Business and Finance news

A group of noteholders of bankrupt regional theme park operator Six Flags Inc said on Sunday it submitted an alternative reorganization plan that transfers most of the equity to them.
The group said their plan, submitted to Six Flags’ board of directors on November 25, was supported by noteholders owning more than $500 million of […]

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To Val Sklarov, giving tax breaks and millions of dollars in city loans to move a law firm a few blocks across downtown is basically un-American.
But is it legal?
That’s now a question for the courts to decide, after Sklarov filed a lawsuit last week challenging St. Louis city incentives for the redevelopment […]

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Chancellor Angela Merkel’s Christian Democrats offered more tax cuts in talks with their prospective coalition partner as they bid to break a deadlock that’s holding up the formation of Germany’s next government.
The Christian Democratic Union raised the amount it’s prepared to spend in tax cuts to 20 billion euros ($30 billion) from an […]

U.S. foreclosure filings climbed to a record in the third quarter as lenders seized more properties from delinquent borrowers, according to RealtyTrac Inc.
A total of 937,840 homes received a default or auction notice or were repossessed by banks, a 23 percent increase from a year earlier, the Irvine, California-based seller of default data […]

The Federal Reserve signaled that the U.S. economy’s return to growth is insufficient to withdraw stimulus as officials seek to reduce the highest unemployment rate in a quarter century.
While the economy has “picked up,” the central bank’s planned asset purchases will help ensure a “gradual return to higher levels of resource utilization,” the […]

Barnes-Jewish Hospital is getting a new leader next month at a time when health care facilities are feeling the pinch of the troubled economy and facing the uncertainties of health care reform.
But Richard Liekweg, who will become president of Barnes-Jewish and Barnes-Jewish West County Hospital on Sept. 14, believes BJC HealthCare is on […]

South Africa’s central bank unexpectedly cut its benchmark interest rate by half a percentage point, the sixth reduction since December, to curtail the economy’s first recession in 17 years.
The repurchase rate was lowered to 7 percent, Governor Tito Mboweni said in a televised speech from Pretoria today. Only three of 27 economists surveyed […]

New Zealand’s economy is likely to start recovering earlier than many of its trading partners, Reserve Bank Governor Alan Bollard said.
“Early signs of a global recovery have now emerged,” Bollard said in notes for a speech delivered today to a business audience in Napier. “New Zealand looks likely to start recovering ahead of […]

U.K. financial services companies may cut 13,000 jobs in the third quarter even as they expressed rising optimism for the first time in two years, Britain’s biggest business lobby group said.
“Conditions still remain rough but there are signs of some improvement expected in the coming months,” according to Ian McCafferty, the Confederation of […]

South Asia’s “historic elections” in the past 18 months have advanced democracy in the region and may spur economic integration, said Sheel Kant Sharma, secretary general of the South Asian Association for Regional Cooperation.
The South Asian grouping, called Saarc, which includes India, Pakistan, Sri Lanka, Afghanistan, Nepal, Bangladesh, Maldives and Bhutan, has struggled […]