by Jonathan Woetzel China’s investment-led growth model has served it extraordinarily well, setting it on course to become one of the world’s advanced economies. Yet the strains associated with that approach have become evident. Since 2015 the country’s gross domestic product growth has dipped to 25-year lows, corporate debt has soared, foreign reserves have fallen…
DetailsMark Vandevelde and Naomi Rovnick in London February 28, 2018 Electronics chain Maplin collapsed into insolvency on Wednesday, making it the second retailer to succumb to a brutal winter for Britains consumer economy in the space of just over an hour. Graham Harris, who became chief executive only last month, said: I can confirm this…
DetailsA Lone Wolf MC drug dealer-turned-police-informant has told how a $76,000 debt prompted him to turn to his accused gun-runner friend. Strike force police pulled the informant, who can only be known as Mr Brown, out of a hotted-up car on Crown Street, Wollongong the afternoon of September 15, 2016. As passers-by stopped to stare, police placed him…
DetailsMUMBAI — The fierce competition and price war in India’s telecommunications sector has claimed another victim. Malaysia-based Maxis Communications’ India unit Aircel said Wednesday it had filed for bankruptcy in the local courts. The move by the last surviving small telecom operator signals that the end may near for industry consolidation triggered by the most…
DetailsHannah Murphy in London March 2, 2018 Beaufort Securities, the struggling City broker, has been declared insolvent by the UKs financial watchdog. The move came after the Financial Conduct Authority carried out an assessment of the finances of the small-cap stockbroker, which caters largely to retail clients, and Beaufort Asset Clearing Services, its corporate client…
DetailsNew Delhi, Feb 28 (PTI) Malaysian billionaire T Ananda Krishnans mobile firm Aircel today filed for bankruptcy protection from creditors, saying high debt and mounting losses, following a price war triggered by a new entrant, have led the company to troubled times. Aircel, 74 per cent owne New Delhi, Feb 28 (PTI) Malaysian billionaire T…
DetailsThousands of cash-strapped families have sought professional help from a charity after running up a £16.2 million mountain of debt in just 12 months. Staffordshire North and Stoke-on-Trent Citizens Advice Bureau (CAB) has blamed people’s personal debt problems on low wages and rising living costs. It has left many people unable to pay their rent…
DetailsToy store chain Toys R Us British division has filed for bankruptcy and that may put more than 3,000 employees in the United Kingdom out of work. The guardian hopes the chain can restart. Restart Toys R Us operates 105 stores in the United Kingdom and employs more than 3,200 people. The store network will…
DetailsWith continuing daily headlines in the news it can be difficult to resist Brexit fatigue, but with the UK government and EU representatives at a very sensitive stage in the negotiations regarding the terms of the UKs exit from the EU, it is worth focussing for a moment on a less publicised end of the…
DetailsMarch 1, 2018 Troubled telecom operator Aircel Ltd filed for bankruptcy Wednesday, the latest episode in Indias telecom consolidation, marked by exits, fire sales and mergers that began with the entry of Reliance Jio Infocomm Ltd. One of Indias oldest telecom firms, Aircel filed an application at the Mumbai bench of National Company Law Tribunal…
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