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…
DetailsBeaurepaires, 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…
DetailsGitanjali 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…
DetailsIn 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…
DetailsBy Violet Li Affected families by the collapse of the Victorian builder Montego Homes are reeling from losing their deposits and their dream houses in the Casey South region. South Melbourne builder Montego Homes went into voluntary administration in January, with Sam Kaso and Shaun Matthews of insolvency service Cor Cordis appointed as administrators to…
DetailsLiubomyr Vorona / Getty Images/iStockphoto Millions of Americans are trapped in debt, often in very different ways. It could be student loan debt, credit card debt, an untenable mortgage or a massive auto loan. Whatever form your debt takes, its necessary for your financial wellbeing to pay it down or, ideally, wipe it out altogether.…
DetailsThe full impact of the financial collapse of a key arm of Department of Defence construction supplier St Hilliers remains unclear after the local firm called-in financial administrators for the second time in a decade after hitting the wall. Whatever the outcome, its not great. Construction firms across the nation are buckling under the pressure…
DetailsBarclays BCS inconsistent top-line performance is a major near-term headwind amid a challenging economic scenario. However, the banks restructuring initiatives continue to help manage operating expenses. Barclays has been witnessing volatility in both net interest income (NII) and net fee, commission and other income in the last few quarters, mainly on the back of a…
DetailsA new cooperation arrangement for mutual recognition of and assistance to cross-border corporate insolvency and debt restructuring proceedings has been established between Mainland China and Hong Kong (the Cooperation Arrangement). The Cooperation Arrangement is provided in a Record of Meeting on Mutual Recognition of and Assistance to Bankruptcy (Insolvency) proceedings between the Courts of the…
DetailsThis years Waste Management Phoenix Open is the first since the company DraftKings opened a 13,000-square-foot sportsbook at TPC Scottsdale. An expert says the addiction known as gambling disorder affects about 1% to 2% of the population. A ticket is needed most days to eat, drink and watch the Open from inside the posh sportsbook…
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