The insolvency professional appointed for Bhushan Steel has deferred the decision to open the financial bid placed by JSW Steel, Tata Steel and group of Bhushan Steel employees on Tuesday. The resolution professional was asking the bidder companies to explain their resolution plan and the reasons on why they think the plan will succeed, said…
Source: smh.com.au Embattled real estate company McGrath Limited has found itself in even more trouble, following rumours that founder and incoming chairman John McGrath has a huge gambling debt. McGrath ended Fridays session with a share price of $0.46 cents. The price had already taken a tumble upon news that the McGrath Board had quit…
Car manufacturing startup Tomcar Australia has entered voluntary administration, citing high manufacturing costs and hostile investors as the reason for shutting its doors. Launched in 2005, the company was founded by brothers David and Michael Brim, who spent seven years in development before releasing their first product in 2012. The company made 100 of its…
Good morning, welcome to ETMarkets Morning Podcast! Wall Street picked up the pieces with a modest pullback after Monday mayhem. That should come as some solace for the badly bruised local stocks on Wednesday. However, technical charts indicate more pain ahead. Plus we have RBI policy announcement ahead. That’s your trade setup for the day,…
Dubbo has one of the highest rates of personal bankruptcy in Australia, with 74 people in the city declared bankrupt in 2017. Statistics from the Australian Financial Security Authority and data research agency illion placed Dubbo eighth in Australia, and third in NSW, for suburbs with the highest concentration of bankruptcies. Despite the high result it…