Angell, a French smart electric bike startup, has announced in an email to customers that the company is declaring insolvency and approaching a court to ask for judicial liquidation.

“It’s over for Angell,” said company co-founder and CEO Marc Simoncini on Instagram. (He also happens to be a judge on the French version of “Shark Tank.”) “A hardware problem has put an end to the adventure, despite all our efforts and the incredible work of all our employees.”

Originally founded in 2019, Angell set out to create an electric bike with several smart and connected features. Its original bike packed a small color touch screen in the middle of the handlebar to display relevant information and give turn-by-turn directions. It could…

Eko Damara, a first lieutenant with the Indonesian Navy, reportedly…

The Star hospitality operations in Queensland and NSW – including its hotel, restaurant and bars tenants – face an uncertain future if casino operator enters voluntary administration or has its administration enforced over poor financial results.

“All bets are off,” said one hospitality operator insider if its landlord, The Star Sydney, goes under.

“It’s not pretty. Footfall is at record lows. It’s not good at all and morale is at its lowest as well,” the operator added. The combined forces of a new registered gaming card, capping punters at $5000, will push gamblers to…

It comes after its UK parent company was placed into administration in February last year, with its international assets largely sold – but the sale excluded the New Zealand business.

Administrators Daniel Stoneman and Neale Jackson of Calibre Partners said a buyer had not been found for the New Zealand business, leading to the appointment of administrators.

“We are working closely with the management team to develop a strategy to sell all stock and begin to wind down the business,” they said.

The Body Shop New Zealand has 16 stores with about 70 permanent staff. It had three outlets in Christchurch – Westfield Riccarton, Northlands mall and…

In the lead-up to a federal election, bipartisan support to rescue the key regional airline Rex may not surprise voters.

But what happens next could set the stage for the federal government to own an airline for the first time in three decades, after it privatised Qantas through a public share sale in 1995.

This week, the federal government announced it was acquiring $50 million in debt from Rex Airlines’ largest secured creditor PAG — the company that invested in Rex so it could launch capital city flights, which ultimately led to its downfall.

Rex went into voluntary administration last year, and the government’s move gives it significant influence over the airline’s future.

Akron will no longer use COVID-19 relief dollars to help cancel residents’ medical debt. The debt relief program will still exist – but with a different funding source, according to a Friday news release.

In 2023, city leaders approved using $500,000 of the city’s American Rescue Plan Act allocation to work with a nonprofit, Undue Medical Debt, which connects directly with local hospitals to relieve medical debt.

However, the organization needs more time, officials said.

ARPA dollars have a time limit – they must be spent by the end of 2026.

City officials have decided to instead use money from the city’s general fund for the debt relief program, Mayor Shammas Malik said in the release.

“Our…

Akron will no longer use COVID-19 relief dollars to help cancel residents’ medical debt. The debt relief program will still exist – but with a different funding source, according to a Friday news release.

In 2023, city leaders approved using $500,000 of the city’s American Rescue Plan Act allocation to work with a nonprofit, Undue Medical Debt, which connects directly with local hospitals to relieve medical debt.

However, the organization needs more time, officials said.

ARPA dollars have a time limit – they must be spent by the end of 2026.

City officials have decided to instead use money from the city’s general fund for the debt relief program, Mayor Shammas Malik said in the release.

“Our…

Creditors filed claims totalling around €2.2 billion against KTM AG and its two subsidiaries during the companies’ insolvency proceedings in Austria on Friday.

Insolvency administrator Peter Vogl presented his third report during the hearing and he must now provide a statement on all registered claims.

At the moment, there are 3,534 claims filed against KTM AG. These are divided into 2,347 claims filed by employees and 1,187 claims filed by other creditors.

In total, the claims amount to €2.18 billion, out of which €1.66 billion has been recognised so far. 

Further, KTM Components GmbH has received 739 claims totalling almost €81 million, out of which claims worth €48.8 million have been…

Angell, a French smart electric bike startup, has announced in an email to customers that the company is declaring insolvency and approaching a court to ask for judicial liquidation.

“It’s over for Angell,” said company co-founder and CEO Marc Simoncini on Instagram. (He also happens to be a judge on the French version of “Shark Tank.”) “A hardware problem has put an end to the adventure, despite all our efforts and the incredible work of all our employees.”

Originally founded in 2019, Angell set out to create an electric bike with several smart and connected features. Its original bike packed a small color touch screen in the middle of the handlebar to display relevant information and give turn-by-turn…

Christians Against Poverty (CAP) is running the “Budget Not Blues” campaign to help people take control of their finances.

The charity offers free debt advice, money coaching and a range of support to people struggling with their finances.

St Mary’s Church, part of Andover Parish, will be offering free money coaching and debt help throughout 2025.

READ MORE: Founder of popular youth festival in Andover stepping down after 10 years

Sarah Hurcomb, CAP’s Andover debt centre manager and money coach, said: “Winter often brings financial anxieties, and with energy bills and prices continuing to rise, the pressure all adds up.

“However, CAP’s Budget Not Blues campaign offers a clear path to taking back control of…

The “barrage” of betting advertisements around Boxing Day sporting fixtures will exacerbate Britain’s growing gambling problem, NHS bosses are warning.

Promotional techniques by unscrupulous betting firms, including free Christmas bets, will increase gambling-related harm by encouraging punters to wager sums they cannot afford, they say.

Gambling addiction is causing so much damage that the NHS in England has almost doubled from eight to 15 in the last year the number of specialist clinics it runs to help addicts, it said.

The health service is facing “an uphill battle” to provide enough care to the increasing number of people whom GPs are referring to its network of clinics with gambling-related health problems.

Dr Matt Gaskell,…