UPDATE 1-Intermet files for Chapter 11, cites steel costs
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Auto parts maker Intermet Corp. (INMT.O: Quote, Profile, Research) said on Thursday it has filed for Chapter 11 bankruptcy reorganization, citing a record rise
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Steel shares hit seven-year highs yesterday after Nissan said the metal is in short supply in Japan. US Steel rose $3.30, or 7%, to $51.25, while Nucor surged $2.90 to $54.05, an all-time high.
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The company tightens its forecast on cost concerns.
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Lakshmi Mittal, who is based in the UK, yesterday set his seal on the consolidation of the global steel industry with a $17.8bn (Â£10bn) double merger to create the world&#39;s largest producer.
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TORONTO (CP) - Stelco Inc.&#39;s protection from creditors was extended to Feb. 11 on Thursday at a court hearing in which lawyers for shareholders and workers ganged up on a bid by Deutche Bank to refinance the steelmaker.
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Insiders says the company will file for Chapter 7 protection after laying off hundreds.
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The PIMCO mutual fund group&#39;s adviser and two affiliates will pay $11.6 million to settle US Securities and Exchange Commission charges involving improper &quot;revenue-sharing&quot; payments to brokers, said a source familiar with the case
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A month after a devastating legal ruling, the SCO Group said Friday it's filed for Chapter 11 bankruptcy protection while it reorganizes.
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India's Tata Steel is set to become the world's fifth-biggest steelmaker after winning a bid battle for Anglo-Dutch steelmaker Corus Group by agreeing to pay 5.75 billion pounds ($11.3 billion).
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Auto-parts maker Intermet Corp. has filed for Chapter 11 bankruptcy, blaming soaring prices for scrap steel and other raw materials.
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Ispat International (ISPA.AS: Quote, Profile, Research) will buy LNM Holdings and International Steel Group Inc. (ISG.N: Quote, Profile, Research) , forming the world&#39;s largest
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A month after a devastating legal ruling, The SCO Group says it's filed for Chapter 11 bankruptcy protection while it reorganizes.
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America's biggest steel maker, International Steel Group Inc., agreed to a $4.5 billion buyout bid from a Dutch concern in a multipart transaction that will create the world's largest steel company.
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The agreement will reduce the company's $1.8 billion debt by $400 million as part of the filing for Chapter 11 bankruptcy.
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America&#39;s biggest steel maker, International Steel Group, agreed to a $4.5 billion buyout bid from a Dutch concern in a multipart transaction that will create the world&#39;s largest steel company.
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By BRIAN BERGSTEIN BOSTON - IBM Corp. disclosed Tuesday that it is taking on $11.5 billion in new debt to finance the aggressive accelerations of its stock repurchase plan, which appears to be one of the largest such steps ever.
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Corporate rescue firm Stephen Forbes Cooper LLC applied to a Manhattan bankruptcy court today for the "success fee" as payment for guiding Enron through the Chapter 11 process.