Here's what we are reading this morning:
Ukraine’s State Energy Firm Nears Default After Failure to Pay Bondholders - WSJ: Naftogaz said it was near default after the government rejected its request to make payments to Western lenders.
Changes to Shopify’s team: Shopify to go through a reduction in workforce that will see about 10% leave by the end of the day. Most of the impacted roles are in recruiting, support, and sales.
3M Subsidiary Aearo Technologies Files for Bankruptcy: Aearo Technologies and related entities, all of which are wholly-owned 3M subsidiaries, have voluntarily initiated chapter 11 proceedings seeking court supervision to help establish a trust – funded by 3M – to efficiently resolve all claims determined to be entitled to compensation.
Dallas Nursing Home Says It Won't Indemnify Committee Pros - Law360: The operator of Dallas' Edgemere retirement community has asked a Texas bankruptcy judge to reject a request by the unsecured creditors committee in its Chapter 11 case that it indemnify the committee's proposed financial adviser.
Homebuilders boost incentives as they suddenly struggle to sell homes: The nation's homebuilders are now experiencing a slowdown in sales and an increase in supply.