LANSING The Michigan Senate on Tuesday approved a $720 million restructuring plan that would divide Detroit’s ailing school district in two, creating a new district in which new traditional or charter schools could automatically open only if they replicate a school with top marks in an A-to-F accountability system. But the House does not expect…
OTTAWA — The Liberal government is planning to pile on more than $100 billion in public debt over the coming years as part of an ambitious strategy it hopes will revive economic growth over the long haul. However, the blueprint tabled Tuesday has no firm timetable on when the deficits will end — and the…
Maurice Lévy spoke about the future of Publicis and why holiding companies are dead. Source: Getty Images Advertising agencies must evolve in order to survive and support the growing demands of clients. Otherwise, they’re doomed to fail, agency leaders speaking at the 4A’s Transformation conference say. Speakers at the Miami conference including Publicis Groupe CEO…
Get an inside look at Wall Street with StreetInsider Premium. Get your 2-week free trial here Standard & Poor’s Ratings Service said it revised its rating outlook on China XD Plastics Co. Ltd. (Nasdaq: CXDC) to negative from stable. In line with this revision, we lowered the long-term Greater China regional scale rating on the…
Debra Duardo, a former high school dropout, will become the top education official for Los Angeles County, heading an agency that provides schooling for teenage inmates as well as for thousands of disabled studentsprograms that have been criticized in recent years. Duardo, 53, was the consensus pick of the countys five-member Board of Supervisors after…
CALGARY — A small energy producer with wells and facilities in Alberta and B.C. says it has shut down production, laid off all non-executive employees and its directors and officers have resigned after a bank called in a loan. Calgary-based Terra Energy Corp. has long been struggling to turn a profit, first as low natural…
More than a third of restaurant businesses in Merseyside and the North West are at a higher than average risk of failure over the next 12 months, a study claims. Research carried out by insolvency trade body R3 reveals restaurants ow have the highest risk of failure of any of the key sectors in the…
Local news St. Thomas Funds from the Lonesome Dove oil well will go toward the Government Employee Retirement System after the company’s V.I. tax obligation of $21 million is paid off, if a bill approved in the Finance Committee Monday is enacted into law. The action will not help stave off GERS bankruptcy but is…
Heritage FA Limited, which marketed and sold coloured diamonds and other commodities to the public for investment, has been ordered into liquidation following a petition presented by the Secretary of State for Business, Innovation and Skills. The petition was issued following confidential enquiries carried out by Company Investigations, part of the Insolvency Service, under…
LONDON, March 21 (IFR) – Norske Skog has rejigged its bond exchange yet again in response to a controversial legal ruling, with the help of new financing from funds GSO and Cyrus. The latest move ups the ante in the long-running battle between Norske Skog’s unsecured and secured bondholders, which has sparked accusations of nefarious…