Texas hospitals hit hard by bankruptcies, closures: Hospital bankruptcies and closures have spiked in 2023 across the U.S., particularly in Texas.
Restoration Forest Products Group Files Chapter 11 Bankruptcy: Co. says it received $95m in additional financing from funds managed by Invesco Senior Secured Management Inc., according to separate statement
UPS is cutting 12,000 jobs | CNN Business: The job cuts come as UPS issued a disappointing sales outlook for this year
JetBlue swings to a loss, forecasts lower capacity in 2024: JetBlue said it expects to have as many as 15 Airbus planes out of service due to Pratt & Whitney engine inspections
The Real-Estate Downturn Comes for America’s Premier Office Towers - WSJ: Rents at the highest-end buildings have been falling, while the rate of leasing has been slowing.
Barry Sternlicht Sees $1 Trillion Loss for Office Real Estate - Bloomberg: Billionaire Barry Sternlicht sees more than $1 trillion of losses for office real estate, calling the properties “one asset class that never recovered” from the pandemic.
Dish Network Scraps Swap Deal to Push Out Debt Maturity - WSJ: The EchoStar subsidiary ended an offer to swap billions of dollars in unsecured notes for longer-dated secured debt
PayPal to Cut Around 2,500 Jobs as Rivals Snag Market Share - Bloomberg: PayPal Holdings Inc. will reduce its workforce by about 9% as Chief Executive Officer Alex Chriss, who took over in September, grapples with rising competition, profit pressures and a raft of analyst downgrades.
Do Kwon's Terraform Labs Says It Could Be Ruined by SEC Fine: The firm founded by jailed crypto entrepreneur Do Kwon is seeking the protection of chapter 11 bankruptcy to shield it from a potentially ruinous fine from the Securities and Exchange Commission.
Front Office Sports, Minute Media mulling bids for Sports Illustrated's rights: In addition to the Arena Group, both Front Office Sports and Minute Media could bid for Sports Illustrated's publishing rights.
