Hawker Beechcraft has agreed to a settlement with Pension Benefit Guaranty, which provides for the cancellation of two pension plans, allowing the company to move forward in gaining approval for its plan of reorganization, a Bloomberg article said.
Bloomberg said the U.S. House passed a bill undoing income tax increases for more than 99% of households, giving a victory to President Obama even as Republicans vowed to fight him in coming weeks for spending cuts.
U.S. Bankruptcy Judge Mary F. Walrath in the U.S. Bankruptcy Court in the District of Delaware provided interim approval for THQ to use $6.5 million of its $37.5 million debtor-in-possession loan, a Bloomberg article said.
According to a Bloomberg story, S&P and Moody’s are cutting corporate debt ratings at the fastest pace since 2009 as a global economic slowdown and record borrowing erode credit quality.
Bloomberg reported that Tom Hayes, one of two former UBS traders charged by U.S. prosecutors, is portrayed by regulators as the kingpin of a three-year campaign that succeeded in manipulating global interest rates.