Crashing crude oil prices this year have wrecked the finances of most oil and gas companies. Some have experienced such financial hardship that they’ve had to declare bankruptcy. The longer oil prices remain lower, the more this list is likely to grow. Investors need to brace themselves for more turbulence ahead in the sector. Several…
Shares of Wins Finance Holdings Inc. WINS, +118.71% ran up 92% in midday trading Wednesday, after the Beijing-based investment and asset management company said it believes it can “cure” its noncompliance with Nasdaq listing requirements with the recent addition to its board. The company disclosed late Tuesday that it had been notified by Nasdaq that…
Shares of Wins Finance Holdings Inc. WINS, +133.46% ran up 92% in midday trading Wednesday, after the Beijing-based investment and asset management company said it believes it can “cure” its noncompliance with Nasdaq listing requirements with the recent addition to its board. The company disclosed late Tuesday that it had been notified by Nasdaq that…
We live in a world where fintech apps have made stock trading ever easier, cheaper and more accessible. Take Robinhood, a mobile brokerage worth $8.43 billion, that has amassed over 13 million users since its inception in 2013. Beyond making it simple to sign up and zero stock trading commissions, Robinhoods success comes from gamifying…
A CONSTRUCTION company that billed itself as Brisbane’s premier home extension and renovation business is being wound up after going into liquidation owing more than $1 million. Total Lifestyle Builders Pty Ltd is insolvent and appointed Jarvis Archer from Revive Financial as liquidator on June 18 to wind up its affairs. Mr Archer said according…
Podcast: Two Cents’ Worth When Christchurch bookkeeper and business owner Lisa Cowe was declared bankrupt in 2017, it was over a $6,200 credit card debt owed to the BNZ. Cowe joined 1862 others in bankruptcy that year, many of them voluntarily making the move to clear their debts and attempt to start anew, free of…
McLaren is facing insolvency McLaren is set to go to court as part of its attempts to raise additional capital to stave off the prospect of going insolvent. The English marque has been hit hard by the COVID-19 pandemic, announcing it was shedding a quarter of its workforce in May. It is now looking to…
NORTHERN EXPOSURE NORTH Lakes, north of Brisbane, has emerged as one of Australia’s worst bankruptcy hot spots. According to figures from the Australian Financial Security Authority, the suburb in the heart of Brisbane’s mortgage belt had the highest per capita number of personal insolvencies at the end of March. The percentage was 0.096 per cent,…
A former retail worker who tried and failed to blackmail the Romeo family has been forced into bankruptcy by the man he roped in to the scheme with promises of repaying a $320,000 debt. Christopher Garuccio was sentenced to two and a half years in prison for attempting to scam more than a million dollars…
Morgan Stanley on Monday lowered its base case for Hertz to $US0 from $US2, citing risks of de-listing or a potential liquidity shortfall. The firms base case is now equal to its bear case. Morgan Stanley also lowered its bull case for Hertz to $US3 from $US8. The updated price target reflects the banks view…