Headlines

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Format: 09-30-2014
August 27, 2014
U.S. regulators will take long-awaited steps to give investors more information about the quality of mortgages and other loans underpinning certain securities, The Wall Street Journal reported yesterday. The Securities and Exchange Commission is expected to complete rules on Wednesday that would...
August 27, 2014
The auctioneers hired by the estate for Truland Group, the Reston, Va.-based electrical contractor that filed for bankruptcy last month, have begun selling off the company’s 300 trucks, trailers and vans in an effort to recover money for creditors, The Washington Post reported yesterday. Auction...
August 27, 2014
Vallejo, Calif., is a short distance but a far cry from the touristy Napa Valley vineyards and quaint towns, so when Sunday's earthquake struck, the damage to the wine industry took center stage and the rubble in Vallejo received scant attention, Star Tribune reported today. But the bayside city...
August 27, 2014
Struggling cupcake maker Crumbs Bake Shop Inc. has won an approval from court to reopen stores next month, RTTNews.com reported yesterday. Hon. Michael Kaplan signed off on the sale to Marcus Lemonis and Dippin' Dots owner Fischer Enterprises, which is taking over Crumbs in exchange for the...
August 26, 2014
A U.S. bankruptcy judge on Monday approved Detroit's proposal to repurchase nearly $1.5 billion of existing water and sewer revenue bonds tendered by investors and to refinance the debt to save money, Reuters reported yesterday. The ruling by Hon. Steven Rhodes clears the way for the sale of about...
August 26, 2014
Former Republican vice presidential candidate Paul Ryan says that Detroit’s chapter 9 bankruptcy is a warning to the U.S. and compares the Motor City to the NBC post-apocalyptic drama “Revolution,” The Detroit News reported yesterday. In a new memoir, the Wisconsin Republican who chairs the House...
August 26, 2014
A group of hedge funds are seeking a 226 million euro interest payment on Argentine bonds from Bank of New York Mellon that was blocked by a U.S. judge last month, The New York Times reported yesterday. In a lawsuit filed in London against Bank of New York, the hedge funds contend that the bank’s...
August 26, 2014
Municipal bonds will be excluded from the group of easily sellable assets that banks can use to show they’re able to survive a credit crunch, Bloomberg reported today. Regulators, including the Federal Reserve, are set to approve a final liquidity rule on Sept. 3. The most recent draft bars debt...
August 26, 2014
A judge on Monday delayed a ruling on whether to confirm a plan by Momentive Performance Materials, a quartz and silicone maker owned by Apollo Global Management, to cut $3 billion in debt and exit bankruptcy, Reuters reported yesterday. Hon. Robert Drain, who had been expected to read his ruling...
August 26, 2014
India’s antitrust regulator fined 14 carmakers, including the local units of Honda Motor Co. and General Motors Co., a combined 25.4 billion rupees (US$420 million) for stifling competition in the market for spare parts as the industry faces similar scrutiny in China, Bloomberg reported today. The...
August 26, 2014
General Motors Co. ignition switch compensation fund has received 284 claims through Friday, including 100 claims for deaths, The Detroit News reported yesterday. The fund began accepting applications for funding on Aug. 1. Camille S. Biros, deputy administrator of the fund, said it has received...
August 26, 2014
Moody's said that it will not downgrade Kentucky's credit rating despite a recent federal bankruptcy decision that could cost the state nearly $1 billion over 20 years, The Associated Press reported today. The credit-rating agency said that Kentucky has enough resources to manage the added expenses...