May 5 The Indian government on Friday tweaked rules to help tackle the record $150 billion in troubled debt accumulated in the nation’s banks. The government may authorize the Reserve Bank of India to direct banks to initiate an insolvency resolution process in the case of a default under provisions of the bankruptcy code, the…
Shares in Pearson rose as much as 15 per cent after the education group unveiled a fresh set of restructuring measures, ahead of what is set to be a fiery annual meeting. The FTSE 100 group said it is looking at ways to save an additional £300m by the end of 2019, having already reduced…
LONDON Pearson (PSON.L), the global education company battling a downturn in its biggest markets, said it would cut more costs and consider selling its U.S. school courseware business in the latest attempt to restructure. Pearson, which has issued five profit warnings in four years after students in the United States started renting rather than buying…
A record number of care home businesses failed last year as the financial pressure on social care in Britain took its toll. New government figures show that 75 care home businesses were declared insolvent in 2016, up from 74 the previous year. The failures mean that in total 421 care home businesses have collapsed since…