A bankruptcy judge in the US has been asked by IBRC to approve the sale of loans with nominal balances totalling more than $19bn (€13.75bn).

American ground beef processor AFA Foods has sought bankruptcy court protection with a plan to sell some assets in the US after media coverage of “pink slime” cut demand for its products.

CITIGROUP fourth-quarter profit fell 11% and missed Wall Street estimates as the European debt crisis battered capital markets, hurting trading revenue and discouraging clients from doing deals.

Delaware: DuPont chief executive Ellen Kullman, who cut 4,500 jobs and 10,000 contractors during the recession, said she will keep her workforce lean and stockpiles low in case the recovery falters.

Hundreds of works from the art collection of failed US banking giant Lehman Brothers will go under the hammer at Freeman’s auction house in Philadelphia.

BARACK OBAMA began a historic election day by voting alongside his wife and children.

The father of a US contractor believed to have been beheaded in Iraq by Abu Musab al-Zarqawi said today he does not see any good coming from al-Zarqawi’s killing.

Michael Jackson was greeted at court by cheering fans today as prosecutors prepared to introduce evidence of alleged past improper behaviour with young boys.

Rap mogul Sean 'P Diddy' Combs and his Sean John fashion line have been slapped with a lawsuit by clothing company Ellesse USA, in a battle over a logo.

Sweden’s Annika Sorenstam collected her seventh major title when she staged a successful defence of the LPGA Championship at DuPont Country Club in Wilmington, Delaware.

Lycra-maker DuPont is to cut 3,500 jobs across the world as part of a major cost-cutting drive, it announced today.

An adviser to Daily Telegraph owner Hollinger International testified in the US that Conrad Black, the company’s founder, threatened members of a special committee investigating suspect payments he received.

Lawyers for UK newspaper Daily Telegraph owner Hollinger International began laying out the case against controlling shareholder Conrad Black, saying he took several payments without authorisation.

Napster Inc. filed for bankruptcy today, seeking court protection from creditors as music industry heavyweight Bertelsmann AG followed through on a plan to take over what was left of the company.

A US judge has cleared Hewlett-Packard of allegations that the company acted improperly over the Compaq Computer Corporation acquisition, probably paving the way for the completion of the high-tech industry’s biggest merger.