Philippine Airlines Inc. (PAL) is moving forward with an equity restructuring scheme that would allow the flag carrier to wipe out an old deficit and clear the way for the entry of an investor group. PAL Holdings said in a filing at the Philippine Stock Exchange that its subsidiary PAL had sought the approval of…
ON BOARD AIR FORCE ONE, Sept 6 (Reuters) – President Donald Trump backed a three-month increase in the U.S. debt ceiling to help clear the decks in Congress in September and focus on tax reform, White House legislative affairs director Marc Short told reporters on Wednesday. (Reporting by Roberta Rampton, writing by Jeff Mason; Editing…
In the world of New York sports radio, Craig Carton is known as the quick-witted, unpredictable, top-rated co-host of a morning drive-time show that bounces from football to family life to sports betting. Federal prosecutors say hes also a Ponzi schemer. Carton was arrested at his Manhattan home Wednesday and charged with ripping off investors,…
The mostly empty shelves of a Toys “R” Us flagship store in Times Square are seen after it closed permanently in Manhattan Thomson Reuters By Jessica DiNapoli NEW YORK (Reuters) – Toys”R”Us Inc has hired law firm Kirkland & Ellis LLP to help weigh restructuring options ranging from a bankruptcy filing to raising financing as…
A significant ruling that a couple have no legal standing to seek a court review of KBC Banks rejection of their personal insolvency arrangement aimed at ensuring they remain in their family home has implications for hundreds of similar cases. David Hall, of the Irish Mortgage Holders Organisation, said the Circuit Court decision on Wednesday…
Australian writer-director Jason Raftopoulos was overcome by the five-minute standing ovation that greeted his debut film West of Sunshine after its world premiere at the Venice Film Festival. “It was a completely overwhelming experience,” he said. “So much of filmmaking is conducted in a bubble you never truly know what you have until it’s shown.…
Gannett and USA TODAY headquarters in McLean, Va., Tuesday, May 12, 2015. [Via MerlinFTP Drop](Photo: David Cooper, USA TODAY) Gannett, owner of USA TODAY and 109 local news properties, will undergo a corporate restructuring that will result in the elimination of “less than 1%” of employees. Citing “difficult headwinds” related to print advertising as troublesome for…
By Jodi Xu Klein and Eliza Ronalds-Hannon September 6, 2017, 3:42 PM EDT Toys R Us Inc. has tapped lawyers at Kirkland & Ellis to help restructure its heavy debt load, said people familiar with the matter, the latest sign of trouble for a once-mighty retailer that has struggled to fend off Amazon.com Inc. and the…
Toys R Us will have its second quarter earnings call on Tuesday, September 26. Toys R Us owners Kohlberg Kravis Roberts, Bain Capital Partners and Vornado Realty Trust either declined to comment or did not immediately have a comment. Kirkland also did not immediately have a comment. The potential restructuring comes amid increased competition from…
By Mike DeBonis, Kelsey Snell and Elise Viebeck, President Trump confounded leaders from his own party on Wednesday by siding with Democrats on plans to fund the government and raise the debt ceiling, upending negotiations on a variety of crucial policy areas this fall and further damaging relationships with Republicans on Capitol…