Two University of Illinois experts in bankruptcy law are saying that the legal principles applied in the bankruptcy reorganizations of GM and Chrysler were misguided, and have ultimately undermined the distributional norms of bankruptcy reorganizations.
Home foreclosures in the U.S. in October fell by 9 percent primarily because some major banks temporarily froze foreclosure proceedings and delayed sales of foreclosed properties nationwide after being criticized for shoddy paperwork, according to real estate data company RealtyTrac.
A study on charts shows that silver may not continue to enjoy the status of being better investment alternative over gold in the short-to-medium-term period. And not only that, any correction in both the metals will happen with the white metal falling much steeper than its yellow counterpart.
Leaders at the G20 spent as much time promoting the process itself as the real accomplishments of the summit. Most said that while there was little in the way of concrete rules, there were a number of steps in the right direction.
Brazilian Finance Minister Guido Mantega touted the voice developing nations had in the G20 process and getting the Chinese delegation to change its mind. But he was hit with tough questions about the G20 process and whether it made any real difference to the world economy.
U.S. President Barack Obama said the G20 economies have been successful in putting the world economy back on the path of recovery, but admitted that the progress was not fast enough as expected, especially in creating more jobs.
Nissan Motor Co is recalling 604,500 vehicles in North and South America and Africa markets over fears that a fault could cause the steering column to crack.
General Electric Co will buy 25,000 electric vehicles by 2015 for its own fleet and through its Capital Fleet Services business.
The leaders of the G20 countries completed their summit in Seoul, South Korea with an agreement to push for “market-determined” currency exchange rates, to enhance exchange rate flexibility, and to establish a timetable to lay out “indicative guidelines” for global economies to confront trade imbalances by the first half of next year.
The People's Republic of China (PRC) is set to grow at an annual average rate of 8 percent for many years to come, but the country needs to carry out broad structural reforms to ensure that prosperity is shared by all, a leading PRC investment official said on Friday.
Cell phone giant Nokia, which is struggling to regain its market share in the United States, could find its new growth engine in the form of emerging markets and surging demand for smartphones.
General Motors is recalling 14,245 Cadillac DTS and Buick Lucerne cars with V8 engines from the 2010 and 2011 model year to address potential problems with the power steering, while Chrysler is recalling 16,229 Jeep Liberty models over faulty windshield wipers.
The G20 statement differs little from [that of ] the October meeting. The statement calls for market-determined exchange rates, gradual adjustments in imbalances and condemns trade protectionism
Indian gold demand is likely to recover near to its pre-credit crunch level following the fall in demand in 2009, said World Gold Council (WGC) on Friday in a report titled India: Hear of Gold.
The Group of 20 at its summit in Seoul announced setting up of an SME Finance Innovation Fund with $ 28 million in fresh commitments and another $510 million drawn from their existing commitments in other funds.
There has been “big progress” in the negotiations between world political leaders as they seek to hammer out an agreement and compromise on major economic issues on the final day of the G20 summit in Seoul, South Korea.
The much anticipated, talked about, and at times criticized program of the second round of quantitative easing has begun.
After a long gap, the trial of Ingmar Guandique, who has been accused of murdering federal intern Chandra Levy, resumed on Wednesday and took a sudden turn with the prosecutors resting their case after abruptly dropping two charges against Guandique because a prison inmate has refused to testify against him, even as a FBI forensic expert claimed he had found former Congressman Gary Condit's DNA on Levy's underwear.
Authorities in Australia, which is a staunch opponent of death penalty, are in a dilemma over whether they should deport Honeymoon Killer Gabe Watson, who completed serving his prison term in Australia on Wednesday, to Alabama, U.S., a pro-death penalty state that wants to try him again over his wife's death.
Jim Cramer, a financial pundit and former hedge fund manager, said the best way of making money off the G20 Seoul summit is betting it won't go well. And one bets against the summit by buying gold, he said.
According to reports in tech websites, Microsoft's Windows Phone 7 handsets sold 40,000 units on Monday, the day they were launched in the U.S.
The global currency war will likely dominate discussions at the G20 Seoul summit. Other issues on the agenda include global financial regulation, development gaps, and dealing with disruptive capital inflow and outflows.
