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A group of distressed debt funds including JPMorgan Securities (NYSE:JPM) that hold about $600 million worth of bonds in bankrupt carrier AMR (AAMRQ.PK) may invest $1 billion to $2 billion in its equity. If talks succeed, AMR could use the funds to exit bankruptcy proceedings and give it leverage in negotiating a merger with US Airways (NYSE:LCC).
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Admitting innovation in the U.S.markets could have been better, a factor that caused its beer volumes to decline for three consecutive years, brewer Heineken (HINKY.PK) is making amends by launching two new beers, Amstel Wheat and Tecate Michelada in certain local markets.
A judicial ruling that bars Martha Stewart Living Omnimedia from placing its products in J.C. Penney (NYSE:JCP) stores is welcomed by the latter, who says the decision would render Macy’s lawsuit unnecessary.
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