ArcelorMittal and Nu Metal will get another chance to prove their credentials to take over Essar Steel, facing insolvency proceedings in bankruptcy court. The Ahmedabad bench of the National Company Law Tribunal (NCLT) on Thursday declared invitation of the second round of bids for Essar Steel as invalid, brightening the chances for these two companies…
Carson’s Fort Wayne location is shown. Copyright 2018 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. Carson’s Fort Wayne location is shown. MILWAUKEE (AP) – The Bon-Ton Stores, which operates 260 department stores in the U.S. including Carson’s, is expected to go out of business after two…
Loading A horror story is coming The IMF does not take into account the near certainty of a global downturn at some point over the next five years. A deep recession would push the deficit into double digits, and send the debt ratio spiralling towards 140 per cent in short order. There is no justification…
The Tata groups plan to exit the hydrocarbon sector as part of its business restructuring plan, and has thus put up Tata Petrodyne assets for sale. Photo: Bloomberg Mumbai: Tata Petrodyne Ltd, which has put up its six oil and gas blocks for sale, is yet to find interest from buyers, two people aware of…
ArcelorMittal and Nu Metal will get another chance to prove their credentials to take over Essar Steel, facing insolvency proceedings in bankruptcy court. The Ahmedabad bench of the National Company Law Tribunal (NCLT) on Thursday declared invitation of the second round of bids for Essar Steel as invalid, brightening the chances for these two companies…
The Republic of Congos plan to restructure its debt wont affect holders of its Eurobonds, Prime Minister Clement Mouamba said. Yields on the notes fell for the first time in four days. The oil-producing central African nation owes creditors at least $9.14 billion and sought support from the International Monetary Fund last year. A three-year…
The UK’s corporate governance regime has been stress-tested in the past decade and in many respects it has done well. However, in response to certain high profile corporate collapses which have caused heavy losses for creditors, in particular individuals and suppliers with little opportunity to protect themselves against losses, and in the spirit of continual…
The British Steel consortium has repeatedly voiced a wish to purchase Latvias insolvent KVV Liepajas Metalurgs steelworks as a whole, according to a letter written by British Steel at the disposal of LETA. A consortium that includes British companies British Steel and its owner, Greybull Capital, plus Estonian company Baltic Metal Holding in a letter dated…
Qualcomm has begun axing employees in an attempt to cut annual operating costs by up to $1 billion. what’s hot on zdnet As reported by Reuters, a spokesperson for the US chipmaker said on Wednesday that “Qualcomm is conducting a reduction of our full-time and temporary workforce.” However, the company would not disclose how many…
When Andrew Purcell is asked how serious a breach of directors’ duties it would be for a director to seek a secret, personal benefit in return for supporting a deal in the interest of shareholders, he answers with a vigorous nod. “That would be against directors’ duties, yes,” he agrees. That conduct is precisely…