Pandemic allows firms time to restructure Focus on consolidation, M&A Large companies are taking advantage of the economic slowdown and the outbreak to restructure their businesses, aiming to prioritise consolidation or mergers and acquisitions (M&A), both locally and abroad. Funding for the deals depends on a company’s financial status, and includes using operating cash flow,…
Australias public debt levels remain manageable, with record low interest rates leaving the government plenty of room to boost the economy in the October budget, according to the Reserve Bank. In a speech on Tuesday the RBA deputy governor, Guy Debelle, has defended the size of support payments including jobkeeper and jobseeker and given the…
The Lok Sabha passed the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2020 on Monday through a voice vote. Publish Date: Mon, 21 Sep 2020 08:51 PM IST New Delhi | Jagran Busines Desk:The Lok Sabha passed the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2020 on Monday through a voice vote. Responding to the…
Nine small and medium-sized garment factories are in big trouble as a German retailer is not paying them on the pretext of being hit by the coronavirus pandemic although the buyer received the goods before the crisis began. Colloseum bought t-shirts, polo shirts and sweaters worth $15 lakh from the Bangladeshi suppliers between December last…
A concerted tightening of regulatory controls against gambling by mainland Chinese authorities looks set to counter expectations of a VIP-led recovery for Macaus gaming operators, leaving base mass to do the heavy lifting according to investment bank Credit Suisse. In a Monday note examining the short-term outlook for Macau post-COVID, analysts Kenneth Fong, Lok Kan…
Boris Becker will appear in court this week to face 19 criminal charges over claims he ‘hid property portfolio, bank accounts and shares in artificial intelligence firm’ during bankruptcy hearings Boris Becker, 52, faces claim that he hid finances at his 2017 bankruptcy hearing It’s alleged he failed to declare three properties, along with two…
Madam Chos house was splashed with red paint on Sept 10. She believes the incident is linked to her son not settling his debts with loan sharks. MADAM Cho (not her real name) believes her sons online gambling addiction has driven him to borrow cash from illegal moneylenders. On Sept 10, the senior citizens house…
The owner of a Brisbane building company that collapsed owing more than $5.5m now faces legal action over his family home in an exclusive suburb. Mansfield-based Bulkbuild Pty Ltd into voluntary administration in June and later liquidators Hall Chadwick’s Ginette Muller and Marcus Watters were appointed. The liquidators have filed an application with the Supreme…
A Perth catering company and its director have been ordered by a local magistrates court to pay more than $20,000 in fines, costs and consumer compensation after failing to turn up at a wedding reception and botching a birthday celebration. Eat Street Enterprises, trading asOle Paella Catering, and sole DirectorBradley John Lambwere fined $3,500 each…
An Albury businessman has been declared bankrupt in a win for the Commonwealth which says he owes it more than $10 million following a long-running court battle. The Commonwealth had applied to the Federal Court for a sequestration order against Allan Paul Endresz . He opposed it on a number of grounds, including a submission…