The agreement will make Jack Mas fintech giant subject to capital benchmarks similar to those for banks. Ant Group Co. and Chinese regulators have agreed on a restructuring plan that will turn Jack Mas fintech giant into a financial holding company, making it subject to capital requirements similar to those for banks. The plan calls…
DetailsDate: 04.02.2021 Vehicle logistics service feels pinch from car market downturn The company says Covid-19 has also contributed to market volatility Intermodal operator Linx Cargo Care Groups (LCCGs) car-carrying arm, Autocare Services, is placed into voluntary administration. In a statement, LCCG notes the decision to place Autocare Services into voluntary administration was necessary due to…
DetailsAussie car mover Autocare Services has entered into voluntary administration as volatile market conditions and low sales of new cars put enormous pressure on the businesses’ bottom line. Autocare Services specialise in shore-to-door vehicle delivery, which boils down to storing and distributing new cars to dealers, corporate clients and leasing companies. The business employs almost…
DetailsPosted on: February 3, 2021, 11:43h. Last updated on: February 3, 2021, 12:17h. Devin O’Connor Read More Joel Silver, one of Hollywoods most successful producers over the last 40 years, reportedly paid a $1.7 gambling debt in 2014 for entertainment colleague Ron Meyer. Joel Silver (left) and Ron Meyer are seen here in 2014 at…
DetailsBy Ben PriceBBC News image copyrightGetty Imagesimage captionMental health charity Hafal said it was being “swamped” by people needing help with their finances The pandemic is creating a “debt time-bomb” according to charities concerned about the impact it is having on people’s mental health. More than 280,000 people in Wales have fallen behind on payments…
DetailsCorporate insolvencies fell by 27.1 percent for 2020 in England and Wales but the statistics dont convey the distressed situation many businesses across the UK find themselves in, according to Azets restructuring and insolvency partner, Stephen Grant. At face value, the reduction in corporate insolvencies seems like cause for celebration, but these numbers mask the…
DetailsJack Mas Ant Group has reached a deal with Chinese regulators to restructure its business after they raised issues that halted its $37bn initial public offering last year, according to several people familiar with the situation. The proposed restructuring will involve Ant placing all of its major businesses, including its technology units, inside a financial…
DetailsContents1 Subscribe to The Nation2 Subscribe to The Nation3 Subscribe to The Nation4 Support Progressive Journalism5 Support Progressive Journalism6 Sign up for our Wine Club today. President Joe Biden signs an executive order during an event in the State Dining Room of the White House on January 21, 2021, in Washington, D.C. (Photo by Alex…
DetailsThere are several reasons a company might liquidate. It might be the case that the company is insolvent and no longer has a viable future, it cannot pay its debts, or perhaps it is sustainable but the director has chosen to retire. Whatever the situation, it is important to understand the differences between compulsory and…
DetailsMetamaterial Inc. of Dartmouth, developer of high-performance functional materials and nanocomposites, announced Tuesday it has acquired specialized lens casting production from Swiss company Interglass Technology AG, which is in liquidation. Metamaterial is paying US$800,000 to acquire equipment and intellectual property, including more than 70 international patents, from Interglass. It plans to invest and expand its…
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