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  • Oct 21- A lawyer for GT Advanced Technologies Inc, a specialty glass supplier of Apple Inc, told a bankruptcy court on Tuesday the company was close to a settlement with the iPhone maker over access to information. Scant details have emerged since GT Advanced filed for bankruptcy on Oct. 6, wiping out most of its market value and triggering speculation as to what may...

  • DETROIT, Oct 21- The federal judge overseeing Detroit's historic bankruptcy case wants the city to explain its settlements with creditors and its exit financing in closing arguments next week, he said on Tuesday. Detroit Mayor Mike Duggan had raised concerns about the financing for the city's bankruptcy exit when he testified earlier this month, as well as the...

  • District Judge Shira Scheindlin in New York ordered Wyly and the estate of his late brother Charles to pay damages of $187.7 million plus interest to the SEC, after a jury found them liable for fraud in May. The SEC has since said the total, including interest, should be $299.4 million, which is one of the largest awards ever sought from individual defendants in a U.S....

  • District Judge Shira Scheindlin in New York ordered Wyly and the estate of his late brother Charles to pay damages of $187.7 million plus interest to the SEC, after a jury found them liable for fraud in May. The SEC has since said the total, including interest, should be $299.4 million, which is one of the largest awards ever sought from individual defendants.

  • LONDON, Oct 20- Portuguese government bond yields jumped on Monday as financial concerns over one of the country's largest listed companies and the approaching bankruptcy of the Espirito Santo family shook investor confidence in the fragile peripheral economy. The liquidation of the assets of Espirito Santo holding company Rioforte virtually ensures...

  • Pfizer/AZ chase may be off as pharma deals falter Monday, 20 Oct 2014 | 4:12 AM ET

    At the start of the year, it looked like the pharma M&A market would get an adrenaline injection – but now, it's more like it’s taken a sleeping pill.

  • SAN FRANCISCO, Oct 16- Struggling U.S. chipmaker Advanced Micro Devices Inc said on Thursday it was cutting 7 percent of its workforce and it gave a lower-than-expected revenue forecast for the current quarter, sending its shares lower. The company's third major round of job cuts since 2011 comes a week after AMD said Chief Executive Officer Rory Read had been...

  • DETROIT, Oct 16- Detroit announced on Thursday a last-minute settlement with its final major holdout creditor, Financial Guaranty Insurance Co., as it edged closer to exiting the biggest-ever municipal bankruptcy. Corinne Ball, an attorney at law firm Jones Day, told U.S. Bankruptcy Court Judge Steven Rhodes that the settlement includes an option for FGIC to...

  • Eagle Bulk Shipping cuts debt by 80 pct, shares skyrocket Thursday, 16 Oct 2014 | 12:01 PM ET

    Oct 16- Eagle Bulk Shipping Inc's shares shot up to as much as $15.46 from 68 cents as the company cut its borrowings by about 80 percent after converting debt into equity under a financial restructuring program. Excess capacity in the past couple of years has forced several shipping companies to file for bankruptcy, including Genco Shipping& Trading Ltd,...

  • DETROIT, Oct 16- A settlement between Detroit and its last major holdout creditor, Financial Guaranty Insurance Co, resolves all issues involving the city's outstanding pension debt, an attorney for the city said on Thursday. Corinne Ball, an attorney at law firm Jones Day, told U.S. Bankruptcy Court Judge Steven Rhodes that the settlement includes an option for...

  • Office Depot to cut 1,100 jobs in Europe Thursday, 16 Oct 2014 | 9:40 AM ET

    Oct 16- Office Depot Inc said it would eliminate about 1,100 jobs in Europe as part of a restructuring plan in the region. The company had 64,000 employees worldwide as of Jan. 25. The office supply retailer said it expects the restructuring to reduce annual costs by about $90 million by the end of 2016..

  • Shire-AbbVie deal collapses: What next? Thursday, 16 Oct 2014 | 2:49 AM ET

    Abbvie has called time on its $54 billion offer for Ireland-based Shire, after its board said it would no longer recommend the bid to shareholders.

  • BRASILIA/ RIO DE JANEIRO, Oct 16- An iron-ore mining company controlled by Brazilian tycoon Eike Batista filed for bankruptcy on Wednesday, the third time in a year that a unit of the former billionaire's EBX industrial group has sought protection from creditors. MMX Sudeste Mineracao SA, the company that made the petition, holds nearly all the significant...

  • BRASILIA, Oct 15- The main subsidiary of Brazilian tycoon Eike Batista's iron ore mining company MMX Mineracao e Metalicos SA filed a bankruptcy protection petition before a Brazilian court on Wednesday. MMX Sudeste Mineracao SA, the unit that holds MMX's main mining assets, made the request after negotiations with creditors and efforts to seek new investors...

  • BRASILIA, Oct 15- A unit of Brazilian tycoon Eike Batista's iron-ore mining company MMX Mineracao e Metalicos SA made an "urgent" bankruptcy protection petition before a Brazilian court on Wednesday.

  • Scant information has emerged since GT Advanced Technologies Inc filed for bankruptcy last week, wiping out most of its market value and triggering speculation about what may have soured its Apple relationship and torpedoed its prospects. GT Advanced cited strict confidentiality requirements in its Apple contracts which, if violated, carry fines of $50...

  • DETROIT, Oct 15- Ordinary Detroit residents sounded off with passion and anger on Wednesday as they gave a federal judge their views on the city's plan to exit its historic municipal bankruptcy. Bankruptcy Judge Steven Rhodes began a hearing on Sept. 2 to determine if Detroit's plan to restructure $18 billion in debt is fair and feasible. Some residents of...

  • Scant information has emerged since GT Advanced Technologies Inc filed for bankruptcy last week, wiping out most of its market value and triggering speculation as to what may have soured its Apple relationship and torpedoed its prospects. GT Advanced cited strict confidentiality requirements in its Apple contracts which, if violated, carry fines of $50...

  • Angolan oil output squeezed by LNG plant closure Wednesday, 15 Oct 2014 | 10:14 AM ET

    MILAN/ LONDON, Oct 15- The lengthy shutdown of a liquefied natural gas plant is helping push Angola's crude oil exports to their lowest levels since 2006, having clogged offshore platforms with unwanted gas supplies and forced operators to limit extraction. But a more far-reaching consequence of the constraint on oil output could be to deter investor...

  • MUMBAI/ LONDON, Oct 15- India's Tata Steel Ltd is in talks to sell loss-making European operations including mills in northern England and Scotland to Geneva- based Klesch Group, as it battles weak prices and tentative economic recovery. Tata, Europe's second-largest steel producer, said in a statement it had agreed to negotiate with Klesch over its Long...