MCI takes $3.5 billion asset charge
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ASHBURN, Va. -- MCI Inc. plans to write down the value of its assets by $3.5 billion to reflect the decreased worth of the company&#39;s telephone network as its consumer business shrinks.
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Freddie Mac, the government-chartered mortgage company that restated earnings by $5 billion, said yesterday that it might be the subject of a civil lawsuit by the Securities and Exchange Commission.
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NOVEMBER 04, 2004 (IDG NEWS SERVICE) - MCI Inc. reported a $3.4 billion third-quarter loss today, due mainly to a write-off of the value of its assets, as the company&#39;s efforts to recover from bankruptcy were
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MCI Inc. (MCIP.O: Quote, Profile, Research) on Thursday reported a $3.4 billion third-quarter loss as it wrote down the value of its assets due to a withering price war for long-distance telephone service.
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Creditors asked the court to force MCI to cover the costs of gathering documents demanded by the SEC. -The Washington Post
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Ingersoll-Rand Co Ltd  said on Friday it has taken a noncash pretax charge of $449 million for pending and estimated future asbestos claims through 2053.
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Gold Fields will be expected to sell its international assets valued at up to $3.5 billion and return the cash to shareholders as part of its defence against a hostile all-share bid from rival gold producer Harmony.
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A federal court Wednesday barred No. 2 US long-distance carrier MCI Inc. from making further payments to cover more than $25 million in unauthorized expenses related to bankruptcy of predecessor WorldCom.
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The bond insurer, which took a $5.21 billion write-down, said it is reviewing ways to raise capital.
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WASHINGTON (DowJonesAP) - Leucadia National (LUK) said it has sold its stake in MCI (MCIP) for a pretax gain of $20 million. The investment firm said Monday in a regulatory filing that the sale shouldn&#39;t
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MCI Inc.&#39;s quarterly loss ballooned to $3.4 billion as the No. 2 US long-distance company wrote down the value of its assets due to a price war in long-distance services, MCI said on Thursday.
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Citigroup Inc  plans to inject about $3.3 billion into six of the seven structured investment vehicles it took onto its balance sheet last year, to shore up their credit ratings and protect creditors, Dow Jones Newswires said on Tuesday, citing people familiar with the situation.
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MCI Inc. (MCIP.O) has offered to pay states from 2 cents to 30 cents on the dollar to settle charges it owes them as much as &#36;2 billion in back taxes, people familiar with the matter said on Thursday.
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A federal judge in Manhattan said Wednesday that MCI Inc., formerly known as WorldCom, may have violated a court order by paying more than $25 million in professional services fees as part of its bankruptcy proceedings.
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IT services provider Electronic Data Systems yesterday reported a net loss of $153 million for the third quarter, with earnings hit in part by an asset impairment charge of $375 million connected with EDS's N/MCI project.
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MCI, which as Worldcom became the world's largest corporate bankruptcy, sees losses balloon to $3.4bn thanks to a price war.
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Just five months after emerging from bankruptcy protection, MCI Inc. has hired investment and legal advisers to solicit potential buyers for the telecommunications giant, sources close to the company confirmed.