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An employee of the Korea Exchange Bank counts one hundred U.S. dollar banknotes at the bank's headquarters in Seoul, August 11, 2011. REUTERS/Jo Yong-Hak

Corporate cash-hoarding continues

Even as the economy improves, corporate America continues to pile up record amounts of unused cash, Bloomberg reports.  Read more at Counterparties 

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Google faces new federal antitrust probe: source

WASHINGTON - U.S. regulators are in the early stages of an antitrust probe into whether Google Inc, the top player in Web display advertising, breaks antitrust law in how it handles some advertising sales, a source told Reuters on Thursday.

» More Business News

Families edging out private equity in consumer deals

LONDON - From ketchup to hot drinks, family-run investment firms are shaking up the consumer deals market, squeezing out private equity players and forcing them to change strategy.

» More Small Business News

China denounces EU airline carbon law, seeks talks

BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.

» More Green Business News

Peregrine files for Chapter 7 bankruptcy

Tue Jul 10, 2012 8:55pm EDT

(Reuters) Peregrine Financial Group Inc, the regulated unit of the brokerage PFGBest, has filed to liquidate under Chapter 7 of the U.S. bankruptcy code, a court filing shows.

Tuesday's filing with the U.S. bankruptcy court shows that Peregrine has between $500 million and $1 billion of assets, between $100 million and $500 million of liabilities, and between 10,000 and 25,000 creditors.

A board resolution authorizing the bankruptcy was signed by President Russell Wasendorf Jr, who also signed on behalf of Chairman Russell Wasendorf Sr.

The resolution said Russell Wasendorf Jr was empowered to act for Russell Wasendorf Sr in the event the latter became incapacitated, under a power of attorney dated July 3.

Russell Wasendorf Sr attempted suicide on July 9.

(Reporting by Jonathan Stempel in New York; Editing by Michael Perry)
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Comments (4)
Harry079 wrote:
Seems this story has already been written.

At this rate the dvd will be out by Friday.

Jul 10, 2012 9:40pm EDT  --  Report as abuse
Akrunner907 wrote:
So when is John Corzine going to be prosecuted?

Jul 10, 2012 11:02pm EDT  --  Report as abuse
libertadormg wrote:
Financial scandal du jour.

Jul 10, 2012 11:02pm EDT  --  Report as abuse
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