Tag Archives: collapse

Germany coalition: Talks collapse as FDP pulls out

Talks on forming a coalition government in Germany have collapsed after the free-market liberal FDP pulled out. FDP leader Christian Lindner said there was no “basis of trust” with Chancellor Angela Merkel’s conservative CDU/CSU bloc and the Greens. What happens next is unclear, but Mrs Merkel is due to meet President Frank-Walter Steinmeier, who has the power to call snap elections. Her bloc won September’s poll, but many voters deserted the mainstream parties. After winning its first parliamentary seats, the far-right nationalist AfD (Alternative for Germany) vowed to fight “an ...

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Sprint stock tanks as T-Mobile merger said to collapse

Meet ‘crazy’ tech tycoon Masayoshi Son Déjà vu. Shares of Sprint(S) and T-Mobile(TMUS) tumbled in midday trading Monday after reports that their widely rumored merger talks may be ending. It would mark yet another high-profile failure to combine the two carriers. SoftBank(SFTBF), a Japanese conglomerate with a majority stake in Sprint, is said to be calling off the negotiations due to concerns about the ownership structure of the combined business, according to reports from Nikkei and The Wall Street Journal. Reps for T-Mobile, Sprint and SoftBank did not immediately respond ...

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A collapse in 12 acts: The endless drama of the Chicago Bulls

9:00 AM ET Derrick Rose is at the center of the basketball universe. It’s a few days before Christmas in 2011, and the shy, 23-year-old point guard finds himself in the middle of a suburban Chicago shopping mall as throngs of fans scream for his attention. A few hours earlier, the Chicago Bulls formally announced that they have signed the reigning MVP to a max extension worth close to $ 100 million. The future was bright for one of the NBA’s most prominent franchises. “I’m tremendously blessed, and I don’t ...

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Dominic Chappell to be prosecuted over BHS collapse

The Pensions Regulator is to prosecute Dominic Chappell, the former boss of retail chain BHS. He is charged with failing to provide information and documents the regulator requested during its investigation into the sale of BHS. Chappell’s Retail Acquisitions (RAL) bought BHS for just £1 in 2015 from billionaire retailer Sir Philip Green. The collapse of BHS led to the loss of 11,000 jobs and a pension deficit of £571m. RAL was put into liquidation earlier this year. Mr Chappell has been summonsed to appear at Brighton Magistrates’ Court on ...

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Why a Pennsylvania insurer's collapse could whack Californians in the wallet

How Trump can upend Obamacare without Congress Among all the reasons for rising health insurance premiums, this one might be the most obscure: A long-term care insurer in Pennsylvania just went belly-up. Health insurers across the country are on the hook for hundreds of millions of dollars in losses stemming from the insolvency of Penn Treaty American Corp., of Allentown, Pa., and its two subsidiaries. Insurance company failures are rare, but when they do happen surviving companies are responsible to help pay off the company’s claims and protect policyholders through ...

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Health care collapse; Earnings abound; Netflix and thrill

Click chart for in-depth premarket data. 1. Health care failure: Investors are not very impressed with news coming out of Washington. President Trump’s effort to repeal and replace Obamacare came to a screeching halt Monday night after Senators Mike Lee of Utah and Jerry Moran of Kansas vowed to vote against the latest draft of the health care bill. The dollar index — which compares the greenback to its global peers — declined to its lowest level since September. Investors are worried about the Trump administration’s ability to follow through ...

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South Korea Samsung Heavy shipyard halts work after crane collapse

South Korea’s Samsung Heavy Industries Co Ltd said on Tuesday all production has been halted in its Geoje shipyard due to an order from local authorities after a fatal crane collapse. Five people died and about 20 were injured when the crane collapsed on Monday at the shipyard during construction of an oil platform for French energy company Total, the two companies said. Samsung Heavy said in a filing the halt could affect ongoing construction of vessels and offshore structures and that work would resume after local authorities approve safety ...

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Thorpeness cliff collapse kills man

A man has died after part of a cliff collapsed on to a beach in Suffolk. Emergency crews were called to Thorpeness Beach at about 13:25 GMT after reports a man was trapped under a landslide. A search operation was launched to try to find – and then free – the man, thought to be in his late-50s, but he died at the scene. An elderly woman also suffered minor injuries but was not taken to hospital, ambulance officials said. Police, fire, ambulance and coastguard crews all took part in ...

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The Fed decides; Techies meet Trump; Pharma deal collapse

Click chart for in-depth premarket data. 1. Preparing for a rate hike: The U.S. Federal Reserve is widely expected to raise interest rates on Wednesday. The last time the Fed hiked rates was December 2015. Let’s block ads! (Why?) Latest financial news – CNNMoney.com

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'Scores dead' in Nigerian church collapse

A church roof has collapsed in Uyo, Nigeria, killing at least 60 people attending the ordination of a bishop, reports say. Hundreds of people were inside the Reigners Bible Church including the governor of Akwa Ibom state, Udom Emmanuel, when the roof collapsed, Nigerian media report. Mr Emmanuel was rushed to safety by his security guards. Pictures from the scene show collapsed metal girders and corrugated iron. Let’s block ads! (Why?) BBC News – Home

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