BERLIN (Reuters) – Lufthansas (LHAG.DE) supervisory board approved plans to invest 1 billion euros ($1.2 billion) in up to 61 additional planes to expand its Eurowings budget business after German rival Air Berlin was declared insolvent. Air Berlins creditors have selected Lufthansa and British budget carrier easyJet (EZJ.L) to negotiate over a carve-up of its…
Fashion fail: Topshop Australia calls in administrators exit ???High-profile fashion retailer Topshop Australia has collapsed under debts and entered voluntary administration, with the future of its stores and workers under a cloud. Administrator James Stewart, of Ferrier Hodgson, said the company would continue to trade as normal while it considered its “optimal operating structure”. “It…
New data from the Australian Financial Security Authority (AFSA) has revealed that excessive credit use has overtaken unemployment/loss of income as the most common cause of personal insolvency. The government agencys research found that of a total 25,225 cases of non-business related personal insolvency for the 2016-17 period, 8,870 (slightly over 35%) were due to excessive…