Early Monday morning, Sears announced it had filed for Chapter 11 bankruptcy -- which would allow it to reorganize and possibly reemerge from bankruptcy with some part of the business intact -- and received commitments for $300 million in debtor-in-possession financing to carry through the bankruptcy period while it restructures its debt and reorganizes its business.
Meanwhile GM said it would keep its four factories in Germany open as it restructures its European operations.Red eyes all roundThree airlines were fined $175,000 for holding travellers in the cabin overnight on a flight that was diverted to Rochester, Minnesota, in August because of bad weather.
The protesters are unimpressed by Thursday's announcement that Starbucks is to pay £10m in taxes over the next two years as it restructures its complex arrangements that have seen its UK operation pay no corporation tax in the past three years.
The company, which is based in Miamisburg, Ohio, and has 6,000 workers, will now operate under Chapter 11 bankruptcy protection while it restructures its balance sheet and seeks to slash its debt, which exceeds $3 billion.
Professor Pettis and most other experts say China will ensure strong long-term growth only if it restructures its economy from one based on exports and big building projects to one based more on consumer spending.
Taylor Bean, based in Florida, said it was cooperating with federal agencies "and expected to continue to service mortgage loans as it restructures its business in the wake of these events".
News Ltd. is preparing to announce job cuts of as many as 1,500 staff members as it restructures its work force of 8,000, according to a report Monday on The Conversation, an independent Web site run by a former editor of The Age, Andrew Jaspan.
What the White House proposed and Congress agreed to last December was for the federal government to make seasonal loans to help the city over periods of temporary cash shortage while it restructures its debt, with the goal of achieving a balanced budget in a 3-year period.
The electronic components specialist is down 8.3p or more than 4% to 181.4p - the biggest faller in the FTSE 250 - after it said first half operation profits would be slightly below last year, as it restructures its marketing and distribution specialist.
Mr. Notebaert also will have to deal with widespread skepticism on Wall Street about the pledges of Mr. Nacchio and Robin R. Szeliga, the company's chief financial officer, that Qwest will be able to generate enough cash to avoid filing a Chapter 11 bankruptcy petition while it restructures its debts.
Manpower recently took a charge as it restructures its U.K. operations.
