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Germany’s Merz will push up debt with help of left, says AfD leader By Reuters Investing.com
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The US operates on a fiscal year that goes from 1 October to 30 September. Its budget for fiscal year 2024-25 is likely to run a deficit of about $2 trillion on revenues of roughly $5 trillion (with outlays of above $7 trillion).
Also Read: US economy: Is stagflation making a comeback amid Trump turbulence?
To fund an ever-increasing deficit, which got materially worse after the covid pandemic, US federal debt has now touched 125% of gross domestic product (GDP), breaching its post-World War II high of 106%. The US national debt in 2025 will exceed $36 trillion at an average interest rate of about 3.3%, resulting in an annual debt-service requirement of about $1 trillion.
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Metal foundry company, Vocklabrucker Metallgießerei GmbH (VMG), which has been around for nearly seven decades was bought by KTM last year but looked set to close due to the Austrian firm’s insolvency. That was before another metalworking company came to the rescue.
KTM took over 100 per cent of the company in late 2024 but due to its mass financial troubles, the metal foundry found itself in a position where it looked like it would become a casualty of KTM’s problems.
But that has not happened and it’s thanks to another family-owned business called Mettec Guss Metallgießerei und Formenbau GmbH. VMG was set to celebrate its 70-year anniversary prior to the financial crisis, however, that could well go ahead now thanks to…
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Rise in corporate insolvencies in England and Wales Business Live
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Cafe Coffee Day insolvency process resumes after NCLAT fails to meet SC deadline The Times of India
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“Since the appeal has not been disposed of until Feb. 21, 2025, as per the instruction of the Supreme Court, the order passed by NCLAT regarding the stay on the CIRP of the Corporate Debtor stands vacated. Therefore, the CIRP of the Corporate Debtor recommences/resumes and the powers of the IRP are hereby reinstated with effect from Feb. 22, 2025,” it said.
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“Since the appeal has not been disposed of until Feb. 21, 2025, as per the instruction of the Supreme Court, the order passed by NCLAT regarding the stay on the CIRP of the Corporate Debtor stands vacated. Therefore, the CIRP of the Corporate Debtor recommences/resumes and the powers of the IRP are hereby reinstated with effect from Feb. 22, 2025,” it said.
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Haydale places “loss-making” US arm into corporate insolvency process Insider Media
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NEW DELHI: Adani Power Limited (APL) on Monday said it has received a Letter of Intent (LOI) to acquire Vidarbha Industries Power Limited.
The power firm was selected as the successful resolution applicant under the Corporate Insolvency Resolution Process (CIRP) of Vidarbha Industries Power Ltd.
The Committee of Creditors approved Adani Power’s resolution plan, as confirmed by the Adani Group company in its stock exchange filing.
“The Committee of Creditors of Vidarbha Industries Power, a company undergoing Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code 2016, has approved the Resolution Plan submitted by Adani Power, ” APL said in the filing.
The firm further added that APL received a Letter of…
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New Delhi : Adani Power Limited (APL) on Monday said it has received a Letter of Intent (LOI) to acquire Vidarbha Industries Power Limited.
The power firm was selected as the successful resolution applicant under the Corporate Insolvency Resolution Process (CIRP) of Vidarbha Industries Power Ltd.
The Committee of Creditors approved Adani Power’s resolution plan, as confirmed by the Adani Group company in its stock exchange filing.
“The Committee of Creditors of Vidarbha Industries Power, a company undergoing Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code 2016, has approved the Resolution Plan submitted by Adani Power,” APL said in the filing.
The firm further added that APL received a Letter of Intent…