Posts From King World News

Chicago faces $2.2 billion bank payout after rating cut to junk

Chicago may have to pay banks as much as $2.2 billion after Moody’s Investors Service dropped its credit rating to junk, deepening the fiscal crisis in the third-largest U.S. city. The company’s decision Tuesday to cut Chicago’s $8.1 billion of general obligations two ranks to Ba1, one step below investment grade, allows banks to demand that the city repay debt early and exposes it to fees to end swaps contracts,

Chicago faces $2.2 billion bank payout after rating cut to junk

Chicago may have to pay banks as much as $2.2 billion after Moody’s Investors Service dropped its credit rating to junk, deepening the fiscal crisis in the third-largest U.S. city. The company’s decision Tuesday to cut Chicago’s $8.1 billion of general obligations two ranks to Ba1, one step below investment grade, allows banks to demand that the city repay debt early and exposes it to fees to end swaps contracts,

Danaher to buy Pall Corp in $13.8 billion deal, split into two

Danaher Corp will buy air and water-filter maker Pall Corp in a $13.8 billion deal to tap into fast-growing demand from the biotechnology industry, and said it would split into two listed companies after the deal. The $20-billion filtration market is expected to grow due to strong demand for advanced purification systems as biotechnology companies launch more biologics, drugs made from living cells. “That means an increase in production and

NFLPA to use noted labor lawyer Kessler in appeal (Yahoo Sports)

Noted labor attorney Jeffrey Kessler will aid in the players’ union’s planned appeal of Tom Brady’s suspension. The New England Patriots quarterback was suspended by the NFL for the first four games of the 2015 season for his role in the deflating of footballs. He was instrumental in getting NFL free agency established and had a key role in helping end the league’s lockout of the players in 2011. Along