Oct. 12, 2016 7:27 a.m. ET The worst may be over for global gambling capital Macau, yet not every casino is in line to win big. The number of Chinese visitors to the gambling hub rose 7% from a year ago during the just completed weeklong holiday celebrating Chinas National Day. Gross gambling revenue in…
DetailsBUSINESSES remain concerned about the upcoming changes with Brexit, but insolvency numbers have fallen during this third quarter. According to a survey from Pinsent Masons, 62% of the UK insolvency industry believe that Brexit will lead to an increase in business failures over the next year. However, new analysis from KPMG has showed that despite economic…
DetailsThe Insolvency Service of Ireland (ISI) has welcomed Abhaile the new Mortgage Arrears Resolution Service which was officially launched by the Tánaiste and the Minister for Social Protection recently. The purpose of the Service is to help people in serious arrears to find the best available solutions, with the help of professionals who have expert…
Details* EU policymakers examine sovereign bond-backed security * Author of proposal says central bank could issue bond * Securitised model should soothe German resistance By John Geddie LONDON, Oct 12 A bond backed by a mountain of euro zone government debt accumulated by the European Central Bank in its latest stimulus programme could provide a…
Details* EU policymakers examine sovereign bond-backed security * Author of proposal says central bank could issue bond * Securitised model should soothe German resistance By John Geddie LONDON, Oct 12 A bond backed by a mountain of euro zone government debt accumulated by the European Central Bank in its latest stimulus programme could provide a…
DetailsChina Construction Bank Corp., the nations second-largest lender, said it plans to raise 24 billion yuan ($3.6 billion) with Wuhan Iron & Steel Group for a fund that will help lower the unprofitable Chinese steelmakers debt levels. The two companies have already raised 12 billion yuan in the first stage of fundraising after reaching an…
DetailsThe Hong Kong government is right to draw a link between innovation, international competitiveness and future prosperity. Chief Executive CY Leung believes innovation enhances quality of peoples lives and supercharges our economic engine. In competition with markets like Singapore, he wants to win the race to develop high value-added innovation and technology industries and make Hong…
DetailsSlater and Gordon is facing a $250 million class action from Maurice Blackburn. Listed law firm Slater & Gordon is facing a class action that is $100 million bigger than its market cap, but it is unlikely to drive the law firm to insolvency, says Maurice Blackburn. On Wednesday, Maurice Blackburn filed a $250 million class action on…
DetailsFacts Decision Comment A recent Supreme Court judgment addressed the issue of maritime liens and the remuneration of shipping companies’ court-appointed managers by adopting a strict interpretation of the maritime liens rules. According to such interpretation, judicial managers should not be considered a company’s preferred creditors for their remuneration. Facts The court appointed two…
DetailsKUALA LUMPUR, 8 Oct 2016: Poor financial management resulted in 22,663 Malaysians under the age of 35 being declared bankrupt between 2011 and September 2015, according to the Malaysian Financial Planning Council (MFPC). Deputy president Michael Kok Fook On said this group of people fail to manage their financial resources and do not understand the importance of proper…
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