Varun Resources Ltd, Indias largest owner of liquefied petroleum gas (LPG) carriers, has had to halt operations of its eight Indian-flagged LPG tankers at the behest of a consortium of 12 banks led by State Bank of India after defaulting on loans of about 2,000 crore, putting its future at stake. Compounding the issue, the…
The former employees of a Manalto subsidiary say their salaries have gone unpaid since they were locked out of their office in July. Josef van Niekerk, a former developer at Soshlr a South African subsidiary of ASX-listed social media manager Manalto told Stockhead he and about 30 other staff were abruptly locked out of the…
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Thu, Oct 26, 2017 – 7:58 AM JAYA Holdings on Thursday said it is seeking voluntary liquidation, with the remaining cash to be distributed to shareholders. The company has submitted a proposal on the proposed voluntary liquidation to the Singapore Exchange (SGX). It will be convening an extraordinary general meeting to approve the proposal, and…
J.C. Penney Co. spooked investors ahead of the holiday season, after the struggling department-store chain slashed its profit goals for the year and warned of weakening sales. Penney said its decision to discount and clear out slow-moving inventory in women’s apparel and other clothing departments increased revenue in September and October but significantly hurt earnings.…
J.C. Penney Co. lost up to a quarter of its market value Friday after the struggling retailer drastically cut its outlook for the year and warned about weakening sales. Penney said its decision to discount and clear out slow-moving inventory in women’s apparel and other clothing departments increased revenue in September and October but significantly…
Company adjusts full-year guidance PLANO, Texas – (Oct. 27, 2017) – J. C. Penney Company, Inc. (NYSE:JCP) today provided a preliminary update on its expected third quarter performance, following actions taken during the quarter to accelerate the liquidation of inventory. The Company’s fiscal third quarter ends Oct. 28. “Based on the encouraging results…
THE winding down of the defunct Interfin Bank (pictured) is facing new hurdles amid revelations a local property firm is suing the banks liquidator and prominent lender Jayesh Shah who is holding onto title deeds of the plush Golden CT housing project, it has been established. By Bernard Mpofu Equity Properties has slapped Shah with…
OTTAWA Innovation Minister Navdeep Bains says the federal government will consider legislation to protect employees pensions when a company goes bankrupt. While theres no plan for the government to introduce legislation at the moment, he says it will carefully examine two different private members bills on the subject, put forward by a New Democrat MP…
OTTAWA Innovation Minister Navdeep Bains says the federal government will consider legislation to protect employees’ pensions when a company goes bankrupt. While there’s no plan for the government to introduce legislation at the moment, he says it will carefully examine two different private member’s bills on the subject, put forward by a New Democrat MP and a Bloc Quebecois…