Hostess Brands Inc, the maker of the iconic Twinkies snack cake, will square off in a bankruptcy court on Monday against an agent of the U.S. Justice Department, who says the wind-down plan is too generous to management.
Finance/Venture
L'Oreal Buys Urban Decay to Beef Up Young, Prestige Offering
French cosmetics maker L'Oreal acquired U.S. make-up brand Urban Decay from private equity firm Castanea Partners as part of an effort to reach more upscale young consumers.
McGraw-Hill Sells Textbook Unit to Private Equity
The McGraw-Hill Companies Inc has found a buyer for its textbook business, a unit that once steadied its results against the ups and downs of financial markets faced by its Standard & Poor's rating agency.
HP Alleges Autonomy Wrongdoing, Takes $5 Billion Charge
Hewlett-Packard Co on Tuesday took a massive $5 billion charge, claiming a raft of improprieties, misrepresentation and disclosure failures at software firm Autonomy, which it acquired last October for $11.1 billion.
Credit Suisse Shuffles Top Executives as Merges Units
Credit Suisse said on Tuesday its private banking arm would swallow its smaller asset management unit to cut costs and announced a management shake-up that raises the profile of those jockeying to succeed its beleaguered chief executive.
Latest News
The first round of talks aimed at avoiding the "fiscal cliff" caused a temporary rise in equities on Friday.
Spain's Santander plans to invest in the country's so-called bad bank in a sign that healthy domestic lenders are willing to support the entity created to clean up the aftermath of a 2008 property crash.
Spain's bad bank is generating a lot of interest among foreign investors, an economy ministry source said, and the government will meet with five investment banks on Monday to start the search for private capital.
Investors should brace for volatility over the next few months as U.S. politicians are unlikely to agree on a budget deal by year end, though that could lead to some good buying opportunities, Charles "Chuck" Schwab, founder and chairman of his namesake firm, said on Wednesday.
General Motors will not sell its loss-making European unit Opel or "simply close up shop and leave" it, the U.S. carmaker's Chief Executive told more than 5,000 staff in Germany.
A standoff between Hostess Brands Inc. and thousands of its bakery workers was heading for a showdown Thursday as both sides declared they would not bend and were set to accept the demise of the historic maker of Twinkies and Wonder Bread.
China-focused private equity firm Fountainvest Partners, headed by ex-Temasek executive Frank Tang, has raised $1.35 billion in its second fund, the company said on Wednesday, defying tight fundraising conditions in Asia.
Stock markets retreated on Wednesday and a small bid for safety helped safe-haven U.S. Treasuries erase some losses as investors waited for progress in approving aid for Greece and in averting potential U.S. fiscal constraint in early 2013.
President Barack Obama's next choice to head the U.S. Federal Reserve could have his or her hands tied if Ben Bernanke and company continue to re-write the policymaking rule book at their current clip.
