Source: Mick Tsikas / AAP Image The 2022-2023 federal budget is now just a week away, and Treasurer Jim Chalmers has had ample time to set expectations. Macroeconomic gloom and continued uncertainty mean the Labor governments first full budget since taking power last year will not be a fiscal free-for-all. Hard choices will be made.…
Singapore’s Keppel Corp on Wednesday (May 3) announced a major corporate restructuring, doing away with its conglomerate form and dividing itself into three distinct units, in a bid to simplify and further grow its operations. The conglomerate, which has operations ranging from data centres to renewable energy assets, will restructure itself into three businesses –…
Singapore’s Keppel Corp on Wednesday (May 3) announced a major corporate restructuring, doing away with its conglomerate form and dividing itself into three distinct units, in a bid to simplify and further grow its operations. The conglomerate, which has operations ranging from data centres to renewable energy assets, will restructure itself into three businesses –…
Manchester United star Marcus Rashford has come to the aid of Wes Brown by offering the bankrupt former Red Devil ‘mates’ rates’ on a rented house. Brown was declared bankrupt by the High Court a fortnight ago after falling into a six-figure debt with HMRC. The 43-year-old spent 15 years in United’s first-team after graduating…
Manchester-based fintech Open Money has issued an official statement following reports over the bank holiday weekend that staff wages would be going unpaid as the company enters a CVA and undergoes large scale restructuring under its new owners. The statement confirms that payment of salaries for a number of members of staff across the business…
This article covers a developing story. Continue to check back with us as we will be adding more information as it becomes available. Financial troubles have reached the breaking point for Indian low-cost carrier Go First. As reported by The Times of India, the airline has filed initial bankruptcy proceedings with the National Company Law…
Bondholders in Denis OBriens Digicel, who are on track to take control of the over-indebted business as part of a massive restructuring, have agreed to grant the group a bridging loan of up to $100 million (90 million) as work continues on the wider overhaul. Digicel said on Tuesday that holders of $925 million of…
Global beauty company Revlon Inc. has successfully completed its financial restructuring process and emerged from Chapter 11. The newly reorganized company is named “Revlon Group Holdings LLC. Simplified Capital Structure & Reduced Debt Today marks an important moment in Revlons history and evolution. Less than a year after beginning the financial restructuring process, Im proud…
High borrowing costs and inflation are weighing heavily on businesses, official figures suggest. Company insolvencies rose 16% in March compared to the previous year as business owners struggled to contend with soaring costs and tougher economic conditions. Experts predict that more will follow, as the economy continues to stagnate. Last month there were 2,457 insolvent…
Daily News View All News 02 May 2023 Go2 People Ltd. (GO2:ASX), the Australia-based provider of vertically integrated recruitment and training services, announced that it has entered voluntary administration. The announcement comes after the group announced last week that its securities would be suspended from quotation immediately under Listing Rule 17.2, at the request of Go2,…