Updated Sept. 7, 2017 7:50 p.m. ET WASHINGTONPresident Donald Trump signaled he was open to making more deals with Democrats in Congress despite anger from fellow Republicans over a bipartisan agreement that passed the Senate Thursday yoking hurricane aid to an extension of the governments ability to borrow. For months, Mr. Trump has publicly mused…
Bell Pottinger, the British public relations firm disgraced by accusations that it exploited racial faultlines in South Africa, is on the brink of collapse. The company is expected to go into administration part of the U.K.’s corporate insolvency process as early as next Monday, and a number of staff members have been told of their…
September 7, 2017 The board of edible oil maker Ruchi Soya Industries Ltd has set up a committee to explore business restructuring options, the company said in a statement. Ruchi Soya is considering internal restructuring options including creating subsidiaries for individual businesses within the company, and separating businesses into individual entities, the company said in…
ADMINISTRATORS for Ostwald Bros have revealed to The Chronicle the full list of creditors owed money. The list includes big names such as Wagners, IOR Petroleum, Ergon Energy, FKG Group, Caltex and Coates Hire. Staff are also believed to be owed about $4 million in redundancy payouts, but that number could climb if more workers…
The major shareholder of ailing shipbuilder Nam Cheong has agreed to pay RM50 million (S$16 million) in cash to pare some debts, in a final bid to persuade lenders to help the firm replace debt with equity and avoid liquidation. Malaysian tycoon Tiong Su Kouk – Nam Cheong’s executive chairman – has agreed to inject…
WESTERN Australias new Labor government has turned to big business in its bid to repair the states diabolical finances, imposing a payroll tax levy on large corporations, while gold miners will be hit with higher royalties. For five years starting on July 1, employers with a nationwide payroll between $100 million and $1.5 billion will…
The FBI arrested popular New York City sports talk radio personality Craig Carton on Wednesday, alleging he conducted a Ponzi-like ticket fraud scheme to pay off millions of dollars in gambling debts. New York City sports talk radio host Craig Carton walked out of a federal courtroom Wednesday charged with securities fraud, wire fraud, and…
NEW DELHI: Home finance companies are jittery about the National Company Law Tribunal’s decision to initiate insolvency proceedings against real estate companies like Jaypee Infrastructure and Amrapali’s Silicon City because the insolvency and bankruptcy code (IBC) does not treat home loan financiers as secured lenders. With the implementation of the IBC in regard to a…
The Senate on Thursday overwhelmingly backed a $15.3 billion aid package for victims of Harvey, nearly doubling President Donald Trump‘s emergency request, and adding a deal between Trump and Democrats to increase America’s borrowing authority and fund the government into December. The 80-17 vote sends the package to the House for a vote on Friday,…
BLOOMFIELD, Conn.–(BUSINESS WIRE)–Kaman Corporation (NYSE:KAMN) today announced a restructuring plan resulting from its ongoing effort to improve capacity utilization and operating efficiency to better position the Companys Aerosystems business for increased profitability and growth. The restructuring primarily affects the Aerospace segments Connecticut Composite Structures division in Bloomfield, Connecticut, and its fabricated products operations in Hyde,…