Turkish Bonds Erase 2025 Loss After Court Delay Spurs Rally
Two-year yields currently stand at 39.76%, having dropped about 200 basis points so far this week, after the court delayed its ruling on a case that could unseat Ozgur Ozel. That's taken borrowing costs back to levels seen just before the March arrest of Istanbul mayor Ekrem Imamoglu triggered a wave of nationwide protests and fueled a selloff in Turkish assets.
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Business Wire
38 minutes ago
- Business Wire
Design Group Americas Voluntarily Files for Chapter 11 Protection, Initiates Sale Process Aimed at Maximizing Value Through Going Concern Transactions
BERWICK, Pa.--(BUSINESS WIRE)--IG Design Group Americas, Inc. and its domestic subsidiaries (collectively, 'DGA' or the 'Company'), a design, manufacturing, sourcing, and distribution company of branded and private label consumer products, announced today that it has voluntarily filed for chapter 11 relief in the United States Bankruptcy Court for the Southern District of Texas (the 'Court') to facilitate a court-supervised marketing and sale process pursuant to section 363 of the Bankruptcy Code. The Company intends to pursue a value maximization strategy by engaging with buyers who are interested in purchasing certain of the Company's business segments as a going concern, while concurrently winding down its domestically manufactured woven ribbon products business and supporting assets. DGA includes over 50 product categories and brands, some of which were established over a century ago. Like many companies in the consumer products sector, DGA has been navigating a challenging operating landscape for several years, compounded by the loss of a major customer, who entered liquidation and significantly impacted DGA's revenue as well as new trade tariffs imposed in 2025 that increased operational costs, affected pricing strategies, and contributed to reduced customer orders. The Company's decision to pursue an in-court process was driven by liquidity constraints, substantial working capital requirements, and the seasonal nature of significant portions of its business. 'Following DGA's sale to an affiliate of Hilco Capital Group, we have worked diligently with our advisors to evaluate the optimal path forward for the business,' said Sue Buchta, Chief Executive Officer of DGA. 'We enter the court-supervised sale process in dialogue with multiple interested parties for certain of our business segments as a going concern and intend to leverage chapter 11 to maximize the value of our assets. We thank our employees, customers, and partners for their support and will work diligently to minimize any potential impact during the process.' Additional Information about the Court-Supervised Process DGA has secured an agreement for approximately $53 million in committed debtor-in-possession ('DIP') financing from an affiliate of Hilco to support its value maximizing strategy throughout its Chapter 11 cases, subject to Court approval. Additionally, to uphold its commitments to its stakeholders, DGA has filed several customary 'first day' motions. These motions, upon approval by the Court, will provide authorization for the continued payment of employee wages and benefits arising under programs that were in effect as of the petition date, the maintenance of certain customer programs, payments to certain critical vendors for prepetition amounts owed, payment to vendors for amounts owed on post-petition goods and services delivered to the Company, and other relief measures standard in these circumstances. DGA's non-U.S. affiliates are not part of the chapter 11 cases and will continue to operate while the Company considers the impact of asset sales and the optimal plan to maximize the value of the interests it holds in those subsidiaries. Additional information is available at Stakeholders with questions may call the Company's claims agent Kroll, toll-free at (877) 307-2977 (U.S. and Canada) or (646) 290-6127 (International), or email at dgateam@ Advisors Latham & Watkins LLP is serving as legal counsel, Huron Consulting Group LLC is serving as financial advisor and investment banker, and C Street Advisory Group is serving as strategic communications advisor to DGA. About DGA Design Group Americas (DGA) is a diverse group of companies operating across multiple regions, categories, seasons, and brands. The company employs over 1,400 people and works with customers in the US and around the world, with offices and operations in the United States, UK, Australia and Asia. DGA products are found in over 100,000 retail outlets internationally, with products reaching millions of consumers of all ages. Design Group Americas creates, designs, and manufactures products that help the world celebrate life's special occasions. They are proud to serve the best retailers around the globe with a complete end-to-end service from design to distribution. Design Group America's products are found within six core categories: Gift packaging: DGA is one of the world's largest producer of celebrations products, including gift wrap, gift bags, ribbons & bows Party: Party-ware, balloons and accessories Ribbon: Craft, décor, ribbon for branded or floral business Craft: Craft and creative play products that empower consumers of all ages to express themselves, learn new skills, as well as create individual looks, unique gifts and keepsake items Stationery: Wide range of stationery products for consumers of all ages, for use in education, commercial, and home settings including both standard and fashion ranges Homeware/Décor: Seasonal and everyday décor such as florals, holiday signs, tabletop décor and ornaments
