Reuters. Citigroup (NYSE:)’s CEO, Jane Fraser, has initiated a significant restructuring of the bank, marking the most substantial overhaul in 15 years. The plan aims to shift the bank’s focus from geographical divisions to its individual business units. The restructuring strategy has been met with mixed reactions internally due to uncertainty surrounding job cuts and…
DetailsNew Delhi: The National Company Law Appellate Tribunal (NCLAT) on Monday deferred hearing in a plea in the insolvency case of SREI Infrastructure to 4 October after the company sought time to submit a rejoinder to a response by the Reserve Bank of India (RBI). Adisri Commercial, former promoter of SREI Infrastructure, had appealed to…
DetailsSep 25, 2023 6.13pm Star Entertainment, the embattled operator of casinos in Sydney, Brisbane and the Gold Coast, is raising $750 million at a significant discount but says it will not proceed with the sale of any of its assets. The company has also secured $450 million in new debt facilities from Barclays and Westpac…
DetailsReuters. Star Entertainment Group Ltd., a leading Australian casino operator, has initiated a trading halt for its shares until Wednesday, following regulatory scrutiny impacting the nationwide gambling sector. The company’s financial standing has been influenced by these regulatory actions, leading to a reassessment of its financial strategy. The pause in trading is in anticipation of…
DetailsThe Star Entertainment Group Ltd (ASX: SGR) share price isn’t moving this morning after the casino business announced that trading in its shares was going to be halted. This is the business that has casinos in Brisbane, Gold Coast and Sydney. What’s going on with the Star Entertainment share price? The company announced to the…
DetailsAustralian casino operator Star Entertainment Group Ltd. is seeking to raise as much as A$1.2 billion ($771 million) through a combination of equity and debt after a crackdown on criminal associations and money laundering across the nations gambling industry eroded its financial position. The company launched a A$750 million equity raising priced at 60 Australian…
DetailsMake this a priority. Debt is expensive – financially, emotionally and mentally. It increases stress levels and anxiety. It keeps you emotionally obligated to individuals whom you are financially indebted to. It has a huge financial cost. When you service your credit card debt of around 24% annualised, be extremely mindful of the fact that this…
DetailsMillions of American are in debt, but debt relief companies have their own issues. American consumers hold more than $16 trillion of debt in the form of mortgages, credit cards, personal lines of credit, home equity lines of credit, student loans and personal loans. When emergencies strike or monthly paychecks dont always cover bills, countless…
DetailsDespite progress towards a banking union in the EU, European banks continue to be confronted with a highly divergent application of insolvency laws. A recent survey of European banks conducted by the European Banking Authority (2020) shows that this divergence has given rise to widely varying loan resolution outcomes. To eliminate the variation in the…
DetailsWith a number of building and construction companies facing solvency issues due to supply shortages and increasing prices, the Victorian government has acknowledged the tough position this may put property owners into. They advised that builders who do go into voluntary administration but not liquidation may continue to provide services to clients. The government recommends…
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