BHP’s Brazilian assets frozen A Brazilian judge has frozen the Brazilian assets of BHP Billiton and Vale SA after finding that their joint venture Samarco would not be able to pay for the damage caused by the mudslide disaster last month. Last Friday the judge ruled that the mining giants could be held responsible for…
Annual General Meetings could fall victim to digital disruption The Australian Institute of Company Directors says the concept of an annual general meeting is dysfunctional and unnecessary in the modern world. A survey of 5,000 company directors found that a third believe that the idea of an annual general meeting is outdated and needs to…
Productivity Commission expected to call for penalty rates overhaul The commission was expected to make the call in their final report on workplace relations that was due on Monday. The final report from the commission is expected to recommend changes to Sunday penalty rates to bring some industries in line with time-and-a-half paid on Saturdays,…
James Packer has stepped down from his position as Crown Resorts director James Packer announced that he was stepping down as director on Monday, with immediate effect. Packer resigned as chairman of the company just four months ago. He served as a senior executive director until yesterday when the announcement was made. James Packer remains…
Seeking to improve ease of doing business, government introduced in Parliament the Insolvency and Bankruptcy Code, 2015 that provides for resolution of insolvency in a timebound manner. The bill aims at promoting investments, leading to higher economic growth. It also provides for setting up of a Insolvency and Bankruptcy Board of India to regulate professionals,…
Reddit Email Print Reprint LONDON ( The Deal) — European markets were mostly in recovery mode on Monday after Friday’s post U.S. interest rate funk but Spain bucked the trend. Investors were concerned the inconclusive result of the weekend’s general election there — with the conservative Parti Popular government of Mariano Rajoy losing its majority…
Dec. 21, 2015 4:50 a.m. ET So much for managing expectations. Over the weekend, The Wall Street Journal and other media reported that Toshiba TOSYY -2.26 % was set to forecast a $4.1 billion net loss for the fiscal year through March, sending shares down 9.8% on Monday. After the market closed, the Japanese conglomerate…
©Bloomberg Masashi Muromachi, Toshibas chief executive Toshiba has warned of its biggest annual loss of Y550bn ($4.5bn) as a result of massive costs involved in slashing 10,600 jobs and streamlining its lossmaking businesses. Analysts said that a speedy execution of the restructuring measures unveiled on Monday will be critical to restoring investor confidence tarnished by…
NEW DELHI: Seeking to improve ease of doing business, government today introduced in Parliament the ‘Insolvency and Bankruptcy Code, 2015’ that provides for resolution of insolvency in a timebound manner. The bill aims at promoting investments, leading to higher economic growth. It also provides for setting up of a ‘Insolvency and Bankruptcy Board of India’…
The government has moved the Insolvency and Bankruptcy Code, 2015 in the Lok Sabha, which will provide a framework for time bound resolution of corporate bankruptcy, ensuring that stakeholder interest are protected and the assets are put to use quickly. The bill seeks to consolidate and amend the laws relating to reorganization and insolvency resolution…