1. How big is the problem? Chinese defaults were at a record pace by mid-year with more than $25 billion in onshore and offshore payment failures. That compares to $29.9 billion for all of 2020. Defaults in the private sector in China actually dropped early last year, largely due to pandemic-related pressure valves such as…
DetailsMulti-cloud technology services provider Rackspace Technology this week unveiled restructuring that will result in the laying off of about 10 percent of the companys US workforce. Rackspace said it is investing between US$65 million and US$70 million to re-align resources towards fast-growing product and services offerings, including towards cloud services focused on such initiatives as…
DetailsThe Delhi High Court has granted interim protection to a homebuyer of Shubhkamna City residential project in Greater Noida West against a loan recovery proceedings initiated by a bank. While staying the proceedings pending before the Debt Recovery Tribunal (DRT) in Delhi, initiated by Bank of Maharashtra, a Bench of Justice Vipin Sanghi and Justice…
DetailsRupert Murdochs News Corp Australia has swung an axe in its commercial division after tapping consultancy McKinsey & Company to assist with another restructure. News Corp sources familiar with the restructuring plans, who spoke on the condition of anonymity, estimated between 30 to 50 commercial roles were cut in recent weeks as the changes were…
DetailsKilburn-based Railroad Transport has been placed in voluntary liquidation with more than 100 staff around Australia made redundant. Liquidator Tarquin Koch said the amount owed to them would be north of $2.1 million, but employee entitlements are covered under the federal Fair Entitlements Guarantee Scheme. Although the company made slight losses on annual revenues of…
DetailsPic: Philip Toscano/PA Wire Businesses are being urged to act early and seek advice as the Government’s Insolvency Service has shown a 63% increase in corporate insolvencies compared to June last year. After a year of struggles, where thousands of businesses have faced furlough, redundancies, and closures, experts are advising businesses to plan ahead to…
Details{{featured_button_text}} MATTOON Real estate agent Delia Bunyard of Century 21 Kima Properties was the guest speaker for a recent Kiwanis Club of Mattoon hybrid in-person/Zoom meeting. Bunyards stated mission as a real estate agent is to defy mediocrity and deliver extraordinary experiences for her clients. Bunyard talked about the local real estate market and how…
DetailsIn our weekly legal column, the Leader, with the expert advice of the team at GHP Legal, sets out to answer some of your problems. Today’s question is answered by partner Nathan Wright… Q: While he was furloughed, getting paid but not working, my husband started gambling online. He ran up huge debts we cannot…
Detailsnews, local-news, Goulburn, Heron Resources, Tarago, Woodlawn Mine, administration, FTI Consulting A company that was aiming to revive copper and zinc mining near Tarago has entered voluntary administration. Heron Resources notified the Australian Securities Exchange (ASX) of its decision on Friday. It followed failed attempts to secure what it described as a “suitable transaction” for…
DetailsThis article first appeared in Forum, The Edge Malaysia Weekly, on July 19, 2021 – July 25, 2021. The aftermath of the pandemic and continuing shock to the economy has caused the balance sheets of businesses and corporations to be severely impaired. The negative effects are expected to continue until there is a clear end…
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