British Steel, the UKs second-largest steelmaker, is on the brink of collapse just three years after it was revived, putting thousands of jobs at risk. When buyout firm Greybull Capital bought theScunthorpe steelworks and other sitesfor the princely sum of 1 from Indias Tata in 2016 and revived the British Steel brand in 2016, the…
Zambia has ramped up the pressure on Konkola Copper Mines, the copper company controlled by Anil Agarwals Vedanta Resources. A day after President Edgar Lungu said he would strip KCM of its mining licence and bring in a new investor, Zambias High Court appointed a law firm called Lungu Simwanza & Company to act as…
British Steel is on the brink of collapse unless it can secure 30m in emergency funding from the government, putting about 5,000 jobs directly at risk and endangering thousands more in the supply chain. The UKs second-largest steel producer is preparing to call in administrators on Wednesday unless the government steps in with a loan…
Big-spending election loser Clive Palmer was absent from court as his lawyers were lambasted by a judge overseeing Queensland Nickels liquidation trial. Days after his federal election campaign failed to win his party a seat, Palmer on Tuesday sought to introduce evidence into the trial over his companys collapse that workers had started receiving their…
ICharter Limited was incorporated in November 2014 as a travel agency for private clients, with offices in Chatham, Kent. The company, however, entered into Creditors Voluntary Liquidation on 5 March 2018 after it could not pay debts of more than 127,000. Insolvency Practitioners were appointed to wind-up the company and their report to the Insolvency…
Nine has confirmed it will no longer continue with some of its smaller sporting events as part of the latest restructuring of theformer publishing empires assets. The $31 million sale to endurance sports company, The IRONMAN Group, include events like The Sun-Herald City2Surf presented by Westpac, The Sydney Morning Herald Half Marathon, Carmans Womens Fun…
Australian LGBTIQ publication Star Observer has announced the company has entered voluntary administration and is up for sale. The publication announced on Thursday the board of directors of the company, Gay & Lesbian Community Publishing Limited, had appointed Trent McMillen from MaC Insolvency as administrator on Friday, May 10. Advertisements Cash flow is the lifeblood…
Doug Ford had a private plan to surprise Ontarians. His first budget would recast him as a kinder, gentler premier. Not too tough, not too soft just right. It didnt go according to plan. By holding back the bad news under the guise of a good-news budget Fords Tories are belatedly paying a heavy price.…
DETROIT – Ford revealed details of its long-awaited restructuring plan Monday as it prepared for a future of electric and autonomous vehicles by parting ways with 7,000 white-collar workers worldwide, about 10 percent of its global salaried workforce. The major revamp, which had been underway since last year, will save about $600 million per year…
Ford Motor is laying off 7,000 salaried employees as part of CEO Jim Hacketts restructuring plan to reduce bureaucracy, cut costs and turn the automaker into a more agile company prepared for a future that extends beyond its traditional business of producing and selling cars and trucks. The cuts represent about 10% of the automakers…