News 18 January 2016by Rebecca Buchan Calum Melville An Aberdeen businessman who was once one of Scotlands richest men has been declared bankrupt but insists he is still living a life of luxury in the sun. Calum Melville flitted his life to Dubai two years ago, taking his business with him and leaving a trail…
As weve been warning for quite a while (too long for my taste): the worlds grand experiment with debt has come to an end. And its now unraveling. Just in the two weeks since the start of 2016, the US equity markets are down almost 10%. Their worst start to the year in history. Many…
IF THE HETEROSEXUAL Caucasian male novelist has made a unique contribution to the field of contemporary American literary fiction if he has, so to speak, a story of his own that is the story of the loser. Wallace, Franzen, Lipsyte, Shteyngart, Eggers, Moody, Lethem each of these writers has, to varying degrees, contributed to the…
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… Read the full article at: http://www.startribune.com/cargill-s-foray-into-ukrainian-banks-cautionary-international-business-tale/365480591/
ROBERT KITCHIN/FAIRFAX NZ Dick Smith stores have remained open while receivers and administrators try to get the business sorted for sale. Almost 200 Dick Smith New Zealand staff are owed $353,000 by the company and it is uncertain whether they will get their money. Dick Smith’s administrators McGrathNicol held the first New Zealand creditors meeting…
Significantly more businesses went under last year compared to 2014, led by a rise in company failures from NSW. With 9,573 businesses having gone into administration up to November last year, the numbers for 2015 have already eclipsed 2014’s total of 8,794 companies slipping under, data from the Australian Securities and Investments Commission shows. NSW…
UPDATE 2 (15th January 19:32 BST): The website for Cryptsy has been taken offline. Embattled digital currency exchange Cryptsy is now claiming that it is insolvent. The exchange alleges in a newly released blog post that it was the target of a hack in July 2014, an incident that it said cost it approximately 13,000 BTC ($7.5m…
Portugal’s central bank on Friday relaunched the sale of Novo Banco, created as part of the rescue of Banco Espirito Santo (BES bank), after a first attempt last year was halted due to unsatisfactory bids. The Bank of Portugal’s Board of Governors said it had “decided to renew the sale process” of Novo Banco with…
A recent brouhaha at our citys Gucun Park in Baoshan District, famous for its springtime cherry blossoms, is providing food for thought on the issue of public spaces, and what responsibilities our city and we as local citizens have for supporting these places. The case revolves around the parks decision to rent out a large…