Star Tribune emerges from bankruptcy protection with new ownership, reduced debtSeptember 30th, 2009 Star Tribune emerges from bankruptcy protectionMINNEAPOLIS — The Star Tribune of Minneapolis has emerged from bankruptcy protection with new ownership and reduced debt. In emerging from Chapter 11 on Monday, the Star Tribune is now owned primarily by its senior lenders, led by investment group Angelo, Gordon & Co.
Canadian media giant Canwest selling its stake in Australian broadcaster to Macquarie CapitalSeptember 24th, 2009 Canwest to sell stake in Australian broadcasterWINNIPEG, Manitoba — Canadian media giant Canwest Global Communications Corp. is selling its majority stake in Australian broadcaster Ten Network Holdings Ltd.
Nortel to sell its enterprise business FridaySeptember 5th, 2009 TORONTO - Toronto-based Nortel, which is selling its businesses to pay off its creditors, will auction its second biggest division next Friday. The enterprise unit that makes network equipment will be auctioned under court supervision.
National debt doesn't fit on most calculators, so Colo. man made one that can show 16 digitsSeptember 2nd, 2009 Giant national debt needs giant calculatorMONTROSE, Colo. — The national debt is so large, it doesn't even fit on most calculators.
Fitch downgrades CIT Group's issuer default rating after lender completes debt purchaseAugust 17th, 2009 Fitch downgrades CIT's issuer default ratingNEW YORK — Fitch Ratings downgraded CIT Group Inc.'s issuer default rating Monday after the commercial lender said it managed to stave off a likely bankruptcy filing by repurchasing some of its outstanding debt at a discount. The rating agency said it lowered the IDR to "restricted default" from "C," following the Monday announcement.
'Behaviour profiling' at Canadian airportsAugust 14th, 2009 TORONTO - Canada will deploy 'behaviour detection officers' at its airports soon to spot terrorists and criminals. These officers in plainclothes will watch air passengers for physiological or bodily hints of any hostile intent in their behaviour as they pass through concourses and departure lounges.
Canada forgives debt of 2.3 million Canadian dollars owed by HaitiJuly 2nd, 2009 Canada forgives debt owed by HaitiOTTAWA — Canada has forgiven 2.3 million Canadian dollars ($2 million) in debt owed by Haiti as part of the federal government's plan to relieve impoverished and heavily indebted countries. Finance Minister Jim Flaherty said Thursday the debt relief will let Haiti spend its scarce resources on its priorities instead of its liabilities.
6 Flags seeks Chapt. 11 bankruptcy protection, says it needs to shed $1.8 billion in debtJune 13th, 2009 6 Flags seeks Chapt. 11 bankruptcy protectionNEW YORK — The amusement park company Six Flags is seeking Chapter 11 bankruptcy protection, saying it needs to reorganize and shed $1.8 billion of debt.
Six Flags seeks Chapt. 11 bankruptcy protection, says it needs to shed $1.8 billion in debtJune 13th, 2009 Six Flags seeks Chapt. 11 bankruptcy protectionNEW YORK — The amusement park company Six Flags is seeking Chapter 11 bankruptcy protection, saying it needs to reorganize and shed $1.8 billion of debt.
$3.8 bn Canadian loan for auto giant ChryslerMay 1st, 2009 TORONTO - Canada will loan $3.8 billion to Chrysler in return for a two percent stake and a say in management as the troubled auto giant undertakes restructuring to survive. The governments of Canada and Ontario province - where most auto plants exist - will jointly pick up the tab, Prime Minister Stephen Harper announced here Thursday.
Canadian, Ontario governments provide financing, get 2 pct stake in retooled Chrysler CanadaApril 30th, 2009 Canadian governments to lend to Chrysler CanadaTORONTO — The Canadian and Ontario governments will jointly hold a 2 percent equity stake in a restructured Chrysler Canada and will lend about 3 billion Canadian dollars (US$2.42 billion) to help the beleaguered company while it is in bankruptcy proceedings. Prime Minister Stephen Harper's office said Thursday that the loan will cover debtor-in-possession financing and exit financing needed when the automaker emerges from court protection.
Canada's National Post newspaper cancels Monday print editions for summerApril 30th, 2009 Canadian newspaper cancels Monday print editionsTORONTO — Canada's National Post, one of the country's two national newspapers, is going without its Monday print editions for nine weeks this summer in a move that will lower its newsprint costs. Company spokeswoman Phyllise Gelfand says the company will still publish an online edition.
World's biggest newsprint co. files for bankruptcyApril 18th, 2009 TORONTO - AbitibiBowater Inc., the world biggest newsprint producer and one of Canada's oldest companies, has filed for bankruptcy. The newsprint giant, which has been refused a rescue package by the Canadian government, faces a debt burden of $6 billion.
Nortel seeks court nod for bonuses to top honchosMarch 20th, 2009 TORONTO - Even as the US House Thursday passed a bill to heavily tax bonuses for executives of companies bailed out with government money, global telecom giant Nortel is seeking court approval for its bonus plans. The company, which was granted bankruptcy protection in Canada and the US in January, will move court here Friday for permission for its $23-million bonus plan for top executives.
Big gains for Canadian marketsFebruary 25th, 2009 TORONTO - With oil prices staying firm above $45 and financial shares rising, the Canadian markets maintained positive gains of the past three sessions Thursday. The composite index on the Toronto Stock Exchange (TSX) rose 3.4 percent or 271.25 points to close at 8,282.27 points on demand for financial and energy shares.
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