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United States: Eleventh Circuit Finds Moot A Post-Judgment Challenge To A Confirmed Arbitral Award, Even When The Challenge Is Made In A Primary Jurisdiction Under The New York Convention - Cadwalader, Wickersham & Taft LLP

Ingaseosas International Co. v. Aconcagua Investing Ltd. involves an interesting application of the primary vs secondary jurisdiction doctrine under the New York Convention.

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Found more than 1 month ago on channel Mondaq

United States: Hostess Court Dismisses Motion To Reject Expired Collective Bargaining Agreements Under Bankruptcy Code Section 1113 - Cadwalader, Wickersham & Taft LLP

On June 22, 2012, Judge Robert Drain of the United States Bankruptcy Court for the Southern District of New York granted the motion of the Bakery, Confectionary, Tobacco Workers and Grain Millers International Union to dismiss Hostess’s motion to reject certain expired collective bargaining agreements.

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Found more than 1 month ago on channel Mondaq

Stocks Rise for Fourth Day in a Row, Led by Retail

(NEW YORK) — Rite Aid, Ross Stores and other retailers surged Thursday after turning in better sales, and major stock market indexes rose for a fourth day straight. The discount chain Ross Stores jumped 6 percent, the best gain in the Standard & Poor’s 500 index. The company said stronger sales in March will likely push profits above its previous estimate this quarter. The stock jumped $3.56 to $63.80. A surprising drop in claims for unemployment benefits last week gave investors more encouragement. Analysts said it could mean a slowdown in hiring last month may have been temporary. “The numbers today make it seem like that March report was an anomaly,” said David Heidl, a regional investment manager at U.S. Bank’s wealth management unit. “It’s another reason for optimism.” (MORE: How ‘Made in the USA’ is Making a Comeback) The Dow Jones industrial average gained 62.90 points to close at 14,865.14, an increase of 0.4 percent. The Standard & Poor’s 500 index rose 5.64 ...

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Found 1 month ago on channel TIME Moneyland

Exclusive: Apax, Morgan Stanley look to sell Hub - sources

NEW YORK - Buyout firm Apax Partners and Morgan Stanley's private equity arm are exploring a sale of Chicago-based insurance brokerage Hub International that could be valued at around $2 billion, two people familiar with the matter said this week.

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Found 1 month ago on channel Reuters

Cold March Keeps Shoppers’ Spending Tepid

NEW YORK — So much for new spring shorts and T-shirts. As cold weather lingered across most of the country, Americans shopped modestly in March. U.S. retailers reported a key revenue figure rose slightly during the month, as shoppers held back on spending because of the cold weather across the nation, particularly the Midwest and East Coast, and continued fears about the economy. Economists monitor consumer spending because it accounts for more than 70 percent of economic activity. According to a preliminary tally of 15 retailers by the International Council of Shopping Centers, revenue in stores open at least a year rose 1.6 percent, or 2.5 percent excluding drugstores. That was below expectations, said Michael Niemira, chief economist at the ICSC. Weather was a factor, with March being the coldest in seven years. The comparison with last March was especially tough. Last year saw the warmest March on record, according to weather research firm Planalytics Inc. “Wintry weather conditions ...

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Found 1 month ago on channel TIME Moneyland