Retail billionaire Sir Philip Green has been savaged by MPs in a report into the collapse of department store BHS, which he owned from 2000 until March last year. The Work and Pensions Committee and the Business, Innovation, and Skills Select Committee have been holding a joint inquiry into the collapse of BHS, which fell…
DetailsThe company has around $6bn of claims against it collapsed in 2009 By Reuters 51 mins ago Ahmad Hamad Algosaibi and Brothers (AHAB) have signed a deal with a committee representing creditor banks to restructure the Saudi Arabian family conglomerates debt pile, it said in…
DetailsWoolworths has revealed 500 jobs will go in back office and supply roles as part of an overhaul of its business amid tough competition in the retail industry. Key points: 27 stores and three hotels to close, with five Big W stores “likely to close” Another 34 underperforming stores may not have their leases…
DetailsChinas national team is getting bigger. After stepping into the currency and equity markets repeatedly over the past year to stem declines, government-linked entities are now spurring capital inflows by raising money offshore and bringing it home. Sales of dollar bonds by some of Chinas biggest state-run firms rose to a record $18.7 billion in…
DetailsWoolworths is cutting 500 jobs, closing 30 stores and looking to sell EziBuy as the struggling supermarket chain pushes ahead with a major restructure. The moves to make to supermarket chain more efficient will mean restructuring costs of $959 million to be recognised in the 2016 financial year results. CEO Brad Banducci says the turnaround…
DetailsGRACE Mugabe turned 51 Saturday to gushing praises from officials and insolvent government owned companies while the State media published a 12-page supplement in her honour. The Herald supplement carried adverts from struggling parastatals, which had been asked to pay for advertising despite the country’s crippling economic crisis. For the second year…
DetailsComo have been declared bankrupt due to debt payments but are hoping to appeal the decision. After putting an end to a 12 year-wait for a return to Serie B, Como were unable to sustain their position in the 2nd tier of Italian Football and are now struggling with an even bigger issue than trying…
DetailsIf you want to understand how China is changing the world economy with international acquisitions mushrooming wherever you look, you might choose to look at chemicals, or engineering, or smart phones and e-commerce, or wind and solar power, but to be different, lets look at football. After all, in the lull between Portugal spluttering to…
DetailsROCKFORD The owner of a Rockford amusement gaming company is suing a firm he did business with and the Illinois Gaming Board following his arrest on felony charges of possessing illegal gambling machines. Richard E. Grap was charged in May after gaming agents discovered as many as 40 gambling machines in a…
DetailsUpdated July 22, 2016 2:36 p.m. ET More than 120 Hastings Entertainment stores are set to begin going-out-of-business sales this weekend after a pair of liquidators won court approval to buy its assets. The joint venture between Hilco Merchant Resources LLC and Gordon Brothers Retail Partners received approval on Thursday from a judge in the…
Details