Atlantic City is considering a bankruptcy filing after New Jersey Governor Chris Christie vetoed legislation aimed at shoring up the finances of the distressed casino resort. Mayor Don Guardian said he expects to call an emergency meeting for next week to discuss the citys options. He and Council President Marty Small spoke to reporters in…
The correction on the ASX can be traced directly to Beijing. Photo: Bloomberg Unlike nearly every other advanced economy during the past 25 years, Australia has not had a recession. Not since the short, sharp Keating recession of 1990-91. Our defences against a recession are now threadbare, in large part because the protection provided by…
The correction on the ASX can be traced directly to Beijing. Photo: Qilai Shen Unlike nearly every other advanced economy during the past 25 years, Australia has not had a recession. Not since the short, sharp Keating recession of 1990-91. Our defences against a recession are now threadbare, in large part because the protection provided…
This time next week, well know which song takes the cake in triple js Hottest 100 on Australia Day (PSA: youve got two days left to vote). But while we celebrate one hundred winners – and certified bangers – there could be just as many losers, if youve decided to take a punt and collect…
Arctic oil shipper Primorsk International Shipping Ltd. filed for chapter 11 protection with a deal with bondholders in hand. The Wall Street Journal has the Daily Bankruptcy Review article here. (Daily Bankruptcy Review is a daily newsletter with comprehensive coverage and analysis of emerging and in-progress insolvencies and turnarounds. For a two-week trial, visit http://on.wsj.com/DJBankruptcyNews,…
Sometime in the early 1960s, a man called David Litvinoff awoke to find himself bloody and bruised, his head shaved, tied tightly to a chair that was hanging from the railings of his balcony high above Kensington High Street in west London. He had been knocked out and then hung out to dry, high above…
For months in 1987, Donald Trump maneuvered to take control of the hulking, unfinished Taj Mahal casino in Atlantic City. He snapped up stock in the parent company after its owner died and then made a surprise bid to take the company private. With the Taj, along with two casinos he already owned in the…
People involved in startups are sometimes treated as the rock stars by the business media. Some employees of tech startup Atlassian, for example, have been outed as newly minted millionaires as the company rises in value after its initial public offering on the Nasdaq. All of this makes life in a startup seem like a…
Going private? Going private? A deal hasn’t been completed yet. Photo: Carla Gottgens Investors in $1.16 billion of ASX-hybrid securities issued by Crown Resorts are nursing unexpected losses as a result of majority owner James Packer’s touted move to take the company private. Crown’s two outstanding listed notes issues have declined by more than 10…
Debate will broadcast on Feb. 25, RNC Chairman Reince Priebus announces Monday The GOP presidential debate on Super Tuesday has been moved from NBC to CNN, Republican National Committee chairman Reince Priebus announced Monday. Following criticism of CNBCs handling of Octobers Republican debate, the RNCs debate committee voted to cut NBCs involvement in the debate coming…