Feb 26- Encana Corp and Chesapeake Energy Corp are negotiating civil settlements with the state of Michigan to try to end its criminal investigation into whether the energy companies colluded to keep oil and gas lease prices artificially low in the state.
NEW YORK, Feb 25- Cooper-Standard Holdings Inc is weighing a merger with rival TI Automotive, looking to combine the world's two largest suppliers of fluid systems for cars and trucks, according to people familiar with the matter.