A private-equity firm says PPG portrayed its automotive glass division in too good of a light, and now it’s going to court to get out of a $500 million deal to purchase the unit.
Beverly Hills-based Platinum filed a lawsuit on Wednesday asking that a New York State court cancel the purchase agreement, claiming that PPG […]
By Grant Smith and Christian Schmollinger
Bloomberg
Crude oil was little changed in New York after gaining on an Energy Department report that showed U.S. inventories declined more than expected last week.
Stockpiles fell to the lowest since January 2005, and supplies of distillate fuel, including heating oil, dropped the most since February. Prices initially rose after yesterday’s […]
By DAVID MCLAUGHLIN
Investors in a failed hedge fund run by Ritchie Capital Management LLC want to force the fund into bankruptcy and investigate possible mismanagement and fraud by Ritchie Capital.
The investors, themselves hedge funds, filed an involuntary Chapter 11 petition with the U.S. Bankruptcy Court in Chicago, accusing Ritchie Capital of keeping them in the […]
The automaker is introducing a concept compact hybrid pickup designed in America, for Americans
BusinessWeek - The design brain trust of the world’s most successful auto company is discreetly tucked away in a leafy suburb of Newport Beach, Calif. Toyota’s ™ Calty design and research facility sits inconspicuously at the end of a sleepy Orange County […]
Exxon Mobil, BP May Lose Leases to Alaska Oil Field (Update2)
(Bloomberg) — Exxon Mobil Corp., BP Plc and other oil companies may have their leases for an Alaska oil and gas field revoked by the state because they took too long to develop it, a judge said.
Alaska Superior Court Judge Sharon Gleason ruled yesterday that […]
NEW YORK -
Moody’s Investors Service said Thursday it upgraded the long-term debt ratings of Pacific Gas and Electric Co. and parent PG&E Corp., citing an improved regulatory environment in California.
Pacific Gas and Electric’s issuer rating and senior unsecured debt rating were raised one grade to “A3″ from “Baa1.” PG&E’s issuer rating and bank loan rating […]
(Bloomberg) — Genesco Inc., the Nashville, Tennessee-based shoe and clothing retailer, won a bid to force competitor Finish Line Inc. to complete a $1.5 billion acquisition.
Finish Line was barred from walking away from the deal, Tennessee Chancery Court Judge Ellen Hobbs Lyle held yesterday as part of her ruling in state court in Nashville.
Finish Line […]