NEW YORK— Sears Holdings Corp. discredited a report Thursday that says it will be shuttering 116 Sears and Kmart stores, resulting in the layoffs of more than 6,000 workers. Broken down, closures include 55 Kmart stores, 30 Sears stores and 31 Sears Auto Center locations, according Seeking Alpha, citing liquidation sale notices. In an email sent to The Associated...» Read More
NEW YORK, July 8- Brent crude fell for its seventh straight session, hitting a one-month low below $110 a barrel on Tuesday on improved prospects for a rise in Libyan oil exports and easing fears of supply disruption in Iraq.
LONDON, July 8- Brent crude fell to a one-month low below $110 a barrel on Tuesday on improved prospects for a rise in Libyan oil exports and easing fears of supply disruption in Iraq.
NEW YORK, July 7- A federal judge has limited the ability of the trustee seeking money for victims of Bernard Madoff's Ponzi scheme to recoup sums allegedly transferred fraudulently outside the United States.
The answer will determine what is left for Genco shareholders after its lenders and other creditors are repaid. Financial advisers at Blackstone, which was retained by Genco to value the company, argued the shipper was worth between $1.36 billion and $1.44 billion based on the market value of its ships and other assets.
*Rubber stocks at Qingdao port fall more than 9 pct from May peak-sources. SINGAPORE, June 24- Rubber stocks in bonded warehouses in China's Qingdao port have fallen about a tenth from a peak in May, partly on reduced demand for the commodity as a loan collateral after a fraud investigation at the port, industry sources said.
*Standard Chartered suspends some metals financing-sources. *Shanghai premiums fall $10 to $95- $115- Shmet. Copper dipped after a bank suspended some metals financing due to a Chinese port investigation, prompting worries the probe may lead to liquidation of finance deals.
June 4- Texas power giant Energy Future Holdings will square off against creditors in bankruptcy court on Thursday over a key question: will borrowing billions of dollars prop up the business or deepen its insolvency?
WILMINGTON, Del, May 12- Judges in Wilmington, Delaware, and Toronto jointly kicked off a novel cross-border trial on Monday to divvy up the $7.3 billion that was raised in the liquidation of once-mighty telecoms equipment maker Nortel Networks, which went bust in 2009..
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."