Hostess Brands Inc, the bankrupt maker of Twinkies snack cakes and loaves of Wonder Bread, is seeking a U.S. court's permission to go out of business after failing to get wage and benefit cuts from thousands of its striking bakery workers.
Industry
Wall Street Slips After Weak Factory Data
Stocks fell on Monday, with the S&P 500 and Nasdaq erasing early gains as disappointing U.S. factory numbers curbed optimism spurred by positive data on China's economy.
Mitsubishi Heavy, Hitachi Bring Together Thermal Power Biz
Japanese conglomerates Mitsubishi Heavy Industries and Hitachi Ltd have decided to merge their thermal power businesses to take a vantage position in the domestic fossil-fuel power business.
ConocoPhilips Plans Kashagan Stake Sale, Partners to Review Refusal Right
Even as ConocoPhilips clears the deck for sale of its 8.4 percent stake in Kazakhstan oil field Kashagan to India's oil & gas major ONGC Videsh for a total consideration of about $5 billion, some of ConocoPhillips' partners in the oilfield project could still exercise their right of first refusal on the stake.
Inventories Boost U.S. Economic Growth But Trend Weak
The U.S. economy grew faster than initially thought in the third quarter as restocking by businesses provided a big boost, but consumer and business spending were revised lower in a sobering reminder of the recovery's underlying weakness.
Latest News
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.
California, long the national leader in clean energy policy, is poised to double down on its investments in the sector, with billions in new subsidies set to flow in over the next few years.
World stocks rose on Tuesday after U.S. markets turned higher, fueled by strong results from home improvement retailer Home Depot, while the euro rose from a more than two-month low against the dollar.
The budget deficit rose in October, the first month of fiscal year 2013, as looming negotiations over expiring tax cuts and imminent spending reductions dominated the post-election political landscape.
Banking group HSBC has settled a case brought by a fund over losses it suffered during the collapse of fraudster Bernie Madoff's financial empire, potentially paving the way for more claims against fund custodians.
Ally Financial Inc is nearing a deal to sell its auto financing operations in Europe and Latin America for around $4 billion, with General Motors Co emerging.
Wall Street's post-election sell-off may gather steam in the coming weeks as worries mount about the looming "fiscal cliff" and technical weakness suggests a possible correction ahead.
Bain Capital LLC, the private equity firm co-founded by defeated presidential candidate Mitt Romney, thanked its investors on Thursday for their support and patience over the last year as it confronted "political hyperbole and distortion."
HSBC, Europe's biggest bank, is at the center of an investigation by British tax authorities into leaked data that a newspaper said showed it provided accounts in the tax haven of Jersey for alleged criminals.
