All articles tagged with #yellow bankruptcy
Apollo has decided to abandon its efforts to push Yellow Corporation, a trucking company, into bankruptcy after successfully selling a $500 million loan to a group of investors. The move comes as Apollo seeks to recoup its investment in Yellow, which has been struggling financially due to the impact of the COVID-19 pandemic on the transportation industry.
As the stock market opens on Monday, investors should keep an eye on the momentum of the major U.S. stock indices, which are set to close higher for July. This week brings a busy slate of quarterly earnings reports, including big names like Apple and Amazon. Trucking company Yellow, formerly known as YRC Worldwide, is shutting down and filing for bankruptcy protection due to its failure to restructure over $1 billion in debt. Lawmakers are pushing for a vote on the Credit Card Competition Act to open up payment network options beyond Visa and Mastercard, sparking a fight between retailers and credit card companies. Ukraine President Volodymyr Zelenskyy claims that the war is returning to Russia's territory, while Ukraine's counteroffensive appears to have started slower than expected.