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  • ATLANTIC CITY, N.J.— The crucial summer season will start with three Atlantic City casinos in bankruptcy and one beset by regular pickets and protests. Union members picketed Thursday evening outside the Trump Taj Mahal, in their seventh protest against the casino or soon-to-be-owner Carl Icahn over health insurance and pension benefits canceled by a...

  • May 20- General Electric Co's chief on Wednesday gave a faster timeline for the U.S. conglomerate's massive finance asset sale as he more than doubled a target for benefits from its purchase of Alstom's power equipment business. GE, which announced plans last month to sell $200 billion in GE Capital finance assets, now expects to be largely done with the process...

  • LONDON, May 20- British finance minister George Osborne will set out plans on Wednesday to streamline the sale of 23 billion pounds of bank shares and other publicly owned assets by creating a new government-run company. In a speech to business leaders in London, Osborne will highlight the plan as part of a drive to improve Britain's low productivity- which he...

  • Why M&A is on a tear in 2015 Wednesday, 20 May 2015 | 9:36 AM ET
    Handshake M&A mergers

    Dealmaking hit an eight-year high in Q1 as the cost of doing deals remains low and companies chase growth, THL Partners' Scott Sperling tells CNBC.

  • May 20- Drug developer Lpath Inc said it would cut jobs and costs after its experimental eye drug failed a mid-stage study in patients with wet age-related macular degeneration, a leading cause of blindness in the elderly. Lpath, which had about 25 employees as of March 1, according to a regulatory filing, also said it would re-evaluate its research and...

  • Lpath to cut jobs as eye drug fails mid-stage study Wednesday, 20 May 2015 | 8:14 AM ET

    May 20- Lpath Inc said it would reduce its workforce and cut costs as its experimental drug failed a mid-stage study in patients with wet age-related macular degeneration, a leading cause of blindness in the elderly. Lpath's drug, iSONEP, did not show any statistically significant improvement in visual clarity in patients who had not realized enough benefit...

  • BOSTON— Victims of a 2012 meningitis outbreak caused by a now-closed Massachusetts compounding pharmacy will have access to a $200 million compensation fund, following approval Tuesday by a federal bankruptcy judge. It is part of a plan to liquidate the assets of the Framingham- based center approved by U.S. Bankruptcy Court Judge Henry Boroff.

  • BOSTON, May 19- The now-defunct Massachusetts pharmacy behind a deadly 2012 meningitis outbreak that killed at least 64 people will pay out $200 million to its victims and creditors under a bankruptcy reorganization plan approved on Tuesday. The bankruptcy reorganization plan was approved by U.S. Bankruptcy Court Judge Henry Boroff. Deaths of patients...

  • *Ukraine needs dollars, not words, from creditors- PM. KIEV, May 19- Ukraine passed a law on Tuesday that gives the government the right to halt payments to creditors as it wrangles over the terms for restructuring $23 billion of foreign debt. Ukraine is holding talks to restructure sovereign and state-guaranteed debt to plug a $15 billion funding gap, but...

  • KIEV, May 19- Ukraine's Finance Ministry said on Tuesday it would act on a new law allowing the government to suspend foreign debt payments "unless a good faith collaborative" solution could be found, repeating that any deal would require a writedown of principal. However it said it was hopeful a solution could be found and restructuring terms agreed "rapidly" with...

  • DETROIT, May 19- Aston Martin will decide whether add production at another plant by the end of the year and it would likely be in the United States, the British luxury sports car maker's chief executive told Automotive News. CEO Andy Palmer told the industry publication on Tuesday that the U.S. state of Alabama is the "obvious choice" for a new plant to build the...

  • *PM says Ukraine needs dollars, not words, from creditors. Ukraine is holding talks to restructure sovereign and state-guaranteed debt to plug a $15 billion funding gap, but negotiations have soured in the past week, as bondholders repeated objections to any writedown on the principal owed and Kiev said that stance showed a lack of good faith.

  • *Hyundai already has two plants in India, Kia has none. *Hyundai Motor is second-biggest automaker in India. After meeting Indian Prime Minister Narendra Modi in Seoul, the group's chairman, Chung Mong- koo, told reporters that a new plant in India was under review, according to a Hyundai spokesman.

  • WILMINGTON, Del, May 18- The U.S. Federal Trade Commission on Monday urged a bankruptcy court to protect information that RadioShack Corp collected from tens of millions of customers before the retailer filed for Chapter 11.. RadioShack filed for bankruptcy this year and put up for auction its lists of customer names, e-mail addresses and purchase histories.

  • May 18- Ascena Retail Group Inc, which runs Dressbarn and Lane Bryant women's clothing stores, said it agreed to buy rival Ann Inc, owner of LOFT and Ann Taylor, for $2.15 billion. That works out to $47 per share, representing a 21.4 percent premium to Ann's closing price of $38.71 on Friday. "With the addition of the Ann Taylor and LOFT brands, Ascena will become one of...

  • Last month, solar producer Baoding Tianwei Baobian Electric became China's first ever state-owned company to default on a bond coupon payment, showing Beijing's increasing willingness to let companies go bust in a bid to reform its corporate market. Although onshore and offshore bondholders have equal standing in China's bankruptcy law, lawyers and...

  • WASHINGTON, May 15- United Launch Alliance, a joint venture of Lockheed Martin Corp and Boeing Co, on Friday said it was cutting its executive ranks by 30 percent in December through what it called voluntary departures by 12 executives. ULA, formed by the two largest U.S. weapons makers in 2006, has long been the sole company able to launch U.S. military and...

  • May 15- Blue Bell Creameries said it would lay off about 750 full-time and 700 part-time employees, nearly a month after the ice cream maker voluntarily recalled all its products and stopped production due to bacterial contamination. The cuts will affect about 37 percent of the Brenham, Texas- based company's total workforce of 3,900, a decision Chief...

  • WASHINGTON, May 15- United Launch Alliance, a joint venture of Lockheed Martin Corp and Boeing Co, on Friday said 12 executives would leave the company in December under a voluntary layoff, a 30- percent reduction in executive ranks. Tory Bruno, chief executive of the venture, told Reuters in an emailed statement the layoffs were part of ULA's ongoing efforts to...

  • UNITED LAUNCH ALLIANCE, JOINT VENTURE OF LOCKHEED AND BOEING, SAYS 12 EXECUTIVES LEAVING COMPANY IN DECEMBER UNDER VOLUNTARY LAYOFF.