The publisher of Reader's Digest on Monday filed for Chapter 11 bankruptcy protection, carrying out its plan to cut debt and transfer ownership of the 87-year-old U.S. magazine and other businesses to a group of lenders.
NEW YORK (Reuters Life!) - The U.S. units of media company Reader's Digest Association Inc filed for bankruptcy, marking a new chapter for the 87-year-old magazine as it carries out a plan to cut its debt and transfer ownership to a group of lenders.
Sales of previously owned U.S. homes notched their fastest pace in nearly two years in July, an industry survey showed on Friday, the strongest sign yet that housing was pulling out of a three-year slump.
Sales of previously owned U.S. homes notched their fastest pace in nearly two years in July, an industry survey showed on Friday, the strongest sign yet that housing was pulling out of a three-year slump.
In an effort to combat falling advertising revenue, News Corp executives have been proposing the formation of a consortium with other publishers to charge for news distributed on the Internet and on portable devices, the Los Angeles Times reported on its website.
The United States strongly condemned Thursday's decision by Scottish authorities to free a terminally ill Libyan convicted of the 1988 Lockerbie plane bombing, saying there was no justification for his release.
The United States strongly condemned Thursday's decision by Scottish authorities to free a terminally ill Libyan convicted of the 1988 Lockerbie plane bombing, saying there was no justification for his release.
A coalition of U.S. state pension funds is supporting the private equity industry's opposition to new rules on takeovers of troubled lenders, the Financial Times reported on its website.
Don Hewitt, creator of CBS News' 60 Minutes program, died of pancreatic cancer Wednesday at his home in Bridgehampton, New York. He was 86.
A former Bear Stearns Cos hedge fund manager facing an insider trading charge routinely ignored warnings of potential conflicts of interest, and was rebuffed when he tried to pledge some money toward a loan to build a luxury Florida condominium, prosecutors said.
No. 1 home improvement chain Home Depot Inc is banking on a slow-but-steady growth strategy and cost cuts to fight lackluster demand for big-ticket remodeling projects.
Home Depot Inc posted a better-than-expected quarterly profit and raised its full-year forecast after cost cuts kicked in and sales improved in areas that had been hard hit by the U.S. housing downturn.
Albert Gonzalez is the mastermind behind what authorities have reported as the largest hacking and identity theft case ever in U.S. history.
Britain's Academy of Contemporary Music is opening its first U.S. branch in Oklahoma City, with ambitious plans to enhance touring opportunities in the region, as well as educate students for a career in the music business.
A former Credit Suisse Group AG broker was convicted by a federal jury of fraud for steering corporate clients into risky auction-rate securities, causing nearly $1 billion of losses.
Charles Schwab Corp was sued by New York Attorney General Andrew Cuomo, who accused the discount brokerage of fraudulently misleading investors about the safety of auction-rate securities.
Reader's Digest Association Inc, whose namesake magazine has been a staple of dentists' offices for generations, said on Monday it planned to file for Chapter 11 bankruptcy for its U.S. businesses as part of a prearranged plan with lenders to cut debt by 75 percent.
Reader's Digest Association Inc, publisher of the widely-read Reader's Digest magazine, said on Monday it would likely file for Chapter 11 bankruptcy for its U.S. businesses to cut its debt load.
Reader's Digest Association Inc, publisher of the widely-read Reader's Digest magazine, said on Monday it would likely file for Chapter 11 bankruptcy for its U.S. businesses to cut its debt load.
The euro hit a two-week low against the dollar and neared a one-month trough against the yen on Monday as world stock markets fell and doubts about a U.S. recovery prompted investors to cut exposure to risk.
Just weeks after quitting smoking, women show major reductions in several markers of inflammation associated with heart disease risk, new research shows.
New York Attorney General Andrew Cuomo, probing illegal marketing and sales of auction rate securities , is likely to file a lawsuit on Monday against Charles Schwab Corp for civil fraud, the Wall Street Journal said, citing people familiar with the matter.
