Nine West Declares Bankruptcy, Sells Eponymous Brand
In addition to being overleveraged, Nine West faced quality issues and a lack of fashion-forward products in its footwear and handbag product lines.
Fitch Downgrades Japan’s Debt Due to Fiscal Doubts
Fitch attributed its downgrade in part to “the absence of broadly equivalent fiscal measures" to replace a delayed sales tax increase.
Earnings Mixed for Large Banks in Q4
A drop in capital markets earnings and heavy costs from defending lawsuits were a drag on universal bank earnings last quarter.
Saving the Ruble Could Mean Bankrupting Companies
A 17% interest rate may stabilize the ruble, but a Russian banking official says it has to be cut to forestall business bankruptcies.
Leveraged Lending Pullback Tied to Regulatory Scrutiny
Large U.S. banks may be heeding the warnings of regulators and staying away from highly leveraged deals.
Corporate Cash Growth Slows to 1%
The rate of growth in nonfinancial companies' cash balances is finally slowing, according to numbers from Moody's.
U.S. Corporate Cash Holdings Drop 5%
Industrial companies are no longer growing their cash reserves, instead deploying it to reward shareholders and invest in capital goods.
SEC Spells Out How Rating Agencies Must Reveal Conflicts of Interest
New rule requires rating agencies to promptly gauge whether a company's current rating must be revised to eliminate a conflict of interest.
SEC to Clamp Down on Credit-Ratings Agencies
Credit-ratings agencies are bracing for new regulations that will tackle problems with the "issuer pays" model and a lack of disclosures to investors.