WaMu Reorganization Plan Rejected (Businessweek)
Washington Mutual Inc., former owner of the biggest U.S. bank to fail, must try to settle differences among shareholders, hedge funds and other creditors before making its third attempt to exit bankruptcy, a judge said.
Haynes and Boone Expansion (FINAlternatives)
Texas-based law firm Haynes and Boone has added two partners to its New York office as it expands its corporate and capital markets practices. George Wang and Nir Yarden specialize in meeting the needs of private equity and hedge funds, prime brokers and other institutional capital market clients.
German Chancellor Meets with Eurogroup Chairman (Boston)
German Chancellor Angela Merkel is meeting with Eurogroup Chairman Jean-Claude Juncker amid mounting concerns that Europe’s debt crisis is hurting banks and causing an economic slowdown.
Chavez Seizes Los Roques Property (ABCNews)
Venezuelan President Hugo Chavez announced Thursday that his government will expropriate homes on the Caribbean resort islands of Los Roques, saying the structures were built on plots bought in shadowy business deals.
Moody’s Downgrades UK Banks (NYTimes)
Sean Parker is capping his return to the spotlight by cofounding a new startup with his Napster partner Shawn Fanning, Joseph Menn at the FT reports. The company is Airtime, and it will be some sort of social video service. It’s supposed be like Chatroulette, but different. Actual details on the company are limited.
We noted earlier that the Canadian jobs report smashed expectations, and so we wondered if this augured well for the US. For some help, a reader sent us this chart, overlaying the jobs recovery in the US and Canada.
The Bureau of Labor Statistics will release September unemployment numbers on Friday, and if the trend from the last several months continues, the unemployment rate will hover just over 9 percent. Amidst concerns over job security and the limitations of state unemployment benefits, Assura Group of New York introduced an insurance product called IncomeAssure to bridge the income gap between workers’ salaries and state unemployment benefits, which often max out well below the worker’s previous salary.