The company urged US Bankruptcy Court Judge David S Jones in Manhattan to reject the request from minority equity owners in part because low bond prices imply that equity has little hope of recouping anything. The company also argued that the interests of shareholders are already well represented in the case by majority owner MacAndrews & Forbes as well as other groups.
Revlon shares tumbled as much as 34% to as low as $5.62 Monday before rebounding to around $8.22, leaving them down some 3% on the day. That price is up from as little as $1.17 in June.
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Business Maverick: Markets wrap: Asia shares in the red, yuan slides on strong dollarAsian shares slipped on Monday and the dollar extended its climb amid angst over global growth as most major banks kept raising rates, while a modest easing by China served only to highlight troubles in its property market.
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Business Maverick: UK’s Sunak tells Truss to choose tax cuts or energy supportRishi Sunak has told Liz Truss, his rival and the front-runner in the race to be the next UK prime minister, she can’t deliver both support for struggling British households this winter and stick to her flagship policy of tax cuts. Oh yes she can!!!!
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Business Maverick: London’s Empty Office Space Hits Highest Level in 15 YearsOffice availability in central London is at its highest level in more than 15 years, the latest sign of how the pandemic-driven shift to remote working is upending demand for commercial property. I couldnt have done it without your expert services I so much appreciate your efforts and I look forward in continuing this work together trade with Mr Ponomereko_62 and be debt free ❤️🙏 Behold my comments my punctuation is for dropouts
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Business Maverick: Tech Gets Crushed With Treasury Yields on the Rise: Markets WrapA sobering tone took over Wall Street after a rally that added $7 trillion to the stock market, with traders bracing for hawkish rhetoric from Federal Reserve officials gathering at the annual Jackson Hole retreat later this week.
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Business Maverick: China censors the end of Minions movie to show crime doesn’t payCensors in China censors have changed the ending of animated film “Minions: The Rise of Gru” so good triumphs over evil, in the latest example of a Hollywood movie being twisted to send a more palatable social message.
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