Company: Fortress Investment Group

Ally Financial's mortgage unit on Monday filed for bankruptcy and the auto lender said it will sell some international operations to help it get on a path to repaying $12 billion in bailout money.

The U.S. government is hoping that Monday's bankruptcy filing by Ally Financial Inc.'s troubled mortgage business will help the company repay its government bailout faster.

(Reuters) - Philip Falcone's telecom start-up LightSquared <MOSAV.UL> edged closer to a bankruptcy filing on Sunday as the hedge fund manager was far from an agreement with creditors, sources familiar with the matter said.

NEW YORK (Reuters) - Ally Financial Inc's Residential Capital unit is nearing a bankruptcy filing, sources familiar with the situation said on Sunday, in a move that could help the taxpayer-owned auto lender to shed its troubled mortgage business but also spur drawn-out legal fights.

LONDON (Reuters) - Investors in some of the best-known commodity hedge funds are getting increasingly frustrated by their performance, with some heading for the exit as managers rack up a second year of losses.

NEW YORK (Reuters) - Three prominent commodity hedge funds have closed in the last month, signaling that both fund managers and investors are growing less patient with unspectacular returns than they were even five years ago, the head of hedge funds at European asset manager Feri said on Thursday.

NEW YORK (Reuters) - Three prominent commodity hedge funds have closed in the last month, signaling that both fund managers and investors are growing less patient with unspectacular returns than they were even five years ago, the head of hedge funds at European asset manager Feri said on Friday.

(Reuters) - Ally Financial and creditors of the lender's Residential Capital unit are in general agreement on a plan to put the mortgage subsidiary into bankruptcy in a deal that could speed up and ease the process, a person familiar with the matter said.

NEW YORK/CHARLOTTE, North Carolina (Reuters) - In the fall of 2009, the board of GMAC, one of the largest U.S. auto and home-loan companies, gathered in New York to discuss whether to put its troubled mortgage unit into bankruptcy.

NEW YORK/CHARLOTTE, North Carolina (Reuters) - In the fall of 2009, the board of GMAC, one of the largest U.S. auto and home-loan companies, gathered in New York to discuss whether to put its troubled mortgage unit into bankruptcy.

NEW YORK/CHARLOTTE, North Carolina (Reuters) - In the fall of 2009, the board of GMAC, one of the largest U.S. auto and home-loan companies, gathered in New York to discuss whether to put its troubled mortgage unit into bankruptcy.

NEW YORK/CHARLOTTE, North Carolina (Reuters) - In the fall of 2009, the board of GMAC, one of the largest U.S. auto and home-loan companies, gathered in New York to discuss whether to put its troubled mortgage unit into bankruptcy.

NEW YORK (Reuters) - Hedge fund manager Philip Falcone's LightSquared is avoiding a default for now on about $1.6 billion of debt after creditors of the upstart wireless telecom company agreed to extend negotiations for a week, source familiar with the matter said.

NEW YORK (Reuters) - The clock is ticking for hedge fund manager Philip Falcone to reach a deal by Monday morning with debt holders of LightSquared, the upstart wireless telecom controlled by Falcone's Harbinger Capital, or face a possible bankruptcy.

NEW YORK (Reuters) - The clock is ticking for hedge fund manager Philip Falcone to reach a deal by Monday morning with debt holders of LightSquared, the upstart wireless telecom controlled by Falcone's Harbinger Capital, or face a possible bankruptcy.