Judge slows Caesars’ bankruptcy plan, warns of looming legal war
CHICAGO (Reuters) – A U.S. bankruptcy judge on Tuesday pushed back a decision until later this month on whether to allow the operating unit of Caesars Entertainment Corp to move forward with a restructuring plan vigorously opposed by some creditors.
Valeant CEO cuts outlook for ‘distracted’ company, shares plunge
Reuters) – Valeant Pharmaceuticals International Inc slashed its 2016 forecasts on Tuesday, as its new chief executive said he would focus on rebuilding the reputation of a “distracted organization” with a debt-loaded balance sheet.
Ford, Fiat Chrysler pivot to more SUVs, fewer small cars
DETROIT (Reuters) – Ford Motor Co and Fiat Chrysler Automobiles are cutting production of smaller cars and idling workers at some North American factories, while boosting output of sport utility vehicles in reaction to a long-term shift toward large…
Buffett praises Amazon’s Jeff Bezos, offers optimism for America
NEW YORK (Reuters) – Warren Buffett, the world’s third-richest person, on Tuesday offered strong praise for Jeff Bezos, the fourth-richest, saying he embodies the potential that can blossom when small business owners build their companies.
Oil hits 2016 high on U.S. draw forecasts, Nigeria woes
NEW YORK (Reuters) – Oil prices jumped more than 1 percent on Tuesday, hitting 2016 highs, with U.S. crude settling above $50 a barrel the first time in almost a year, on expectations of domestic stockpile draws and worries about global supply shortfal…
Target charges suppliers more to help offload unsold inventory
CHICAGO (Reuters) – U.S retailer Target Corp is asking many suppliers to take on up to an extra 3-5 percent of the cost of promotions and price cuts after slow sales so far this year.
Judge says needs time to rule on date of Sumner Redstone competence trial
CANTON, Mass. (Reuters) – The battle over control of Sumner Redstone’s $40 billion media empire moved to a Massachusetts courtroom on Tuesday, where a state judge said he needed time to decide whether to move up the date of a trial questioning the 93-year-old’s mental competence.
Exclusive: F5 Networks hires Goldman to field takeover interest – sources
(Reuters) – F5 Networks Inc , a U.S. computer networking company whose technology helps speed up data center traffic, has hired investment bank Goldman Sachs Group Inc following takeover approaches, people familiar with the matter said.
U.S. warns banks on cyber threat after Bangladesh heist
BOSTON/NEW YORK (Reuters) – U.S. regulators on Tuesday told banks to review cyber-security protections against fraudulent money transfers in the wake of revelations that a hacking group used such messages to steal $81 million from the Bangladesh centra…
Akamai, Nortek forfeit profits to avoid charges for bribes in China: SEC
(Reuters) – Akamai Technologies Inc and Nortek Inc have agreed to pay U.S. regulators profits made as a result of bribes the U.S. companies’ units paid to Chinese officials, in exchange for avoiding prosecution, the SEC said on Tuesday.
