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FORT WORTH, Texas-- American Airlines parent AMR Corp. has asked a federal judge for another extension, until April 15, to file a bankruptcy-reorganization plan. AMR has exclusive rights through March 11 to file a plan of reorganization and had already asked the court for permission to extend that right until April 1.
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Lehman Bros., the investment bank that failing and helped spark the 2008 financial crisis, made more history by paying $2 billion in fees to outside professionals involved in its bankruptcy. The company spent $160.8 million in fees since emerging from bankruptcy in March, it said in a Thursday filing in with the U.S. Bankruptcy Court in New York.
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FOOTHILLS RANCH, Calif.-- The Wet Seal Inc. said Friday and its chief operating officer is stepping down as the struggling retailer implements a broad restructuring program. Wet Seal also authorized a $25 million stock buyback program, cut 35 jobs and will close two money-losing Arden B stores at the end of its 2012 fiscal year.
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*Sears Canada in the middle of turnaround plan. TORONTO, Jan 31- Sears Canada, which is struggling with shrinking sales and the looming arrival of Target Corp on the Canadian retail scene, said on Thursday it was laying off 700 workers as part of a plan to "right-size" the operation.
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*Settlement resolves intercompany claims between MF Global entities. Judge Martin Glenn greenlighted the deal at a hearing in U.S. Bankruptcy Court in Manhattan, about six weeks after trustees for MF's UK and U.S. broker-dealers, as well as its parent, announced the deal to resolve billions of dollars in intercompany claims.
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ALBANY, N.Y.-- The New York State Thruway Authority is planning 234 layoffs to help shore up its finances, but no toll increases are planned. Thruway spokesman Dan Weiller says the layoffs of full-time workers will be in all regions, including the Albany headquarters. Andrew Cuomo, but is legally independent of state government.
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Jan 31- Dow Chemical Co reported a quarterly net loss on Thursday due to large restructuring charges and falling sales of specialty plastics and chlorine. For the fourth quarter the company posted a net loss of $716 million, or 61 cents per share, compared with a net loss of 20 million, or 2 cents per share, in the year-earlier quarter.
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FRANKFURT, Jan 31- Deutsche Bank posted a $3.5 billion quarterly loss as it took legal and restructuring charges aimed at drawing a line under past scandals and boosting its capital position in a tougher regulatory and trading environment.
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Jan 30- Time Inc on Wednesday began the process of cutting about 500 jobs, about 6 percent of its total staff, according to a source familiar with the company, as the largest U.S. magazine publisher grapples with challenges beleaguering the print industry. The layoffs mark the first major move made by Time Inc CEO Laura Lang, who joined the company in January 2012.
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During a conference call with analysts on Pfizer Inc.' s fourth-quarter results, executives of the drugmaker were asked about plans to acquire new businesses, even as the drug giant has been streamlining to cut costs and divest noncore businesses. Chief Financial Officer Frank D'Amelio outlined what the drugmaker might be looking for.
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SEATTLE, Jan 29- Microsoft Corp launched new Office software for home users on Tuesday, featuring constantly updated, online access to documents from all kinds of devices as the world's largest software company attempts to tailor its most profitable product to a mobile generation.
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Willcox- based EuroFresh Farms filed for bankruptcy Monday in Tucson. San Antonio, Texas- based NatureSweet Limited has announced that it plans to purchase substantially all of the assets of EuroFresh. EuroFresh has more than 300 acres of greenhouses in Willcox and Snowflake.
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*Fourth-quarter net income falls to 4 cents a share from 7 cents. Jan 29- Boston Scientific Corp reported weaker quarterly earnings on Tuesday as sales slipped and expenses rose, and the medical device maker announced more job cuts. Boston Scientific employs 24,000 workers worldwide, according to its website.
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Jan 28- Software maker VMware Inc said on Monday it was cutting 900 jobs as part of a restructuring plan, and it gave a disappointing outlook for 2013. Its shares fell 13 percent in after-hours trade.
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*Technical pressure adds to platinum selling below $1,700. *Russia, Turkey sharply added gold reserves in December. NEW YORK, Jan 28- Platinum posted its biggest one-day drop in over a month on Monday, as news the world's largest platinum producer Anglo American Platinum agreed to postpone massive job cuts eased supply fears.
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PITTSBURGH-- PPG has completed the sale of its $2.5 billion commodity chemicals business to Georgia Gulf, the companies said Monday. The combination of the former PPG unit and Georgia Gulf has been renamed Axiall Corp., which will start trading Tuesday on the New York Stock Exchange under the "AXLL" ticker.
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NEW CASTLE, Del.-- A Delaware firm known for making NASA spacesuits has been awarded more than half a million dollars in taxpayer money for a new manufacturing facility in Sussex County.
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JOHANNESBURG, Jan 28- South Africa, Anglo American Platinum and labour unions have agreed to postpone a restructuring exercise that could lead to 14,000 job cuts to allow for more talks, the minerals department said.
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Jan 28- Powerwave Technologies Inc, which makes wireless antennas, filed for Chapter 11 bankruptcy protection on Monday as its losses ballooned over the past year. The company listed assets of $213.5 million and liabilities of $396.1 million, according to documents filed in the U.S. Bankruptcy Court in Wilmington, Delaware.
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Jan 28- Hostess Brands Inc is close to securing initial bids for its Drake's cake business and four bread operations that could net the bankrupt bakery company more than $50 million, according to a source familiar with the matter.