As Gov. Cuomo and the Legislature prepare this years economic development strategy, let us hear no more fanciful hopes and dreams about the supposed benefits of expanding casino gambling in New York. An ill-advised 2013 referendum that approved up to seven new full-scale gambling casinos has already proved to be a disappointment, delivering far…
Even as banks seek suitors for Essar Steel, which has been referred to the bankruptcy court, brothers Shashi and Ravi Ruia could well find inspiration from similar circumstances almost 20 years ago. Then too, they were facing the ignominy of a possible loss of their steel business. In 1999, Essar Steel had earned the dubious…
By Sean Pyles/NerdWallet Paying off debt in the new year is a common resolution. But resolving to do something and actually doing it are two different things. Taking a smart approach to building good habits, however, can help you master your debt in the coming year. Jon Bailey, professor emeritus in the psychology department at…
HACKED – Managing Personal and Company Reputation under Mandatory Reporting Cyber risk attracts a lot of headlines. It deserves to. Cyber is one of the most acute risks facing Australian businesses and it is only going to increase as criminals get easier access to more sophisticated tools, and Australias mandatory data-breach reporting begins in February…
A bunch of stressed Indian stocks are getting a lot of investor love. A Bloomberg index of 11 indebted companies that are in bankruptcy court surged 31 percent in December on speculation that the new insolvency law will push the firms founders and lenders to find quick solutions. In comparison, the broader S&P BSE500 gained 3.5…
China wants Jia Yueting home to settle his debts, but he won’t listen. VCG China’s deadline for the founder of embattled LeEco to return home has passed, but Jia Yueting is still nowhere in sight — at least, not in the country. Jia won’t be returning to China because he has to stay in the…
Mossgreen auction; image mossgreen.com The end of the year is a time for reflection and change for many, but for one of Australias leading auction houses, the end of 2017 signaled not only a shifting of gears, but a slamming on of brakes. On the last business day…
With the government taking a considerate stance while amending the IBC law, there seems to be enough leeway for prudent promoters to be able to bid for their company’s assets. The amends allow a defaulter or existing promoter to become eligible for the resolution plan by making their bad loans operational. The Insolvency and…
We think some of the margin difference between ADP and peers is structural, and we dont see easy fixes for some of the issues Pershing Square identified. We see the moat trend at ADP as clearly negative and view the stock as significantly overvalued. We see some short-run improvements on the horizon as ADP improves…
CONVINCING a foreign investor to take up a strategic stake in Proton Holdings Bhd was a major challenge in itself. It also would not have been possible without a major restructuring that satisfied the interests of all major stakeholders. Thus, taking into account the political nature of the transaction, the restructuring of Proton that paved…