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Detroit Unions File Challenge To City's Bankruptcy Petition

Detroit's unions filed a challenge to the city's historic bankruptcy filing, contending that the city has not met key requirements to seek protection from its creditors. The Americ... More Detroit's unions filed a challenge to the city's historic bankruptcy filing, contending that the city has not met key requirements to seek protection from its creditors. The American Federation of State, County and Municipal Employees Council 25 and other unions said Detroit has not proven it is insolvent and has not negotiated in good faith with its creditors. I A U.S. banking regulator's probe into JPMorgan's hiring practices in China will have rival banks scrambling to review their own records, lawyers say. Banks around the world commonly hire people with government connections, but this is especially prevalent in China because of the Communist Party's role in the country's business. Ties to political and business leaders can be key to winning big deals. Less

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