HONG KONG (AFP) – Pre-tax profit at banking giant HSBC leapt fivefold in the third quarter to US$4.6 billion (S$6.28 billion), the company said on Monday (Oct 30), as business booms in Asia and a huge restructuring drive bears fruit. The massive jump in pre-tax profits came weeks after a new chief executive was unveiled…
DetailsRUGBY UNION: Peter Kurtz admits the enormity of being named Australian rugby’s top volunteer is still sinking in. The Biloela club stalwart was named the HSBC Volunteer of the Year at the Rugby Australia Awards at Royal Randwick in Sydney on Thursday night. He received the accolade at the gala ceremony in front of a…
DetailsEMBATTLED law firm Slater & Gordon (ASX: SGH) has called on its shareholders to vote in favour of a recapitalisation of its “unsustainable debt levels” otherwise it will become insolvent. Slater & Gordon says it owes a total of $761 million, as of 30 June 2017, which it cannot pay down and the debt…
DetailsInitially, the departure of Lionsgate COO of International Andrew Kramer from the companys Motion Picture Group last week was reported as the byproduct of restructuring prompted by the hiring of the Groups new co-president Joe Drake. However, according to The Hollywood Reporter, Kramers departure also reportedly follows an incident of alleged sexual-harassment against a female…
DetailsState-owned Andhra Bank has dragged Housing Development & Infrastructure (HDIL) to the National Company Law Tribunal (NCLT) in an insolvency petition because the Mumbai-based real estate developer failed to pay back Rs 55 crore invested by the bank in the company’s non-convertible debentures (NCDs). The petition filed by law firm MDP & Partners on behalf…
DetailsBy Ginger Gibson and David Gaffen Puerto Rico governor calls for cancellation of Whitefish contract WASHINGTON/NEW YORK (Reuters) – Puerto Rico’s government power company said on Sunday it will cancel a $300 million contract with a tiny Montana company to restore power to the storm-hit U.S. territory after an uproar over the deal. The contract…
DetailsEarlier this month the bosses of seven of the UKs largest wholesalers argued that the deal threatens the survival of the independent retailer and called on the CMA to block the deal. The wholesalers, which include the countrys largest buying group Todays Wholesale Services, Spar, Bestway, Bidfood, Landmark, Confex and Sugro, argued that the Booker…
DetailsBy Ginger Gibson and David Gaffen WASHINGTON/NEW YORK (Reuters) – Puerto Rico’s government power company said on Sunday it will cancel a $300 million contract with a tiny Montana company to restore power to the storm-hit U.S. territory after an uproar over the deal. The contract between Whitefish Energy Holdings and Puerto Rico’s bankrupt power…
DetailsDefence lawyer Kim Moloney said Sweeney has been battling a gambling addiction. A young man turned to shoplifting in an attempt to pay off his mounting gambling debts, a court heard. Martin Sweeney (22) planned to sell the cosmetics he stole, but he was caught red-handed by security staff as he left a south Dublin…
Detailsby Rana Foroohar Does corporate governance matter? Or, to be more precise, do investors really care about it? This is a question that I have been pondering for two reasons. First, huge amounts of passive investment has made questions about corporate decision making irrelevant for many investors. When you are just tracking the index, you…
Details