Cans produced for Coca-Cola Co.’s Coke drink move along the production line. Chris Ratcliffe | Bloomberg | Getty Images Coca-Cola will cut about 2,200 jobs in its global workforce as part of a broader restructuring plan that was accelerated by the coronavirus pandemic. In the United States, Coke will use layoffs and buyouts to eliminate…
Last week, as part of the Australian Governments ongoing response to the pandemic-induced economic crisis, the Senate passed reforms to insolvency arrangements for small businesses with liabilities less than $1 million. From 1 January 2021, these businesses will be able to avail themselves of: A new debtor-in-possession, debt-restructuring process to improve the prospects of business…
Two-decade Deloitte veteran Vaughan Strawbridge has been poached by FTI Consulting in Australia, where he has been appointed a Senior Managing Director. Strawbridge is a chartered accountant by background and has been atDeloitte Australia since 1998, interluded with a five-year spell at the firms UK office. A restructuring expert, Strawbridge has provided business turnaround services…
Virgin Australia has become the first major Australian airline to exit voluntary administration, with its new CEO and managing director unveiling its future direction. On her official first day as Virgins boss, Jayne Hrdlicka showed off the airlines plan resulting from collaboration with staff and combined with detailed customer research. It includes retaining its core…
Ismael Majed Siza (60), a restaurant owner from Westminster, London, has been banned for 12 years and Keith Morgan Thomas (81), a concrete services company from Llanelli, Wales, has been disqualified for 6 years. Both are now banned from acting as directors or directly or indirectly becoming involved, without the permission of the court, in…
Throughout the coronavirus crisis, CBS is providing weekly updates on the number of bankruptcies pronounced by Dutch courts. The weekly updates are normally released on Thursdays at 12.00 p.m. Not including sole proprietorships, there were 33 bankruptcies in week 50, 8 fewer than in week 49. In addition, 8 sole proprietorships were declared bankrupt, 2…
A Indian man threw acid at his wife when she refused go to his friends who had been gang-raping her as compensation for her husbands gambling debts, police claim. The alleged abuse occurred last Saturday night (local time) in the Bhagalpur district in Indias northeastern state of Bihar, the Times Of India reported. Although alcohol…
December 17, 2020 00:00 ET | Source: Elite Document Management Solutions San Diego, California, Dec. 17, 2020 (GLOBE NEWSWIRE) — America is in a dire debt situation, at least if the available statistics are anything to go by. Over 138 million Americans are unable to stay up-to-date with their debt payments while a significant number…
This year, the federal government passed a range of new legislation to help small businesses withstand the effects of the COVID-19 pandemic. While some of these initiatives are familiar, such as JobKeeper and changes to insolvency, from January 1, 2021, important changes will occur. Here are four changes SMEs need to know. 1. JobKeeper extension…
The Board of Sunedison Infrastructure at its meeting held on 15 December 2020 have accorded their approval for capital contribution to be made by the Company amounting to Rs 18.66 crore in Sherisha Solar LLP, under the provisions of the Limited Liability Partnership Act, 2008 (LLP Act) by way of execution of a limited liability…