A standoff between Hostess Brands Inc. and thousands of its bakery workers was heading for a showdown Thursday as both sides declared they would not bend and were set to accept the demise of the historic maker of Twinkies and Wonder Bread.
Sectors
Hostess Liquidation too Sweet for Managers
Hostess Brands Inc, the maker of the iconic Twinkies snack cake, will square off in a bankruptcy court on Monday against an agent of the U.S. Justice Department, who says the wind-down plan is too generous to management.
Wall Street Week Ahead: Going off 'Cliff' With Bungee Cord
The first round of talks aimed at avoiding the "fiscal cliff" caused a temporary rise in equities on Friday.
Santander Plans to Invest in Spain's Bad Bank
Spain's Santander plans to invest in the country's so-called bad bank in a sign that healthy domestic lenders are willing to support the entity created to clean up the aftermath of a 2008 property crash.
Spain Bad Bank Attracts Interest from Foreign Investors
Spain's bad bank is generating a lot of interest among foreign investors, an economy ministry source said, and the government will meet with five investment banks on Monday to start the search for private capital.
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Beleaguered Japanese consumer electronics maker Sharp Corp is likely to attract investments from US-based Intel Corp and Qualcomm Inc towards the end of the month.
California, long the national leader in clean energy policy, is poised to double down on its investments in the sector, with billions in new subsidies set to flow in over the next few years.
China-focused private equity firm Fountainvest Partners, headed by ex-Temasek executive Frank Tang, has raised $1.35 billion in its second fund, the company said on Wednesday, defying tight fundraising conditions in Asia.
Stock markets retreated on Wednesday and a small bid for safety helped safe-haven U.S. Treasuries erase some losses as investors waited for progress in approving aid for Greece and in averting potential U.S. fiscal constraint in early 2013.
President Barack Obama's next choice to head the U.S. Federal Reserve could have his or her hands tied if Ben Bernanke and company continue to re-write the policymaking rule book at their current clip.
Banking group HSBC has settled a case brought by a fund over losses it suffered during the collapse of fraudster Bernie Madoff's financial empire, potentially paving the way for more claims against fund custodians.
Germany's largest utility, E.ON AG, warned it was reviewing its earnings outlook for 2013, citing weak economic conditions that have hurt the energy industry.
Wall Street's post-election sell-off may gather steam in the coming weeks as worries mount about the looming "fiscal cliff" and technical weakness suggests a possible correction ahead.
U.S. stocks and oil prices rebounded on Friday on news U.S. consumer sentiment rose in November to a more than five-year high, offsetting fears a looming "fiscal cliff" in the United States and Europe's troubled finances and weak economies may tip the world into recession.
