Company directors are increasingly calling time on their businesses as they become overwhelmed by higher interest rates, inflated energy costs and a pushback against unpaid tax from HM Revenue & Customs. The Insolvency Service found that the number of companies declared insolvent rose by 27 per cent to 2,163 in June. The figures indicate the…
Normal text sizeLarger text sizeVery large text size NSW Treasurer Daniel Mookhey will defer the full implementation of poker machine duty rates until the end of the decade, offering the cash-strapped Star Entertainment Group respite less than two weeks before the casino giant unveils its full-year results. After months of deliberation over a controversial tax…
The Australian Financial Security Authority will sharpen its regulatory posture to maximise its impact as personal insolvencies head back towards pre-pandemic levels, chief executive Tim Beresford says. He said a modernisation program was underway that would make it simpler for most bankrupts typically consumers involving small amounts to go through administration so the AFSA could…
By: Josh Sens August 10, 2023 Phil Mickelson at Medinah ahead of the 2012 Ryder Cup. Getty Images Its not news that Phil Mickelson liked to gamble. Its also not news that his betting led to staggering losses. Those losses had been previously reported in the neighborhood of $40 million. But a former Mickelson associate…
Golfer Phil Mickelson wagered more than $1 billion and lost more than $100 million on sporting events over the past three decades and attempted to place a bet on a Ryder Cup he was playing in, professional gambler Billy Walters claims in a book that will be published Aug. 23. In a book excerpt published…
Budget homes and gardens retailer Wilko has fallen into administration after failing to secure a rescue deal. A Wilko location on Kensington High Street in London England (AFP) Wilko, a British household products retailer, declared bankruptcy on Thursday due to large debts, its head announced. The closure affects about 12,000 employees as rising inflation and…
Walt Disney and Co. (DIS) lost about 12 million Disney+ streaming subscribers, took a big hit due to restructuring costs, and missed revenue projections, but its third-quarter earnings per share beat analysts’ expectations. Key Takeaways Disney reported earnings per share (EPS) of $1.03 per share, topping expectations of 95 cents a share. Revenue was 4%…
Thursday August 10, 2023 Advertisement Advertisement Pie in the sky, or could farm waste create fuel for 600,000 flights a year? Consumer spending levels show that even Barbie can get old Volatile year and write-down of coal-fired plants send AGL to $1.26b loss Look at who’ll be joining our Albo at the White House –…
German chiller manufacturer Efficient Energy GmbH has filed for insolvency. The company created eChiller cooling machines which use the pure natural element water (R718) as refrigerant, At the request of the companys management, the local court in Munich ordered provisional insolvency administration in June and appointed the restructuring expert Dr. Matthias Hofmann from the law…
Aug 10, 2023 3.41pm Key Points Why it matters: Insolvency numbers are jumping, and CBA says the ATO is partly responsible. After being soft and patient on tax during COVID-19, the ATO is now chasing debts aggressively. The long and the short of it is that people need to pay their taxes, a CBA executive…