WASHINGTON, Dec 3- U.S. banks are likely to cut back on risky short-term funding if markets believe bankruptcy not bailouts await them, a top Federal Reserve is set to tell lawmakers on Tuesday.» Read More
Nov 6- China's Suntech Power Holdings Co Ltd, once the world's largest maker of solar panels, filed for provisional liquidation, signaling that it may go out of business after years of steep declines in panel prices. Suntech's shares fell as much as 23 percent to $1.15 on the New York Stock Exchange on Wednesday.
RIO DE JANEIRO/ SAO PAULO, Nov 6- OSX Brasil SA, the Brazilian shipbuilder controlled by former billionaire Eike Batista, is considering seeking court protection from creditors as early as Wednesday, three sources with direct knowledge of the plans told Reuters.
Nov 6- Suntech Power Holdings Co Ltd, once the world's largest maker of solar panels, said it had filed an application for provisional liquidation in the Cayman Islands, where the New York- listed Chinese company is incorporated.
NEW YORK, Nov 4- Billionaire investor Steven A. Cohen's days as a hedge fund manager may be over with his SAC Capital Advisors agreeing to plead guilty to insider trading charges and pay a record $1.8 billion in fines and forfeitures.
Nov 4- Ireland's Velti Plc said it would sell its mobile marketing business in the United States, Britain and India to a unit of Blackstone Group LP, and that it had filed for bankruptcy under Chapter 11 for its remaining U.S. operations.
TOKYO, Nov 4- The operator of Japan's wrecked Fukushima nuclear plant is working on a reorganization plan to fend off more drastic proposals, including possibly dragging the company through bankruptcy in return for a publicly funded clean-up and shutdown of the reactors.
*Brent as low as $106.64, down over $2. NEW YORK, Nov 1- Oil prices fell broadly on Friday, heading for a large weekly percentage decline, as a strong dollar and ample supplies outweighed concerns about a drop in Libyan crude exports. Brent crude for December delivery was down by $2.15 to $106.69 a barrel by 1:23 p.m. EDT after falling to a session low of $106.56.
Oct 31- Senior lenders to Energy Future Holdings are upset that the company plans to make a critical interest payment to junior bondholders on Friday, but they likely have no legal recourse to prevent it, according to experts and people close to the matter.
*Suntech has until Nov. 6 to respond to the filing. Oct 31- Chinese solar panel maker Suntech Power Holdings Co Ltd said it intended to contest a bankruptcy petition filed against it in the United States by some bondholders.
SAO PAULO, Oct 31- Brazilian investment firm Cambuhy Investimentos Ltda and Germany's E.ON SE joined to buy control of OGX Petróleo e Gás Participações SA's gas unit for 250 million reais, helping the beleaguered oil company raise funds after seeking court protection from creditors.
CHICAGO, Oct 30- Two years ago on Halloween thousands of U.S. grain farmers got the scare of their lives when broker MF Global collapsed and more than a billion dollars of their money went missing. MF Global customers have now, through a court-appointed trustee, recovered about 98 percent of the money, which had been in supposedly "safe" margin accounts.
Oct 30- OGX Petróleo e Gas Participações SA, the Brazilian oil company controlled by former billionaire Eike Batista, sought court protection from creditors on Wednesday in Latin America's largest-ever corporate bankruptcy filing.
NEW YORK, Oct 30- A federal judge has made it easier for the trustee seeking money for Bernard Madoff's victims to pursue more than $8 billion of claims against banks and other financial firms that received money from "feeder funds" that profited from the swindler's massive Ponzi scheme.
SAO PAULO/ RIO DE JANEIRO/ NEW YORK, Oct 28- A ttempts to save Eike Batista's flagship oil company, the business most responsible for the meltdown of his once high-flying industrial empire, have been hampered by internal conflict and unpredictable decisions by the Brazilian tycoon, sources with direct knowledge of the situation told Reuters.
Oct 23- Strong demand for W.R. Grace& Co's construction, packaging and coatings materials helped quarterly profit scrape past analysts' estimates, even as prices of chemical catalysts, its main business, remained low.
*Third-qtr earnings 99 cents/ shr vs loss of $1.49 year earlier. Oct 22- CIT Group Inc reported its third straight quarterly profit that also beat analysts' estimates as the century-old small-business lender benefited from lower interest payments on its long-term debt.
NEW YORK, Oct 18- Ernst& Young has agreed to pay $99 million to former Lehman Brothers investors who have accused the auditor of helping Lehman misstate its financial records before the investment bank's collapse triggered a financial crisis in 2008..
NEW YORK, Oct 18- Former Lehman Brothers investors have reached a $99 million settlement with Ernst& Young, the defunct financial firm's erstwhile auditor, over allegations it helped Lehman misstate its financial records.
LOS ANGELES, Oct 18- Power company NRG Energy Inc on Friday said it would pay $2.635 billion to acquire the assets of bankrupt unregulated power producer Edison Mission Energy, adding nearly 8,000 megawatts of coal, gas and wind generation to its business. Princeton, New Jersey- based NRG will also assume $1.545 billion of EME's non-resource debt.
LOS ANGELES, Oct 18- Power company NRG Energy Inc on Friday said it would pay $2.635 billion to acquire the assets of bankrupt unregulated power producer Edison Mission Energy, adding nearly 8,000 megawatts of electricity generation capacity to its business.