Guam Catholic Church enters bankruptcy amid sex abuse claims

California utility company PG&E soared in late trading after Bank of America said fees about the company's link to wildfires are overdone and default worries are overstated. Moody's though, has cut PG&E to BAA3 and says the stock may be downgraded to junk.

The governing body is being sued by hundreds of women who were sexually abused by Larry Nassar, a former team doctor. The filing could complicate efforts by the victims to recover damages.

Guam's Archdiocese of Agana has joined 20 other dioceses and religious orders in the US in filing for bankruptcy protection because of civil litigation alleging decades of clergy abuse of children. The cases are ongoing.

Buhari writes Senate, rejects Bankruptcy and Insolvency Bill.

The organization has been accused of covering up decades of sexual abuse thought to have affected thousands. The bankruptcy filing would allow Boy Scouts of America to bring all of the abuse lawsuits into one court.

Argentina's government is trying to negotiate a restructuring of debt with creditors as the country's finances dwindle. Officials have presented creditors with a vastly grimmer economic prognosis than they did in April.

The coronavirus pandemic has eroded business for hairdressers across Germany. Now, the Klier Hair Group says it will need to close shops and lay off workers if it is to survive.

A corruption lawsuit against the gun-lovers' lobby has pushed the NRA to declare bankruptcy. The group says the move will ensure "sustainable" growth.

A Texas court has rejected the NRA's bankruptcy case, calling it an attempt to avoid prosecution on fraud charges. The ruling judge said the NRA filing was made to gain "unfair advantage" in litigation.

Chinese real estate giant Evergrande, saddled with around $300 billion in debt, has been struggling to meet interest payments on its loans. If it collapses, some of its partner firms could be driven to bankruptcy, prospective homebuyers could lose deposits and some banks would lend less money, which would lead to a credit crunch in the world's second-biggest economy. Property developers in China have in fact created an oversupply: there is enough empty property in the country to house more than 90 million people. FRANCE 24's team reports.

Sri Lanka's ongoing economic meltdown is getting worse day by day. It's the worst financial crisis this island nation of 22 million people has faced since its independence seven decades ago. The country's foreign reserves have been dangerously low in recent months, and experts fear the country is on the verge of default.

German tennis legend Boris Becker has been sentenced to two and a half years in prison in his bankruptcy case in London. He can still appeal the sentence.