Global debt levels rose by $US21 trillion last year to $US237 trillion, the highest level on record. 80% of the increase in global debt levels over the past five years has occurred in emerging markets. With nominal GDP growing faster than debt in 2017, the global debt-to-GDP ratio fell to 318%. Global debt levels have…
Controversial Sydney businessman Salim Mehajer has been found guilty of being part of a 2012 electoral fraud plot that helped put him on Auburn City Council. In Central Local Court on Wednesday, magistrate Beverley Schurr found him guilty of multiple charges relating to plotting with his younger sister, Fatima Mehajer, who has previously pleaded guilty…
EMPLOYEES will not see a cent from Riverside Meats after the Echuca company announced it was going into voluntary liquidation last week. And they are furious. Seven workers who spoke to the Riverine Herald say the hand they have been dealt 30 workers are still owned $622,526.46 is cruel. The money owed to the abattoir…
MoU was signed for collaboration in research, publication and advancement of knowledge New Delhi: The Insolvency and Bankruptcy Board of India (IBBI) signed a Memorandum of Understanding (MoU) today with the Indian Institute of Corporate Affairs (IICA). The MoU was signed for collaboration in research and publication, advancement of knowledge, capacity building, awareness and advocacy…
A “TOUGH financial climate” has plunged one family-run business into liquidation only five years after it first set sail. Chad Rapsey of RapseyGriffiths Insolvency and Advisory was appointed liquidator of Bundaberg Port Marine Services Pty Limited on March 20. Mr Rapsey said the investigation into what caused the small business to go under had begun…
“All sides of politics are very good at saying small business is the engine room of the economy but it is bloody hard to run that engine if you don’t have petrol and that petrol is finance,” Carnell says. “You can’t grow a business if you don’t have access to finance , it’s that simple.” Jobs…
By Tara Patel April 10, 2018, 11:57 AM EDT EasyJet Plc has approached Alitalia SpA about a possible takeover of the Italian airline once it has been restructured. Europes second-biggest low-cost airline has submitted a revised expression of interest for a restructured Alitalia, the Luton, England-based company said in a statement Tuesday. The airline is acting within…
PARIS (Reuters) French insurer AXA <AXAF.PA> is restructuring its Swiss business in a move that would hit its results in the short term, but is expected to give it more financial flexibility ahead of the $15 billion (10.59 billion pounds) acquisition of XL Group <XL.N>. AXA, Europes second-biggest insurer by market value behind Allianz <ALVG.DE>,…
In the morning trades on Tuesday, shares of Wipro dropped as much as 2.56% to a days low of Rs 277.75 on NSE. (Image: Reuters) Shares of the Bengaluru-headquartered IT giant Wipro tanked over 2.5% to the lowest level since 28 March 2018 after the company said that clients insolvency weighs on the profitability and revenue…
PARIS (Reuters) – French insurer AXA (AXAF.PA) is restructuring its Swiss business in a move that would hit its results in the short term, but is expected to give it more financial flexibility ahead of the $15 billion acquisition of XL Group (XL.N). A logo of insurer Axa is seen at the entrance of the…