The company, operator of Sears department stores and the Kmart discount chain, has been selling or spinning off assets and closing stores for the past few years to try to turn around its business. Sales have been dropping since Lampert combined Sears and Kmart in an $11 billion deal in 2005..» Read More
WASHINGTON-- The Labor Department reports on the number of people who applied for U.S. unemployment benefits last week. The report will be released Wednesday at 8:30 a.m. Eastern. SOLID JOB GAINS: The decline in layoffs should help boost job gains at a time when hiring has accelerated.
PARIS/ DETROIT, Dec 4- Five years after Jeffrey Hand took a $100,000 buyout to leave Ford Motors, the U.S. auto industry has surged back to profit and is once again hiring. Hand, who has spent the years living on his payout, has now applied to work at an auto parts supplier a few hours away from his old factory near Dearborn, Michigan.
Dec 3- Canadian potash producer Agrium Inc said on Tuesday that it is not planning job cuts at its Vanscoy, Saskatchewan, mine, even after larger fertilizer rival Potash Corp of Saskatchewan revealed plans to slash staff.
NEW YORK, Dec 3- Bankrupt mortgage lender Residential Capital LLC has struck a deal with a class of bondholders to resolve the group's objection to its plan to exit bankruptcy. A hearing to outline the settlement was scheduled for 2 p.m. EST in the U.S. Bankruptcy Court in New York.
NEW YORK, Dec 3- Ben Venue Laboratories, a Bedford, Ohio- based subsidiary of German drugmaker Boehringer Ingelheim has tapped Bank of America Merrill Lynch to explore a possible sale of its generic sterile injectable drugs business.
NEW YORK, Dec 3- Bankrupt mortgage lender Residential Capital LLC has struck a deal with a class of bondholders to resolve the group's objection to its plan to exit bankruptcy, according to a source familiar with the matter.
WASHINGTON, Dec 3- U.S. banks are likely to cut back on risky short-term funding if markets believe bankruptcy not bailouts await them, a top Federal Reserve is set to tell lawmakers on Tuesday.
DETROIT, Dec 3- A U.S. judge ruled on Tuesday that he will not stay the Detroit bankruptcy proceedings in the wake of any possible appeals. Judge Steven Rhodes ruled that any motion for direct appeal to the U.S. 6th Circuit Court must be filed separately.
If Rhodes rules Detroit is eligible for bankruptcy, which most experts expect, the city will begin working toward its next major move, the submission of a plan to readjust its more than $18 billion in debt.
*Zain is Sudan's top mobile operator, lacks fixed line. *Canar is Sudan's No.1 fixed line operator. DUBAI, Dec 2- Etisalat could resurrect talks to sell its Sudanese telecom arm Canar to Kuwait's Zain, as both sides remain keen on a deal despite a breakdown in negotiations earlier this year, a source close to the matter said.
CHATTANOOGA, Tenn.-- German automaker has begun construction at its Chattanooga, Tenn. plant for an extension of its assembly parts shop warehouse. Volkswagen says the expansion is entirely aimed at production of the Passat sedan, which the plant produces for markets in the United States, Canada, Mexico, South Korea and Middle Eastern countries.
*Rallies at about 30 sites across Germany. MANCHING, Germany, Nov 28- More than 20,000 workers from European aerospace group EADS took to the streets in Germany on Thursday to protest against restructuring plans they fear could cost thousands of jobs. EADS has about 140,000 employees around the world, of which about 50,000 are in Germany.
BAGHDAD, Nov 28- PetroChina has bought a 25 percent stake in the West Qurna-1 oilfield project from Exxon Mobil, strengthening China's hold on Iraq's energy resources. China is already the top foreign player in Iraq's oilfields, which are the largest in the Middle East open to foreign investment.
Nov 27- Solid-state hard drive maker OCZ Technology Group Inc said it had received an offer from Toshiba Corp to buy the company in a planned bankruptcy proceeding. OCZ, which has a market capitalization of $43 million, said it had "substantially completed" negotiations with Toshiba on an asset purchase agreement.
Nov 27- Solid-state hard drive maker OCZ Technology Group Inc said it would file for bankruptcy and that it had received an offer from Toshiba Corp to buy its assets in a bankruptcy proceeding. OCZ said on Wednesday it has "substantially completed" negotiations with Toshiba on an asset purchase agreement.
NEW YORK, Nov 27- A judge on Wednesday approved a settlement resolving U.S. regulators' opposition to a merger between AMR Corp and US Airways Group Inc, allowing AMR, the bankrupt parent of American Airlines, to soon close on a tie-up that will create the world's largest carrier.
BILLINGS, Mont.-- The trustee overseeing a bankrupt Montana power cooperative was removed by a federal judge Tuesday in an unexpected move that could lead to the breakup of the troubled co-op and the sale of assets including a power plant near Great Falls.
DETROIT-- Some of Detroit's largest creditors are asking a judge to let them have a role in assessing the city's valuable art collection. In a court filing Tuesday, the creditors in Detroit's bankruptcy say they're in the dark when it comes to art at the Detroit Institute of Arts.
NEW YORK/ LONDON, Nov 27- JPMorgan Chase& Co decided in May to divest its Henry Bath metal warehousing company after a three-year struggle to conform the business to banking regulations, according to letters received by Reuters through a Freedom of Information Act request.
Nov 26- The U.S. Supreme Court will hear a dispute in the bankruptcy of a small-town pizza shop owner, taking on a case that could dictate how inherited individual retirement accounts are treated in bankruptcy.