Independent cinema chain Majestic Cinemas, which operates nine sites across northern NSW and south-east Queensland, has entered voluntary administration, citing reduced box office due to the impact of COVID-19 and the US strikes on production and release schedules, as well as rising costs and natural disasters, including floods and fires, in the region. The cinemas…
Developing countries need debt relief to act on climate change Climate change is not some distant menace; its effects are already being felt worldwide. (Reuters) Short Url https://arab.news/7nq9m If developing economies found it hard to manage their debts in 2023, they are likely to face even more formidable challenges this year. Though most possess relatively…
Beaurepaires, Australias oldest tyre retailer, is the latest business set to close its doors this year and an expert has warned it wont be the last. The iconic retailer is set to close 100 stores and lay off 700 workers after plans to sell the business to rival Bob Jane Corporation were reportedly unsuccessful. Its…
Gitanjali Gems was admitted into the Corporate Insolvency Resolution Process (CIRP) on October 8, 2018 with an admitted liability of over 12,000 crores. Resolution professional (RP) Vijay Kumar Garg informed the NCLT that on account of fraud allegedly perpetrated by the company, its affairs were being probed by multiple law enforcement agencies like the Central…
In the early 1980s, 19-year-old Jordan Belfort who would go on to become known as the Wolf of Wall Street, a title he bestowed on himself in a tell-all memoir had a fortuitous encounter on Jones Beach, on Long Island, with another teenager selling ice cream named Stephen Drescher. The two became friends. Prosecutors would…