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COMMODITIES-Crude, copper drop on EU worries, China data
Gold held steady, drawing support from the economic concerns. Spot gold edged up 0.2 percent to $1716.79 an ounce, after staging a monthly increase of 5.5 percent in October. US gold GCcv1 slipped 0.4 percent to $1718.70 an ounce.
Updated: 11/01/2011 12:02A
PRESS DIGEST - Financial Times - Nov 1
MF Global became the largest US casualty of the euro zone crisis on Monday as it filed for bankruptcy protection after making big bets on the European sovereign debt market. British ministers fear the number of public-sector job losses will now be much
Updated: 11/01/2011 12:02A
Local MF Global firms suspended: ASIC
MF Global Holdings has filed for bankruptcy protection in the US, after confidence in the firm was shattered by a string of losses from European public debt holdings, making it the first major US casualty of the European debt crisis.
Updated: 11/01/2011 12:01A
Judge nixes both Tribune reorg plans
US Bankruptcy Judge Kevin J. Carey rejected two competing plans for bringing Tribune Co. out of bankruptcy, a move that could trigger lawsuits over the company's disastrous buyout. The plans differed over whether creditors could sue
Updated: 11/01/2011 12:01A
European debt fears return
Global stocks fell sharply Monday on concerns about Italy's ability to tame its colossal debts and the news that a US brokerage firm filed for bankruptcy over its potential exposure to bad European government debt. The New York Federal Reserve
Updated: 11/01/2011 12:01A
Bankrupt Lehman Brothers Subpoenas Goldman Sachs for Documents
Ashish Gupta, a senior vice president of Lehman's real estate group, said in a 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 11:58P
Tribune Judge Rejects 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 11:58P
Eurozone crisis drives MF Global to file for bankruptcy
THE eurozone crisis claimed its highest-profile victim yesterday when the giant futures brokerage MF Global filed for bankruptcy in the US. The firm, which had assets of some $41bn (30bn), filed for Chapter 11 bankruptcy in New York,
Updated: 10/31/2011 11:58P
Beacon Power: Your New Obama "Green Energy" Bankruptcy
Bloomberg News relates Beacon Power CEO F. William Capp's sad requiem for his corporate dream: “The current economic and political climate, the financing terms mandated by DOE, and Beacon's recent delisting notice from Nasdaq have together severely
Updated: 10/31/2011 11:55P
Political suicide
Word of the possibly purloined funds came hours after MF Global was forced to filed for bankruptcy protection after its debt ratings had been downgraded to junk status on the discovery that the firm had $6.3 billion of European sovereign debt on its
Updated: 10/31/2011 11:52P
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