Former Enron CEO Skilling to have prison term shortened

Wed May 8, 2013 2:25pm EDT May 8 (Reuters) - Jeffrey Skilling, the former Enron Corp chief executive, has reached an agreement with federal prosecutors that could result in his 24-year prison term over the energy company's spectacular collapse being...

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U.S.-backed maker of wheelchair-accessible vans shuts down

Wed May 8, 2013 3:48pm EDT * VPG received $50 mln in low-interest federal loans * Billionaire T. Boone Pickens was among investors * Made 6-passenger van that ran on compressed natural gas * Latest "green" car startup to run into trouble...

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UPDATE 3-Former Enron CEO Skilling in deal to cut prison term

Wed May 8, 2013 6:33pm EDT * Skilling, U.S. to recommend 14 to 17-1/2 year term * Prison term can be shortened for good behavior * Skilling has been serving 24-year term (Adds background on Enron collapse, trial details) By...

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Spain's Realia to convert loans into shares to restructure debt

MADRID | Wed May 8, 2013 2:45am EDT MADRID May 8 (Reuters) - Spanish property firm Realia said on Wednesday it had agreed to convert a 115 million euro ($150 million) loan into shares as part of a plan to restructure debt and avoid insolvency proceedings.Following...

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CORRECTED-Spain's Realia to convert loans into shares to restructure debt

Wed May 8, 2013 3:10am EDT MADRID May 8 (Reuters) - Spanish property firm Realia said on Wednesday it had agreed to convert a 115 million euro ($150 million) loan into shares as part of a plan to restructure debt and avoid insolvency proceedings.Following...

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UPDATE 1-Spain's Realia takes steps on debt restructuring

Wed May 8, 2013 4:44am EDT * Agrees to convert a 115 million euro loan into shares * Deal gives bad bank Sareb an 8.9 percent stake * Firm must restructure $1 billion of debt by end-May * Shares surge 41 percent (Adds price, Q1 results...

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UPDATE 1-Ally Financial unit ResCap's CEO resigns

Mon May 6, 2013 10:06am EDT * Marano headed mortgage department at Bear Stearns * Marano has previously worked for Cerberus Capital * ResCap filed for bankruptcy in May 2012 May 6 (Reuters) - Residential Capital LLC Chief Executive Thomas...

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Boutique investment bank Ledgemont seeks Chapter 7 bankruptcy

Mon May 6, 2013 11:50am EDT May 6 (Reuters) - Ledgemont Capital Group LLC, a boutique investment bank, filed for Chapter 7 bankruptcy to liquidate its assets, which it estimated at between $10 million and $50 million, according to court documents....

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Brazil wants shareholders to pay for rescue of troubled banks

Mon May 6, 2013 1:59pm EDT * Central bank finishing details of new banking legislation * Bill aims to avoid massive bailouts of United States and Europe By Alonso Soto BRASILIA, May 6 (Reuters) - The Brazilian government, concerned about...

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RPT-UPDATE 2-Illinois House passes sweeping pension fix in close vote

Fri May 3, 2013 12:28pm EDT By JoAnne von Alroth SPRINGFIELD, Ill., May 2, (Reuters) - The Illinois House of Representatives in a 62 to 51 vote on Thursday passed a comprehensive bill aimed at addressing the nation's most under funded state...

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Scottish Coal liquidators say in talks over parts of business

LONDON | Fri May 3, 2013 12:33pm EDT LONDON May 3 (Reuters) - Liquidators for Scottish Coal, KPMG, said on Friday they were in talks regarding the possible sale of parts of the business. The company ran out of cash last month, putting 600 jobs...

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Mine workers union warns of strike at Patriot Coal if contract voided

By tim bross ST. LOUIS | Fri May 3, 2013 5:51pm EDT ST. LOUIS May 3 (Reuters) - A lawyer for the United Mine Workers of America on Friday told a bankruptcy judge it would be forced to strike if Patriot Coal Corp succeeds in voiding its contract...

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RPT-UPDATE 2-Illinois House passes sweeping pension fix in close vote

Fri May 3, 2013 12:28pm EDT By JoAnne von Alroth SPRINGFIELD, Ill., May 2, (Reuters) - The Illinois House of Representatives in a 62 to 51 vote on Thursday passed a comprehensive bill aimed at addressing the nation's most under funded state...

