It never fails to amaze me how companies can hand out millions in bonuses to executives whose bad decisions led to bankruptcy then either lay off the workers who made them profitable or take away their pensions and benefits. Because it happens so often, and in so many industries, Americans generally respond with complacency not…
Please read the following conditions carefully. All holidays are sold by us subject to these conditions and the other general information in this booklet, our brochures and quotations. Audley Travel Group Ltd (whose administrative offices are at New Mill, New Mill Lane, Witney, Oxon OX29 9SX) are members of the Association of Independent Tour Operators.…
Author: European Commission. The following press release was issued by the European Commission on April 8, 2016 11:45 am. Commissioner Margrethe Vestager, in charge of competition policy, stated: Following the economic difficulties of Oltchim and the cancellation of public debts owed by the company, we need to verify whether a private creditor would have…
A bankrupt man who was living in a backpackers’ hostel when he was arrested on fraud charges tried to buy Melbourne’s historic Block Arcade. Graeme John Effrett, 48, sent realtor Colliers false documents stating he had two bank accounts containing $US110,000 ($A146,000) each so he could enter the tender process for the iconic site, the…
A Quakertown couple fleeced Lehigh University fraternities and sororities and their alumni associations out of nearly $1.5 million meant to pay for upkeep and food services at their Greek houses, federal prosecutors said Thursday. Instead, Albert and Betty Fisher drew large salaries from the funds the groups paid into their company, Bethlehem-based Fraternity Management Association,…
India will probably begin merging its 27 public sector banks by next year, with Bank of Baroda among the likely consolidators, its executive chairman Ravi Venkatesan said on Thursday. Speaking to FinanceAsia at Credit Suisses 19th annual Asian Investment Conference in Hong Kong, the former chief executive officer of Microsoft India predicted that the Indian government…
SAN JUAN, Puerto Rico When Puerto Rico attempted to shore up its chronically underfunded public-employee pensions in 2013, Francisco del Castillo knew grown men and women who wept. Under the reform package, retirement ages rose. So did employee contributions. Current and future participants were transferred to less-generous defined-contribution accounts, similar to 401(k) retirement savings plans.…
Walter Energy filed with the U.S. Bankruptcy Court a motion for the entry of an order authorizing and directing the trustee of Walter Industries deferred compensation plan trust to terminate the trust and release the trusts assets to Walter Industries. The motion explains, Because assets of a rabbi trust, by definition, belong to the grantor…
2016-04-07T14:48+02:00 14:48 07.04.2016 Bank Khreschatyk (Kyiv) from April 4, 2016, before the bank was declared insolvent, terminated duties of a member of its supervisory board and a representative of the financial department of Kyiv City Administration Viktor Padalka, who filed a resignation letter, said a report in the information disclosure system of the National Commission…
The European economy is now entering its fourth year of recovery and growth continues at a moderate rate, driven mainly by consumption. In the near term, I expect investment to gradually pick up as well, as demand increases, as businesses put their machinery back to work, and as profits increase thanks to lower energy prices…