Restructuring

A pulp mill with a red and white striped chimney, a green and grey boiler house and long conveyor galleries beyond a roadside field, under a cloudy blue sky.

How Mercer International Plans to Cut Its Debt From $1.64 Billion to About $700 Million in 52 Days of Chapter 11

Mercer International, the pulp and lumber maker with mills in Germany, Canada and the United States, filed a prepackaged Chapter 11 case in Houston on 9 November 2026. Its plan swaps about $1.1 billion of bonds for shares and cuts funded debt from about $1.64 billion to about $700 million. Holders of about 88 per cent of its notes support it, and it aims to emerge by 31 December.

By Thomas Gutierrez 24 minutes ago

An open-plan office seen down a corridor, with rows of white desks behind frosted glass partitions and most of the chairs empty.

Technology

Xbox Is Three Quarters of the Way Through Its Reset. Halo Changed Hands on the Way.

Microsoft eliminated 268 more roles in its games division on Tuesday, moved development of the next Halo to Activision, folded Obsidian into Bethesda and began consultation on closing Ninja Theory after two sale agreements collapsed. Xbox's chief content officer said the restructuring announced in July is now roughly three-quarters done.

By Margaret Holloway September 23, 2026

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How Mercer International Plans to Cut Its Debt From $1.64 Billion to About $700 Million in 52 Days of Chapter 11

Xbox Is Three Quarters of the Way Through Its Reset. Halo Changed Hands on the Way.