By Manya Saini, Arasu Kannagi Basil and Ateev Bhandari (Reuters) -U.S. bank stocks, including Zions Bancorporation, Jefferies, and Western Alliance, fell sharply on Thursday as investors grew uneasy about risk in the sector, which has been shaken by exposure to two auto bankruptcies. Zions sank 12% after disclosing it would take a $50 million loss…
By Manya Saini, Arasu Kannagi Basil and Ateev Bhandari (Reuters) -U.S. regional bank stocks fell on Thursday after Zions Bancorporation disclosed it would take a $50 million loss in the third quarter on two commercial and industrial (C&I) loans from its California division. The disclosure added to growing investor unease about hidden credit stress as…
(Bloomberg) — When At Home Group Inc.’s lawyer stood before a US bankruptcy judge last month asking to wipe out nearly $2 billion of the retailer’s debt, the reason came quick: tariffs. It’s a line that’s showing up in more and more courtrooms. Tile importer Mosaic Cos. blamed them in a recent filing. Just weeks…
“Is it ever sad when fast fashion bites the dust?” Kim France, the founding editor of the seminal Condé Nast shopper Lucky and producer of the popular newsletter “Girls of a Certain Age” said on Tuesday, reacting to news that Forever 21 had filed for bankruptcy. The answer depends on how passionate a consumer is…
The Russian economy is facing the prospect of a huge rise in corporate bankruptcies as firms are driven to the edge by a record key interest rate. The Center for Macroeconomic Analysis and Short-Term Forecasting (CMASF), which is close to the Russian government, said that one in five manufacturing enterprises must pay two-thirds of pretax…