* Kasikorn to cut two additional rates by 25 bps * Follows cuts to another rate by nation’s top four lenders * Rate cuts aimed at helping debt-laden small businesses (Recasts headline) By Khettiya Jittapong and Manunphattr Dhanananphorn BANGKOK, April 22 Two of Thailand’s biggest banks said they plan to cut more lending rates, seeking…
DetailsDespite a huge global glut that led to defaults, closures, and enormous operating losses for producers, Chinese steel prices have been on a tear in 2016. The rise has been buoyed by lower-than-normal inventory levels, seasonal restocking, producers bringing forward production ahead of government-enforced curtailment later this month, plus a surge in Chinese construction activity.…
DetailsGov. Kenneth Mapp wants the Legislature today to designate $8 million from a recent court settlement to help reduce the long-overdue power bills owed by the territorys two hospitals. Mapp said Luis Hospital on St. Croix owes the V.I. Water and Power Authority $12,085,850.64, while Schneider Medical Center owes $8,832,392. These two institutions continue to…
DetailsWASHINGTON, DC Once again, Greece is at an inflection point. With its cash balances severely stressed, it seems unlikely to be able to pay the cascading debt payments that are falling due over the next few months. So yet another round of contentious and protracted discussions with its creditors is underway one that may well…
DetailsCreditors of Clive Palmer’s Queensland Nickel have voted to liquidate the company, a fortnight after administrators made the recommendation amid crippling debt. Key points: Liquidation move will allow pursuit of any Clive Palmer debts Administrators urged liquidation in report earlier this month Sacked workers among creditors voting to liquidate Creditors, including 800 sacked workers,…
DetailsNEW corporate insolvency statistics from accountancy firm KPMG show a marked increase in the number of businesses failing in Scotland during the first quarter of 2016. Between January and March this year, total insolvency appointments rose by 10 per cent from 188 to 206 compared to the same three months in 2015. The increase is…
DetailsWhile Japan was making headlines for negative interest rates, regulators may have quietly handed yields on a plate to bond investors. Mitsubishi UFJ Financial Group issued $2 billion of notes in a three-part sale Wednesday at a yield premium some 25 basis points higher than what similar notes from its operational unit, Bank of Tokyo Mitsubishi, were offering in the…
DetailsNEW corporate insolvency statistics from accountancy firm KPMG show a marked increase in the number of businesses failing in Scotland during the first quarter of 2016. Between January and March this year, total insolvency appointments rose by 10 per cent from 188 to 206 compared to the same three months in 2015. The increase is…
DetailsGreece’s Prime Minister Alexis Tsipras: “Greece, in this last turn, needs a push forward not backwards.” Photo: AP Greek Prime Minister Alexis Tsipras on Thursday rejected the idea of more austerity measures and called for debt relief instead after the European Commission said Greece’s fiscal performance was better than expected last year. Economic progress has…
DetailsIntroduction Alert procedures Introduction On January 28 2015 the minister of justice set up the Rordorf Commission, a ministerial commission to develop and submit draft legislation designed to reform, review and reorganise the rules governing insolvency procedures in Italy. On December 29 2015 the Rordorf Commission completed its proceedings and submitted a draft statutory instrument…
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