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Kodak Headquarters, Rochester, NY

Eastman Kodak moves towards bankruptcy, hires Jones Day.

Eastman Kodak Co’s move to hire law firm Jones Day triggers a speculative wave in the stock market that photography giant might look at the option of filing for bankruptcy, leading to a huge plunge in Kodak’s share prices.

President Obama said he hoped the downgrade would give Washington a renewed sense of urgency in tackling deficits

Dow Responds to U.S Downgrade By Plunging Over 600 Points

In response to Standard & Poor’s first-ever downgrade on the outlook for the U.S economy from a triple-A rating to AA+, the Dow Jones Industrial Average reacted dramatically on Monday by falling more than 600 points; its worst-ever drop since the 2008 financial crisis. The 5.5% drop in the market, driven by a day of [...]