The company, operator of Sears department stores and the Kmart discount chain, has been selling or spinning off assets and closing stores for the past few years to try to turn around its business. Sales have been dropping since Lampert combined Sears and Kmart in an $11 billion deal in 2005..» Read More
Nov 26- The U.S. Supreme Court will hear a dispute in the bankruptcy of a small-town pizza shop owner, taking on a case that could dictate how inherited individual retirement accounts are treated in bankruptcy.
WASHINGTON, Nov 25- The United States Defense Department has approved a deal under which the U.S. unit of Britain's BAE Systems Plc would upgrade 134 older F-16 fighter jets for South Korea, the Defense Security Cooperation Agency notified Congress on Monday.
Nov 25- The judge overseeing Detroit's historic bankruptcy petition set Dec. 3 as the date for issuing his decision on whether the cash-strapped city may formally enter municipal bankruptcy, according to a court filing posted Monday. Judge Stephen Rhodes will hand down his ruling in federal bankruptcy court in Detroit at 9 a.m. that day.
NEW YORK, Nov 25- The parent company of American Airlines on Monday asked a bankruptcy court to approve a settlement with U.S. regulators that would allow it to merge with rival US Airways Group and create the world's largest airline.
WILMINGTON, Del., Nov 25- The bankruptcy of Fisker Automotive could end up costing the U.S. government much more than the $168 million it loaned to the maker of the Karma plug-in hybrid sports car.
*Financial markets and depositors calm after Master Bank failure. MOSCOW, Nov 24- The problems exposed in Russia's banking system by last week's collapse of mid-sized lender Master Bank are deep-rooted, but in contrast with banking failures of the past there was no evidence this time of other banks' customers taking fright.
DETROIT, Nov 22- Fisker Automotive, the moribund maker of the Karma plug-in hybrid sports cars that was backed with a loan by the U.S. government, filed for Chapter 11 bankruptcy protection on Friday after lengthy efforts by investors to salvage the company.
DETROIT, Nov 22- Fisker Automotive, the moribund maker of the Karma plug-in hybrid sports cars, agreed to sell itself to an investor group on Friday and filed for Chapter 11 bankruptcy protection.
RIO DE JANEIRO, Nov 21- A Brazilian judge on Thursday accepted a request for bankruptcy protection from former billionaire Eike Batista's oil company, OGX, but denied the same protection for two small foreign subsidiaries in a potential setback for the company.
RIO DE JANEIRO, Nov 21 (Reuters)- A Brazilian judge on Thursday denied bankruptcy protection for the foreign subsidiaries of OGX in a decision that may complicate the recovery of the oil company, which is controlled by former billionaire Eike Batista.
BIRMINGHAM, Ala., Nov 21- A U.S. judge on Thursday approved a landmark settlement between Alabama's bankrupt Jefferson County and creditors that locks in more than $1 billon of losses for Wall Street and clears a path to end the second-biggest U.S. municipal bankruptcy case.
RIO DE JANEIRO, Nov 21- A Brazilian judge accepted a request for bankruptcy protection by former billionaire Eike Batista's oil company, OGX Petróleo e Gas Participações SA, but denied the same protection for its foreign subsidiaries, a company lawyer told Reuters on Thursday.
SAN FRANCISCO, Nov 21- Intel CEO Brian Krzanich said on Thursday he planned to expand his company's small contract manufacturing business, opening the way for more chipmakers to tap into the world's most advanced process technology.
SAN FRANCISCO, Nov 21- Intel CEO Brian Krzanich said on Thursday he plans to expand his company's small contract manufacturing business, opening the way for more chipmakers to tap into the world's most advanced process technology.
MADRID, Nov 21- Santander is to sell its real estate management business Altamira to U.S. private equity group Apollo Global Management, likely to be the largest deal of its kind so far in Spain where the property market is starting to thaw.
HELSINKI, Nov 21- Nokia has asked the Delhi High Court to help release its Indian factory after its seizure by the local tax authorities, the Finnish firm said on Thursday as it seeks to resolve the tax dispute ahead of the sale of its mobile phone business to Microsoft.
HELSINKI, Nov 21- Nokia said on Thursday it has asked the Delhi High Court to help revoke a seizure of its Indian factory by the local tax authorities, seeking to resolve the dispute ahead of the sale of its mobile phone business to Microsoft.
Nov 20- The United States rejected Fairholme Capital Management's recapitalization proposal of Fannie Mae and Freddie Mac, saying the only way to revamp the home loan market is through proper housing finance reform, according to Gene Sperling, a senior adviser to the president.
NEW YORK, Nov 20- Bankrupt mortgage lender Residential Capital LLC made no effort to put a value on the legal claims that are now an obstacle to its plan to repay creditors, the company's restructuring chief said on Wednesday.
*ThyssenKrupp says in exclusive talks to sell U.S. plant. *ThyssenKrupp pushes back results to Dec. 2 from Nov. 21. FRANKFURT, Nov 20- Germany's ThyssenKrupp is nearing a long-awaited sale of its U.S. steel plant and has reached an agreement to settle a cartel lawsuit, clearing the way for it to raise much-needed capital.