Nepal To Delay Elections Nepal’s constituent assembly elections will be delayed after the the ruling coalition failed to break a political deadlock, a government minister said.... Read Full Article Kibbutz Yasur Journal: The Kibbutz Sheds Socialism And Gains Popularity Israel’s kibbutzim are once again thriving, attracting new members with a mellower version of collective living.... Read Full Article Nissan Is Offering Buyouts At 2 Tennessee Factories As stagnant sales end a streak of record profits, the company said it expected about 300 workers to take buyouts.... Read Full Article Christina Aguilera Christina Aguilera is like a bizarre chameleon.... Read Full Article Court To Review Damages In Exxon Valdez Case The Supreme Court agreed to decide whether Exxon Mobil should pay $2.5 billion in punitive damages in connection with the 1989 Exxon Valdez oil spill.... Read Full Article |
Bankrupt NewsUS telecoms firm, Global Crossing, considering plans to sell UK armGlobal Crossing, the US telecoms carrier that went into Chapter 11 bankruptcy protection after running up debts of £6 billion on an acquisition spree, is considering plans to sell off or merge its European arm with a competitor.Read Full Article West Coast dream crashes as Californian city Vallejo considers going bankruptVallejo, California, is notable for many things. It was the state capital, for example, if only briefly, in 1851. It is the home of Boomerang, Kong, ROAR! and V2: Vertical Velocity, evocatively named rollercoasters at the sprawling Six Flags Discovery Kingdom theme park. And, as of this week, it is seeking to declare itself bankrupt.Read Full Article Sounds like the SeventiesPetrol prices are soaring, food prices are going through the roof, teachers are striking and recession is an ever-present threat. It is as if the clock has turned back 30 years to the 1970s - a decade when the UK economy teetered on the brink of bankruptcy, shortages loomed and David Bowie topped the charts.Read Full Article British Airways counts cost of T5 fiasco as passenger numbers fallThe chaotic opening of Heathrow’s Terminal 5 last month led to British Airways’ worst April since the start of the Iraq war. Yesterday the airline said that passenger numbers had fallen by 7.9 per cent, or 221,000 people, to 2.5 million after the problematic opening of the £4.3 billion terminal. The British flag carrier was forced to cancel more than 430 flights and lost about 20,000 pieces of luggage as it moved into its new home at T5. The negative publicity and cancelled flights are thought to have contributed substantially to the fall in passenger numbers during the month. This particularly affected BA’s UK and European operations, which were the first to move into T5. Short-haul passenger numbers fell 8.5 per cent last month and BA’s aircraft were operating at only 70 per cent of capacity. Worldwide, the carrier’s aircraft were 71.6 per cent full during the month, the lowest April load factor since the Iraq war began in March 2003. Load factors are seasonal and typically in April traffic rises before the summer. The decline in passenger numbers last month was worst in the economy cabins, with an8.8 per cent fall compared with last year. Premium passenger numbers rebounded by 3.4 per cent after a 5 per cent fall in the previous month. Of particular concern to BA will be the sudden drop in transatlantic travel, which is where the carrier makes the bulk of its money. Passenger numbers to and from the Americas fell 7.9 per cent and the load factor fell to 72.2 per cent, from 78.5 per cent in the same month last year. Nick van den Brul, aviation analyst for Exane BNP Paribas, said: “T5 has clearly been a big problem and it will have an impact on profits. April is usually a good month, when things start to pick up after the winter, but this has not happened.” Analysts are concerned that BA’s passenger numbers are falling just as costs rise and the economy slows. Oil prices have hit record levels and this has caused a number of airlines to go into bankruptcy. BA put up its fuel surcharge last week to cover these increased costs, but it risks losing passengers, particularly as the economies of Britain and the United States slow. Doug McVitie, managing director of Arran Aerospace, an aviation consult-ancy, said: “The combination of higher fares, higher costs and falling passenger numbers is very bad news and the more bad news there is, the more people will be put off the airline.” BA’s share price fell 9¾p to 239p yesterday and