Transport services were the biggest contributor to Downer’s earnings in fiscal 2021, down 2.8 per cent to $242.4 million, followed by utilities services, where earnings dropped 16 per cent to $136.1 million. Downer is restructuring its business operations to wind down risky engineering and construction contracts, including solar, coal and iron ore projects, and focus…
US bankruptcies are on track to hit a 10-year high as the coronavirus pandemic recession continues to slam businesses, according to a Monday report from S&P Global. This year, 424 companies have gone bankrupt through August 9, surpassing the number of filings during any period since 2010, according to the report. Consumer-focused companies such as…
A Rockland restaurateur was arrested Aug. 6 and accused of bookmaking and extorting a client to collect gambling debts. Federal prosecutors accused John Ciofalo of transmission of wagering information and extortionate debt collection, in a criminal complaint unsealed last week in U.S. District Court in White Plains. Ciofalo entered a plea of not guilty on…
Published 11 August 2020 Tim Cooper Corporate insolvencies may increase this winter, with new research from the insolvency and restructuring trade body R3indicating that a steep rise may start as early as this October. The R3 research based on a member survey of insolvency and restructuring professionals highlights that an overwhelming majority (93.7 per cent)…
news, local-news, The landowner of a $21 million Wagga development has gone into voluntary administration, with the ramifications for the future 17-storey complex not yet known. CRK Holdings owns the land for the Riverside Apartments at 11 Sturt Street, set to house 67 residential units and three commercial spaces when built. In a statement, Chamberlains…
The biggest threat to farmers with financial issues is that they are going to the wrong people for advice or looking for that advice too late, according to Gary Digney. he chartered accountant and personal insolvency practitioner devised a recent landmark Personal Insolvency Arrangement (PIA) for a Roscommon farming couple who owed more than 500,000…
Network Ten will axe local news bulletins in Adelaide, Brisbane and Perth in sweeping changes likely to be accompanied by widespread job cuts in three states. High-profile presenters Kerri-Anne Kennerley, Natarsha Belling, Tim Bailey and Mike Larkin will reportedly lose their jobs as part of the cost-cutting. Under a major restructure of its news operations,…
That need for discretion meant Mr Hodgkinson was reluctant to name any of the firms high-profile clients. But he did note he had played a role in helping billionaire Bruce Gordon buy a 50 per cent stake in National Rugby League club St George Illawarra Dragons in 2016. There is lots of demand [for our…