Bank of America settlement expected to be a record $17 billion, but true cost likely lower Accounting obscurities mean US settlement with Bank of America might not cost bank $17 billion Sears 2nd- quarter loss widens as retailer continues to deal with sluggish sales China manufacturing drags on most Asian stock markets but sentiment holds up in Europe, US China manufacturing growth weakens in August in sign economic recovery is losing momentum Some Fed officials argue that economy is improving fast enough to signal lower support As Yellen prepares to detail her economic outlook, 6- month Fed honeymoon is likely to end soon Reports: Russia conducts checks at McDonald's restaurants after 4 are shuttered in Moscow Apple's stock soars to new high amid rising hopes for bigger-screen iPhone, other new products South Dakota man sentenced over railroad workers' lead poisoning at Idaho job site» Read More
April 22- General Motors Co filed a motion in a U.S. bankruptcy court to enforce a bar on lawsuits related to ignition defects in cars sold before its 2009 bankruptcy as it fights a class action lawsuit that seeks to set aside the restriction.
April 22- Diversified Canadian miner Teck Resources Ltd said it would defer the reopening of its Quintette coal mine in British Columbia and cut 600 jobs, or 5 percent of its global workforce, after a 78.4 percent fall first-quarter net profit.
ZURICH, April 22- Swiss drugmaker Novartis is transforming its business by exchanging certain assets with GlaxoSmithKline and divesting its animal health business to Eli Lilly in deals worth billions of dollars. Novartis said it had agreed to acquire GSK's oncology products for a $14.5 billion payment.
April 22- General Motors Co filed a motion in a U.S. court to enforce an injunction contained in its sale order, which GM says bars plaintiffs from suing the reorganized company for any claims related to its predecessor. "May New GM be sued in violation of this Court's Sale Order and Injunction for economic damages relating to vehicles and parts sold by Old GM?"
WASHINGTON, April 22- The U.S. consumer financial watchdog warned on Tuesday that some student loan borrowers could be thrown into default if relatives who co-signed their loans die or declare bankruptcy.
Genco said on Monday Baltic Trading Ltd, a company formed by Genco, and its units are not included in the restructuring program. Genco listed total assets of about $2.46 billion and liabilities of $1.46 billion, as of Feb. 28, according to its bankruptcy petition.
April 21- Genco Shipping& Trading Ltd said it filed for Chapter 11 bankruptcy protection after struggling with weak rates due to an oversupply of vessels. The company said earlier this month it would file for bankruptcy as part of a deal with lenders. Genco said it expects its operations to continue normally.
Mark Karpeles, the CEO of Mt. Gox, said he would not come to the US to answer questions about the Japanese bitcoin exchange's U.S. bankruptcy case
April 14- Mark Karpeles, the chief executive of Mt. Gox lawyers cited a subpoena from the U.S. Department of Treasury's Financial Crimes Enforcement Network, which has closely monitored virtual currencies like bitcoin. The court papers also said a Japanese court had been informed of the issue and that a hearing was scheduled on Tuesday in Japan.
Gox, once the world's biggest bitcoin exchange, is likely to be liquidated after a Tokyo court dismissed the company's bid to resuscitate its business, the court appointed administrator said on Wednesday.
DETROIT, April 17- The federal judge overseeing Detroit's historic bankruptcy case has revived the idea of a regional water authority and also suggested the city may need court oversight after it emerges from bankruptcy.
The Wall Street Journal had earlier reported that Mt. Gox had given up plans to rebuild under bankruptcy protection and had asked a Tokyo court to allow it to be liquidated. Gox and revive it, has received backing from many creditors and hopes to convince the court to reconsider their rehabilitation proposal, the Wall Street Journal reported on Thursday.
The order by Judge Steven Rhodes comes after Detroit said in a court filing earlier this week that it had dropped the concept of a Great Lakes Water Authority from its plan to adjust $18 billion of debt and other obligations and exit from the biggest municipal bankruptcy in U.S. history.
April 17- Chemicals maker DuPont reported a 57 percent fall in first-quarter net income due to the sale of its performance coating business, which added almost $2 billion to earnings in the year-earlier quarter.
April 17- Home Depot Inc is putting a lid on new-store openings and focusing its expansion efforts on e-commerce, which presents some logistical challenges for a retailer that sells a lot of bulky materials, the Wall Street Journal reported.
April 16- Chemtura Corp plans to sell its agrochemicals business to Platform Specialty Products Corp for about $1 billion, the Wall Street Journal reported, citing people familiar with the matter. Chemtura's agrochemicals unit sells chemicals-based products such as insecticides and growth regulators.
GM will ask a bankruptcy court to bar plaintiffs from proceeding with lawsuits related to any actions before it filed for bankruptcy in 2009.
April 16- Signaling a tougher stance toward legal claims stemming from its recent recall over faulty ignition switches, General Motors Co said it will ask a U.S. court to bar lawsuits related to actions before its 2009 bankruptcy.
April 16- General Motors Co said it would ask a U.S. bankruptcy court to bar plaintiffs from proceeding with lawsuits against the automaker for claims related to any actions before it filed for bankruptcy in 2009.. The Texas case was in Re: Charles Silvas and Grace Silvas vs. General Motors LLC in the U.S. District Court, Southern District of Texas, No. 2:14- CV-00089.
April 16- General Motors Co said it will ask a U.S. bankruptcy court to bar plaintiffs from proceeding with lawsuits against the automaker for claims related to any actions before it filed for bankruptcy in 2009.. The California case was in Re: Galdina Maciel et al. vs.