Twenty-four firms had expressed interest in submitting resolution plans for the four companiesAdhunik Metaliks, Orissa Manganese & Minerals, Zion Steel and Adhunik Alloys & Power. As many as eight entities, including Edelweiss Asset Reconstruction Company and SREI Infrastructure Finance, have submitted their proposed resolution plans for four bankrupt Adhunik Group companies, which are under the…
DetailsMehreen Khan and Jim Brunsden in Brussels January 22, 2018 EU creditors are to start sensitive talks on how to structure possible debt relief for Greece as Athens eyes an exit from eight years of international bailouts this summer. Eurozone finance ministers praised the Greek governments latest reform attempts in a meeting in Brussels on…
DetailsThe move was quickly decried by the solar industry, which said the tariffs would create a “crisis” and cost thousands of US jobs and billions in investment without helping domestic suppliers meet rising demand. US Trade Representative Robert Lighthizer said the tariffs were imposed after an “exhaustive” review by USTR and the independent US International…
DetailsJustin Merriman | Bloomberg | Getty Images Signage is displayed at the FirstEnergy Corp. Bruce Mansfield coal-fired power plant in Shippingport, Pennsylvania. FirstEnergy‘s stock price soared on Monday after the embattled utility announced an investment from well-known investors that will help underwrite its planned business transformation. Shares of FirstEnergy were up more than 12 percent…
DetailsTween accessories company Claire’s, the go-to destination for ear piercing, has hired investment bank Lazard to help address its roughly $2.2 billion debt load, the company announced on Monday. “We believe this is the right time to undertake this initiative and we want to assure our vendors, employees and stakeholders that we believe we have…
DetailsMehreen Khan January 22, 2018 EU creditors will begin long-awaited talks on Greek debt relief as they prepare to sign off on one of the countrys last remaining hurdles under its 86bn bailout. Mário Centeno, president of the eurogroup of eurozone finance ministers, said EU institutions will now explore how to link Greek debt relief…
DetailsHELSINKI, Jan 22 (Reuters) – Europes next financial crisis may be averted with the help of a new safe asset aimed at breaking a vicious circle of lending by banks to their national governments, the man in charge of creating it said on Monday. Philip Lane, the head of a taskforce working on a synthetic…
Details* Lawmaker group says stronger action is required * FCA says cant go further without new law * Small business lobby calls for new dispute body (Adds lawmaker, small business reaction) By Huw Jones LONDON, Jan 22 (Reuters) – More companies should be allowed to complain to the Financial Ombudsman Service to seek redress if…
DetailsManoj Kumar The Insolvency and Bankruptcy Code (IBC) stands out among the series of reforms the present government has brought about as the Indian banking system juggles with the huge pile of non-performing assets (NPAs) of over Rs 8 lakh crore. However, as in the case of any new law, the IBC too has certain loopholes…
DetailsFour Malaysian men have been arrested over allegations that they duped and drugged a Chiang Mai resort owner so he would lose over Bt10 million at a gambling table which they denied, Tourist Police deputy chief Pol Maj-General Surachet Hakpan told the press in Bangkok on Monday. Suspects Ng Ah Hing, 47, Loh Chuck…
Details