Cineworld expects to emerge from Chapter 11 bankruptcy protection in July, the British cinema chain operator said on Thursday, adding that its proposed debt restructuring has the backing of most of its lenders.
The U.S. Treasury Department is at risk of defaulting on its debt if Congress doesn't act to lift the debt ceiling before it is reached, which could happen as soon as June 1. For holders of Treasury bills, notes and bonds, that raises uncertainty over whether the issues they hold will be affected, and what happens if the debt is not repaid or an interest payment is skipped.
Sharp has delivered a wake-up call to Foxconn. The $46 billion iPhone supplier, formally known as Hon Hai Precision Industry , rescued the Japanese electronics group in 2016 with a promise to turn it around. Sharp's surprise $1.6 billion writedown in the three months to March casts doubt on the Taiwanese group's grip on its investment - and its ability to strike similar deals.
UBS will have an "incredibly high bar" on investment banking staff it takes on from Credit Suisse following the merger of the two banks, UBS Chairman Colm Kelleher said on Wednesday.