Mitsubishi Electric Corp. shares JP:6503 rose sharply Tuesday morning after the company announced the restructuring of its loss-making car equipment business. Shares were recently 4.7% higher at 1,706.5 yen ($12.71) after rising as much as 5.4% earlier. The company said Monday after market close that it would discontinue its car multimedia… Read the full article…
April 24 (Reuters) – Embattled property developer China Evergrande Group (3333.HK) said its listed electric vehicle arm will book a $3.6 billion gain from the transfer of two debt-laden companies to another group unit as part of the auto firm’s restructuring. With more than $300 billion in total liabilities including offshore debt, Evergrande has been…
Blood should be thicker than water, but some might disregard the value of familial relationships just to fuel their own interests. This was the case for one Chinese grandfather addicted to gambling, who had kidnapped his own granddaughter in order to pay off his 500,000 yuan (S$96,600) debt. The criminal case which was reported in the…
Deloitte is forecasting around 600 insolvencies this year, up from around 500 in 2022 This reflected a 22pc increase from the same period last year but was slightly below the number recorded in the final quarter of the year, when 154 insolvencies were reported. Deloitte financial advisory partner David Van Dessel said recent levels of…