The judge overseeing the bankruptcy of PG&E Corp on Wednesday issued an order opening the door to a group of noteholders to file their own reorganization plan for the California power provider.
(Bloomberg) — California power giant PG&E Corp. was stripped of its right to exclusively pitch a reorganization plan in court, escalating an already-heated battle over the largest utility bankruptcy in U.S. history.U.S. Bankruptcy Judge Dennis Montali said he’ll allow bondholders including Pacific Investment Management Co. and Elliott Management Corp. to pitch their own restructuring plan alongside PG&E’s, so they can both come up with ways the utility could deal with an estimated $30 billion in wildfire liabilities. The damages, tied to blazes that its equipment ignited, forced the utility to file for Chapter 11 in January.It’s the latest twist in …read more […]
Hydraulic fracturing firm ProPetro Holding Corp on Wednesday announced a management shakeup, following an internal investigation into disclosure of electric frac equipment purchases and executive spending.
Dale Redman will no longer be the principal executive, but will remain on as chief executive officer. Phillip Gobe, currently board chairman, will take over as the company’s executive chairman and serve as the principal executive officer, responsible for its annual and quarterly reports. ProPetro said its chief accounting officer had resigned, while chief financial officer moved to the role of chief administrative officer. …read more […]
One of 17 U.S. states that sued to block a proposed $26.5 billion tie-up of Sprint Corp and T-Mobile US Inc agreed to drop the challenge after reaching a deal with the companies.
Gamers are calling for a boycott against Activision Blizzard after the company banned and stripped prize money away from a top player of its online game “Hearth-Stone,” for saying a pro-Hong Kong message on a livestream. …read more […]
One of 17 U.S. states that sued to block a proposed $26.5 billion tie-up of Sprint Corp and T-Mobile US Inc agreed to drop the challenge after reaching a deal with the companies. Mississippi Attorney General Jim Hood said in a statement he will withdraw from the legal challenge over the planned merger of the third- and fourth-largest U.S. wireless carriers. Hood said the prior merger agreement did not include any specific commitments benefiting Mississippi. …read more […]
Surprised and upset by the U.S. blacklisting of Chinese companies, China has lowered expectations for significant progress from this week’s trade talks with the United States, Chinese government officials told Reuters, even as President Donald Trump on Wednesday expressed fresh optimism.
President Donald Trump said on Wednesday there was a very good chance that the United States and China will reach a trade agreement.
We can judge whether The Bank of New York Mellon Corporation (NYSE:BK) is a good investment right now by following the lead of some of the best investors in the world and piggybacking their ideas. There’s no better way to get these firms’ immense resources and analytical capabilities working for us than to follow their […] …read more […]
Boeing Co faced additional uncertainty on Wednesday over future production rates for its 787 Dreamliner after Russian carrier Aeroflot formally canceled an order for 22 aircraft valued at about $5.5 billion at list prices.
Investing in hedge funds can bring large profits, but it’s not for everybody, since hedge funds are available only for high-net-worth individuals. They generate significant returns for investors to justify their large fees and they allocate a lot of time and employ complex research processes to determine the best stocks to invest in. A particularly […] …read more […]
Bed Bath & Beyond Inc said on Wednesday it had hired Target Corp’s chief merchandising officer, Mark Tritton, as its chief executive officer, replacing long-time chief Steven Temares who left the furnishing retailer in May
Tritton joined Target in 2016 and is currently its chief merchandising officer. Tritton’s appointment comes at a time when the company is struggling to keep pace with changing consumer tastes and shopping habits. …read more […]
Out of thousands of stocks that are currently traded on the market, it is difficult to identify those that will really generate strong returns. Hedge funds and institutional investors spend millions of dollars on analysts with MBAs and PhDs, who are industry experts and well connected to other industry and media insiders on top of that. Individual investors can piggyback […] …read more […]
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