Fox News
2 hours ago
- Fox News
Accused Minnesota lawmaker slayer asks for special accommodations during court appearance
The man accused of shooting two Minnesota lawmakers and their spouses last month made a court appearance on Thursday, where he asked for special accommodations at the jail he is being housed at during legal proceedings. Vance Luther Boelter, 57, asked to be placed in a cell where the lights are not on 24 hours a day. He also asked for a pencil so he could take notes. It's unclear if both of his requests would be granted, but the judge said it would be taken care of by the jail. Boelter is accused of dressing as a police officer and shooting state Sen. John Hoffman and his wife, Yvette, at about 2 a.m. on June 14 at their home in Champlin before fatally shooting former Minnesota House Speaker Melissa Hortman and her husband, Mark, in Brooklyn Park, at 3:30 a.m. Boelter also allegedly drove an SUV with flashing emergency lights and a license plate that read "police." Boelter appeared in court on Thursday wearing a yellow Sherburne County Jail top and bottom with orange jail-issued slippers and carrying a manila envelope. His public defender said the prosecution agreed to give her some discovery, and they agreed to move forward with the planned detention hearing. Boelter waived his right to preliminary and detention hearings, and when asked if he was aware that he was waiving the federal preliminary hearing, he said, "I'm looking forward to court and looking for the facts of what happened on the 14th to come out for you and the public…" The next court date has not yet been determined, as the case must go to a grand jury for an indictment. The grand jury has 30 days from Boelter's arrest date of June 15 to file an indictment. Boelter, 57, is charged with two counts of stalking, two counts of murder and two counts of firearm-related crimes in federal court. He is also facing second-degree murder charges on the state level. U.S. Attorney Joseph H. Thompson has said that Boelter's primary motive was "to go out and murder people" as authorities announced the suspect's capture after a two-day manhunt.
The Hill
3 hours ago
- The Hill
Supreme Court enables Trump to resume South Sudan deportation flight
The Supreme Court in an apparent 7-2 decision Thursday ruled the Trump administration can restart plans to deport a group of convicted criminals to the war-torn country of South Sudan who have no ties there. Last month, the high court lifted U.S. District Judge Brian Murphy's injunction that limited the administration from deporting migrants to third countries without giving them sufficient opportunity to raise torture claims. Murphy continued to insist that his subsequent ruling, which found the May South Sudan flight violated the injunction, was still in 'full force.' The administration contended it amounted to open defiance of the justices and asked them to again rebuke the judge. 'The May 21 remedial order cannot now be used to enforce an injunction that our stay rendered unenforceable,' the Supreme Court's unsigned ruling reads, confirming all of Murphy's rulings are void. Justice Sonia Sotomayor, joined by Justice Ketanji Brown Jackson, dissented. They rejected the notion that Murphy was at fault, instead pinning the blame on the administration and their colleagues. 'The Court's continued refusal to justify its extraordinary decisions in this case, even as it faults lower courts for failing properly to divine their import, is indefensible,' Sotomayor wrote. She added that the ruling 'clarifies only one thing: Other litigants must follow the rules, but the administration has the Supreme Court on speed dial.' Justice Elena Kagan, the court's third Democratic-appointed justice, said she agreed with the administration this time despite continuing to believe they should've lost before. 'But a majority of this Court saw things differently, and I do not see how a district court can compel compliance with an order that this Court has stayed,' Kagan wrote. Federal authorities have kept custody over the group of eight migrants, who have serious criminal records, on a military base in Djibouti ever since Murphy intervened in May. Though the litigation will continue in the lower courts, Thursday's ruling means that no court injunction is currently blocking the administration from again trying to move the migrants to South Sudan.
