A junior oil and gas company in Calgary is blaming an order aimed at protecting a rare Prairie bird for its insolvency. LGX Oil + Gas says its daily operations and drilling plans were significantly disrupted when an emergency order under the federal Species at Risk Act took effect in February 2014 that protects the…
DetailsSome of those changes are obvious: there are many new faces in the executive suite since North Tide Capital first pushed for the ouster of then-CEO Ben Leedle. The company has announced a $25 million restructuring effort that includes transition from five markets to two distinct business units, and it recently leased a full floor…
DetailsTalie Croad says it is tempting to get into more debt once you feel more in control. Talie Croad had racked up $13,000 in consumer debt when she decided something needed to be done about it. There was money owing on a Q Card, credit cards, a personal loan and smaller amounts due to people she knew.…
DetailsIt’s the end of an era: after weeks of uncertainty, today BHS’ administrators finally announced they were calling time on the sale of BHS – without a buyer. That could mean the disappearance of one of the high street’s biggest names, with all 163 stores closing. Not surprisingly, given the size of the collapse – some…
DetailsTOKYO — Toshiba Tec plans to close units marketing point-of-sales systems and cut jobs in the business at a cost of roughly 2 billion yen ($18.4 million) this fiscal year. The subsidiary of Japanese conglomerate Toshiba will accelerate reorganization efforts to deal with shrinking investment by U.S. retailers and unfavorable exchange rates. Toshiba Tec will shut…
DetailsThe Consumer Financial Protection Bureau will propose new federal limits today on payday and auto title loans to help borrowers avoid what the agency says is often a “debt trap” for millions of Americans. The federal agency, which was created by the Dodd-Frank law adopted by Congress in 2010 in the wake of the financial…
DetailsOn Thursday, KoreConX announced its new program that helps equity and debt crowdfunding platforms go truly global by accessing Chinas accredited investor base and companies in need of funding. The program, Going Global Solutions, provides portals with a feasibility study of the marketplace, recommendations regarding the legal and regulatory framework, technology deployment requirements, and operations and support.President and CEO of…
DetailsJune 2nd, 2016 Holly Birkett Dry Cargo, Europe, Finance and Insurance 0 comments Klaipeda County Court decided to declare the company declared Lithuanian Shipping Company bankrupt on May 30 and the company has gone into liquidation. The companys creditors will meet with its bankruptcy administrator in Vilnius on June 10 to discuss the liquidation process, claims and…
DetailsSalisbury BHS to close as company goes into liquidation SALISBURY will lose one of its largest retailers as BHS goes into liquidation. The department store chain will close, resulting in the loss of up to 11,000 jobs nationwide, after administrators failed to find a buyer for the company. The announcement came at just after 2pm…
DetailsCambridge UK industrial technologies business Johnson Matthey is predicting that performance for 2016-17 will be ahead of last year as a result of a major restructuring that has clipped costs by £34 million. Its divisional overhaul is already paying dividends, according to chief executive Robert MacLeod. He said the performance in challenging markets in the…
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