* Q3 net profit rises to 649 mln eur vs 278 mln eur * Revenue down 10 pct, prospects for Q4 muted * Bond trading revenue down 36, equities down 16 pct * Costs down 13.5 pct y-o-y on lower restructuring, litigation * Shares down 1.6 percent (Adds shares, analyst comment) By Tom Sims and…
The clarification came as some stakeholders drew attention to Section 30(2)(e) of the IBC, which directs resolution professionals to ensure any such insolvency resolution plan does not contravene any of the provisions of the law for the time being in force. (Reuters) The Insolvency and Bankruptcy Code (IBC), 2016, isnt in conflict with the Companies…
Approximately $995,000 worth of debts was uncovered after the first creditors meeting of Adelaide-based distributor, BMS Technology. BMS Technology entered into voluntary administration on 10 October, with Peter Ivan Macks and Ian Wayne Burford from Macks Advisory being appointed administrators. The first meeting of creditors, which was held on 19 October, revealed that BMS entered…
Problem gambling and family violence are terrible twins. Like most twins they have common features loss of control, secrecy, denial, tolerance of the problem despite adverse consequences, minimisation and harm to the entire family. In the Hunter, 2.6 per cent of the adult population demonstrate problem or moderate risk gambling behaviour, and a staggering 14.7…
LONDON (AP) Barclays says third-quarter earnings rose 32 percent as the London-based bank reported its first results since completing a post-financial crisis restructuring. Pre-tax profit increased to 1.11 billion pounds ($1.47 billion) from 837 million pounds. The bank, which shed riskier assets and sold its African business to focus on Britain and North America, said…
The good news about student loans is that they allow millions of people to earn college degrees who otherwise wouldnt be able to afford them. The bad news is that college graduates enter the workforce deeply mired in debt that deflates their net worth and keeps them cash-strapped for years, if not decades. The current…
The crunch by-election in the state seat of Northcote is getting nasty with one candidate saying her recent past of marriage breakdown and domestic violence has been dredged-up in an attempt to damage her chances. The Greens say the story of their candidate Lidia Thorpe’s bankruptcy four years ago was being “shopped around” Melbourne media…
More than 14 winding-up petitions are pending before the Delhi high court against Era Infra Engineering. Photo: Mint New Delhi: A special bench of the National Company Law Tribunal (NCLT) on Thursday reserved its ruling on whether to initiate insolvency proceedings against Era Infra Engineering Ltd, when winding-up petitions are pending against the company at…
TOKYO — Hitachi upgraded its operating profit forecast for the current fiscal year Thursday to a record 660 billion yen ($5.79 billion) in light of strong earnings from mainstay operations such as chipmaking equipment, construction machinery and information and telecommunications systems. The new figure represents a 12% increase on the year and beats the company’s earlier projection…
Does Ford Motor Co. (F) need a restructuring? That’s the question one company follower had on his mind during Ford’s third quarter conference call Thursday morning. “Sometimes, when you have big changes of strategy, big management changes and fundamental pivots in the direction of the organization long-term, when you reassess fitness, in this industry, at…