KNP Logistics, described by its administrators as one of the United Kingdoms largest privately owned logistics groups, declared itself insolvent on Monday, blaming a ransomware attack back in June. Approximately 730 employees will be made redundant as a result of the administration process, although one of the groups key entities has been sold, saving about…
If youve found yourself in credit card debt, youre not alone. According to TransUnion, the average American has $5,474 in credit card debtand the number of people in debt continues to climb. Brian Atkins, D.C. Community Manager from Chase, discusses the importance of debt management, including key steps to take and how to rid yourself…
Infarm, once Europes largest vertical farming company, has been declared bankrupt in the Netherlands as of September 19, according to official documents. The news comes after the company shut down operations across its key markets of the UK, France, Germany, the Netherlands and Denmark over the last year. In June, Sifted reported that Infarm was…
CAMBRIDGE Low-income countries are in the throes of a liquidity crunch that is not only undermining their economic development but also deepening the global climate crisis. In 2020 and 2021, net financial transfers to Africa were close to zero their lowest level in a decade despite record transfers from multilateral development banks (MDBs). That drop-off…
Sept 26 (Reuters) – Alibaba Group (9988.HK) on Tuesday kicked off its restructuring with a plan to list its logistics arm Cainiao in Hong Kong that would make the unit the first to be separated since the Chinese e-commerce giant announced its break-up six months ago. Alibaba said on Tuesday it had submitted an application…
Societal CDMO, Inc., a contract development and manufacturing organization (CDMO), is implementing a strategic restructuring plan to streamline and optimize operations. Societal has reduced its workforce by 26 positions (9%) across all the business, effective September 20, 2023, and has eliminated nine open positions. These moves are expected to result in annualized savings of approximately…
As President Joe Biden urged global cooperation at the United Nations to combat climate change, a coalition of U.S. Catholic organizations is calling on his administration to use debt relief as a means to “unlock critical funding” for countries most vulnerable to the impacts of a rapidly heating world. The letter campaign, organized by the…
A farmer sprays paddy seeds in a rice field in Chainat province, Thailand, Aug 31, 2023. REUTERS/Athit Perawongmetha/file photo BANGKOK -Thailands cabinet has approved a plan to suspend debt repayments for millions of farmers for three years at a total cost of about 33 billion baht ($908 million) to the government, a deputy finance minister…
Directors loan accounts and overdrawn directors loan accounts arent straightforward at the best of times and with the cost-of-living crisis hardly letting up, it seems a refresher might be in order, writes Gareth Wilcox of Opus Business Advisory Group. What is a directors or participators loan? Stripping back to basics, since a limited company is…
Having multiple loans complicates business bookkeeping. Multiple loans may also impact business cash flow during the month. Should you consider business debt consolidation? Absolutely. Even if youre easily managing multiple loans and cash flow, you might save money through debt consolidation. An investigation into small business debt consolidation that helps you save money? Sounds like…