The Daily Docket: Apple Supplier GT Advanced Plans to Wind Down Sapp...

Apple Inc . supplier GT Advanced Technologies Inc. plans to exit the business of manufacturing sapphire after a failed effort to produce material for Apple’s smartphone screens. Read the Daily Bankruptcy Review story in the Wall Street Journal.

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Trump Taj Mahal executives are accusing union leaders of “harassing” their customers who have upcoming conventions and other big events, telling them they should rebook their parties with the beleaguered casino’s Atlantic City rivals, reports DBR via The Journal.

Espírito Santo Financial Group SA, whose main asset was a 20% stake in the collapsed Portuguese bank Banco Espírito Santo SA, said Thursday that it has filed for bankruptcy after a Luxembourg court denied an earlier request for protection from its creditors, WSJ reports.

Global regulators are pushing for significant changes to derivatives contracts in a bid for more time to resolve potential failures by financial institutions and avert a repeat of the 2008 crisis, writes WSJ.

DealBook’s Stephen Lubben says the change in derivatives rules doesn’t resolve question of bankruptcy law’s safe harbors.

ICYMI: Republican candidate’s role in the Pillowtex bankruptcy takes center stage in Georgia senate race, reports Politico.

Plunging sugar prices have forced at least one Indian sugar mill to default on bank loans and could drive others to do the same, the latest sign of the heavy toll a four-year-old supply glut in the country is taking on producers of the sweetener, writes Reuters.

Write to Patrick Fitzgerald at [email protected]. Follow him on Twitter at @patfitzgerald23.