COLUMBUS, Ohio— A funding measure approved this week by Congress would at least postpone hundreds of layoffs for workers handling decontamination and decommissioning of a Cold War-era uranium plant in southern Ohio. It included $13.7 million to continue cleanup of the former Portsmouth Gaseous Diffusion Plant in Piketon until December, Republican Sen.» Read More
Bankruptcy Judge Steven Rhodes that Syncora and the city "have laid down their swords." In a court filing on Monday, Syncora confirmed a "comprehensive settlement" with the city that was still subject to "definitive documentation and resolution of other terms.
Sept 15- Struggling electronics retailer RadioShack Corp, which is teetering on the brink of bankruptcy, said John Feray resigned as chief financial officer last week. Advisory firm AlixPartners has been helping RadioShack with its turnaround since July 2013.
*Leading investors include Harvest Fund Mgt, China Life Insurance, Tencent. HONG KONG/ BEIJING, Sept 14- Sinopec Corp will sell a 107.1 billion yuan stake in its retail unit to a group of 25 Chinese and foreign investors, Asia's top oil refiner said in a statement on Sunday.
ATLANTIC CITY, N.J.— The proposed auction date for the Revel Casino Hotel is too soon and a $3 million breakup fee that would go to a Florida developer if he's outbid for the recently shuttered site is inappropriate, a U.S. Bankruptcy Court trustee said.
RadioShack is evaluating a $585 million financing package led by UBS AG and hedge fund Standard General LP it tries to avert bankruptcy.
Sept 12- RadioShack Corp is evaluating a $585 million financing package led by UBS AG and hedge fund Standard General LP as the U.S. electronics retailer tries to avert bankruptcy, the Wall Street Journal reported, citing people familiar with the matter.
Sept 12- RadioShack Corp confronts an uncomfortable fact as it considers filing for bankruptcy to give it time to overhaul its 4,400 electronics stores: Retailers rarely emerge from bankruptcy.
Trump Entertainment Resorts told The Associated Press it filed the notices earlier this week, saying it could close Nov. 13. Local 54 of the Unite-HERE union says Trump Entertainment wants Taj Mahal workers to give up their health insurance and pension plans in return for keeping the company open.
NEW YORK— RadioShack's credit rating was downgraded by Fitch Ratings Friday, a day after the electronics retailer warned it may need to file for Chapter 11 bankruptcy protection. Fitch said cut RadioShack's issuer default rating one notch to "C'' from" CC, "which puts the retailer's credit rating one level above default.
DENVER— Newmont Mining will sell its 44 percent stake in Mexico's Penmont joint venture for about $450 million. Newmont Mining has raised $1.3 billion from non-core asset sales since last year. Shares of Newmont Mining Corp. fell 5 cents to $25.54 in premarket trading.
DETROIT, Sept 11- A federal judge on Thursday ordered ongoing mediation in Detroit's historic bankruptcy over a potential settlement between the city and one of its fiercest creditors, while adding holdout creditor Financial Guaranty Insurance Co to the list of parties whose attendance is required.
JOHANNESBURG, Sept 11- South Africa- focused bullion producer Sibanye Gold plans to cut up to 2,500 workers at its recently acquired Cooke 4 mine west of Johannesburg, two industry sources told Reuters on Thursday. Job cuts are a thorny issue in South Africa where labor relations in the mining shafts are raw and the unemployment rate is around 25 percent.
BUENOS AIRES, Argentina— Argentina's Congress approved legislation Thursday to restructure the country's debt and sidestep a U.S. court ruling that recently pushed the government into its second default in 13 years. "Argentina wants to pay, can pay and is going to pay all its debts to all bondholders," Fernandez said.
Sept 11- Troubled electronics retailer RadioShack Corp said it may need to file for bankruptcy protection if its cash situation worsens, after reporting its tenth straight quarterly loss.
Sept 11- Troubled electronics retailer RadioShack Corp said it may need to file for bankruptcy if its cash situation worsens, after reporting its tenth straight quarterly loss. RadioShack, whose sales have been in a free-fall since 2010, said it was working with its lenders and landlords to restructure its debt and cut costs.
NEW YORK— RadioShack warned Thursday that it may need to file for Chapter 11 bankruptcy reorganization if it can't rework its debt or find another way to ease a cash crunch. RadioShack, which is based in Fort Worth, Texas, has been working on turning around its business for the past 18 months.
BUENOS AIRES, Sept 11- Argentina's Congress gave final approval on Thursday to a law proposing to restructure the country's debt to skirt a U.S. court ruling that forced it into its second default in 12 years. The debt restructuring plan aims to enable Argentina to make payments on its foreign-held bonds locally or elsewhere beyond the reaches of the U.S. court.
Sept 10- Troubled electronics retailer RadioShack Corp, whose shares swung wildly on Wednesday, is being advised by a restructuring attorney at law firm Jones Day as it tries to strike a deal with creditors to close stores while averting bankruptcy, two people close to the matter told Reuters.
Syncora had argued it had been short-changed compared to other creditors. If approved, the deal will see Syncora drop its objection to the restructuring and the trial- which is studying the feasibility of Detroit's plan to exit bankruptcy- could get a swift approval from U.S.
ATLANTIC CITY, New Jersey— A Florida developer has offered $90 million for the Revel Casino Hotel that shut down last week, lawyers for the resort said Wednesday in court documents. The casino said in the bankruptcy court filing that Glenn Straub's Polo North Country Club, Inc., made the cash bid for the $2.4 billion resort.