Hertz files for U.S. bankruptcy protection as car rentals evaporate in pandemic
NEW YORK (Reuters) – The more than a century old car rental firm Hertz Global Holdings Inc filed for bankruptcy…
U.S. Bankruptcy Court allows J.C. Penney to keep paying staff and vendors
(Reuters) – J.C. Penney Co Inc (JCP.N) said on Saturday a U.S. Bankruptcy Court will allow it to keep paying…
J. Crew files for bankruptcy as preppy retailer succumbs to COVID-19 fallout
(Reuters) – J. Crew Group Inc filed for bankruptcy protection on Monday with a plan to hand over control to…
Exclusive: Investors to challenge Neiman Marcus bankruptcy loan, push for sale – sources
(Reuters) – An investor group that comprises investment firm Mudrick Capital Management LP and Daniel Loeb’s hedge fund Third Point…
Bankruptcy looms over U.S. energy industry, from oil fields to pipelines
NEW YORK (Reuters) – U.S. shale producers, refiners and pipeline companies are scrambling for cash and face likely restructuring as…
Honeywell renews $1.5 billion revolving credit agreement
FILE PHOTO – A logo of Honeywell is pictured on their booth during the European Business Aviation Convention & Exhibition…
Apple unlikely to meet revenue guidance due to coronavirus impact
(Reuters) – Apple Inc (AAPL.O) said on Monday it would not meet its revenue guidance for the March quarter because…
California governor rejects PG&E bankruptcy reorganization plan
(Reuters) – California Governor Gavin Newsom on Friday rejected a bankruptcy reorganization plan submitted by PG&E Corp (PCG.N), the state’s…
CBS ordered to disclose internal records on Viacom deal
(Reuters) – A Delaware judge on Monday ordered broadcaster CBS Corp to turn over records regarding its plan to reunite…
Groups bidding for PES refinery due to tour fire-damaged site: sources
NEW YORK (Reuters) – Groups vying for the idled Philadelphia Energy Solutions oil refinery have entered the second phase of…
BlackRock names Mehta head of human resources: memo
NEW YORK (Reuters) – BlackRock Inc (BLK.N), the world’s largest asset manager has appointed Manish Mehta as global head of…
PG&E says it has $34.45 billion in debt financing for reorganization
SAN FRANCISCO (Reuters) – PG&E Corp said in court papers on Friday it has debt financing commitments of $34.35 billion…
Sacklers reaped up to $13 billion from OxyContin maker, U.S. states say
(Reuters) – OxyContin maker Purdue Pharma LP steered up to $13 billion in profits to the company’s controlling Sackler family,…
As Thomas Cook customers return home, blame game begins
LONDON/NEW YORK (Reuters) – Prime Minister Boris Johnson and unions questioned the part played by Thomas Cook’s richly rewarded bosses…
Philip Green prepares to break up his Arcadia Group: Sunday Times
Sir Philip Green attends the TopShop Spring/Summer 2018 show at London Fashion Week in London, Britain September 17, 2017. REUTERS/Mary…
SoftBank plans to lend up to $20 billion to employees to invest in new fund: WSJ
Japan’s SoftBank Group Corp Chief Executive Masayoshi Son attends a news conference in Tokyo, Japan, November 5, 2018. REUTERS/Kim Kyung-Hoon…
Court leaves PG&E with sole right to submit bankruptcy plan
FILE PHOTO: PG&E crew work to repair damage caused by the Camp Fire in Paradise, California, U.S. November 21, 2018.…
PES up against the clock to sell Philadelphia refinery in cash crunch
NEW YORK (Reuters) – Finding a buyer for Philadelphia Energy Solutions’ oil refinery has grown urgent as the bankrupt company’s…
Exclusive: J.C. Penney taps debt restructuring advisers – sources
(Reuters) – J.C. Penney Co Inc (JCP.N) has hired advisers to explore debt restructuring options that would buy more time…
Deutsche Bank board to meet July 7 to decide on cutting jobs: sources
FILE PHOTO: The Deutsche Bank headquarters are pictured in Frankfurt, Germany, April 25, 2019. REUTERS/Ralph Orlowski/File Photo FRANKFURT (Reuters) –…
Goldman Sachs combining its private-investing units: WSJ
FILE PHOTO: The Goldman Sachs company logo is seen in the company’s space on the floor of the New York…
