South Africa Looks Toward Inclusive Recovery to Stabilize Debt, Boost Growth – International Monetary Fund

Debt Help

Job seekers stand outside a construction site near Johannesburg. South Africas unemployment rate hit a record high even before the pandemic hit. (photo: Siphiwe Sibeko/REUTERS/Newcom) South Africa Looks Toward Inclusive Recovery to Stabilize Debt, Boost Growth August 3, 2020 In a conversation with IMF Country Focus, the Director-General of South Africas National Treasury Dondo Mogajane…

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Coronavirus: HSBC to speed up 35,000 job cuts as profits slump – BBC News

Restructuring

Image copyright Reuters HSBC plans to speed up job cuts after interim profits plunged and the bank said bad loans linked to the coronavirus could reach $13bn (9.8bn). HSBC boss Noel Quinn said it will “accelerate” an earlier restructuring plan which included axing 35,000 jobs. “Our operating environment has changed significantly since the start of…

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UKGC launches public awareness campaign on gambling controls, rights and safeguards – SBC News

Gambling

Related Articles The UK Gambling Commission (UKGC) has launched its latest public campaign promoting 9 ways to keep yourself safe when gambling. The campaign focuses on raising public awareness of safer gambling control tools, facilities and support groups such as GambleAware and GamCare. In addition, the UKGC seeks to provide better all-round guidance on how…

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Coronavirus: HSBC to speed up 35,000 job cuts as profits slump – Yahoo News Australia

Restructuring

HSBC plans to speed up job cuts after interim profits plunged and the bank said bad loans linked to the coronavirus could reach $13bn (9.8bn). HSBC boss Noel Quinn said it will “accelerate” an earlier restructuring plan which included axing 35,000 jobs. “Our operating environment has changed significantly since the start of the year,” he…

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Melbourne a ‘Petrie dish’ for retail disruption – The Age

Restructuring

James Stewart, a business restructuring expert with KPMG who specialises in retail, said while sellers of food, consumer electronics and tech already operating online were likely to remain profitable, Monday’s government announcement would hit hard those trading in fashion and other discretionary goods from city and suburban shops. The shift to working from home, the…

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‘Explore financial restructuring options before it is too late’ – Consultancy-me.com

Restructuring

With many companies already facing unsteady financial ground before the onset of this crisis, the economic consequences of Covid-19 will transform GCCs business landscape for the foreseeable future. For the majority of organisations, it will be key to address issues related to debt, cash flow and balance sheet, better sooner than later. With over 25…

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China’s Weilin owes $58m, but cotton farmers, brokers offered $5.5m – Farm Weekly

Bankruptcy

Unsecured creditors from across the cotton industry are being warned to expect to be repaid maybe just a fifth of their losses following the collapse of Chinese-owned merchant Weilin Trade owing about $58 million. Latest estimates suggest about 195 cotton growers, brokers, merchants and other service providers have lost money after Weilin bought cotton for…

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