As Intel embarks on the move to eliminate around 12,000 jobs globally, close to 11 per cent of its global workforce, the chip maker’s operations in India may not be spared though the impact here might not be immediately felt. India is one of the important research and development (R&D) sites…
DetailsThe Greek economy is just one step away from a recovery but needs debt relief, not further austerity, to cross the finish line, Greek prime minister Alexis Tspiras has told Euronews. Pointing out that his governments economic perfomance has defied the critics, he said the economy is on the final bend and needs a boost…
DetailsEarly last year, at a royal encampment in the oasis of Rawdat Khuraim, Prince Mohammed bin Salman of Saudi Arabia visited his uncle, King Abdullah, in the monarchs final days before entering a hospital. Unbeknown to anyone outside the House of Saud, the two men, separated in age by 59 years, had a rocky history…
DetailsANALYSIS: The Turnbull government is playing the collapse of Clive Palmers nickel refinery for all its worth. The workers at Queensland Nickel are fortunate that the Fair Entitlements Guarantee (FEG) can now be activated. That will pay their entitlements and allow them and their families some financial support. It will allow them breathing space to…
DetailsIAIN MCGREGOR/FAIRFAX NZ Stonewood Homes was placed into receivership owing unsecured creditors $15m. Now the IRD has had two of its companies liquidated. Two Stonewood Homes companies owing more than $1 million in taxes have been placed in liquidation. Inland Revenue Department filed proceedings against Stonewood Homes New Zealand Ltd and Stonewood Homes Ltd, both in receivership, at the High Court in Christchurch on March…
DetailsOn Intels Tuesday earnings call, CEO Brian Krzanich explained why the company is restructuring, including laying off up to 12,000 employees. Basically, the PC business is hurting, and Intel knows it has to change fast to survive. Intel has typically been known as a PC company, Krzanich said. Now, its going to be focused around…
DetailsA committee set up to look into strengthening Singapore as an international centre for debt restructuring has made a slew of recommendations and is asking the public for their views on these proposals. These recommendations focus on three main areas: enhancing Singapore’s legal framework for debt restructuring, creating a restructuring-friendly ecosystem and addressing a perception…
DetailsPublished 21/04/2016 | 02:30 In the first three months of this year a total of 111 people were declared bankrupt. Picture posed THERE has been a surprise fall in the number of people being adjudicated bankrupt. Share Go To This is despite the bankruptcy term falling from three years to one year from January 29…
DetailsCONTROVERSIAL underground coal gasification company Linc Energy has gone into voluntary administration. In a statement to the ASX, the companys board said it was in the best interests of the company to make the move. It comes a month after Linc was charged with causing serious harm to the environment at its UCG pilot site…
DetailsThe Dodd-Frank Act requires big banks to write so-called living wills, but it turns out that large financial institutions are as reluctant as the rest of us to contemplate their own mortality. Credit Photograph by David Goldman / The New York Times / Redux One of the signal, but formerly obscure, achievements of the Dodd-Frank…
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