The US Department of Justice objected to four restructuring plans put forth by bankrupt LightSquared and its creditors. The objection will be discussed at a bankruptcy court hearing on December 10 in Manhattan.
Sectors
EU regulator investigates container-shipping firms for possible price fixing
The European Commission is looking at the way container-shipping companies announce their price increases, saying it may be possible that they are colluding with each other to rig prices.
Eagle Genomics gets an additional USD 1.6 million in funding
Eagle Genomics, a Cambridge, UK-based provider of bioinformatics software and services covering life science and other sectors, has successfully raised an additional USD 1.6 million in funding.
Apache Corp discusses possible asset sale to YPF- sources
Two sources told Reuters that Apache Corp and state-controlled Argentine energy company YPF had been in discussions for the possible sale of Apache's stakes in Argentina.
Sitari Pharmaceuticals successfully raises USD 10 million in Series A funding
Sitari Pharmaceuticals, a San Diego, CA-based developer of multiple disease indication treatments with a focus on celiac diseases, raised USD 10 million in Series A funding. The fund would be used to continue supporting research and development of novel treatments for celiac diseases.
Latest News
Investors showed support in nutrition company Herbalife International on the stock exchange on Friday despite another attack from activist investor Bill Ackman of hedge fund Pershing Square Capital Management.
Fisker Automotive Inc filed for bankruptcy and plans for its assets to be acquired by Hybrid Technology. The group included Richard Li, the son of Hong Kong's richest man.
Micro-blogging site Twitter reportedly enabled Perfect Forward Security (PFS) across its mobile site, website and API feeds.
Yahoo's USD 1 billion convertible bond offer and USD 5 billion stock buyback authorization was made to protect the company's stock price, writes Stephen Gandel on Fortune's Term Sheet.
Lavabit lawyers have submitted a reply in brief to the Feds in a case that will determine whether they will hand over their master encryption keys for its entire system to the government.
Google Inc is looking for ways to use prescription lenses for its Google Glass design. Efforts are in place to keep them from not just becoming another niche products for nerds.
Pork producer The Maschhoffs LLC announced on Friday that it has agreed to purchase chicken company GNP Company for an undisclosed amount. GNP company is the 18th-biggest broiler producer in the US.
Stephen Cutler, the top lawyer for JPMorgan Chase, lashed out against government regulators in an industry conference at The Clearing House attended by both bankers and regulators.
J.C. Penney was dropped from the Standard & Poor's 500 index after losing more than half of its market value this year alone. Its downward spiral began during a failed transformation under former CEO Ron Johnson, who was fired last April after 17 months in the job.
