Two technicians adjust a robot at a high-tech enterprise in Chongqing. CHEN SHICHUANG / FOR CHINA DAILY Official rules out coercion but says troubled firms will be persuaded to consider the alternative option China will stick to market-based principles while promoting debt-to-equity swaps to tackle debt problems of companies, an official of the nation’s top…
The affable lefty golfer Phil Mickelson is a risk taker in golf. Avid golfers can recall Mickelsons drive on the 13th hole at Augusta National in the final round of the 2010 Masters that settled on pine straw. Mickelson fired a 6-iron between two trees and the ball landed on the green, setting up a…
Tapit Media Nearly two years after launching in Australia mobile CX company Geronimo, led by Amobee’s former MD Matt Hunt, has acquired Tapit Media; a global tech platform enabling Near Field Communications (NFC) for marketing. Hunt says NFC technology is a major growth area in mobile marketing and the deal brings proprietary technology, data and…
Image copyright Google Image caption Google My Business is a free service that helps firms control how they appear in search results A Manchester-based company that pretended it was linked to Google has been closed following an investigation by the UK’s Insolvency Service. The agency said Movette had used “deceptive methods” to bill clients for…
NEW YORK, Aug. 09, 2017 (GLOBE NEWSWIRE) — New York REIT, Inc. (NYSE:NYRT) (the “Company” or “NYRT”), which is liquidating and winding down pursuant to a plan of liquidation, announced today its financial results for the second quarter ended June 30, 2017. Financial Results Liquidation Basis of Accounting As a result of NYRTs shareholder approval…
As on 31 March, the consolidated debt of Jaypee Infratech was over Rs7,922 crore with a negative interest coverage ratio. Graphic: Ajay Negi/Mint Mumbai: The Allahabad bench of the National Company Law Tribunal (NCLT) on Wednesday admitted insolvency proceedings against Jaypee Infratech Ltd, one of the 12 companies referred to the tribunal following the Reserve…
Hyderabad: In a setback for city-based infra player Lanco Infratech, that has been saddled with a humungous debt of around Rs 43,000 crore, the National Company Law Tribunal (NCLT) has given its nod for initiating insolvency and bankruptcy proceedings against the company. Lanco Infratech on Wednesday informed the bourses that the NCLT, Hyderabad Bench, vide…
The worlds largest generic drug maker, Teva Pharmaceutical Industries Ltd. (NYSE: TEVA), is looking to sell its Medis business branch in order to help cut debts. After a poor second quarter results, which resulted in shares plummeting the past week, Teva is preparing to cut its debts down. Teva acquired Medis last year in a…
The once high-flying algae-based materials firm TerraVia has declared bankruptcy and plans to auction itself off. The only bidder to come forward so far is the Dutch food ingredients maker Corbion, which has made an offer of $20 million for the company. TerraVia began life in 2003 as Solazyme, aiming to commercialize biofuels made from…
AdvertisementThe U.S. Bankruptcy Court issued an order converting Westech Capitals Chapter 11 reorganization to a liquidation under Chapter 7. The order states, The Court finds that it is in the best interests of the estate and creditors for this case to be converted to one under chapter 7 and that no party in interest objected.…