Answers.com | Photo by Michael Stacy
Here are today’s top business headlines from across Missouri:
University City-based Answers Corp. has filed for Chapter 11 bankruptcy. According to documents filed Friday in U.S. Bankruptcy Court in Manhattan, plans call for the company to swap its ownership to creditors who are owed about $540 million. Read more
A federal jury in Kansas City, Kan., awarded Sprint $139.8 million in a patent infringement lawsuit against Time Warner Cable on Friday. Sprint had sued Time Warner in 2011, arguing that the cable company had infringed on a number of patents that dealt with handling telephone calls through data networks rather than expensive traditional switching equipment. Read more
Legislation known as the Miners Protection Act would preserve pension and health benefits for about 23,000 retired union miners at risk of losing them amid the industry’s widespread bankruptcies. Though the bill is currently in the hands of Congress, President Donald Trump has yet to throw any public support behind it. Read more
Two versions of prescription drug monitoring bills have once again been proposed in the Missouri General Assembly, but it is unlikely Missouri will join the rest of the United States in setting up such a program this year. Read more
Saint Louis University plans to lay off 120 employees on Tuesday, according to a letter from Fred Pestello, the university’s president. SLU also will eliminate 130 staff and administrative positions that are currently vacant. The cuts will impact every operational and academic unit. Read more
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