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  • Trump casinos, Atlantic City agree on tax sale Tuesday, 25 Nov 2014 | 3:18 PM ET

    ATLANTIC CITY, N.J.— Bankrupt Trump Entertainment Resorts and the city of Atlantic City have reached a deal to let the city collect unpaid taxes. The deal was approved Tuesday afternoon by a Delaware bankruptcy court judge. The Trump Taj Mahal is scheduled to close Dec. 12, unless a deal can be reached with its main union regarding the restoration of health...

  • Bankruptcy wrangling for ex-Trump, Revel casinos Tuesday, 25 Nov 2014 | 12:32 PM ET

    ATLANTIC CITY, N.J.— Some of the hottest action in Atlantic City involves closed casinos in bankruptcy court, where Donald Trump is trying to recoup rent he paid on a driveway and the city is fighting to collect more than $50 million in unpaid taxes. Despite maintaining that a division of Trump Entertainment Resorts— the company he once ran but no longer has...

  • Revel fights city's collection of back taxes Tuesday, 25 Nov 2014 | 11:28 AM ET

    ATLANTIC CITY, N.J.— The former Revel Casino Hotel is trying to block Atlantic City from collecting $32 million in unpaid property taxes. The owners of the former Atlantic City casino, which closed on Sept. 2, filed an appeal Monday of a bankruptcy court order letting Atlantic City hold a tax sale of the unpaid debt. Complicating things is the fact that a deal to sell...

  • ING to cut 1,700 jobs, take $400 million charge Tuesday, 25 Nov 2014 | 3:31 AM ET

    AMSTERDAM— ING Group NV, the Dutch bank, says it will cut 1,700 jobs, or 2.7 percent of its workforce, to cut costs. ING said the cuts are part of a move to expand its digital banking operations and jobs will be lost "at the headquarters of ING Retail Banking and in the back offices, call centers and IT departments." Earlier this month, ING paid back the last of a 10 billion euro...

  • Sony sees 70 pct jump in devices revenues in 3 years Monday, 24 Nov 2014 | 8:25 PM ET

    TOKYO, Nov 25- Japan's loss-making Sony Corp said it expects revenue for its electronic devices division to rise up to 69 percent over the next three years, to as much as 1.5 trillion yen, as it works through an extensive restructuring plan. The forecast was released on Tuesday at the start of a Sony investors' conference on prospects for its electronics division.

  • DETROIT, Nov 24- Detroit is eying a date between Dec. 8 and 10 for its debt adjustment plan to take effect, allowing the city to exit the biggest-ever municipal bankruptcy, an attorney said on Monday. Heather Lennox, Detroit's attorney with law firm Jones Day, told U.S. Bankruptcy Court Judge Steven Rhodes that the city expects to complete a budget that incorporates...

  • Starz exploring sale of its business: Report Monday, 24 Nov 2014 | 10:16 AM ET
    The screening room at the Starz Denver Film Festival.

    Pay-TV channel Starz is seeking as much as $5 billion in a potential sale, the New York Post reports.

  • Court confirms reorg plan for LDK subsidiaries Monday, 24 Nov 2014 | 8:12 AM ET

    NEW YORK— LDK Solar said Monday that a U.S. bankruptcy court has confirmed the reorganization plan for three of its subsidiaries. Judge Peter J. Walsh of the U.S. Bankruptcy Court for the District of Delaware confirmed the plan for LDK Solar Systems Inc., LDK Solar USA Inc. and LDK Solar Tech USA Inc. The subsidiaries had filed to reorganize under Chapter 11...

  • SEOUL, Nov 24- U.S. automotive parts maker Visteon Corp has signed a preliminary deal to sell its controlling stake in South Korea's Halla Visteon Climate Control Corp to a local private equity firm for $3.6 billion, Korean media reports said. The Korea Economic Daily said on Monday Visteon plans to sign a final deal to sell its 69.99 percent stake in Halla Visteon...

  • BERLIN, Nov 23- Germany is working on a new law to force energy companies to shut down several more coal-fired power plants as it tries to reach ambitious climate goals, a document seen by Reuters showed on Sunday. Although Germany has seen a boom in green energy, accounting for about 25 percent of overall power generation, environmentalists criticise the country...

