Oct 14, 2016 7:01 AM [NEW YORK] Electronics maker HP Inc on Thursday said it expected to cut 3,000 to 4,000 jobs over the next three years as part of a restructuring plan adopted earlier this week. The plan should generate gross annual savings of US$200 to US$300 million beginning in 2020 but will also…
DetailsMany people who take out loans to pay off credit cards and other obligations wind up worse off, with more debt and more stress than before they applied. Some people, though, successfully use debt consolidation loans to turn a bad financial situation around. Emilie Burke of Raeford, North Carolina, is doing just that. Burke, a…
DetailsTOKYO, Oct 13, 2016 – (JCN Newswire) – Mitsubishi Corporation (MC) has reached an agreement with partners Mitsubishi Motors Corporation (MMC), Mitsubishi Fuso Truck & Bus Corporation (MFTBC), and Indonesia’s PT Krama Yudha (KY) regarding the restructuring of their automotive business in Indonesia. MMC and MFTBC products are currently manufactured and distributed in Indonesia…
DetailsThe pensions lifeboat that was BHSs biggest creditor when it collapsed into administration is demanding the companys imminent liquidation in a bid to accelerate investigations into former directors. Sky News has learnt that the Pension Protection Fund (PPF), which has taken on responsibility for paying retirement benefits to thousands of former BHS employees, has told…
DetailsAnthony Hodges, a Basingstoke-based IT consultant, has been barred from acting as a company director for eight years due to mischief undertaken as his company went into liquidation. Investigating the demise of management consultancy Hodges & Coley, of which Hodges was the sole director, the Insolvency Service said it had discovered that he had failed…
DetailsOctober 13th, 2016 Holly Birkett Asia, Finance and Insurance, Offshore 0 comments Malaysian oil and gas company Perisai Petroleum Teknologi has declared itself insolvent and has been classified as a Practice Note 17 (PN17) company. On Tuesday, the company disclosed it is unable to pay the principal and interest of the S$125m ($91.9m) bond issued by its…
DetailsComments (0) Lisa Thomas, insolvency practitioner at Neville & Co looks at the importance of adequate protection for customer’s deposits One of the first questions we are often asked by directors of a company in trouble is: “Will I get disqualified from being a director?” It is actually a rare occurrence to be banned as a…
DetailsBy Tracy Rucinski and Jim Christie (Reuters) – Former telecommunications equipment company Nortel Networks Ltd reached an agreement with their various business units on Wednesday to divvy up the $7.3 billion raised from liquidating the failed company, paving the way for pensioners and creditors to get paid after a seven-year wait. Ontario-based Nortel stumbled from…
DetailsThis article first appeared in The Edge Financial Daily, on October 13, 2016. KUALA LUMPUR: Perisai Petroleum Teknologi Bhd, which became the first Malaysian oil and gas (O&G) company to fall victim to the slump in oil prices, has declared itself insolvent, after it could not pay the principal and interest of the S$125 million…
DetailsThe Laughing Samoans/YouTube The Laughing Samoans play ‘Piggyback’ The Laughing Samoans will continue to entertain despite one half of the comic duo being declared bankrupt. The Wellington act, performed by Eteuati Ete and Tofiga Fepulea’i, are a popular live comedy act. The pair, who started performing in 2003 and have a show on Ma… Read the…
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