Videocons businesses, especially in consumer electronics and home appliances segment, are dependent on each other, according to State Bank of India. Photo: Pradeep Gaur/Mint Mumbai: The State Bank of India (SBI) wants to appoint an adviser to liaison among the separate resolution professionals (RPs) and prospective bidders for the 15 Videocon group entities that it…
Regarding Sears bicycle business, mainly U.S. suppliers are affected by this bankruptcy. For example, Kent International Inc. is assembling bicycles for Sears. Since the opening of a completely new bicycle factory in South Carolina about four years ago Kent offers close to market production for its private label and OE-business. How Sears financial troubles would…
The Bank of Canada (BoC) is widely expected to raise its trend-setting interest rate by another quarter of a percentage point to 1.75 per cent, on Wednesday. It would be another step in the gradual move toward higher rates under the stewardship of BoC governor Stephen Poloz. And it could also nudge a growing number…
Photo by Mario Tama/Getty Images Sears was founded by Richard W. Sears and Alvah C. Roebuck 132 years ago. It was initially a watch company, but quickly expanded and became a major catalogue retailer. For more than 100 years, it was a cornerstone of American retailing. But, its glorious story might be coming to an…
Nearly half say they are already feeling the effects of the interest rate increases, up 7 points since June One-third express concern that rising rates could move them towards bankruptcy, up 6-points since June Over half are concerned about their ability to repay their debts if interest rates continue to climb, up 3 points since…
By Petros Kausiyo ZIFA president Philip Chiyangwa has demanded that his leadership be accorded respect as they battle to keep national football afloat in a tough operating environment under which many an institution could easily have closed shop. The association has battled long and hard in a harsh economic climate to ensure that national teams…
Engineering boss from Peterhead, Aberdeenshire, banned from running companies for seven years after he failed to pay correct tax over four years. Victor Craig Morrell (49) was the sole director of Specmar Ltd, a company that provided engineering support services to the oil and gas industry. However, Specmar entered into Creditors Voluntary Liquidation in January…
The U.S. Mega Millions lottery jackpot swelled to a record US$1.6 billion after the 25 drawings held since the end of July including the latest on Oct. 19 failed to yield a winner. That ties it for the largest lottery grand prize the world has ever seen. The jackpot for the rival Powerball game also…
First port to be declared insolvent, Dighi port allegedly owed Rs 1,600 crore to banks, Rs 13 crore to Maritime Board and another Rs 16 crore to DBM Geotechnics. Fourteen companies have lined up to take over the troubled Dighi Port, whose case of bankruptcy is being heard by the National Company Law Tribunal. Earlier…
UP to 60 investorswho were given personal guarantees by property developer and former Irish rugby team manager Pat Whelan over a failed multi million euro property investment scheme are to receive a tiny fraction of their money back as part of a insolvency arrangement. It is estimated that each of the investors,includingformer Ireland and Munster…