Mallinckrodt, ensnared in opioid crisis, seeks Chapter 11

A New Jersey drugmaker ensnared in the fallout from America’s opioid crisis is seeking bankruptcy protection. Mallinckrodt said Monday that it had begun Chapter 11 proceedings to restructure debt and resolve “several billion dollars of otherwise unmanageable potential legal liabilities.” The drugmaker, one of the highest-volume opioid producers in the […]

Top Wall Street Derivatives Cop to Step Down

With James McDonald as enforcement director, the Commodity Futures Trading Commission filed 113 enforcement actions in the 2020 fiscal year, which ended Sept. 30. Photo: andrew kelly/Reuters WASHINGTON—The chief enforcement watchdog of U.S. derivatives markets is stepping down as his agency wraps up some of its largest investigations. James McDonald, […]

US Unemployment Rate Falls To 7.9% In September: Govt

The United States added a less-than-expected 661,000 jobs in September but the unemployment rate fell to 7.9 percent, the Labor Department said Friday, underscoring the economy’s tortured recovery from Covid-19. The positions gained last month were less than half of the upwardly revised nearly 1.5 million positions added in August, […]

Conveyor system company expands in Pasco County

SAN ANTONIO — A conveyor system company which first opened in Pasco in 2014 will invest $2 million to expand its business at the One Pasco Center business park, the Pasco Economic Development Council announced last week. The company, Conveyor Consulting and Rubber Company, plans to build two new facilities, […]

German Cabinet approves 2021 budget with high borrowing

Germany’s Cabinet on Wednesday approved a 2021 budget that foresees significant borrowing for the second consecutive year as Europe’s biggest economy tries to lessen the fallout of the coronavirus crisis. The budget plan calls for spending of 413.4 billion euros ($485 billion) next year, down from this year’s exceptionally high […]

UBS Buying Credit Suisse? Give It a Chance

UBS Chairman Axel Weber and his counterpart Urs Rohner at Credit Suisse are talking about a tie-up that would help the merged bank compete better against U.S. and Asian rivals, Inside Paradeplatz reported on Monday. Weber would stay on beyond his expected departure in 2022 while Credit Suisse Chief Executive Thomas Gottstein would […]