Latest U.S. Treasury Stories
WASHINGTON, Jan. 9, 2013 /PRNewswire-USNewswire/ -- Financial Service Centers of America (FiSCA) today harshly criticized U.S. Treasury for yesterday's announcement asserting that all recipients of federal government benefits must select a form of electronic means of payment (either direct deposit or debit card) for their benefits by March 1, 2013, or be in violation of Federal law. This position is inconsistent with testimony offered to Congress last fall which clearly...
HARTFORD, Conn., Dec. 6, 2012 /PRNewswire/ -- United Technologies Corp. (NYSE:UTX) (the "Company," "us" or "UTC") today announced it has commenced cash tender offers (the "Offers") for six series of outstanding notes issued by the Goodrich Corporation, which was acquired by UTC earlier this year and is now a wholly-owned subsidiary of UTC. With this offer, UTC expects to pay down a portion of the long-term debt issued by Goodrich Corporation. UTC does not guarantee the notes, and...
DETROIT, Nov. 21, 2012 /PRNewswire/ -- Final sale transaction toward strategic plans to repay U.S. Treasury Company focused on further strengthening the U.S. auto finance and direct banking franchises Ally Financial Inc. (Ally) today announced that it has reached an agreement to sell its operations in Europe and Latin America, as well as its share in a joint venture in China, to General Motors Financial Company, Inc. (GM Financial), a wholly-owned subsidiary of General Motors Co....
NORFOLK, Va., Aug. 2, 2012 /PRNewswire/ -- Norfolk Southern Corporation (the "Company") announced today the commencement of offers to certain eligible holders (together, the "Exchange Offers") of the Company's outstanding debt securities listed in the table below (together, the "Existing Notes") to exchange Existing Notes for consideration consisting of cash and up to $600,000,000 aggregate principal amount of the Company's new Notes due 2023 (the "New Notes"), in the proportions set...
NEW YORK, July 25, 2012 /PRNewswire-USNewswire/ -- Shurat HaDin - Israel Law Center, the organization that built its reputation on hard-fought legal battles and victories against terror sponsors, today sent a letter to worldwide mobile satellite company Inmarsat PLC, warning it against providing prohibited guidance services to Iranian oil tankers and Iranian military vessels. The warning letter stressed that Inmarsat's actions would expose the telecommunications giant to criminal...
SCHAFFHAUSEN, Switzerland, June 27, 2012 /PRNewswire/ -- Tyco International Ltd. ("Tyco") (NYSE:TYC) today announced that, in connection with its planned spin-off of its wholly-owned subsidiary, The ADT Corporation, Tyco and its subsidiary, Tyco International Finance S.A. ("TIFSA"), have commenced tender offers to purchase for cash the respective debt securities issued by TIFSA or Tyco, as the case may be, listed in the table below, in an aggregate principal amount of up to...
DETROIT, May 14, 2012 /PRNewswire/ -- ResCap mortgage subsidiaries file Chapter 11 Company launches process to explore strategic alternatives for its international businesses No impact on Ally's leading U.S. auto finance and direct banking businesses Strengthens Ally's financial position going forward and accelerates ability to repay the U.S. Treasury Ally Financial Inc. (Ally) today announced key strategic actions aimed at strengthening the company's longer term financial...
Bipartisan Senate Support for Obama Administration Policy on Argentine Debt Repayment WASHINGTON, Jan. 9, 2012 /PRNewswire-USNewswire/ -- Following the Obama Administration's announcement that it would oppose new loans to Argentina, American Task Force Argentina (ATFA) today applauded Senators Marco Rubio (R-FL), Kirsten Gillibrand (D-NY) and Robert Menendez (D-NJ) for urging the U.S. Treasury to "formally adopt the policy of withholding approval of a Paris Club deal for...
FORT LEE, N.J., July 30, 2011 /PRNewswire/ -- The National Inflation Association - http://inflation.us - today released the following debt ceiling report to its NIA members: NIA hasn't written about the whole debt ceiling issue over the past few weeks because in our minds it is completely irrelevant. Our elected representatives in Washington along with the mainstream media have been wasting thousands of hours of time and hundreds of millions of dollars debating a topic that has no meaning...
AUBURN HILLS, Mich., July 26, 2011 /PRNewswire/ -- Net Revenues in Q2 2011 were $13.7 billion, up 30 percent from $10.5 billion in Q2 2010Net Loss reported for Q2 2011 totaled $370 million compared to a Net Loss of $172 million in Q2 2010; excluding a non-recurring $551 million charge on the extinguishment of debt, Adjusted Net Income(a) in Q2 2011 totaled $181 millionModified Operating Profit(b) increased to $507 million in Q2 2011 (3.7 percent of Net Revenues), from $183 million in Q2...
