Neil Mitchell has addressed the horrendous debt crisis unfolding in Victoria, likening the state to a rust bucket. Ratings agency Moodys predicts the state will reach $200 billion in debt in the next few years. Victoria is looking more like a rust bucket and weve got to face it, the 3AW Mornings host said. Press…
An ASX-listed food, beverage and nutrition retailer has abruptly halted trading on the stock market after it entered both administration and receivership. At the end of last week, Halo Food Co went into voluntary administration and the next day, receivers were also appointed. The firm boasted a range of big name food products, including acquiring…
Aug 29, 2023 9.39am Key Points Why it matters: Star booked a $2.2 billion impairment of its Sydney, Gold Coast and Brisbane casinos. The group had a $2.4 billion annual loss. Star is still waiting on the outcome of legal action commenced by AUSTRAC. Star Entertainment has blown out to a $2.4 billion loss after…
An ASX-listed food, beverage and nutrition retailer has abruptly halted trading on the stock market after it entered both administration and receivership. At the end of last week, Halo Food Co went into voluntary administration and the next day, receivers were also appointed. The firm boasted a range of big name food products, including acquiring…
Farmers Insurance says it will lay off 11% of its workforce about 2,400 employees as part of a corporate restructuring aimed at increasing its efficiency and long-term profitability ByThe Associated Press August 28, 2023, 4:30 PM FILE – The logo for the Farmers Insurance Group is seen on the North Course during the first round…
An ASX-listed food, beverage and nutrition retailer has abruptly halted trading on the stock market after it entered both administration and receivership. At the end of last week, Halo Food Co went into voluntary administration and the next day, receivers were also appointed. The firm boasted a range of big name food products, including acquiring…
German operations of Kautex Maschinenbau GmbH, an extrusion blow mold machinery maker, is insolvent due to what the company calls “a multitude of exogenous factors.” While the Bonn, Germany, production site is looking for new investors, the company’s location in Shunde, China, is not impacted by the company’s move, the company said. Kautex, in revealing…
Floridians experiencing spiked insurance premiums and limited options to deal with them have received some government assistance that may alleviate some of their financial woes and give some respite to Governor Ron DeSantis. Due to legislative reforms aiming to combat increasing homeowner costs and market instability, the Indiana-based Orion180 recently had its two carriers approved…
Owner Terry Pegula has been named President of the Buffalo Sabres. He will continue to work closely with COO John Roth leading the business side of the organization and general manager Kevyn Adams leading the hockey side of the organization. In conjunction with these changes, Pegula Sports & Entertainment (PSE) will be separating resources between…
As the next chart shows, insolvencies are much higher in July 2023 than earlier this year in most of the country. They are especially bad in New South Wales. Nationwide, 2022 was the bad year for insolvency. But in 2023, NSW is bleeding out. When you break down the NSW data you find two things.…