The logo of Xerox company is seen on a building in Minsk, Belarus, March 21, 2016. Reuters/Vasily Fedosenko Printer and copier maker Xerox Corp reported a higher-than-expected quarterly profit as restructuring efforts ahead of its planned split into two companies helped cut costs. The company, which is splitting to separate its printer business from its…
DetailsAustralia’s corporate watchdog has alleged internet search company Uglii’s multibillion-dollar earnings projections are a sham and the existing managers should be removed to protect shareholders and creditors. Counsel for the Australian Securities and Investments Commission, Michael Pearce, QC, told a Federal Court hearing on Friday the Victorian firm was a house of cards built on wildly inflated and…
DetailsUK parliamentarians have criticised as wholly inadequate attempts by the former owner of retailer BHS to address the companys pension deficit and called for significant contributions to address the schemes underfunding. Philip Green was the focus of the parliamentary investigation into the retailers insolvency earlier this year, which followed Greens sale of BHS to Retail…
DetailsNotorious gambling figure Eddie Hayson has claimed that a $2000 cash deposit he made into the betting account of News Corp journalist Phil “Buzz” Rothfield was for NRL tickets. This version conflicts with the account provided to Fairfax Media by Rothfield, the sports editor-at-large at The Daily Telegraph and Sunday Telegraph. News Corp journalist Phil ”Buzz” Rothfield. Photo:…
DetailsBy Siddhartha Thyagarajan & Kabir Narang The Indian governments attempts to ease doing business currently seem one-sided. Facilitating market entry and tearing down barriers to production and trade are just one side of the coin. The other involves allowing defunct, unhealthy firms to seamlessly exit the market, where they can easily liquidate their assets. The current…
DetailsThe total number of company insolvencies fell in the second quarter of this year. Despite a small rise in the first quarter of the year, the numbers remain at pre-recession levels., according to Insolvency Service figures. The latest figures show that an estimated 3,617 companies in England and Wales became insolvent between April and June…
DetailsROD Culleton says hes not a racist and nor is Pauline Hanson and hes also not a criminal – never has been one and never will be. Mr Culleton is confident of taking the 11th WA Senate position for Ms Hansons One Nation party when polls are declared early next week, representing a major upset…
DetailsSoaring college costs and rising student loan debt are huge issues in this year’s presidential election. Right now, Americans carry nearly $1.4 trillion not million or billion, but trillion in student-loan debt, according to MarketWatch. That number grows by $2,726 every second. What’s even more alarming is that students with small amounts of student debt…
DetailsBenelli were declared bankrupt despite the company’s insistence it isn’t Related stories Tuesday, 26, Jul 2016 10:57 by Joe Jeffrey Court declares manufacturer bankrupt despite company’s insistence they’re not An Italian court has taken the step of declaring motorcycle manufacturer Benelli bankrupt in a ruling which followed the company failing to pay a debt to…
DetailsJames Hurley, Enterprise Editor The number of people being declared insolvent has risen by more than a fifth. In the second quarter 22,503 people were made insolvent, 22 per cent higher than the same period in 2015, and a 6.9 per cent increase on the first three months of 2016. It was the fourth quarterly…
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