  • *Telecom Italia to sell Brazilian towers for over 900 mln euros. MILAN/ BARCELONA, Nov 21- Telecom Italia will examine a possible tie-up between its Brazilian unit Tim Participacoes and local group Oi, it said as it announced the sale of mobile phone masts for more than 900 million euros. Telecom Italia, which owns 66.5 percent of TIM Participacoes, said after a board...

  • Alco Stores to close following bankruptcy order Friday, 21 Nov 2014 | 5:10 PM ET

    DALLAS— Small-town discount retailer Alco Stores will close after a U.S. Bankruptcy Court in Dallas approved an order by the company's creditors to shutter its stores. Alco, based in the Dallas suburb of Coppell, said at the time that it intended to stay in business while reorganizing. The company last year moved its headquarters to Texas from Abilene, Kansas.

  • Nov 21- American Airlines Group Inc subsidiary Envoy Air plans to transfer at least 50 Embraer 145 aircraft to other regional carriers beginning in early 2015 in a move that will lead to job cuts, according to an internal letter reviewed by Reuters. One of American's other regional subsidiaries, Piedmont Airlines, will receive at least 20 of the transferred...

  • NEW YORK, Nov 21- Aereo Inc, the online video streaming company backed by media mogul Barry Diller, has filed for bankruptcy protection. In a filing with the U.S. Bankruptcy Court in New York, Chief Financial Officer Ramon Rivera said getting protection from creditors should provide "necessary breathing room" for Aereo to sell its assets, recapitalize or...

  • TV-over-Internet service Aereo seeks Chapter 11 Friday, 21 Nov 2014 | 1:05 PM ET

    The Supreme Court ruled this summer that Aereo had been operating like a cable TV company, meaning that unless it paid broadcasters licensing fees, it was in violation of copyright law. The company got its start in New York and had expanded to about 10 other metropolitan areas, including Boston, Houston and Atlanta, though it never disclosed how many subscribers...

  • UPDATE 2-Aereo files for bankruptcy Friday, 21 Nov 2014 | 9:41 AM ET

    NEW YORK, Nov 21- Aereo Inc, the video streaming company backed by media mogul Barry Diller, has filed for bankruptcy protection. Aereo Chief Executive Officer Chet Kanojia said the decision created "regulatory and legal uncertainty" that proved insurmountable for the New York- based company, which is privately held. Lawton Bloom, a principal at Argus Management...

  • Aereo files for Chapter 11 bankruptcy protection Friday, 21 Nov 2014 | 9:03 AM ET

    NEW YORK— Online streaming service Aereo says that it has filed for Chapter 11 bankruptcy protection, saying an unfavorable ruling by the U.S. Supreme Court was too difficult to overcome. Netflix, Amazon and Hulu offer full episodes of popular shows from broadcast networks ABC, NBC and Fox like "The Colbert Report" the next day for free. CEO Chet Kanojia said in a...

  • Nov 21- Television streaming service Aereo Inc filed for bankruptcy protection after a U.S. Supreme Court ruled in June that the company's business model violated copyright laws. The ruling was a victory for broadcasters such as CBS Corp, Comcast Corp's NBC, Walt Disney Co's ABC and Twenty-First Century Fox Inc's Fox network. The filing is In re: Aereo Inc, U.S....

  • TV streaming provider Aereo files for bankruptcy Friday, 21 Nov 2014 | 6:29 AM ET

    Nov 21- Television streaming service Aereo Inc filed for bankruptcy protection after a U.S. Supreme Court ruling in June found that the company's business model violated copyright laws. Aereo, in which Barry Diller's IAC/InterActiveCorp has a 23.30 percent stake, filed for Chapter 11 protection to preserve the value of its estate, according to a court filing...

  • Nov 21- Sysco Corp, the biggest U.S. food distributor, is in advanced talks to sell some assets to a food company owned by Blackstone Group in order to win regulatory approval for its acquisition of US Foods Inc, the New York Post reported, citing sources. Once Sysco strikes a deal to divest some assets, the Federal Trade Commission is expected to clear the acquisition,...