On 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…
A 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…
Published 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…
CONTROVERSIAL 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…
The 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…
As presidential candidates and pundits search for ways to curb student debt nationally, officials at one college are experimenting with a program to make a dent in the problem by helping to pay off the loans of its graduates. Washington College, a small liberal arts school in Chestertown, Md., run by Sheila Bair, former chair…
Lorcan OConnor, director of the ISI There was a 26 per cent increase in new applications for Personal Insolvency Arrangements (PIAs) in the first quarter of 2016, according to new figures. This years first quarterly statistical bulletin from the Insolvency Service of Ireland (ISI) recorded continued growth in new applications, protective certificates and approved arrangements.…
Fife-based Havelock Europa restricted its loss to £600,000 last year after a restructuring and right-sizing which saw more than 100 staff leave the company. The Kirkcaldy shop fitting and interiors firm announced a major cost-cutting exercise in September last year in a bid to save £3 million on an annualised basis. The move involved cutting…
The decision to extend student loans to vocational education and training will cause student debt to reach a staggering $11.1bn a year by 2025-26, a new report from the Parliamentary Budget Office (PBO) has shown. Related: Australian universities warn parties education policy chaos is harming students In April the PBO released figures that show the…
By Sridhar Ramachandran The buzzword now is the bankruptcy law. It is seen as a panacea for the problem of nonperforming loans, but it is a lot more than that provided the execution matches the intent. That workers claim is above the dues to state and any dubious transaction two years prior to bankruptcy with…