Officials of Jefferson County in Alabama said it had arrived at a new agreement with its Wall Street creditors that would pave the way for its exit from its USD 4.2 billion bankruptcy.
United States
SEC ex-chief says dual share law has additional safeguard measures
In order to protect shareholder's interests, U.S. allows companies to have dual share structures but with additional safeguard measures as the Securities and Futures Commission last month declined to provide a waiver to Alibaba to nominate a majority of directors from its 28 partners.
Loeb: USD 1 billion stake in SoftBank Corp; Einhorn warns of "bubble-like" conditions
Third Point's Daniel Loeb said he held more than USD 1 billion stake in Softbank Corp while Greenlight Capital's David Einhorn warned of "bubble-like" conditions in some stocks in the Robin Hood Investors Conference.
$800M settlement over Madoff Funds falls apart
A USD800 million settlement between feeder fund Kingate Management and bankruptcy trustee Irving Picard has collapsed. The Justice Department ruled out feeder funds from payouts out of the USD2.35 billion Madoff Victim Fund.
Federal judge approves Jefferson County plan to end bankruptcy
Judge Thomas Bennett of the US Bankruptcy Court in Birmingham, Alabama approved Jefferson County's debt restructuring plan to exit bankruptcy after a 14-hour hearing on Thursday, November 21.
Latest News
Independent Bank Group, Inc., the holding company for Independent Bank, today announced that Independent Bank Group has entered into a definitive agreement to acquire BOH Holdings, Inc. and its subsidiary, Bank of Houston, Houston, Texas.
Online music-streaming service Spotify has raised $250 million in a new funding round, making it one of the world's most richly capitalized start-ups.
Harvard University has resorted to suing Chime Master Systems over a dispute over a cracked church bell a few months after the installation of a new clapper unit.
Hotel operator Hilton Worldwide Inc, owned by private equity firm Blackstone Group LP, will increase the size of its initial public offering to about $2.25 billion, according to a source familiar with the matter.
Blackstone Group LP said Thursday it had hired David Calhoun, chief executive of television ratings company Nielsen Holdings NV, to work with the bosses of the private equity firm's companies in order to deliver more value.
New York-based all-digital media firm Ziff Davis, the publishing arm of Hollywood-based internet services company J2 Global Inc, bought consumer electronics deal aggregating site TechBargains.com for an undisclosed amount.
China's iKang Goubin Healthcare is looking to launch an initial public offering, possibly in NASDAQ, next year. Before the proposed exit, iKang secured a USD100 million joint investment by Goldman Sachs & Co. and sovereign wealth fund Government of Singapore Investment Corporation.
A letter to clients showed the hedge fund plans to reduce management fees and offer a new share class that would enable investors to get their money earlier.
Branded mobile content company TextPride secured USD1 million in seed funding which will be used to launch the company's mobile stickers and emojis to mobile messaging apps.
