Funtastic (ASX: FUN) has recorded a first half profit of $35.4 million for the first-half of FY18, representing a rare bit of positive news for the ailing Australian retail sector. The listed company revealed its net profit of $35.4 million was up from a $4.3m loss in the first-half last year. The…
DetailsRob Atkinson. Australian Radio Network (ARN) CEO Rob Atkinson tells AdNews it’s business as usual for its podcast platform iHeartRadio, despite its US owner iHeartMedia filing for bankruptcy. Last week the US-founded company, whose free broadcast and internet radio platform iHeartRadio is used by ARN, revealed its plans to implement a balance sheet restructuring. It said…
DetailsA whole bunch of businesses linked to the company’s founder are in serious trouble. Last week, the founder of popular dessert chain Doughnut Time announced the business had run out money and as a result the vast majority of stores would close. In an apparent last-minute lifeline, the former CEO of the company offered to…
DetailsBy J C Suresh TORONTO (IDN) Ahead of the next hurricane season in the Caribbean, faith leaders are calling for action from government leaders, the United Nations system, the International Monetary Fund (IMF) and regional development institutions. A statement signed and endorsed by 22 religious leaders from Grenada to Saint Lucia is urging the establishment…
DetailsA Brisbane business owner who is owed $1 million is furious at the Queensland Building and Construction Commission (QBCC) for what he calls a lack of action and regulation. Stefan Styles operates one of Queensland’s largest shower screen and wardrobe companies, employing about 120 people. He said the industry was still recovering from a…
DetailsNEW DELHI: India is likely to tweak the Insolvency and Bankruptcy Code to create a mechanism to resolve cross-border insolvency cases using a reciprocal arrangement with other countries. The 14-member high level committee reviewing the Insolvency and Bankruptcy Code (IBC) is likely to suggest that India take a cue from countries including the US, the…
DetailsThe expected rise in US interest rates will increase financial pressures on developing countries already struggling with a 60% jump in their debt repayments since 2014, a leading charity has warned. The Jubilee Debt Campaign said a study of 126 developing nations showed that they were devoting more than 10% of their revenues on average…
DetailsThis month is an important reminder of South Africans human rights, and rightfully so. But, if there is one thing that the South African consumer should take note of, is their rights as consumers, which is celebrated on World Consumer Rights Day on the 15th of March. Consumers are primarily responsible to not only make…
DetailsGaurav Dalmia March 18, 2018 In politics, it is often said, it usually takes a decade to get a years work done, but sometimes one gets a decades work done in a year. Initiatives taken in Indias fight against corruption are equivalent to what would have been a decades work in normal times. The most recent of…
DetailsThe accounting watchdog is expected to announce an investigation into potential misconduct by two former finance directors at Carillion, the failed government contractor. The Financial Reporting Councils conduct committee is understood to have agreed that there are sufficient grounds for a probe into the conduct of Richard Adam and Zafar Khan. An announcement is expected…
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