Archive for June, 2009

Eddie Bauer became the latest high profile corporate entity to buckle under recession when it filed for bankruptcy on Wednesday. The retail company declared that it was being compelled to declare bankruptcy under pressure of enormous debt payments and sharp drop in customer spending. Eddie Bauer Holdings Inc is believed to have lost almost half... »

 The US president has plans to invest the Federal Reserve with greater powers but is aware that the reforms will have to be balanced out with a new regulatory body. The US administration has released a report titled “Financial Regulatory Reform: A New Foundation” which calls for broad changes in the structure of the central... »

US auto giant, bankrupt General Motors has to pay $9.55 million (almost Rs 45 crore) in trade debt to the steel maker ArcelorMittal. The US auto making giant, which filed for bankruptcy protection under Chapter 11 on Monday, owes as much as a staggering $172.81 billion in total debts to its 50 largest credit... »