ZURICH (Reuters) – Swiss airline Belair, formerly part of collapsed low-cost carrier Air Berlin (AB1.DE), has been taken over by German investment company SBC. SBC, based in Duesseldorf, said on Monday it wanted flights to resume as soon as possible and former Belair staff would be offered their jobs back after it made a deal…
Detailsby Kate Holton UK contractor Carillion collapsed when banks triggered Britain’s biggest corporate failure in a decade, forcing the government to step in to guarantee public services from school meals to roadworks. The 200-year-old business went into compulsory liquidation at 0600 GMT (5pm AEDT on Monday) after costly contract delays and a slump in new business…
DetailsThe government plans to reduce its foreign debt and raise capital through the issuance of bonds, a representative of the Ministry of Economy and Finance has unveiled. Increasing local borrowing instead of foreign borrowing will improve the countrys trade balance and current account, said Vong Seyvisoth, Secretary of State at the Ministry of Economy and…
DetailsGCC countries were able to avert an otherwise sharper deterioration in their international reserves on the back of an increase in oil prices and a subsequent positive impact on current account balances, Moody’s Investors Service said on Monday. Large sovereign external debt issuance valued at $49.3 billion in 2017, up more than $10 billion from…
DetailsRecent interest hikes have Albertans increasingly worried they won’t be able to cover their monthly expenses, according to a survey by the national personal insolvency firm MNP Ltd. The consumer debt index conducted by Ipsos for MNP found that 31 per cent of Albertans are unable to afford their monthly bills and debt obligations an…
DetailsDavid Birne, insolvency partner at chartered accountants H W Fisher & Company said in a statement that it is extremely unusual for a company of Carillion’s size to opt for liquidation rather than administration. “It suggests there is little, if anything, of value within the company to be saved. Almost every big insolvency in…
DetailsNone 17:26 15.01.2018 The forensic audit of Bank Khreschatyk, which was declared insolvent in April 2016, testifies to the complicity of the bank managers and owners to losses amounting to more than UAH 2.5 billion, according to the Individuals’ Deposit Guarantee Fund’s website. According to the report, the forensic audit of the bank was conducted…
DetailsOn Jan 15, we updated the research report on diversified industrial goods manufacturer 3M Company (MMM – Free Report) . The companys brands like Nexcare, Post-it, Scotch, Scotch-Brite, ScotchBlue and Filtrete are well recognized names in each household while being market leaders in their respective product categories. With continuous product innovations and investments in R&D,…
DetailsThe UKs Pension Protection Fund (PPF) is preparing to take on pension schemes linked to UK construction company Carillion, which entered liquidation this morning. The companys management were in talks with lenders and stakeholders over the weekend in a bid to save the company, but these failed. Carillion had a combined debt of more than…
DetailsVideo PlayerClose RIGA, Jan. 15 (Xinhua) — The Latvian government’s talks with the potential investors of ailing steel firm KVV Liepajas Metalurgs has failed because it has now been decided to split the company’s assets and auction them off. KVV Liepajas Metalurgs is a firm based in the southwestern Latvian port city of Liepaja. Guntars…
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