is trading at less than half the level of a year ago. The company said: “Market conditions are broadly unchanged with long-haul, nonpremium traffic showing significant weakness. In April some impact was felt, particularly on transfer traffic, from the move to T5 and the operational problems in the early part of the month.” Ryanair, the low-cost carrier, has also suffered from weaker demand as a result of tighter household budgets. Its traffic figures for April show that it is not increasing passenger numbers by enough to cope with the capacity it is adding. Passenger numbers rose by 15 per cent to 4.7 million, compared with the same month last year, but load factors dropped to 79 per cent from 83 per cent. Further indications of weakness in the airline sector is expected today when easyJet, another budget airline, reports its first-half figures. Analysts expect a loss of about £50 million compared with a £17 million loss in the same half last year.Read Full Article Credit squeeze pushes more firms into bankruptcyThe number of large companies going into administration in the first three months of this year rose by more than a fifth and the total number seeking bankruptcy jumped 25%, official figures revealed today.Read Full Article External News for: bankruptBankrupt General Growth faces problem of plenty - ReutersReutersBankrupt General Growth faces problem of plentyReutersThe second-largest US mall owner is working on a plan to exit bankruptcy backed by some of its largest investors while trying to thwart a rival $10 billion ...Glenn J. Rufrano Steps Down from General Growth Properties Board of Directors ...MarketWatch (press release)General Growth Properties (GGP) Is Back In FavorBenzingaGeneral Growth to Submit New Proposal, Lawyer SaysBusinessWeekWaterbury Republican American -Forbes -Wall Street Journalall 323 news articles »Bankrupt General Growth faces problem of plenty - ReutersReutersBankrupt General Growth faces problem of plentyReutersThe second-largest US mall owner is working on a plan to exit bankruptcy backed by some of its largest investors while trying to thwart a rival $10 billion ...Glenn J. Rufrano Steps Down from General Growth Properties Board of Directors ...MarketWatch (press release)General Growth Properties (GGP) Is Back In FavorBenzingaGeneral Growth to Submit New Proposal, Lawyer SaysBusinessWeekWaterbury Republican American -Forbes -Wall Street Journalall 323 news articles »Dodd financial reform bill goes too far - Christian Science MonitorGlobe and MailDodd financial reform bill goes too farChristian Science MonitorNotice that this is different from the Lehman Brothers situation, where there was no question the bank was going bankrupt once the expected merger with ...Lehman's Accounting Should Be Probed by Justice, Dodd SaysBusinessWeekLetter: Lehman Accounting Tricks Possibly IllegalABC NewsDodd calls for Lehman Bros. investigationCNN (blog)Wall Street Journal -New York Times (blog) -BusinessWeekall 966 news articles »Bankrupt General Growth faces problem of plenty - ReutersReutersBankrupt General Growth faces problem of plentyReutersThe second-largest US mall owner is working on a plan to exit bankruptcy backed by some of its largest investors while trying to thwart a rival $10 billion ...Glenn J. Rufrano Steps Down from General Growth Properties Board of Directors ...MarketWatch (press release)General Growth Properties (GGP) Is Back In FavorBenzingaGeneral Growth to Submit New Proposal, Lawyer SaysBusinessWeekWaterbury Republican American -Forbes -Wall Street Journalall 323 news articles »Dodd financial reform bill goes too far - Christian Science MonitorGlobe and MailDodd financial reform bill goes too farChristian Science MonitorNotice that this is different from the Lehman Brothers situation, where there was no question the bank was going bankrupt once the expected merger with ...Lehman's Accounting Should Be Probed by Justice, Dodd SaysBusinessWeekLetter: Lehman Accounting Tricks Possibly IllegalABC NewsDodd calls for Lehman Bros. investigationCNN (blog)Wall Street Journal -New York Times (blog) -BusinessWeekall 966 news articles »Acorn on Brink of Bankruptcy, Two Leaders Say - New York TimesAcorn on Brink of Bankruptcy, Two Leaders SayNew York TimesAcorn is holding a teleconference this weekend to discuss plans for a bankruptcy filing, two officials of the group said. They asked not to be identified ...ACORN on verge of bankruptcy: reportReutersall 10 news articles » |
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