Interest rates have been low for so long that we forget the good things happening when they rise. In a massively indebted place like Canada, rising rates can fairly be described as trouble waiting to happen for both households and governments. But higher rates are caused by positive economic developments like a firming job market…
DetailsBonus payments to directors and former executives of collapsed construction company Carillion have been stopped and an agreement has been reached on safeguarding thousands of private sector jobs, the UK governments Insolvency Service said on Wednesday. Any bonus payment to directors, beyond the liquidation date, have been stopped and this includes the severance payments which…
DetailsThe group said it will reduce its five operating businesses to three core units, civil aerospace, defence and power systems, as part of a simplification of the business. At the same time, Rolls will begin a strategic review of its commercial marine operation, which supplies equipment and vessel design across oil and gas markets. The…
DetailsPeggy Hollinger, Industry Editor January 17, 2018 Rolls-Royce will consider selling its commercial marine business as chief executive Warren East launches the strategic phase of the blue-chip engineers two-year restructuring. Mr East said he was looking at the strategic options for the division as part of a wider shake-up that will reduce the number of…
DetailsThe court applied the principles outlined in the 1990 case of Guinness v Saunders rather than the more recent decision in Global v Hale in finding that the directors had acted in breach of their fiduciary duty to act in the best interest of the creditors. They misapplied the company’s assets for their own benefit…
DetailsQuestions over Cardiff Seafood Shack restaurant closure By Jenny Johnson BBC News 17 January 2018 Image caption Darryl Kavanagh set up the Seafood Shack restaurant in Cardiff’s High Street last year A Cardiff restaurant which reportedly closed after a cyber attack in December may have become insolvent two months earlier, it has been claimed. The…
DetailsChinas supreme court released a new interpretation of the countrys marriage law on Wednesday detailing how courts should handle debt dispute cases that usually involve divorced couples. In the document, the Supreme Peoples Court says that in cases where a loan was taken out under the name of one individual to cover costs beyond the…
DetailsAliya Ram and Cat Rutter Pooley January 17, 2018 Pearson, the UK educational publisher, expects profits next year to be lower than in 2017 because of costs from selling parts of its business and the impact of the weaker dollar against the pound. The FTSE 100 company forecast on Wednesday that this years profits would…
DetailsA HALESOWEN man who ran up a gambling site bill for more than £1,000 on a work mobile phone has been locked up for 10 months. Allan Clarke kept ringing a telephone gambling app and also ordered £4,300 worth of power tools on the company account and sold them on, said Andrew Wilkins, prosecuting. He…
DetailsLONDON (Reuters) – Pearson said it had seen no let up in the pressures weighing on its North American business as retail partners turned increasingly cautious when ordering books, sending its shares down more than 6 percent. In a full-year trading update, Pearson said sales in U.S. higher education course materials fell 3 percent on…
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