BERLIN— Sports equipment maker Adidas has lowered its full-year profit target, citing risks in the Russian market and weakness at its golf business. Adidas AG, based in Herzogenaurach, Germany, said Thursday it now expects net profit of about 650 million euros this year, down from its previous forecast of between 830 and 930 million euros.» Read More
The Wall Street Journal had earlier reported that Mt. Gox had given up plans to rebuild under bankruptcy protection and had asked a Tokyo court to allow it to be liquidated. Gox and revive it, has received backing from many creditors and hopes to convince the court to reconsider their rehabilitation proposal, the Wall Street Journal reported on Thursday.
April 2- A plan being discussed to reorganize power company Energy Future Holdings Corp will all but wipe out the investments of owners KKR& Co, TPG Capital and Goldman Sachs Capital Partners, Bloomberg reported.
NEW YORK, April 1- U.S. retail investors have raced to scoop up the government's newly launched platinum coins, data shows, as industrial metals prices outperformed bullion, a long-time favorite among collectors. Platinum held by the world's major exchange-traded funds was currently at their highest level in at least four years, Reuters data showed.
March 28- Leading Texas power company Energy Future Holdings is widely expected to file for bankruptcy in the coming days, the victim of a record-breaking buyout that piled it with debt just as prices for its electricity plunged.
TOKYO, March 28- A deadline for a court-mandated investigation into why bitcoin exchange Mt. The Tokyo District Court had set a Friday deadline for Nobuaki Kobayashi, a partner at Nagashima Ohno& Tsunematsu, to report on his investigation into the collapse last month of what was once the world's largest bitcoin exchange.
March 26- Global Geophysical Services Inc, a provider of seismic data to oil and gas companies, filed for bankruptcy due to heavy debt and said it was seeking court approval for $60 million in debtor-in-possession financing. The company and some of its units made a Chapter 11 filing in the U.S. Bankruptcy Court in Corpus Christi, Texas.
NEW YORK, March 25- Former customers of Bernard Madoff will have recouped nearly $6 billion of their money if a federal bankruptcy judge approves the latest payout request by the trustee liquidating the swindler's firm.
NEW YORK, March 24- Detroit's emergency manager expects the city's $18 billion bankruptcy plan to win court approval by the fall despite obstacles such as a dispute over swap agreements and a vote by retirees on the plan that could potentially slow or derail the process.
*Heavy restocking seen in China, some gold scrap seen. LONDON, Feb 18- Net gold demand fell 15 percent in 2013 as huge outflows from physically backed investment funds outweighed record consumer demand but that disinvestment is tailing off this year, the World Gold Council said on Tuesday.
*Gold demand hit 4- year low as investors sold holdings. *Heavy restocking seen in China, some gold scrap seen.
Loehmann's, the 92-year-old discount clothing chain, has filed for bankruptcy protection for a third time and said it is prepared to sell its assets to a group of liquidators.
Orchard Supply Hardware Stores has filed for Chapter 11 bankruptcy protection, with rival retailer Lowe's Companies set to buy the majority of its assets for $205 million in cash.
Specialized hedge funds which transformed corporate bankruptcies may be poised to descend on another landscape: struggling cities and counties - and no place beckons more than Detroit.
Under conditions to be announced Saturday, depositors in Bank of Cyprus will get shares in the bank worth 37.5 percent of their deposits over 100,000 euros, while the rest may never be paid back.
The president of Cyprus said on Friday the risk of bankruptcy had been contained and the country had no intention of leaving the euro.
"Did you know that a silent killer is lurking in your company? We’re talking about workplace frustration, which can undermine the energy, enthusiasm, and performance of your best talent."