NEW YORK— IBM says its first-quarter earnings fell because of a large charge related to reorganizing its work force. IBM Corp. said Wednesday that it earned $2.38 billion, or $2.29 per share, in the January-March period. For the full year, IBM expects adjusted earnings of at least $18 per share.» Read More
April 11- Women's clothing retailer Coldwater Creek Inc on Friday filed for Chapter 11 bankruptcy, the latest in a growing list of retailers to seek protection from creditors as consumers keep a lid on spending. Coldwater Creek last October announced plans to seek strategic alternatives, including a possible sale.
PARIS/ BERLIN, April 11- Japanese casual wear chain Uniqlo opens its first store in Germany on Friday, as it accelerates expansion in Europe in a bid by its parent company Fast Retailing Co Ltd to become the world's top fashion retailer by 2020.. "We have big goals in Europe- we would like to have the same business in Europe as in the U.S."
*Could make it easier to find buyer for Nickel West division in Australia. SYDNEY, April 11- Breakthroughs in the way BHP Billiton processes nickel ores could help the world's biggest miner find a buyer for its ailing Nickel West division in Australia.
MILWAUKEE— Oshkosh Corp. said Thursday it plans to eliminate about 760 jobs from its defense division this summer, or 29 percent of the group's workforce, a decision driven by lower demand for its mine-resistant trucks and other military vehicles.
BILLINGS, Mont.— A federal judge has awarded fees and costs to a former bankruptcy trustee and his lawyers who oversaw attempts to reorganize a Montana power cooperative. Bankruptcy Judge Ralph Kirscher said in a recent order that the fees sought by ex-trustee and Livingston attorney Lee Freeman were reasonable.
The bank has hired West Palm Beach, Florida- based FTI Consulting, a global advisory firm that includes restructuring and turnaround experts.
Family Dollar said Thursday that will cut jobs and close about 370 underperforming stores as it tries to reverse sagging sales and earnings. Family Dollar has stumbled even more than its rivals because it has made mistakes in pricing, merchandising and the locations of its stores, analysts say.
April 10- Heavy equipment retailer Titan Machinery Inc said it would cut about 12 percent jobs in its construction unit and the company posted a 10 percent drop in quarterly revenue. Titan also estimated revenue of $1.95 billion to $2.15 billion for the year ending Jan. 31, 2015.
April 10- Farm equipment retailer Titan Machinery Inc reported a 10 percent drop in quarterly revenue and said it would reduce its workforce at its construction business by about 12 percent. Revenue fell to $708.6 million in the fourth quarter ended Jan. 31 from $784.5 million a year earlier.
April 9- Bank of America Corp said on Wednesday that it will close three foreign offices and eliminate about 3,000 jobs over the next nine to 12 months in an effort to simplify its global operations.
DETROIT— Some creditors in Detroit's bankruptcy with eyes on city-owned art say they've found buyers willing to pay more than $1 billion for parts or all of the collection. The creditors are asking bankruptcy Judge Steven Rhodes to order Detroit to cooperate with interested parties.
DETROIT— The city of Detroit reached a deal in bankruptcy over $388 million in bonds, mediators announced Wednesday, a significant agreement that could influence other creditors to try to get a settlement. Detroit will pay 74 cents for each dollar. Detroit emergency manager Kevyn Orr, appointed by the state to run the city, said he hopes to announce more deals soon.
BANKRUPTCY-COURT APPOINTED MEDIATOR WILL MAKE ANNOUNCEMENT ON SETTLEMENT LATER WED MORNING-CITY SPOKESMAN.
April 8- German carmaker BMW is planning a second North American factory to cater to the rising demand for its vehicles, Bloomberg reported on Tuesday.
RAMALLAH, West Bank, April 8- The Palestinian Authority said on Tuesday it plans to issue bonds to banks as part of a restructuring of its sizeable debts, in what will be the first sale of government bonds in the territory's 20- year history. Jihad Al Wazir, head of the Palestinian Monetary Authority, said around $200 million of debt would be converted to bonds.
NEW YORK— The theater operator Imax said Tuesday that the Chinese investment fund CMC Capital Partners and Chinese private equity firm FountainVest Partners are buying a 20 percent stake in its operations in China for $80 million.
HELSINKI, April 8- Nokia has received approval from Chinese authorities to sell its mobile phone business to Microsoft Corp, it said on Tuesday, and added there had been no request for it to change its patent practices. Nokia agreed in September to sell the business to Microsoft in a 5.4 billion euro deal.
April 7- James River Coal Co filed for Chapter 11 bankruptcy protection after struggling with a steep drop in prices and demand for both thermal and steel-making coal. Coal companies have also been hit by President Barack Obama's push for stricter regulation of greenhouse gas emissions by the Environmental Protection Agency.
RICHMOND, Va.— James River Coal Co. says it has filed for Chapter 11 bankruptcy protection as part of its efforts to turn around its business. The Richmond, Va.- based company says it faces challenges from the weak economy, environmental regulations and competition from natural gas.
April 7- James River Coal Co filed for Chapter 11 bankruptcy protection on Monday after struggling with weak prices. The company said it would continue to evaluate potential alternatives such as a capital investment through a plan of reorganization or a sale of one or more parts.