After weeks in the wilderness, contractors and suppliers affected by the collapse of Home Australia are hoping for answers. Key points: Creditors’ meetings are being held to discuss financial situation of each Home Australia subsidiary Home Australia’s subsidiaries owe a total $37.7 million Those left out of pocket by the company’s collapse say they…
DetailsANZ Bank is considering selling off key parts of its wealth management business after it launched a strategic overview of the business because of disappointing returns. Announcing an 18 per cent fall in profit to $5.9 billion, due to one-off charges that had previously been flagged, it said the wealth review kicked off earlier this year had found…
DetailsA rural farm-based restaurant in Pudong New Area was reported to operate gambling activities in its basement. On October 9, a gambler contacted local police claiming that he had lost his savings and was in debt after gambling at the site for one month, the Metro Express reported. The police quickly carried out measures to…
DetailsThe Wall Street Journal is changing the formatting of its print edition, combining sections and reducing the size of some coverage areas, The Journal itself reported Wednesday. The Journal will cut some of its coverage of arts, culture, and local news, but will have about the same amount of space for business and finance. There…
DetailsPost Newspapers Editor in Chief Fred Mmembe has come out of the woods to hit back at the High Court notice for the liquidation of the publication. Mmembe labelled the process corrupt and also said the employees in whose name the court action was taken left the company on their own accord without making any…
DetailsThe Wall Street Journal is changing the formatting of its print edition, combining sections and reducing the size of some coverage areas, The Journal itself reported Wednesday. The Journal will cut some of its coverage of arts, culture, and local news, but will have about the same amount of space for business and finance. There…
DetailsEver since the U.S. Federal Reserve raised interest rates by 0.25% in the long-awaited lift-off of December 2015, financial markets have been fixated on the timing of the central banks next increase, micro-analyzing policy makers comments that are difficult to interpret amid shifting economic signals. Meanwhile, the economic hardships caused by seven ye… Read the…
DetailsThomson Reuters Corp. said on Tuesday it will lay off about 2,000 workers, and sustain a charge of up to $250 million in the current quarter, connected to a “transformation” of its business. The company, which provides news and information services to professionals, also reported flat revenue and lower profit for the quarter. Thomson Reuters…
Details(Shanghai) Creditors of Guangxi Nonferrous Metals Group have vetoed an insolvency plan in a case that shows the obstacles that state-owned enterprises (SOEs) face as they try to complete the bankruptcy process. In the plan, the firm’s bankruptcy administrators proposed auctioning, presumably at a discount, not only the equity stakes the parent has in its…
DetailsST. LOUIS–(BUSINESS WIRE)–Emerson (NYSE: EMR) today reported results for the fourth quarter and fiscal year ended September 30, 2016. As a result of pending divestitures, results for our historical Network Power segment and for the Leroy-Somer and Control Techniques businesses previously included in our historical Industrial Automation segment are now being reported as discontinued operations.…
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