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  • Judge appoints examiner in bankruptcy of Caesars division Wednesday, 25 Mar 2015 | 7:20 PM ET

    CHICAGO— A former Watergate prosecutor who was later involved in efforts to secure the release of Americans during the Iran hostage crisis while assistant secretary of the Treasury is now investigating business deals made by Caesars Entertainment Corp. before the casino giant's debt-heavy operations division filed for bankruptcy in January.

  • DETROIT, March 25- The United Auto Workers union on Wednesday said getting raises for workers at the Detroit automakers will be a top priority in contract talks this summer, but more jobs and production are shifting to U.S. plants without unions and Mexico. Earlier this week, General Motors Co said it would build a factory in Mexico to assemble a new generation of...

  • UPDATE 1-RadioShack auction headed for courtroom showdown Wednesday, 25 Mar 2015 | 5:34 PM ET

    March 25- An auction for RadioShack Corp failed to resolve whether the electronics retailer will remain in business as bidders attacked each in court filings, setting up a showdown before a judge on Thursday. By early Wednesday, however, one of RadioShack's lenders, Salus Capital Partners, asked the U.S. Bankruptcy Court judge overseeing the case to intervene.

  • March 25- Wells Fargo& Co, the fourth-largest U.S. bank by assets, said it will cut 1,000 jobs and close its home-lending servicing office in Milwaukee, Wisconsin. Wells Fargo, which will close the office in late July, will inform employees of other job opportunities within the company, the bank said. Shares of Wells Fargo, which had about 265,000 employees as of Dec. 31,...

  • RadioShack lender asks judge to intervene in auction Wednesday, 25 Mar 2015 | 1:35 PM ET

    March 25- A RadioShack Corp lender asked a U.S. Bankruptcy Court judge to intervene in the auction of the electronics retailer and said it had submitted a bid to liquidate the chain that was "materially superior" to one favored by RadioShack. The lender said, however, that RadioShack favored a proposal from hedge fund Standard General, even though its bid included...

  • NEW YORK— Wells Fargo will close its home lending servicing office in Milwaukee and eliminate 1,000 jobs, saying fewer homeowners are falling behind on payments and seeking help keeping their homes. In an emailed statement, Wells Fargo& Co. said Wednesday that as the economy has improved over the last two years, fewer customers have become delinquent on their...

  • What the Kraft-Heinz deal means for food mergers Wednesday, 25 Mar 2015 | 12:01 PM ET
    Kraft Macaroni & Cheese and Heinz Tomato Ketchup

    The merger of Kraft and Heinz could pave the way for future food mergers, but dealmaking will likely dip in the near term, analysts tell CNBC.

  • ZURICH, March 25- Swiss bank Vontobel said it had the firepower for more deals, after agreeing to buy a majority stake in Britain's TwentyFour Asset Management and announcing takeover talks for a German-based asset manager. Zurich- based Vontobel has been restrained in acquisitions since buying Commerzbank's Swiss arm in 2009, despite stressing it has the...

  • MOSCOW— As the economic crisis sweeps through Russia, a dangerous trend is emerging in this heavy-drinking country: the rise in consumption of potentially lethal moonshine, medical alcohol or even cleaning products. Layoffs, wage cuts and price increases are combining to worsen the problem of alcoholism, which has long been a major public health issue, by...

  • Standard General raises bid for bankrupt RadioShack Tuesday, 24 Mar 2015 | 6:20 PM ET
    A customer leaves a RadioShack store in San Francisco and a Sprint store is shown in Fort Lauderdale, Fla.

    Hedge fund Standard General is said to have raised its bid to buy about 1,740 stores of bankrupt electronics retailer RadioShack at auction.

  • NEW YORK, March 24- A turnaround team tasked with reviving Atlantic City says New Jersey's struggling gambling hub must consider cost cuts, layoffs and longer bond maturities, but bankruptcy is not in the cards- yet. "Bankruptcy is not something that we are contemplating," said emergency manager Kevin Lavin on a conference call on Tuesday. Atlantic City's tax base...

  • ATLANTIC CITY, N.J.— Two emergency managers appointed by New Jersey Gov. Chris Christie to turn around Atlantic City's troubled finances recommend layoffs and deep spending cuts, but don't foresee a bankruptcy filing for the struggling casino resort. Kevin Lavin, a corporate turnaround expert, and Kevyn Orr, who shepherded Detroit through its municipal...

  • ATLANTIC CITY, N.J.— A bankruptcy court judge will consider yet again an attempt by the owners of Atlantic City's former Revel casino to sell it to a Florida developer. Judge Gloria Burns has set an April 2 hearing date for Revel AC's latest request to sell the casino to Florida developer Glenn Straub's Polo North Country Club for $82 million.

  • LONDON, March 24- Ukraine's debt burden cannot be restructured by just extending the maturity of its bonds, and creditors are unlikely to benefit if they "hold out" to maximize payments, Finance Minister Natalia Yaresko said on Tuesday. After a year of war and political upheaval that has seen its currency plummet and sent its economy into a tailspin, Ukraine agreed...

  • Mark Welch, chief restructuring officer of Freedom Industries, entered the plea on behalf of the company in federal court to negligent discharge of a pollutant and unlawful discharge of refuse matter, both misdemeanors, and violating a permit condition under the Clean Water Act, a felony. Thousands of gallons of a coal-cleaning agent from Freedom Industries...

  • MOSCOW— A Russian union official said Monday that 15 members have been briefly detained by police as tensions rise in disputes involving Volkswagen and Peugeot factories. Police were quoted by Russia's Interfax agency as saying that 12 activists were held as part of an investigation into a theft near the union office. The union has protested against proposed...

  • The company that makes Louisville Slugger bats has announced a deal to sell the iconic brand to rival Wilson Sporting Goods Co.. Wilson's deal to acquire the global brand, sales and innovation rights from Louisville Slugger's parent, Hillerich& Bradsby Co., still requires approval by H&B shareholders. H&B will continue to manufacture wood bats at its factory...

  • MOSCOW, March 23- German car producer Volkswagen said on Monday it would reduce shifts and lay off at least 150 workers at its Russian car plant in Kaluga, south of the capital Moscow. The carmaker said the Kaluga plant would work four days a week from April to July this year, while in May the number of shifts would decrease to two from three. It added that the production...

  • SHANGHAI, March 23- Laden with debt and struggling to make money as the world's No.2 economy loses momentum, China's steel mills do not appear obvious candidates for overseas expansion. In a draft of a revised restructuring plan for the industry issued late last week, Beijing included a line saying it would support mills' efforts to buy assets abroad, with...

  • NEW YORK, March 22- Government bond issuers are adopting new standards intended to thwart a strategy that's plagued Argentina for 13 years, in which buyers snap up distressed debt for pennies on the dollar and then hold out for full payment after other investors have agreed to restructure. Driving the move to change is the situation in Argentina, lawyers and...