NEWSWORTHY
With hundreds of lawsuits looming, OxyContin maker Purdue Pharma weighs bankruptcy
The company that has made billions selling the prescription painkiller OxyContin says it is considering bankruptcy as one of several possible legal options. Connecticut-based Purdue Pharma's statement comes as the first trial date nears in hundreds of lawsuits aiming to hold the company and others ...
Faced with massive suits over California wildfire damages, PG&E files for bankruptcy protection
Faced with potentially ruinous lawsuits over California's wildfires, Pacific Gas & Electric Corp. filed for bankruptcy protection Tuesday in a move that could drive up rates for customers of the U.S.'s biggest utility and reduce the size of any payouts fire victims receive. The Chapter ...
Historic U.K. music retailer HMV collapses in wake of digital surge
The music retailer HMV, which was launched by English composer Edward Elgar in 1921 and helped propel the Beatles to fame, collapsed into administration on Friday as consumers switch to digital streaming. His Master's Voice, which is known worldwide for its iconic logo showing a ...
USA Gymnastics said Wednesday it had filed for bankruptcy protection as the embattled governing body continues to grapple with the aftermath of the Larry Nassar abuse scandal. In a statement on the organization's website, USA Gymnastics said it had filed for Chapter 11 bankruptcy in ...
Sears prepares to file for bankruptcy in coming days: sources
Sears Holdings Corp. is preparing to file for Chapter 11 bankruptcy protection in the coming days following years of declining sales, sources said on Wednesday, casting doubt over the survival of what was once the world's largest retailer. The bankruptcy filing would end a standoff ...
Food-seller Kefir goes bust after attracting thousands of investors
A Tokyo-based seller of yogurt, dried fruit and other food products went under Monday after attracting tens of thousands of investors by promising future returns if they paid to become "owners" of its products. Kefir Inc. said the Tokyo District Court has accepted an application ...
Five years after declaring bankruptcy, Detroit boasts rebirth — but at a cost
It has been five years since Detroit bottomed out after decades of decline, admitting in the largest U.S. municipal bankruptcy filing ever that the country's one-time industrial engine could no longer pay its bills. The turnaround since then has been remarkable, with major investments that ...
Defining the Heisei Era: Japan experiences a hangover
The Japan Times presents the second installment of a monthly 12-part series that looks back at the leading issues of the past three decades.
Head of failed travel agency Tellmeclub pleads guilty to fraud and offers apology
The president and a former employee of failed travel agency Tellmeclub, which offered budget overseas tours, pleaded guilty on Wednesday to defrauding two banks of about ¥550 million ($5 million) in loans by window-dressing earnings data. "(The allegations are) all correct. I'm very sorry," the ...
FirstEnergy's power plant unit files for bankruptcy after plan to scrap three nuclear sites
A subsidiary that runs FirstEnergy Corp.'s nuclear and coal-fired power plants has filed for bankruptcy after the utility said earlier that it planned to close its three nuclear plants in Ohio and Pennsylvania. The move announced by FirstEnergy Solutions late Saturday signals the parent company's ...
Weinstein Co. files for bankruptcy, ends all nondisclosure agreements in move seen squelching suits
U.S. film and TV studio The Weinstein Company, whose ex-Chairman Harvey Weinstein has been accused of sexual harassment and assault, filed for bankruptcy on Monday and said it was ending all non-disclosure agreements that may have silenced some women. The filing in U.S. Bankruptcy Court ...
The Weinstein Company looks to file for bankruptcy, putting any sexual abuse redress in doubt
The Weinstein Company said late on Sunday that the U.S. film studio, whose ex-chairman, Harvey Weinstein, has been accused of sexual harassment and assault, planned to file for bankruptcy in the coming days after talks to sell itself collapsed. Filing for bankruptcy protection creates more ...
