Billionaire investor Carl Icahn offered Tuesday to buy certain classes of debt from CIT Group Inc. bondholders as he tries to thwart a restructuring plan by the commercial lender. Icahn said in a letter he will pay those bondholders 60 cents on the dollar for… Sponsored Topics: CitGroup – CarlIcahn – Loan – Debt – Business
Fund Manager Pellegrini Says Shorting U.S Debt ‘Attractive Bet’ (Bloomberg)
Oct. 27 (Bloomberg) — Paolo Pellegrini , the former Paulson & Co. hedge-fund manager who helped make more than $3 billion with bets on a U.S. housing crash, said shorting long-term U.S. debt is the “only attractive bet” for investment.
Bing’s plan to save Detroit (Detroit Free Press)
Detroit’s mayor says he’ll focus on the city running core services such as police, fire and EMS and outsourcing or privatizing others. And he knows he’s in for a fight.
Fed: consumers cut debt by record $21.6B in July (San Francisco Chronicle)
Consumers slashed their borrowing in July by the largest amount on record as job losses and uncertainty about the economic recovery prompted Americans to rein in their debt. Economists expect consumers will continue to spend less, save more and trim debt to… Sponsored Topics: Debt – Business – Financial Services – Debt consolidation – Financial Planning
Figures on government spending and debt (San Francisco Chronicle)
Figures on government spending and debt (last six digits are eliminated). The government’s fiscal year runs Oct. 1 through Sept. 30. Total public debt subject to limit August 28 11,660,285 Statutory debt limit 12,104,000 Total public debt outstanding August… Sponsored Topics: Government spending – Government debt – Fiscal year – Economic – Government
Deutsche Telekom Posts Higher Profit, Repeats Goals (Update4) (Bloomberg)
Aug. 6 (Bloomberg) — Deutsche Telekom AG , Europe’s biggest telephone company, reported a 32 percent increase in second- quarter profit and reiterated full-year forecasts on measures to improve operations in the U.K., U.S. and Poland.
Deutsche Telekom Posts Higher Profit, Repeats Goals (Correct) (Bloomberg)
(Corrects earnings estimate comparison in 10th paragraph.)_ Aug. 6 (Bloomberg) — Deutsche Telekom AG , Europe’s biggest telephone company, reported a 32 percent increase in second- quarter profit and reiterated full-year forecasts on measures to improve operations in the U.K., U.S. and Poland.
Which Airlines Will Survive? (Forbes)
Another losing quarter, despite painful cutbacks. Consolidation may be the only solution.
(AFX UK Focus) 2009-08-04 16:57 UPDATE 1-Debt-free Infineon to go on M&A prowl (Interactive Investor)
FRANKFURT, Aug 4 (Reuters) – German chipmaker Infineon is ready to help consolidate the semiconductor sector now that a capital hike and the sale of an asset have relieved its stretched balance sheet, it said on Tuesday. Infineon said the capital increase generated gross proceeds of 725 mllion euros ($1.04 billion), letting it restructure its finances and leaving it free of debt. “That gives us …
American Airlines closes $276M private debt sale (San Francisco Chronicle)
AMR Corp., the parent company of American Airlines Inc., said Monday it has closed the sale of $276 million in senior secured notes. The notes are due 2016 and will yield 13 percent. Proceeds were used as cash collateral to refinance, in part, the outstanding… Sponsored Topics: Consumer debt – Credit card – American Airlines – Financial services – Debt consolidation
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