WILMINGTON, Del.— Trump Entertainment Resorts says a new $20 million pledge by billionaire investor Carl Icahn will give it time to restructure while keeping the struggling Taj Mahal casino open. Trump attorneys said Monday that Icahn's proposal, $15 million more than his previous bankruptcy financing offer, runs through Dec. 31, 2015. The revised plan omits a...» Read More
Luminent Mortgage Capital, which has struggled with liquidity problems because of mortgage investments, Tuesday said it has reduced its debt exposure and cut staff, helping to stabilize its business.
General Motors in its contract negotiations with the United Auto Workers union has proposed one option that excludes establishing a union-run healthcare trust but calls for deeper cuts in several areas, the Wall Street Journal reported in its online edition.
Weyerhaeuser, one of the world's largest paper and lumber companies, said Monday that it would probably have to close plants and restrict operations because of weak market conditions.
U.S. health regulators charged Boston Scientific with inadequate record-keeping and reporting following the deaths of five patients implanted with an experimental device to treat a dangerous ballooning of the body's main artery.
Countrywide Financial, the largest U.S. mortgage lender, said Friday it would cut up to 12,000 jobs, the biggest job reduction by a single company to stem from the deepening U.S. housing crisis.
Shares in HSBC Holdings were untroubled on Friday after a surprise late-night assault from activist investor Knight Vinke, as analysts said Europe's biggest bank was already working to address shareholder worries.
Former U.S. Securities and Exchange Commission Chairman Richard Breeden won three seats on H&R Block's board Thursday, advancing his efforts to refocus the company on its tax preparation business.
Lehman Brothers Holdings said Thursday it will fire another 850 workers, or about 3 percent of its work force, as it scales back its mortgage lending efforts globally.
Medical device maker Medtronic, feeling the pinch of a slowdown in one of its key markets, will eliminate about 900 jobs through early retirement packages, voluntary and involuntary separations, the company said in a filing.
Ace Hardware discovered an approximately $154 million shortfall on its books while preparing to convert from retailer-owned cooperative to for-profit corporation and likely will have to restate its financial results for the last five years, President and CEO Ray Griffith said Wednesday.
General Mills said in a regulatory filing on Tuesday that it would close two plants that make frozen waffles and dough, cutting about 580 jobs.
The state of Ohio has filed an anti-trust lawsuit accusing Marsh & McLennan, AIG and three other insurers and their subsidiaries of price fixing and other anti-competitive behavior, Attorney General Marc Dann said on Monday.
Shares of Home Depot rose as much as 2 percent Monday after sources said the home improvement retailer agreed to cut the price in the sale of its supply unit by $1.8 billion to $8.5 billion.
Altria Group is widely expected to announce plans for the spinoff of its Philip Morris International unit this week, but some analysts see limited gains for a stock that already looks more expensive than its peers.
Crocs said Monday it will launch a line of clothing using a form of the resin material it uses in its brightly colored clogs, sending the shoe company's shares up 3 percent.
Home Depot agreed to cut the price in its supply division sale to buyout firms by $1.8 billion, sources said on Sunday, as a housing market drop and a credit crunch forced all sides to renegotiate.
Shares of Home Depot were up 1.3 percent Friday as investors waited for word about whether a sale was on or off for the home improvement retailer's contractor business.
Krispy Kreme Doughnuts said Friday that it is realigning its franchise and company store operations, a move that should help the company improve sales at existing locations and cut costs.
BHP Billiton, the world's biggest mining company, said it would seek to grow aggressively in India where volume growth is outstripping China, its other boom market.
Shares of Thornburg Mortgage, Accredited Home Lenders Holding and other mortgage stocks were trading higher before the opening bell Thursday after Bank of America made a $2 billion investment in Countrywide Financial.