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Major US broker MF Global files for bankruptcy
The company is the first major casualty of the European debt crisis and the eighth biggest bankruptcy in the US in the past 30 years. The brokerage, which has 2000 staff worldwide, including 600 in London, is said to be planning to sell its assets to
Updated: 10/31/2011 09:09P
MF Global files for Chapter 11 creditor protection
New York-based MF Global Holdings Ltd and its finance subsidiary, MF Global Finance USA Inc, yesterday announced filing for creditor protection under Chapter 11 of the US Bankruptcy Code. Directors of both entities authorized the filing to protect
Updated: 10/31/2011 09:09P
Second green flop stokes controversy
Republicans are hoping to show that politics played a role in the approval of the loan guarantee and the decision to restructure the financing agreement in February. The White House strongly denies those allegations. The Republican investigation has
Updated: 10/31/2011 09:08P
Judge rejects both Tribune bankruptcy plans
That came a year after real-estate tycoon Sam Zell took the company private. Tribune has issued the following statement: "We are reviewing the judge's decision and will have no comment until we have finished studying it." Carey began his 126-page
Updated: 10/31/2011 09:08P
This Hedge Fund Really Bet Wrong on MF Global
Hedge-fund Cadian Capital Management was one of MF Global's biggest stockholders, even as it sold millions of shares in the last week as the company was on the path to a bankruptcy filing. According to an SEC filing just released, Cadian Capital funds
Updated: 10/31/2011 09:06P
Have American taxpayers just been saddled with another Solyndra?
Beacon Power Corp., a tiny renewable energy company that was a recipient of a $43 million loan guarantee backed by the Department of Energy, declared bankruptcy on Sunday, leaving taxpayers to cover the $39.1 million in loans the company has not yet
Updated: 10/31/2011 09:06P
Tribune Judge Denies JPMorgan, Aurelius Reorganization Plans
The Chicago- based company filed for bankruptcy one year after the buyout led by real-estate billionaire Sam Zell. While in bankruptcy, Tribune sold its stake in the Chicago Cubs baseball team. Tribune owns eight newspapers, including the Los Angeles
Updated: 10/31/2011 09:03P
Lehman Sells Stake in 10 Virginia Buildings to Goldman Sachs
Ashish Gupta, a senior vice president of Lehman's real estate group, said in the statement that the company made a “strategic capital infusion” in the portfolio last year. That investment “vastly improved the liquidity of our ownership interest,
Updated: 10/31/2011 08:57P
MF Global Bankruptcy Rattles Wall St. Firms
With MF Global filing for bankruptcy on Monday, investors pummeled many financial stocks, fearful that problems were lurking on the books of other Wall Street firms. It was a crisis of confidence, not unlike in 2008 when the markets
Updated: 10/31/2011 08:56P
News briefs
Start times are 8:45 am for the 5K and 10K runs, 9 am for the 5K Fitness Walk, and 10:20 am for the children's Drumstick Dash. “The Turkey Trot is a true community event,” says Jan Hincapie, Lincolnwood's Director of Parks and Recreation.
Updated: 10/31/2011 08:52P
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