MINNEAPOLIS— The Roman Catholic Archdiocese of St. Paul and Minneapolis has assets totaling more than $45 million— including about $11 million in real estate— according to a schedule of assets and liabilities filed Friday in U.S. Bankruptcy Court. Archdiocese leaders have said bankruptcy is the best way to fairly compensate victims of clergy sexual abuse...» Read More
TORONTO, Oct 1- Royal Bank of Canada has decided not to divest its U.S. proprietary trading arm in its current form but will work to comply with new regulations there, the lender said on Wednesday. Canada's largest bank by market capitalization said it has been actively working to restructure the proprietary trading business- which uses the bank's own funds- to...
SACRAMENTO, Calif., Oct 1- The judge overseeing the Stockton, California, bankruptcy on Wednesday ruled the state's huge pension system, Calpers, can be impaired as part of the city's financial restructuring. Bankruptcy Judge Christopher Klein said the city's contract with the California Public Employees' Retirement System could be rejected.
Oct 1- The New York Times Co said on Wednesday it would cut jobs, including about 7.5 percent of newsroom positions, to lower costs as advertising revenue from its print business dwindles and new products fall short of expectations. The company's shares rose as much as 9 percent.
Oct 1- The New York Times Co said on Wednesday it would cut jobs to lower costs and invest the savings in its "digital future" as advertising revenue from its print business dwindles, sending the company's shares up 7 percent.
Oct 1- The New York Times Co said it planned to cut jobs to lower costs and invest the savings in its "digital future." "The reduction in positions will vary across the company," the New York Times said in a regulatory filing.
Oct 1- Brookfield Asset Management won the auction for Atlantic City's bankrupt Revel Casino Hotel with a $110 million bid, said two sources familiar with the situation. Revel Casino, which cost $2.4 billion to build, opened in 2012 and closed on Sept. 2 after filing for its second bankruptcy in June.
Oct 1- Brookfield Asset Management has won the auction for Atlantic City's bankrupt Revel Casino Hotel, said a source familiar with the situation. The company bid $110 million for the casino complex, topping a $90- million bid by Florida real estate developer Glenn Straub, who did not submit a superior bid by 5.00 a.m. ET, the source said.
ZURICH, Sept 30- Cement makers Holcim and Lafarge are stepping up plans to shed assets in order to win clearance from competition regulators for their planned mega-merger, including possibly spinning them off into a new company.
Sept 29- A U.S. judge held Argentina in contempt of court on Monday, saying the republic was trying to find ways to circumvent a prior order requiring it pay holdout bondholders at the same time as other creditors who restructured their debt in recent years.
DUBAI, Sept 29- Dubai's Emaar Properties has priced the initial share sale of its malls business at the top end of the proposed range, marking another milestone in the return of investor confidence in the Gulf Arab state after the financial crisis.
Sept 26- Michigan officials on Friday signed off on four bond issues totaling $1.1 billion that would fund Detroit's exit from the biggest-ever municipal bankruptcy.
DETROIT, Sept 25- Kevyn Orr will end his 18- month term as Detroit's emergency manager this week, leaving a city still mired in operational and fiscal uncertainty and arguing in court for approval of its bankruptcy plan.
"The stock is correct in going higher" in response to the deal, says CNBC's Jim Cramer.
Pharma giant Pfizer has been in talks for a potential acquisition of its rival Actavis in recent weeks, according to the WSJ.
BEIJING, Sept 23- Chinese state metals trader Sinosteel Corp is not about to undergo a restructuring as a result of mounting debt, a company official said on Tuesday, denying domestic media reports.
Sept 23- Trading firm KCG Holdings Inc said it has begun cutting 4 percent of its workforce to focus on areas with potential for growth.
LONDON, Sept 23- Recent stirrings of long-dormant financial market volatility have come in the nick of time for an industry that has been bleeding revenue and jobs for years, even though bankers doubt the secular downsizing of the trading world can be reversed.
Sept 23- Procter& Gamble Co said it would sell the last of its pet food business to consumer products company Spectrum Brands Holdings Inc as it focuses on more profitable lines such as Tide detergent, Gillette razors and Pampers diapers.
LONDON, Sept 23- Ukraine's dollar bonds suffered a sharp selloff on Tuesday, plunging to multi-month lows as investors priced in the growing probability of debt restructuring and lower recovery rates for bondholders.
The US government has been promising a crackdown on tax inversion deals for months. Yet the measures announced Monday may not be disincentive enough.