Philip Green’s Arcadia avoids collapse as creditors back deal
LONDON (Reuters) – Philip Green’s Topshop-to-Dorothy Perkins fashion empire staved off a collapse into administration on Wednesday as creditors approved…
Jet Airways founder Naresh Goyal and wife stopped from leaving India – airport official
(Reuters) – Indian carrier Jet Airways (India) Ltd founder Naresh Goyal and his wife Anita Goyal were stopped from leaving…
Jet Airways founder Naresh Goyal and wife stopped from leaving India – airport official
(Reuters) – Indian carrier Jet Airways (India) Ltd founder Naresh Goyal and his wife Anita Goyal were stopped from leaving…
Sears sues Lampert, claiming he looted assets and drove it into bankruptcy
NEW YORK (Reuters) – Sears Holdings Corp sued longtime former Chairman Eddie Lampert, his hedge fund ESL Investments and others…
Oklahoma drops several claims in opioid case against J&J, Teva
(Reuters) – Oklahoma’s attorney general on Thursday had dropped all but a single claim against Johnson & Johnson and Teva…
OxyContin maker Purdue agrees to settle Oklahoma opioid case: source
(Reuters) – Purdue Pharma LP has agreed to settle a lawsuit by the state of Oklahoma accusing the OxyContin painkiller…
Exclusive: OxyContin maker Purdue Pharma exploring bankruptcy – sources
(Reuters) – OxyContin maker Purdue Pharma LP is exploring filing for bankruptcy to address potentially significant liabilities from roughly 2,000…
Payless ShoeSource to start liquidation sales at stores
FILE PHOTO: A Payless ShoeSource store logo is pictured in the Manhattan borough of New York, New York, U.S. April…
Mexico to inject $3.9 billion in Pemex, seeks to prevent credit downgrade
MEXICO CITY (Reuters) – Mexico will inject $3.9 billion into ailing state oil company Pemex, officials said on Friday, promising…
Supermarket retailer Casino to sell six stores to rival Leclerc
FILE PHOTO: The logo of Casino shop is seen in Nice, France, January 15, 2019. REUTERS/Eric Gaillard/File Photo PARIS (Reuters)…
Italy works on extending Alitalia loan deadline: source
ROME (Reuters) – Italy is working on an extension of as much as six months to a Dec. 15 deadline…
Campbell, Third Point urge shareholders to vote for two different boards
(Reuters) – Campbell Soup Co (CPB.N) and hedge fund Third Point LLC on Friday filed preliminary proxy materials urging the…
Elliott demands fresh revamp at Hyundai Motor Group
SEOUL (Reuters) – U.S. activist hedge fund Elliott Management has renewed its pressure on Hyundai Motor Group with a fresh…
Exclusive: Mattress Firm explores U.S. bankruptcy to close stores – sources
(Reuters) – Mattress Firm Inc, the largest U.S. mattress retailer, is considering a potential bankruptcy filing as it seeks ways…
UK’s House of Fraser to close 31 stores, 6,000 jobs at stake
LONDON (Reuters) – British department store group House of Fraser said on Thursday it has proposed closing 31 stores in…
U.S. gunmaker Remington emerges from bankruptcy
(Reuters) – Remington Outdoor Co Inc FREDM.UL, one of the largest U.S. makers of firearms, has emerged from Chapter 11…
Exclusive: RBS lawyers ask ex-staffer to destroy documents, DOJ informed
LONDON (Reuters) – Lawyers for Royal Bank of Scotland (RBS.L) asked an ex-employee to destroy confidential documents, according to a…
A bid to save $300 million at HCR ManorCare, and disrupt U.S. healthcare
CHICAGO (Reuters) – Thomas DeRosa is making a $4 billion bet that he can build a national, low-cost healthcare network…
Bank of America’s loan to Remington tests its firearms pledge
WILMINGTON, Del./NEW YORK (Reuters) – Bank of America Corp is preparing to provide critical financing to Remington Outdoor Co, which…
Sberbank to own biggest single stake in Croatia’s Agrokor – report
ZAGREB (Reuters) – Russia’s Sberbank (SBER.MM) may get around 30 percent of Croatia’s indebted food group Agrokor following a debt…
U.S. gunmaker Remington files for bankruptcy
(Reuters) – Remington Outdoor Co Inc , one of the largest U.S. makers of firearms, filed for bankruptcy protection on…