Bankruptcy

UPDATE 1-Detroit pension deal approved by one retirement system

(Recasts with vote by general retirement system board, adds comments from law professor)

Detroit pension board OKs economic terms of proposed settlement

April 16 - Detroit's General Retirement System board on Wednesday passed a resolution supporting economic terms of a proposed settlement that is a key component in the city's historic bankruptcy case, according to a spokeswoman for the system.

1:22am IST

German luxury fashion house Strenesse files for insolvency

FRANKFURT, April 16 - German luxury fashion company Strenesse, once known for dressing the German national soccer team at official events, has filed for insolvency, it said on Wednesday.

16 Apr 2014

Detroit pension funds say reach tentative pact with city

April 16 - Detroit's two pension systems reached tentative settlements with the bankrupt city over major financial issues late on Tuesday, a significant step in Emergency Manager Kevyn Orr's effort to roll up agreements with major creditor groups.

16 Apr 2014

UPDATE 1-Mt Gox set to liquidate as court denies rehabilitation

* Tokyo court rules 'difficult' for bitcoin exchange to revive

16 Apr 2014

PRESS DIGEST- New York Times business news - April 16

April 16 - The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy.

Regulatory News, 16 Apr 2014

Defunct bitcoin exchange Mt. Gox files for liquidation -WSJ

April 16 - Defunct bitcoin exchange Mt. Gox has given up plans to rebuild under bankruptcy protection and has asked a Tokyo court to allow it to be liquidated, the Wall Street Journal reported, citing people familiar with the situation.

16 Apr 2014

PRESS DIGEST - Wall Street Journal - April 16

April 16 - The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.

Regulatory News, 16 Apr 2014

Michigan, White House discuss federal money for bankrupt Detroit -report

April 15 - Michigan officials and President Barack Obama's Administration are discussing a plan to free up $100 million in federal money to aid Detroit's retired city workers, the Detroit Free Press reported on Tuesday.

16 Apr 2014

UPDATE 2-Bankrupt Detroit reaches first deal with retirees group

* Deal with pension funds may be close (Add statement from city emergency manager, filings by creditors, judge's ruling on hearing motion)

16 Apr 2014
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Is U.S. economic patriotism hurting?

Any Americans believing that their country is being bought up by the Chinese might want to think again, according to the Vale Columbia Center on Sustainable International Investment.

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