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Economics News

Economics News continually updated from thousands of sources around the net.

11 min ago | Detroit Free Press

Miller Buckfire to collect $28 million for Detroit bankruptcy work

New York-based investment bank Miller Buckfire is expected to collect a fee of $28 million if the city of Detroit is able to restructure its debt in bankruptcy, according to an internal city document obtained by the Free Press.

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Related Topix: Bankruptcy, Detroit, MI

4 hrs ago | Myrtle Beach Online

Cupcake chain Crumbs in talks, could rise again

The New York company said it is in talks with "various interested parties" and could restructure its business days after closing its stores.

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Related Topix: Bankruptcy, Business News

8 hrs ago | JD Journal

Clawback Lawsuit Against Former Dewey Leaders Could be Stayed

Liquidating trustee of Dewey & LeBoeuf , Alan Jacobs, is arguing that his clawback lawsuit against two former law firm heads should not be stayed as they face criminal charges, according to The New York Law Journal.

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Related Topix: Bankruptcy

12 hrs ago | Lancaster and MoreCambe Citizen

More young women becoming insolvent

Young women are more likely to find themselves falling into personal insolvency than men of the same age, official statistics show.

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Related Topix: Bankruptcy

17 hrs ago | The New Zealand Herald

Slingshot to accept Bitcoins

Technology-savvy Kiwis can now pay their Slingshot broadband bills with Bitcoins after the internet service provider said it would begin accepting the digital currency as a form of payment.

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Related Topix: Internet Service Providers, Bitcoin

21 hrs ago | Reuters

Accused Silk Road creator loses bid to dismiss U.S. indictment

The man accused of creating Silk Road, which U.S. authorities said was an online drug marketplace, lost his bid on Wednesday to dismiss a federal indictment accusing him of conspiring to deal illegal narcotics and launder money.

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Related Topix: Drugs, Criminal Defense Law, Law, Bitcoin

Wed Jul 09, 2014

Wall Street Journal

Bitcoin Foundation Hires Lobbying Firm

Backers of the virtual currency bitcoin are beefing up their Washington presence as they seek to shape government oversight of the fledgling payment system.

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Related Topix: Bitcoin

NewsOK.com

Genco exits Chapter 11 bankruptcy protection

The company says it reduced its debt by $1.2 billion while eliminating $192.8 million in amortization payments and $40 million in annual interest payments.

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Related Topix: Bankruptcy

Ledger-Enquirer.com

Memphis 'Blue Flu' symbol of pension troubles

Cuts approved by the City Council have led to protests from city workers, including police and fire staff, who say they cannot afford the changes and feel betrayed by a city they have served and protected.

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Related Topix: Pension, Personal Finance, Fire, Bankruptcy, US Politics, US News, US House of Representatives, Democrat, Rahm Emanuel, Illinois

Canon City Daily Record Newspaper

Report: Detroit art valued at more than $4.6B

Treasures in the Detroit Institute of Arts eyed for sale by some creditors in the city's historic bankruptcy could be worth more than $4.6 billion, but likely would fetch a quarter of that or less in a forced liquidation, according to a new report.

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Related Topix: Bankruptcy, Opinion

The Modesto Bee

Brennan's to reopen after bankruptcy sale

A bankruptcy judge overseeing the liquidation of Brennan's Inc. on Wednesday approved the sale of the former restaurant's trade name and other assets - including recipes - to an investment group that includes prominent New Orleans restaurateur Ralph Brennan.

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Related Topix: Bankruptcy, Restaurant Management, Business News

Examiner.com

'My Five Wives': Brady Williams reveals bankruptcy

Brady Williams, who is the star of "My Five Wives," has filed for bankruptcy and claims he is broke.

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Related Topix: Bankruptcy, Credit Card Debt, Personal Finance

Carlsbad Current-Argus

Greece to test bond market again with new issue

Greece says it will issue a three-year bond following its successful bid to tap debt markets in April after a four-year absence.

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Related Topix: Bankruptcy

Business Journal

Ailing TLC Health to receive $6.6M in state funds

Bolstered by a $6.6 million state grant, TLC Health System hopes to keep its Irving hospital open until at least next spring.

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Related Topix: Irving, NY, Bankruptcy, Long Term Care, Health, Chautauqua County, NY

Reuters

France's Valls urges end to strike at 'sinking' ferry group SNCM

Workers at France-Corsica ferry operator SNCM must end their strike and let the troubled company undergo a restructuring to secure its future, Prime Minister Manuel Valls said on Tuesday.

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Related Topix: Bankruptcy

Tue Jul 08, 2014

Reuters

Stockton bankruptcy judge says city's collateral not worthless

The judge in Stockton, California's bankruptcy on Tuesday ruled that the city has collateral worth $4 million with which it could pay holdout creditor Franklin Templeton, dismissing the city's contention its collateral was worthless.

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Related Topix: Bankruptcy, Stockton, CA, Personal Finance, Retirement, Pension

ComputerWorld

Mt. Gox CEO selling Bitcoins.com, will give some proceeds to burned investors

Mt. Gox CEO Mark Karpeles bows in ritual apology on Japanese TV while at a press conference on Feb. 28, when the bitcoin exchange filed for bankruptcy protection at the Tokyo District Court.

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Related Topix: Bitcoin, Bankruptcy

Detroit Free Press

EM Kevyn Orr gives Detroit officials, appointees 5% pay raise

Detroit emergency manager Kevynn Orr takes questions from reporters after a speech he gave on May 30, 2014.

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Related Topix: Detroit, MI, Bankruptcy

WFAA-TV Dallas

After Detroit, another city ponders bankruptcy

As Detroit works to emerge from bankruptcy following a court-supervised overhaul, another Michigan city with strong auto industry bonds could be on the brink of beginning the same process, the latest sign that the spate of municipal defaults may not have ended.

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Related Topix: Bankruptcy, Automakers, General Motors, Rick Snyder, US Governors, Mammoth Lakes, CA

Wall Street Journal

Bitcoin Startup Xapo Valued North of $100 Million

Some of the biggest names in venture capital are getting behind a maker of underground bitcoin vaults, the latest bet to bolster the digital currency.

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Related Topix: Bitcoin, Startup, WA, Startups, Yahoo!

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