The good news about student loans is that they allow millions of people to earn college degrees who otherwise wouldnt be able to afford them. The bad news is that college graduates enter the workforce deeply mired in debt that deflates their net worth and keeps them cash-strapped for years, if not decades. The current…
The Medicines Company CEO Clive Meanwell is circling all the wagons around its late-stage PCSK9 development plans for inclisiran. Clive Meanwell, The Medicines Company The Alnylam partner said today that once the biotech completes an effort to sell off its infectious disease group, the company which had 410 staffers in February will chop its remaining…
Government debt could increase by more than 50%, or by R1.2 trillion, to danger levels over the four fiscal years ending March 2021 and if this comes to bear it could ultimately lead the country to seek international help from organisations like the International Monetary Fund (IMF). Finance Minister Malusi Gigaba today presented his first…
A printing company in the Scottish Borders has gone into liquidation with the loss of 15 jobs. The family-owned Meigle Colour Printers was founded more than 40 years ago. The company claims that in recent years the business has faced challenges, including the shift from printed to digital media. It says the rising costs of…
Two months after a National Company Law Tribunal (NCLT) issued an order initiating corporate insolvency proceedings against debt-ridden Orchid Pharma, numerous potential suitors, including top private equity players and domestic peers are eyeing the Chennai based company as part of a resolution plan under the provisions of the insolvency and bankruptcy code, multiple sources familiar…
Medicines Co. (NASDAQ:MDCO) +8% premarket after reporting a smaller than expected Q3 loss and announcing plans to restructure the company, including laying off more than 85% of its workforce. MDCO says the restructuring, which it plans to substantially implement within the next 45 days, will cut headcount to fewer than 60 people. MDCO also expects…
A St Austell coach holiday boss who blamed Brexit, terrorism and his divorce for the collapse of his business has been declared bankrupt. David Hamilton, director of Hamilton’s Coach Holidays, lost holidaymakers thousands of pounds at the end of September after cancelling dream trips with only a couple of days’ notice. Disappointed customers arrived at…
Oil and gas vessel operators are doing it tough.Picture: Chevron The oil price slump has claimed a victim in WA oil and gas vessel operator Go Marine Group, which has been put into administration. Go Marines board appointed administrators from KordaMentha last Friday to the company, which is owned by Singapores Otto Marine. Its understood…
MUMBAI: Reliance Communications (RCom) is believed to be closing down major parts of its wireless business in the next 30 days, blaming among other factors, the creative destruction brought in by new entrant Reliance Jios free voice and cheap data services, and has told its employees that their last date of employment will be November…
HYDERABAD: Empee Sugars and Chemicals has withdrawn the insolvency petition it filed before the National Company Law Tribunal’s (NCLT) Hyderabad bench after its main lenders agreed to assign their outstanding loans to leading stressed loans buyer Edelweiss Assets Reconstruction Company. Empee Sugars and Chemicals earlier this month submitted before the NCLT that its secured lenders,…