There's a lot on the agenda as Detroit's emergency financial manager tries to meet a deadline to decide whether the city and escape a bankruptcy filing.» Read More
Banks have stepped up their borrowing from the Federal Reserve, a development encouraged by central bank policymakers to help stem a credit crunch that has roiled Wall Street.
Bank of America's decision to throw Countrywide Financial a $2 billion lifeline is far more than BofA telling Countrywide 'here's some money, pay us back when you can'. Countrywide is paying dearly for the injection.
Delta Air Lines' newly named chief executive, Richard Anderson, foresees further consolidation in the airline industry, but said Delta is not about to make a move to acquire Northwest Airlines.
First Magnus Financial, a national mortgage lender that was on track to fund $36 billion in loans this year, stopped originating new loans Thursday and said it was suspending operations.
Impac Mortgage Holdings has no intention of declaring bankruptcy amid turmoil in U.S. mortgage markets, Chief Executive Joseph Tomkinson said on Wednesday.
Leading European banks BNP Paribas, Deutsche Bank and Commerzbank are among the creditors of HomeBanc, the U.S. mortgage group which filed for Chapter 11 bankruptcy protection.
American Home Mortgage Investment filed for Chapter 11 bankruptcy protection after a tumultuous week in the debt markets brought a once-thriving business to its knees.
Delphi said Monday it tentatively agreed to contracts with four more unions, including one that recently warned a strike was possible if talks stalled.
American Home Mortgage plans to close most operations on Friday and said nearly 7,000 employees will lose their jobs as the lender becomes one of the biggest casualties of the U.S.housing downturn.
Bally Total Fitness Holding, one of the largest U.S. health club operators, has filed for bankruptcy protection, after struggling in recent years with membership declines and too much debt.
A union representing more than 2,000 of Delphi's hourly workers said Friday it has told the auto parts maker that it plans to terminate its contracts, a first step toward a possible strike in October.
The Pension Benefit Guaranty Corporation, the federal agency that insures private defined-benefit pension plans, is taking over payments for nearly 3,000 workers and retirees of Tom's Foods.
Delphi said in a regulatory filing Friday that it contributed about $48 million to its U.S. pension plans. The amount represents the part of the pension contribution related to services rendered by Delphi employees in the second quarter of 2007, the auto supplier said in a filing with the U.S. Securities and Exchange Commission.
Parmalat can be sued by shareholders in a suit involving its predecessor company, Parmalat Finanziaria's collapse into bankruptcy in 2003, a judge ruled.
Casino operator Trump Entertainment Resorts said Monday it did not reach a deal with potential acquirers and has ended discussions to sell itself, sending its shares down 14 percent.
The United Auto Workers said that members have ratified a deal that gives Delphi concessions on wages, benefits and plant closings the auto parts maker has said it must have to exit bankruptcy.
Eagan, Minn.-based Northwest, which emerged from Chapter 11 bankruptcy protection May 31, is citing a higher-than-normal rate of absentee calls as one of the key factors for recent flight delays.
After 18 months in bankruptcy and billions of dollars in losses, power producer Calpine thinks its business is still worth $21.7 billion. But that doesn't necessarily mean there will be anything of value left for the company's current stockholders.
Delphi and the United Auto Workers are very close to completing a labor deal the U.S. auto-parts maker needs to complete its reorganization, two UAW sources said on Wednesday.
New Century Financial has warned that its effort to liquidate assets could be stymied if General Electric Capital is allowed to proceed with plans to seize computers and other equipment it leased to the bankrupt housing lender.