(Reuters) – Italian energy group Eni reported a 46% slide in fourth-quarter adjusted net profit on Thursday, hit by lower energy prices and weakness at its refining, biofuel and chemicals divisions.

Adjusted net profit for October and December totalled 892 million euros ($934 million), below an analyst consensus of 960 million euros compiled by the company and down from 1.66 billion euros in the fourth quarter of 2023.

Eni said its pro-forma leverage, which measures total debt in relation to equity taking into account also agreed disposals yet to be completed, fell to 15% at the end of last year.

“Our portfolio actions mean our pro-forma leverage is now an historically low 15%, enabling us to continue to invest…

Amidst robust growth of electric two-wheelers, India’s first electric scooter maker Hero Electric is up for insolvency resolution under IBC (Insolvency and Bankruptcy Code), with the resolution professional (RP) inviting prospective bidders for the now bankrupt company.

The Expression of Interest (EOI) from prospective bidders for the company was floated on February 18 and is set to close on March 14, 2025.

The RP will thereafter issue the final list of prospective resolution applicants on April 8.

Hero Electric was initially admitted into insolvency in December over default of Rs 1.85 core. The corporate insolvency resolution process has now advanced with the total admitted claims of creditors amounting to more than Rs 301.23 crore,…

A Dublin man who was caught with two separate large hauls of cocaine and cannabis at his home within one year has been jailed for 10 years.

Robert Cummins, 45, of Cushlawn Park, Tallaght, pleaded guilty at Dublin Circuit Criminal Court to possession of cannabis herb valued at €196,540 and cocaine valued at €68,327 for sale or supply at his home on 24 August 2023.

He also pleaded guilty to possession of cocaine valued at €55,695 and cannabis valued at €12,912 for sale or supply at his home on 18 July 2024 while on bail for the first offence.

Cummins came forward to Dublin Circuit Criminal Court on signed pleas from the District Court in relation to the second find.

The drugs were found after confidential…

As the build-up intensifies for the upcoming boxing match between Chris Eubank Jr. and Conor Benn, the war of words took a surprising turn at Tuesday’s press conference. Benn made explosive claims about Eubank Jr., alleging that the British boxer owes Brazilian football star Neymar £4 million in poker debts.

Benn didn’t hold back, questioning Eubank Jr.’s financial motivations for agreeing to the fight. “Do you know why you need the money? Because you’re shit at poker,” Benn said, implying that Eubank Jr.’s struggles at the poker table were the real reason behind the upcoming bout. “He owes Neymar four million quid. That’s why he’s taken this fight,” Benn added.

The rivalry between Eubank…

Retail giant Mosaic Brands – owner of Millers, Rivers, Crossroads, Katies, Noni B and Autograph – collapsed into voluntary administration in October 2024.

In a notice to creditors delivered last week, Mosaic’s total debt seems to have been finally tallied at more than $318m.

More than 2800 staff who worked across Mosaic’s Australian and New Zealand stores are owed $22m and receivers and managers KPMG say this will likely be paid in full.

Secured creditors are likely to see the $54m they are owed. But the collapse has left a $242m hole for 613 unsecured creditors, and…

• Encore Capital Group Inc Ltd cold-called businesses and potential customers and then collected debts which they did not fully hand over.
• In some instances, they falsely claimed to be regulated by the Financial Conduct Authority (FCA).
• The company was shut down following a winding up hearing at the High Court in London on 25 February 2025.

A Bristol-based debt recovery company which collected debts for businesses and individuals but failed to forward on all the money has been shut down.

Encore Capital Group Inc Ltd, which traded as Encore Debt Recovery, cold-called businesses and individuals offering to recover commercial and consumer debts in return for an up-front fee or a percentage payment.

In some instances, they falsely…

Victory Portfolios II today announced plans to liquidate the VictoryShares US Discovery Enhanced Volatility Wtd ETF (CSF), VictoryShares US Small Cap Volatility Wtd ETF (CSA), and VictoryShares THB Mid Cap ETF (MDCP) (the “Funds”).

The decision to liquidate the Funds was the result of the Company’s regular review of its product lineup to ensure it is best meeting client needs.

After the close of business on April 22, 2025, the Funds will no longer accept purchase orders for Creation Units. Shareholders of the Funds may sell their holdings on the Nasdaq Stock Market prior to the close of trading on April 23, 2025, and customary brokerage charges may apply to these transactions. The Funds will cease trading at the end of the…