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Scottish Coal liquidators say in talks over parts of business

LONDON | Fri May 3, 2013 12:33pm EDT LONDON May 3 (Reuters) - Liquidators for Scottish Coal, KPMG, said on Friday they were in talks regarding the possible sale of parts of the business. The company ran out of cash last month, putting 600 jobs...

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Mine workers union warns of strike at Patriot Coal if contract voided

By tim bross ST. LOUIS | Fri May 3, 2013 5:51pm EDT ST. LOUIS May 3 (Reuters) - A lawyer for the United Mine Workers of America on Friday told a bankruptcy judge it would be forced to strike if Patriot Coal Corp succeeds in voiding its contract...

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RPT-UPDATE 2-Illinois House passes sweeping pension fix in close vote

Fri May 3, 2013 12:28pm EDT By JoAnne von Alroth SPRINGFIELD, Ill., May 2, (Reuters) - The Illinois House of Representatives in a 62 to 51 vote on Thursday passed a comprehensive bill aimed at addressing the nation's most under funded state...

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Scottish Coal liquidators say in talks over parts of business

LONDON | Fri May 3, 2013 12:33pm EDT LONDON May 3 (Reuters) - Liquidators for Scottish Coal, KPMG, said on Friday they were in talks regarding the possible sale of parts of the business. The company ran out of cash last month, putting 600 jobs...

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Mine workers union warns of strike at Patriot Coal if contract voided

By tim bross ST. LOUIS | Fri May 3, 2013 5:51pm EDT ST. LOUIS May 3 (Reuters) - A lawyer for the United Mine Workers of America on Friday told a bankruptcy judge it would be forced to strike if Patriot Coal Corp succeeds in voiding its contract...

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UPDATE 2-Illinois House passes sweeping pension fix in close vote

Thu May 2, 2013 7:15pm EDT By JoAnne von Alroth SPRINGFIELD, Ill., May 2, (Reuters) - The Illinois House of Representatives in a 62 to 51 vote on Thursday passed a comprehensive bill aimed at addressing the nation's most under funded state...

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Residents of bankrupt California city launch council recall

Thu May 2, 2013 7:33pm EDT * Council member says move "ill-advised" * Court ruling on bankruptcy several months off By Tim Reid LOS ANGELES, May 2 (Reuters) - Up in arms against the leadership it blames for San Bernardino's bankruptcy,...

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PHILIPPINES PRESS-Shareholders move to stop Exportbank's liquidation - Inquirer

Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information...

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Australian tycoon Tinkler faces legal action for insolvent trading

MELBOURNE | Thu May 2, 2013 3:24am EDT MELBOURNE May 2 (Reuters) - Liquidators of one of Australian coal magnate Nathan Tinkler's private companies have launched a legal action against the struggling tycoon and fellow directors for insolvent trading,...

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Austria's RHI settles last U.S. asbestos claims

VIENNA | Thu May 2, 2013 3:36am EDT VIENNA May 2 (Reuters) - Austrian fireproof materials maker RHI said it had settled the last of the asbestos claims it was facing in the United States 11 years after deconsolidating its U.S. business.RHI said late...

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UPDATE 1-Australian tycoon Tinkler faces legal action for insolvent trading

Thu May 2, 2013 4:10am EDT * Tinkler denies allegations of insolvent trading * Blackwood seeks to recover A$28 million * Whitehaven shares hit four-year low (Adds Mulsanne directors' comment,) MELBOURNE, May 2 (Reuters) - Liquidators...

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Liquidators cleared to sue Australian mining tycoon Tinkler

MELBOURNE | Tue Apr 30, 2013 10:39pm EDT MELBOURNE May 1 (Reuters) - Liquidators of Nathan Tinkler's Mulsanne Resources were given the go-ahead by the court to sue the struggling Australian tycoon for allegedly letting Mulsanne trade while insolvent,...

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UPDATE 1-Kodak expects to exit bankruptcy as soon as July

Tue Apr 30, 2013 11:20pm EDT By Tom Hals April 30 (Reuters) - Eastman Kodak Co said on Tuesday it expects to emerge from bankruptcy as soon as July as a commercial imaging business under the control of its creditors. It said in court documents...

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U.S. electric car maker Coda files for bankruptcy

By Nichola Groom Wed May 1, 2013 3:16am EDT May 1 - U.S. green car startup Coda Holdings Inc filed for Chapter 11 bankruptcy protection on Wednesday after selling just 100 of its all-electric sedans, another example of battery-powered vehicles'...

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