‘Absolutely insane’: Hertz, despite bankruptcy, allowed to sell $1b. in shares – The Times of Israel

WASHINGTON In a move that some bankers and commentators have called insane, coronavirus-hit car rental company Hertz was granted permission Friday to sell $1 billion in shares, an extraordinary move after it declared bankruptcy in the United States and Canada. The unusual green light was given by a bankruptcy court in the US state of…

Equestrian Australia enters voluntary administration after funding withdrawn – Insidethegames.biz

Equestrian Australia has said it will ensure requirements are met to nominate athletes for the Tokyo 2020 Olympic and Paralympic Games after the national governing body entered voluntary administration. The organisation entered voluntary administration following the withdrawal of funding by Sport Australia, who had slammed Equestrian Australias governance and raised concerns over welfare of participants…

The Global South Needs More Than Just Debt Relief – Jacobin magazine

On April 15, the Group of Twenty (G20), an international forum that assembles governments, central bank governors, and international organizations, endorsed a suspension of debt service for seventy-six countries from the Global South. This was not quite debt cancellation, but a postponement of payment. Granted on a case-by-case basis, this measure only concerns bilateral debt,…

Mitsubishi Aircraft to slash over half its workforce in restructuring move – The Japan Times

Nagoya Mitsubishi Aircraft Corp. will cut more than half of its 2,000-strong workforce in a restructuring move as the coronavirus devastates travel demand and delays continue to plague its regional jet project, a source close to the matter said. The aircraft-making subsidiary of Mitsubishi Heavy Industries Ltd. will also close its U.S. headquarters, a development…

Why people are buying bankrupt stocks like Hertz, and everything else you missed in business news: CNBC After Hours – CNBC

CNBC.com’s MacKenzie Sigalos brings you the day’s top business news headlines. On today’s show, CNBC’s Dominic Chu breaks down why traders have bought so much stock in bankrupt companies like Hertz and J.C. Penney, and how it can quickly become a losing game. Also, CNBC’s Elizabeth Schulze explains how empty sports stadiums pose an imminent…