Tag: bankruptcy

• Tuesday, November 29th 2011 - 17:11 UTC

  American Airlines files for bankruptcy; plans to cut drastically labour costs

  

  American Airlines and its parent company AMR Corp filed for bankruptcy on Tuesday after failing to win a labour deal with pilots and suffering from mounting fuel costs.

• Tuesday, June 28th 2011 - 06:07 UTC

  French banks agree to roll over holdings of Greek debt for 30 years

  

  French banks have agreed to roll over holdings of Greek debt for 30 years, President Nicolas Sarkozy said on Monday, as the Greek government tries to persuade backbench rebels to back a crucial austerity plan to avert bankruptcy.

• Monday, June 27th 2011 - 15:00 UTC

  Soros: EU on verge of economic collapse; some countries will have to exit the Euro

  

  US/UK Hungarian born billionaire investor George Soros says a country will eventually exit the Euro zone and urged policymakers on Sunday to come up with a “plan B” that could rescue the European Union from looming economic collapse.