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NEW YORK, July 20 (UPI) -- New York-based financial services firm JP Morgan Tuesday gave Delta Air Lines a 50-50 chance of bankruptcy, Cincinnati's Business Courier said.
JP Morgan analyst Jamie Baker downgraded Atlanta-based Delta's rating from "neutral" to "overweight," and said Delta has a 50-50 chance of declaring bankruptcy. Baker had said previously that Delta had a 25 percent chance of going bankrupt.
Delta is currently negotiating with its pilots' union for pay cuts worth at least $850 million, the Business Courier said.
Baker said if the airline files for bankruptcy, the stock could fall near $1. Delta stocks closed Tuesday at $5.40 per share on the New York Stock Exchange, down more than 9 percent from Monday.
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ASUNCION, Paraguay, May 22 (UPI) --
Land-locked Paraguay is hoping the latest investor seeking oil in its promising western region will have better results than previous prospectors.
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WASHINGTON, May 22 (UPI) --
A U.S. Senate committee report has revived controversy over alleged counterfeit Chinese electronic components entering U.S.-made defense equipment and weapons.
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Like housing markets overall, the market for luxury homes is growing tighter as the spring buying progresses. Though still a buyer's market, the ILHM Luxury Housing Report for last week shows a pattern of rising prices and fewer days on market since...
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What if Europe turned out to be the new Japan?
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