About 1,000 white-collar employees with jobs on the block at US Airways Group Inc. and American Airlines got a temporary reprieve when the U.S. government sued to block the carriers’ planned $14 billion merger.
Overseas Shipholding Group Inc. is running out of cash and must renegotiate a loan agreement as an industrywide slowdown and rejection of a federal debt guarantee impedes profitability, challenging the company’s ability to pay its obligations and pay for new vessel deliveries next year.
Blackstone Group LP is offering the highest interest seen on a loan this year if lenders agree to swap debt in Travelport Ltd. for longer-dated obligations, or else it may put the parent of the second-largest travel- reservation system provider into bankruptcy.
A former General Motors Co. engineer and her husband should be convicted of stealing the automaker’s trade secrets related to hybrid-car technology to help develop such vehicles in China, a U.S. prosecutor said at the end of their trial.
The National Labor Relations Board, which mediates disputes between management and workers, must be pulled back from a pro-union agenda that is harming businesses, labor lawyers told a U.S. House hearing.
AMR Corp. bonds signal its American Airlines unit will retire older jets in bankruptcy, punishing investors in debt backed by the planes while those secured by newer aircraft indicate lenders will be paid in full.
Labor-relations consultant Phillip Wilson has had a busy month, flying from Arizona to Virginia holding seminars and conducting online workshops to get employers ready for what he says is one of the biggest changes in labor law in decades.