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Greek budget draft sees deficit targets missed
European officials are scrambling to avert an abrupt Greek bankruptcy, which would wreck the balance sheets of European banks, jeopardise the future of the single currency and potentially plunge the world into a new global financial crisis.
Updated: 10/02/2011 03:10P
Greek government approves retrenchment plan
About 30000 state workers to lose jobs after being put on reserve as indebted country battles to stave off bankruptcy. The Greek cabinet has approved a measure to begin reducing the number of state workers, a contentious part of an austerity plan aimed
Updated: 10/02/2011 02:57P
Greece to unveil plan to sack workers
Greece was expected to unveil its plan today to begin laying off state workers, the most contentious part of a reform package demanded by the European Union (EU) and International Monetary Fund (IMF) to free up loans and stave off bankruptcy.
Updated: 10/02/2011 02:57P
Papa John's Franchisee Employees To Be Paid, Judge Says
The Denver Post reports, "A bankruptcy court judge in Maryland has approved an emergency motion by a Papa John's Pizza franchise to pay wages owed to about 1200 employees." "PJCOMN Acquisition, which owns 72 Papa John's Pizza restaurant in Colorado and
Updated: 10/02/2011 02:29P
Budget Airline Avianova Will File for Bankruptcy
Budget airline Avianova, which has been embroiled in a bitter shareholder dispute between its US and Russian partners, has stopped all flights and will file for bankruptcy. The venture, set up in 2009, descended into acrimony in June when a number of
Updated: 10/02/2011 02:00P
Lovelady Center director faced money problems
Spahn, whose nonprofit, faith-based women's rehabilitation program is the centerpiece of a proposed redevelopment of the former Carraway Hospital campus, also filed personal bankruptcy in 1989 and headed a business that failed in a 1997 bankruptcy that
Updated: 10/02/2011 01:09P
Stirling Concentrating Solar Thermal Power Files for Bankruptcy
The developer reportedly sought a loan guarantee for the scaled-down 663 MW project but had not yet received one. Tessera previously owned the Calico project and sold that in December. SES was also going to supply the technology for Tessera's 709 MW
Updated: 10/02/2011 01:00P
Kodak weighs options for sale
: Eastman Kodak, the unprofitable 131-year-old camera maker, is weighing options including a bankruptcy filing because of concerns raised by possible buyers of its patent portfolio, said three people. Some potential bidders for the patents are wary of
Updated: 10/02/2011 12:34P
Ice Storm
The bankruptcy of the entire nation, Haarde said, was "a very real danger." Urging calm, Haarde announced that Iceland's parliament was about to enact an emergency law that would give the government sweeping new powers to take over the troubled banks.
Updated: 10/02/2011 12:28P
Friendly Ice Cream Corp. reportedly on the ropes
Friendly's, the restaurant chain known for its ice cream, is considering a potential bankruptcy reorganization and sale, according to a published report. The Wall Street Journal reported Thursday on its website that
Updated: 10/02/2011 12:10P
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