WASHINGTON, May 23 (Reuters) – Richard Branson’s bankrupt satellite launch firm, Virgin Orbit, on Tuesday revealed that it was closing for good after a $36.4 million asset sale, including an agreement to sell the bulk of its Long Beach, California, headquarters to small-launch firm Rocket Lab USA Inc. (RKLB.O) Rocket Lab, the seasoned small-rocket company…
Caiaimage/Chris Ryan/Getty Images A recent Bankrate survey found that over a third of U.S. adults have more credit card debt than emergency savings the highest level in 12 years. If you too are struggling with debt, applying for debt relief can make your payments more manageable, plus help you tackle your balances faster and even…
A coming debt default could lead to volatility in the stock market and higher risk of recession. Getty Images/iStockphoto The United States could soon face an unprecedented financial crisis unless lawmakers raise the debt limit to avoid a default. The U.S. surpassed its debt limit earlier this year, and Treasury Secretary Janet Yellen said this…
When veterinarian Monica Chinchilla filed her tax return last year, she noticed her student HELP debt had risen by about $3,100 due to indexation. Despite working full-time, the annual repayments from her salary were about $3,400 meaning her debt reduced by only $300. This year, the situation with her HELP debt is looking much worse. With…
The looming financial new year heralds an unwelcome extra cost for thousands of people who currently have HECS-HELP debts. This is because every unpaid debt is going to automatically increase when it’s indexed on June 1. In previous years, the HECS indexation rate was relatively modest. But thanks to soaring inflation, this year’s indexation rate is…
The Insolvency Services policy and technical conference returns for a third year and were inviting interested parties to submit abstracts of papers. Following the success of last years Forward Thinking conference held at Nottingham Trent University, the Insolvency Service is planning the next conference on Friday 10 November 2023 to be held at University of…
Since joining Kroll in 2011, Niamh has developed broad industry knowledge across many sectors, having worked on numerous complex assignments, with specific experience in the areas of financial advisory, due diligence, corporate restructuring, advisory and strategic reviews. She plays an important role in the project management of a number of high-profile property assignments consisting of…
Reuters. Alibaba’s (NYSE:) cloud division has started to cut jobs and could eventually reduce the total workforce by roughly 7%, Bloomberg News reports. The restructuring process has begun as the unit prepares for a spinoff within the next 12 months. The aim of the process is to streamline the once fast-growing business. An initial public…
Reuters. Alibaba’s (NYSE:) price target was cut to $160 from $175 by Susquehanna on Tuesday, with analysts maintaining a Positive rating on the stock. They believe the focus for Alibaba has shifted to restructuring, which is a potential long-term driver. “BABA continues to face pressure related to the macro and lingering pandemic impacts, though the…
Mlenny Elevator Pitch I continue to award a Buy rating to Korea Electric Power Corporation (NYSE:KEP) [015760:KS] shares. In my prior article for Korea Electric Power written on March 9, 2023, I discussed about the prospects of a turnaround for KEP. My current update for KEP focuses on the company’s new corporate restructuring program and…