Microsoft has announced that it is restructuring its smartphone business, laying off 1,850 employees associated with its hardware division. The move will impact 1,350 jobs at Microsoft’s Finland unit, and an additional 500 jobs globally. Microsoft will undertake an impairment and restructuring charge of $950 million, of which $200 million is earmarked for severance payments.…
Florida Attorney General Pam Bondi said, “The Federal Trade Commission has been a steadfast partner in our consumer protection enforcement efforts. These latest joint actions will help protect Floridians, as well as many across the country, from these companies’ unscrupulous debt relief operations and ensure that those responsible will be held accountable.” Consumer Assistance Project…
Updated May 25, 2016 5:02 p.m. ET WASHINGTONA senior International Monetary Fund official Wednesday said it cant help Europe with fresh emergency financing for Greece because Athenss creditors havent yet committed to detailed debt relief. The comments show that the agreement touted by European finance ministers last night to release fresh bailout cash for Greece…
WASHINGTON — Legislation giving Puerto Rico the ability to restructure its $70 billion in debt overcame a major hurdle on Thursday, passing out of committee in the House. The House Natural Resources Committee approved the bill, which would establish an oversight board to help the commonwealth restructure its un-payable debt and craft an economic recovery…
Updated May 25, 2016 5:04 p.m. ET Golf star Phil Mickelsons appetite for risk helped propel him to three Masters titles, but it also may have been a driver of the gambling that brought him unwelcome headlines and put him in direct contact with people who were allegedly engaging in illegal behavior. Twice in the…
Euro zone governments on Wednesday offered Greece debt relief in 2018, but left key details for later in a bid to bridge Germany’s view that no immediate action was needed and the International Monetary Fund’s call for decisions now. The late-night compromise spared the battered European Union the risk of another Greek crisis this year,…
D.C. Attorney General Karl Racine, center, filed a lawsuit against a Florida-based student debt relief company. (Astrid Riecken/For The Washington Post) District Attorney General Karl A. Racine on Wednesday filed a lawsuit against Student Aid Center, a Florida-based debt relief company, and its owners for misleading area residents about the firms ability to lower student loan payments and…
At a meeting of euro-area finance ministers in Brussels on Wednesday that lasted late into the night, officials struck a preliminary deal with Greece to ease the countrys debt burden, paving the way for a 10.3 billion-euro ($11.5 billion) aid payout. While finance ministers called it a breakthrough deal, Greece is still on shaky terms,…
Greek Prime Minister Alexis Tsipras arrives to welcome Cyprus’ President Nicos Anastasiades at the Maximos Mansion in Athens, Greece May 25, 2016. Reuters/Alkis Konstantinidis A deal agreed by euro zone finance ministers offers Greece some help to ease its debt payments with the prospect of longer-term restructuring of its debt mountain, stretching official loans out…
Last-minute bid for BHS as liquidation threat looms 25 May 2016 From the section Business Image copyright Getty Images A consortium led by a former Mothercare boss is thought to be the frontrunner to rescue BHS. Greg Tufnell, brother of former England cricketer Phil Tufnell, is leading Richess Group, a newly formed vehicle. Other bidders,…