bankruptcy

(Newser) - Four gold-plated investment banks have been ordered to stand trial for alleged market manipulation for their roles in advising Italian dairy giant Parmalat, which declared bankruptcy in 2003. Italian prosecutors say Morgan Stanley, Deutsche Bank, UBS, and Citigroup allowed Parmalat to manipulate its finances, helping it to defraud investors even...

(Newser) - Delta has emerged from bankruptcy, riding an aggressive restructuring plan to exit Chapter 11 a year ahead of schedule. The No. 3 domestic airline, which staved off a hostile takeover bid from US Airways this year, used court-enforced protections to secure cuts to wages and pension programs as it shored...