[Ensure you have all the info you need in these unprecedented times. Subscribe now.] Roadrunner Transportation Systems was in the final steps in a multiyear financial turnaround effort when the coronavirus pandemic hit, forcing the company to confront the same economic challenges facing all of trucking while also seeing its plans through, a company executive…
DetailsVideo PlayerClose KAMPALA, June 11 (Xinhua) — Uganda is negotiating with bilateral creditors for debt relief after the COVID-19 pandemic affected its economic growth, a top official said here on Thursday. Matia Kasaija, minister of finance, while presenting the budget estimates for 2020/21 financial year, which starts on July 1, said the move will free…
DetailsSpending on gambling and streaming services has jumped massively during the coronavirus lockdown, but overall consumption is flatlining. NAB transaction data shows Australians are spending 62.7 per cent more on gambling and 41.6 per cent more on streaming services than they did this time last year. The figures refer to the average money spent over…
DetailsThe owner of British Gas has said it will cut 5,000 jobs as part of a major restructuring plan to turn around the company. Centrica says half of its 40-strong senior leadership team will step down by the end of August – and it also plans to strip out three layers of management to slimline…
DetailsThe US Federal Reserves whatever-it-takes approach to stabilising markets has had an unintended victim: serious discussions about debt relief in the emerging markets. As eye-wateringly high EM debt burdens are exacerbated by the economic effects of Covid-19, several high profile economists are frantically penning jointly-authored articles warning of an unprecedented debt crisis. Coordinated debt relief…
Detailsnews, local-news, Central West Local Land Services, farm business banking webinar, central west lls, Robinson Sewell Partners, Brad Sewell The Central West Local Land Services will be hosting a second webinar to help the next generation of farmers on debt management and banking on June 17. The webinar will cover how to present information to…
DetailsAccordingly, both Australia and the new British rules allow suppliers to apply to court for permission to use an ipso facto clause. This is not a realistic option for cash-strapped small suppliers. One new British rule is therefore worth urgent consideration in this country: small-scale suppliers of goods and services will be able to use…
DetailsCustomers browse financial services at a Money Expo. The banking industry has been focusing on helping customers via several methods of debt restructuring. The Thai Bankers’ Association (TBA) is considering extending debt restructuring measures as the domestic economic recovery should take a couple of years. The banking industry has been focusing on helping customers ease…
DetailsSTUFF Tourism businesses fear job losses could surpass 100,000. Tourism businesses owed $3m by online travel agency Aoliday NZ Ltd have forced the company into liquidation. Administrator Grant Thornton had recommended 130 creditors accept Aoliday’s offer to pay $284,000 while it chased up a major debtor in China. But representatives from major operators such as…
DetailsIn India, the Corporate Insolvency Resolution Process (hereinafter referred to as CIRP) is… In India, the Corporate Insolvency Resolution Process (hereinafter referred to as CIRP) is governed under the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as Code). Insolvency laws in India provides for an expeditious settlement of insolvency cases, protecting the interests of…
Details