Having announced Voluntary Retirement Scheme or VRS for its employees recently, Tata Motors said that it has reduced its managerial workforce domestically by 10-12 per cent as part of an organisational restructuring exercise. The Indian automaker declared its financial results for the fourth quarter of 2016-17 and that’s where the company Managing Director and CEO…
DetailsHigh-profile fashion retailer Topshop Australia has collapsed under debts and entered voluntary administration, with the future of its stores and workers under a cloud. Administrator James Stewart, of Ferrier Hodgson, said the company would continue to trade as normal while it considered its “optimal operating structure”. Topshop Australia franchisee Hilton Seskin. Photo: Simon Schluter “It will…
DetailsLONDON Marks & Spencers bottom line pre-tax profit tanked by 63.5% last year, as the struggling department store spent hundreds of millions on a turnaround plan and clothing sales continued to decline. Marks & Spencer published its full-year results on Wednesday for the 52 weeks to April 1. Here are the key figures: Revenue: Up…
DetailsFormer young rich-listed coal mining entrepreneur and now bankrupt, Nathan Tinkler has been banned from managing businesses in Australia due to his involvement in the collapse of 11 companies. Key points: Mr Tinkler, a former BRW young rich lister, enjoyed a net worth $600 million in 2010 He and two associates breached directors’ duties…
DetailsFormer Newcastle-based mining magnate Nathan Tinkler.Picture: AAPIMAGE Bankrupt former coal baron Nathan Tinkler and two of his closest business allies have been banned from managing a company for at least three years for their roles in the collapse of several businesses. The Australian Securities and Investments Commission has disqualified Mr Tinkler and Troy Palmer, the…
DetailsChina and the Philippines have joined forces to tackle illegal gambling, part of Beijing’s broader campaign to curb illicit capital outflows and a pledge by Manila to weed out unscrupulous operators from the country’s booming gaming industry. The coordinated crackdown comes amid warming ties between Chinese President Xi Jinping and his Philippine counterpart Rodrigo Duterte,…
DetailsBankrupt former coal baron Nathan Tinkler and two of his closest business allies have been banned from managing a company for at least three years for their roles in the collapse of several businesses. The Australian Securities and Investments Commission has disqualified Mr Tinkler and Troy Palmer, the former chief executive of Mr Tinkler’s Hunter…
DetailsDavid Koch explains some easy, no brainer money saving tips. Financial Counselling Australias chief executive officer Fiona Guthrie said gambling remained a problem. A MAJORITY of Australians gamble every week and are blowing thousands of dollars a year in the hope of winning cash, alarming new statistics have revealed. Experts have blamed the boom in…
DetailsThe average college student graduates with $38,000 in debt from student loans, so it’s no wonder new companies are now promising help with those loans by reducing or even getting rid of them. But the 5 On Your Side Investigates team found that the “help” may just be a scam. Three years ago, Hilary Fields…
DetailsMay 23, 2017 1:41 pm EDT By Ashlee Kieler@akieler scamalamadingdong debt relief Scheme Operation federal trade commission State of Florida investigation putting a stop to it A phony debt relief operation that bilked tens of millions of dollars from individuals including the disabled and elderly based on the promise it could lower their debt burden…
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