In an update published yesterday (4 Jan), the lifeboat fund said that its investigations into Rowanmoor are continuing. “As well as the information from former customers of the firm, weare also gathering data and information from RPPL’s insolvency practitioners about the firm’s business. We are using this to consider the allegations made by former customers…
Details(Bloomberg) — Helen of Troy Ltd., the retail conglomerate behind consumer and wellness brands like OXO, Osprey and Vicks, will slash about 10% of its global staff in a restructuring. The company announced the cuts along with fiscal third-quarter earnings on Thursday. As part of the changes, the Beauty business will be combined with the…
DetailsBy Morey Stettner Financial advisers can’t work magic, but they can provide perspective and emotional support The challenges people face when coming into sudden wealth are often spoken about. Receiving a cash windfall — from an inheritance or a lottery jackpot, for instance, can upend someone’s life in unexpected ways. People who experience a sudden…
DetailsBY Richard Summerfield Following its collapse in late 2021, GTT Communications has finally exited its Chapter 11 bankruptcy and restructuring processes, having removed $2.8bn from its debt pile and brought in new investors. The company, which filed for Chapter 11 bankruptcy in October 2021, has agreed a deal with key creditors to amend its reorganisation…
Detailsposted by Jason Kilborn The list of countries with new personal insolvency laws continues to grow. Bloomberg noted today that the President of Kazakhstan had signed a new law setting out several procedures for relieving the debts of non-entrepreneur individuals (sole proprietors remain relegated to the existing law on rehabilitation and bankruptcy). The text of…
DetailsThe Financial Services Compensation Scheme has said information its received regarding the collapsed self-invested personal pension arm of Rowanmoor has been helpful and that its investigations into the firm are continuing. In an update published yesterday (January 5), the FSCS said: The information we have received is helpful and our investigations into RPPL (Rowanmoor Personal…
DetailsWednesday, January 4, 2023 Market overview Few could have predicted the unexpected twists and turns 2022 would provide. A year in which the spectre of war came home to haunt Europe. It sent energy prices spiralling out of control and the world economy facing a triple whammy of rising interest rates, double-digit inflation and a…
DetailsUS tech company Salesforce, which employs more than 2,000 people in Ireland, has informed staff it will layoff around 10% of its workforce and close some offices as part of a cost-cutting restructuring plan. Shares in the cloud software firm have nearly halved in value over the past year as part of a broader sell-off…
DetailsWAUSAU, Wis. (WSAW) – One-third of Americans took on an average of over $1,500 in holiday debt. Which is a 24% increase over last year. Financial experts at Park City Credit Union in Merrill said the first step is to start saving. Even a small amount, like $25 or $50 dollars a month will help.…
DetailsBits and pieces of the Yukon’s defunct Wolverine Mine are now up for grabs, as the company that owns the assets prepares for a quick sale. Welichem Equipment, a B.C. biotech company, owns most of the mine’s assets, including a zinc mill, 10-megawatt diesel plant and a turnkey mine camp for 250 workers. Welichem rented…
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