Paul ODonoghue, IrelandBusiness Reporter It was hoped that the turbines would prove the technology of OpenHydro, co-founded by Brendan GilmoreNICOLAS JOB An Irish-made turbine deployed in Canada in July to help test the viability of tidal technology was damaged beyond repair after only two months. Dublin-based OpenHydro was one of the first companies to attempt…
Auditor General Edward Ouko has said the East Africa Portland Cement Company (EAPCC) cannot pay its debts. The companys books have deteriorated rapidly over the past one year, pushing it Sh2 billion further into insolvency. ALSO READ: Billions gobbled up by Nairobi County, audit reveals The groups current liabilities exceeded its current assets by Sh6…
“PECO has remained untouchable.” Rich families have always lorded over the countrys regional economy, as those with vast landholdings and businesses in the provinces dominate the local economy, usually with their huge agri-industrial businesses migrating to public services. Such is the case for the Cacho family of Iloilo, the majority owner of the controversial…
SAN FRANCISCO–(BUSINESS WIRE)–Wells Fargo & Company (NYSE: WFC) today announced dividends on eleven series of preferred stock. A quarterly cash dividend of $18.75 per share was declared on its 7.50% non-cumulative perpetual convertible class A preferred stock, Series L, liquidation preference $1,000 per share, which is traded on the New York Stock Exchange under the…
Waimea Contract Carriers Ltd has all but traded its way out of voluntary administration and paid back its creditors an outcome described as rare by one administrator. The transport company, based about 16km south of Nelson, was placed in voluntary administration (VA) on March 30, 2015 with debts of more than $16 million. Administrator Richard…
A Buxton shoe firm which employed 50 staff has gone into voluntary liquidation. The decision was taken after Bells Shoes lost an account with Clarks which accounted for nearly half of the firms 18m turnover. Redfoot Shoes, which is based in Bacup in East Lancashire, has announced it is investing over 1m to develop the…
Online fashion retailer Jabong is expected to lay off a significant portion of its workforce in Gurgaon as part of a restructuring at Flipkart Group, according to three sources familiar with the development. In all, Jabong, which was acquired by Flipkarts fashion unit Myntra in 2016, could lay off 40-50% of its 400-strong workforce. Walmart,…