Australia | 12:11 PM Brickworks continues to derive benefit from strong construction activity on Australia’s east coast but, beyond the next 6-12 months, the outlook is more uncertain. -Rising energy costs envisaged eroding margins in FY18-Property earnings and profits expected to ease from highs-Strong building product order book, not expecting demand to slow for 12 months …
The bankruptcy of US retail giant Toys R Us will have flow-on impacts to one of Australias biggest toy brands, with one insolvency expert calling on small businesses to do everything they can to protect themselves against the collapse of distributors. The US arm of Toys R Us filed for chapter 11 bankruptcy protection on…
It may be difficult for banks to dispose of personal properties given as a collateral for a loan when the company is referred to the National Company Law Tribunal (NCLT). The Chennai bench of NCLT ruled that if promoters or directors of a company have pledged their personal property and the committee of creditors (CoC)…
THE WIDESPREAD effects of the collapse of Ostwald Bros has become clearer as administrators establish roughly how much money the company owes to creditors. PricewaterhouseCoopers revealed the company owed at least $61million to creditors, including companies and businesses across the Maranoa region. Among the creditors owed money from Ostwalds are Maranoa Regional Council, Roma Rugby…
Hewlett Packard Enterprise is cutting 5,000 jobs as part of a wider effort to slash costs at the company, Bloomberg reported. The layoffs will affect about 10% of HPEs workforce, including employees both in the US and abroad, according to the report. HPE will start making the cuts before the end of the year, Bloomberg…
UNITED NATIONS (AP) The latest on the U.N. General Assembly meeting (all times local): 7:40 p.m. Antigua and Barbuda’s prime minister is pleading for debt relief to help rebuild from Hurricane Irma, which decimated the tiny island of Barbuda and forced the evacuation of its entire population. Prime Minister Gaston Alphonso Browne tells the U.N.…
There were no famous athletes at Nike’s annual shareholder’s meeting Thursday, no fashion models, little of the customary glitz and glamour, perhaps befitting a new era of austerity and resurgent competitors. “This was a particularly challenging, difficult time,” said Mark Parker, Nike chief executive, president and chair, said of the company’s just-ended fiscal year. “Having…
All of Puerto Rico has lost electricity. Entire towns are swamped in the deluge. Streets have become rivers and trees have crushed homes. Hurricane Maria is Puerto Ricos worst in nearly a century, a double blow as it follows the destructive Hurricane Irma by just two weeks. The costs, both human and financial, have only…
Partners said Hewlett Packard Enterprise’s Next restructuring initiative is set to power a sweeping set of channel improvements that is going to drive double-digit channel sales gains. Joseph Yang, director of professional and managed services for Microware Limited, a $130 HPE Platinum partner, said he sees the Next initiative making HPE his No.1 partner in…
Credit card debt among Americans is at an all-time high. In June, it increased to $1.02 trillion, according to a report from the Federal Reserve. In other words, Americans now have more credit card debt than just before the 2008 financial crisis. When facing such massive amounts of debt, it may be tempting to consider…