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…
DetailsAs 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…
DetailsA 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…
DetailsDirectors 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…
DetailsHaving 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…
DetailsThe Australian Financial Security Authority (AFSA) is responsible for managing the application of bankruptcy and personal property securities laws through the delivery of high-quality personal insolvency and trustee, regulation and enforcement, and personal property securities services. We ensure confidence in Australias personal insolvency and personal property securities systems, and manage the proceeds of crime through…
DetailsCEO of the Victorian Chamber of Commerce and Industry, Paul Guerra, has come up with an idea for the federal government to help tackle Victorias debt crisis. Australia is set to record its first surplus in 15 years, which has been revised up to $22.1 billion, with Mr Guerra telling Ross and Russel what the…
DetailsBy Sophie Madden BBC News, West Midlands The leader of Birmingham City Council has said it is faced with “stark choices” as councillors approved a financial recovery plan. The authority declared itself essentially bankrupt earlier this month in part over a 760m equal pay bill. During Monday’s four-hour, often fractious meeting, councillors took turns to…
DetailsThe author is an analyst for NH Investment & Securities. He can be reached at [email protected] — Ed. A change in business structure to electrification is expected at Hyundai Wias auto parts division on orders for thermal management parts. Elsewhere, having completed restructuring, the machinery division should see a full-scale strengthening in top- and bottom-line…
DetailsCredit card interest rates are the highest we’ve seen in years, with a national average APR of about 24% as of Sept. 2023. This has made the cost of credit card debt even more expensive, and with the average credit card debt among cardholders with unpaid balances sitting at $7,279, it has caused a financial…
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