Vide the notification dated January 28, 2016 under Section 16E of the Tea Act, the central government had authorised the Tea Board to take over the control and management of the seven ailing tea estates of the GP Goenka-headed company in north Bengal. The Kolkata bench of the National Company Law Tribunal (NCLT) has dismissed…
The idea behind debt consolidation is simple: You take on a single, big loan to pay off all or most of your other, smaller liabilities. Story continues below Usually, there are three big reasons to do it. First, focusing on a single monthly debt payment is much easier than chasing due dates for a multitude…
Kenyas beleaguered public universities have been told to further tighten their belts after being slapped with a US$10 million budget cut that will worsen their cash woes, in austerity measures that are meant to avert a looming economic crisis. Last week, Kenyas parliament voted to reduce funding for spending on salaries, learning materials and infrastructure…
Max Brenner will close more than half its stores for good this coming Monday, only a week after the chocolate and caf chain entered voluntary administration. The swift action follows a rapid review to identify the stores with a financial future. “The decision to close stores is always regrettable but in this case we were…
Hong Kongs biggest television station fired another 150 people on Friday arising from losses in its international business and operational restructuring. Television Broadcasts (TVB) ushered in a wave of lay-offs in June when about 100 staff were told they would be made redundant. A TVB spokesman said in a statement on Friday that the 150…
Niamh Lyons, Ireland Political Editor Paschal Donohoe said that the high corporate tax receipts came about because of global accounting changesOireachtas TV/PA The exchequer will post its first budget surplus in ten years after a 1 billion windfall in corporation tax was unveiled yesterday by Paschal Donohoe. The finance minister is also set to announce…
Michael Nagle/Bloomberg The selling that began Thursday rolled into Friday, sending stocks on a two-day ride downward amid higher interest rates even as investors eyed mostly solid payrolls data. The yield on the benchmark 10-year Treasury note climbed to new seven-year highs above 3.2% by late Friday, and that appeared to interrupt the party stocks…
The world headquarters for the Ford Motor Company in Dearborn.(Photo: Jeff Haynes / AFP/Getty Images) Ford Motor Co. has begun what company officialsexpect to be a months-long process to form a plan focused on trimming its global salaried workforce. Officials expect to cut the number of salaried employees globally, which could include some in its…
Amidst the software industrys crazy unicorn valuations and hot buzzword-compliant startups, one software business model remains tried and true: buy the rights to a mature enterprise software product (or the whole company) and then milk its customers for ever-dwindling maintenance dollars. To keep the company going, continue to buy more such products and companies, thus…
Gaz Thompson wants to help other vulnerable people out of debt (Picture: CAP) Gaz Thompson is using his faith to help those struggling with unsustainable debts. Across the UK, more than four million people have debts that are considered unsustainable, and responsibility for helping these vulnerable people is increasingly falling to charities. One such charity,…