Good morning, this is Eleanor Ainge Roy bringing you the main stories and must-reads on Thursday 10 January. Top stories The director of the collapsed flight booking service Bestjet has told a meeting of the companys creditors he was forced to put the company into voluntary administration after he did not receive a promised $3.2m…
FRANKFURT The headwinds buffeting the global auto industry made themselves felt in Europe on Thursday as mass-market carmaker Ford and luxury-focused Jaguar Land Rover announced sweeping restructurings that will cost thousands of jobs. Ford Motor Co. said it will drop an unspecified number of jobs in Europe as it seeks to make its business there…
Medical debt is part of the terrible legacy of asbestos exposure in America. Cancer therapies are expensive for all patients in the U.S. The average cost of a major chest surgery is about $40,000, and eight weeks of chemotherapy may cost up to $30,000. These medical bills often come at the same time the patient…
For financial goals that are about three years away, investing in debt funds help in generating tax effective returns. Compared with a net inflow of Rs 1.42 lakh crore in November 2018, mutual funds registered a net outflow of Rs 1.36 lakh crore in December 2018. While the equity asset base continues to be robust,…
Debt: Why more people are pressing the bankruptcy button By Kevin Peachey Personal finance reporter 20 January 2017 Image copyright Thinkstock A hug, a dance and a song is hardly the reaction you would expect from someone just about to be declared bankrupt. The threat of losing your home, a year of financial restrictions, three…
STOCKHOLM — Ericssons (NASDAQ: ERIC) focus on simplifying and stabilizing the business has during the three first quarters of 2018 resulted in stronger gross margins and a stabilizing topline. Focus has been on addressing underperforming areas while creating a strong platform for future growth. There has been solid progress in most portfolio areas. In…
Ericsson shares fell 4 per cent on Thursday after the Swedish telecoms equipment maker warned that restructuring a troubled division would cost about $850m. The company said that operating profit in the fourth quarter would be hurt by SKr6.1bn ($700m) in provisions in its lossmaking business support systems unit. Restructuring the unit which provides digital…
BERLIN Ford Motor Co. F -0.41% is launching an overhaul of its loss-making European business that is expected to include thousands of job cuts, plant closures and the scrapping of low-profit models amid a storm of bad news for global car makers. The move is part of a broad cost-cutting effort Ford Chief Executive Jim…
newsletters, editors-pick-list, Martin Building Services, liquidation, builder, Denis Martin, James Shaw, Shaw Gidley, insolvency ONE of the Hunters best-known homegrownbuilders, Martin Building Services, has foldedwith debts of almost $10 million. The company, which began in Maitland almost 20 years ago, was placed in the hands of insolvency expertsin December at the request of director and…
This has reference to earlier intimation dated 19th July, 2018 regarding admission of application for initiation of Corporate Insolvency Resolution Process (CIRP) under Section 9 of the Insolvency and Bankruptcy Code, 2016(IBC) by the Honble National Company Law Tribunal (NCLT), Kolkata Bench and subsequent appointment of Interim Resolution Professional (IRP) in our Company as per…