Bloomberg reported that the six biggest U.S. banks, led by JPMorgan Chase and Bank of America, have incurred $103 billion in legal costs since the financial crisis.
Bloomberg reported that Toys “R” Us is seeking a $985 million term loan to refinance some of its existing bonds. Goldman Sachs was said to be leading the financing.
Bloomberg reported that Michael Dell and Silver Lake Management increased their offer to buy Dell to $13.75 a share in an effort to win shareholder support.
Bloomberg reported that Fed Chairman Ben S. Bernanke in September will trim the Fed’s monthly bond buying to $65 billion from the current pace of $85 billion.
Bloomberg reported that Detroit’s police and fire pensions lost a bid that would delay the city’s $18 billion bankruptcy. The article said that U.S. Bankruptcy Judge Steven W. Rhodes scheduled a July 24 hearing to determine how much protection the city will get.
Bloomberg reported that Hostess Brands officially revived the iconic snack cake, following seven-month hiatus after the original company liquidated under bankruptcy.
Bloomberg reported that Citigroup named Ashish Bajaj to head its Asia-Pacific commercial bank as it seeks more revenue from small and medium-sized companies in the region.
Bloomberg reported that Kodak is seeking $695 million in loans in order to complete its bankruptcy reorganization. The article said the financing will include a six-year, $420 million term loan.
Bloomberg reported that Carl Icahn, in a bid to force Michael Dell to sweeten his $24.4 billion buyout proposal for Dell, said he’ll increase his offer for the PC maker by adding a warrant.
Bloomberg reported that Fed chairman Ben Bernanke called for keeping accommodation, although minutes of the FOMC’s June meeting showed members debating whether to stop bond buying by the Fed in 2013.