A Mississippi bankruptcy judge on Friday approved the sale of bankrupt car rental company Advantage Rent A Car to Canadian private equity firm Catalyst Capital Group.
Sectors
Bitcoin exceeds $1,000 mark after Zynga accepts virtual currency
The price of Bitcoin went over $1,000 on Mt. Gox again today after Zynga Inc said it would be accepting the virtual currency, Bloomberg reported.
Israeli court gives control of IDB Holding Corp to Argentina's Eduardo Elsztain
The $570 million debt settlement offer that will give control of Israel's IDB Holding Corp to Argentine businessman Eduardo Elsztain was approved by a court in Tel Aviv, Bloomberg reported.
Commerzbank sees opportunity to expand wealth management business following Credit Suisse's German bank exit
Commerzbank is anticipating opportunities to expand its wealth management business after Swiss Credit Suisse Group sold its private bank in Germany to Bethmann Bank last month.
Alitalia seeks €50M additional loan from Italian lenders UniCredit, Intesa Sanpaolo
Alitala, Italy's flag carrier, has written to Italian banks UniCredit and Intesa Sanpaolo asking to extend an existing loan agreement by €50 million. This comes on top of the €200 million in bank loans agreed on in October.
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2013 had been the best sales year for the auto industry as US consumers bought 15.5 million vehicles. Ford Motor Co., Honda Motor Co. and Chrysler Group posted single-digit percentage gains, while General Motors Co. and Toyota Motor Corp. sales declined.
The Permanent Court of Arbitration in The Hague, Netherlands has pushed back an arbitration claim hearing involving Chevron Corp. and Ecuador to February. Chevron was indicted for environmental damage done in Amazon by Texaco.
Financial information provider SNL Financial in a report said that the five largest lenders in US control 44.2% of the industry's assets. JPMorgan Chase & Co, Bank of America,Citigroup,Wells Fargo & Co, and US Bancorp have a total of $6.46 trillion in assets.
Philadelphia Inquirer owners George Norcross III and Lewis Katz, who are at odds over the management of the newspaper company, are pushing it back to the auction block a few years after emerging from a bankruptcy.
Boeing Co.'s machinists on Friday voted 51% against 49% in favor of accepting a crucial labor contract, which means Boeing will build its 777X jetliner and wings in Washington state.
China said it would give more support to the domestic solar power industry as the government seeks to revamp a sector that is plagued with overcapacity and lower prices, Reuters reported.
China may topple the US as the top trader of the world for the first time when it unveils the value of trade of its goods for 2013, The Brics Post reported.
Some investors say that Marc Bolland, the head of retailer Marks and Spencer will come under renewed investor pressure if the Christmas and New Year sales figures next week disappoints, a Financial Times report said.
Malaysian firm Cahya Mata Sarawak has agreed to work with various companies to build the first integrated phosphate facility Southeast Asia, the Daily Express reported.
