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BAE and VT said their discussions about a possible bid for Babcock sprang from talks of a broader restructuring within naval shipbuilding.
The United States trade representive's office argued today that the tariffs had ignited an "unprecedented level of consolidation and restructuring" within the American steel industry.
"Our focus remains on change, and we continue to focus our efforts on restructuring within our Chapter 11 case," said Lindsey Williams, a Delphi spokesman.
For those that have been lucky enough to avoid or protect yourself from restructuring within the workforce, the process is entirely stressful and demoralising.
The markets are pricing in a debt restructuring within a year or so, despite vehement denials from Athens, Brussels and Frankfurt.
And chief executive Stephen Hester might complete the rest of financial restructuring within 18 months – after all, on the asset-shedding front, it's been hard to fault his speed.
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Morales had called for YPFB to be restructured within 60 days of his announcement on May 1 that the state would seize control of the oil and gas operations of foreign companies.
His plan is to sell some assets probably starting with MCI, WorldCom's long-distance phone business, and SkyTel, its paging unit and to refocus the company around UUNET, its Internet-backbone operation, which carries over half of America's Internet traffic.WorldCom plans to appoint a "chief restructuring officer" within three weeks, and to emerge from bankruptcy protection within a year.
For instance, Chapter 11 gives debtors the right to propose a restructuring plan within 120 days.
Dubai World, which last year stunned financial markets by asking creditors to postpone some of its debt payments, is expected to announce a $26bn£17.3bnbn) debt restructuring plan within days.
One of Mexico's largest wireless telephone companies, Grupo Iusacell, missed a $25 million payment on its $350 million 2006 bond and promised to come up with a debt restructuring plan within the 30-day grace period.
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