SolarZero’s chief executive begged the energy company’s international owners to pay its nearly 200 employees what they were owed, just hours before it was put into liquidation, 1News can reveal.

The company was placed into surprise liquidation two weeks ago with its owner, multinational investment firm BlackRock, blaming “unsustainable losses”.

Former employee Magda Van Zyl told 1News she was “devastated” about the liquidation, adding that she “never saw this coming”.

“Right before Christmas — no leave pay, no notice. It was quite a blow. It’s quite a hard blow for all of us,” she said. “There’s now two in our household that’s now got no income.”

Another former employee, Minal Banchal, said when she first learned of the liquidation, she…

Tesla CEO Elon Musk wrote on X (formerly Twitter) that Microsoft co-founder Bill Gates might go bankrupt if Tesla becomes “the world’s most valuable company by far,” reigniting the feud over Gates’ short position against the electric vehicle giant. At present, Tesla’s market capitalization sits at $1.251 trillion, trailing far behind Apple Inc. – the world’s largest company, which leads at $3.729 trillion. For Tesla to claim the top spot, it would need to grow by nearly 200%.
In the post on X, Musk wrote “If Tesla does become the world’s most valuable company by far, that short position will bankrupt even Bill Gates”.

What is short position

Short position here refers to a stock market strategy where an investor…

PARIS — A French commercial court has officially declared Kremlin-backed media outlet RT France bankrupt, the company’s President Xenia Fedorova announced on Friday.

“The court of Nanterre took the decision to put RT France in liquidation — a media that has not pleased [French President] Emmanuel Macron since its launch and, which was sanctioned by the EU a year ago as a precautionary measure because of the conflict in Ukraine,” Fedorova tweeted Friday evening.

In March last year, the EU banned Russian government-funded media like Sputnik and RT, formerly known as Russia Today, from broadcasting in Europe after Russia launched its full-scale war on Ukraine.

NEW DELHI: Properties worth Rs 2,566 crore of fugitive businessman Mehul Choksi would now be ready for auctioning after a special Mumbai court order. The properties were attached by the Enforcement Directorate (ED) in the PNB fraud case.

The ED has already started the process of handing over the properties to the liquidator and assets worth Rs 125 crore have been handed over to the liquidator of Gitanjali Gems, the company once owned by Choksi.

“The handed over properties include flats situated at Mumbai and two factories/godowns situated at SEEPZ Mumbai. Restitution of the rest of the properties is in progress,” said the enforcement directorate, the agency that investigates matters related to money laundering.

Gitanjali Gems went…

The fortunes of Australia’s largest commercial contractors have improved as cost growth slows and loss-making projects end, but increasing insolvencies among smaller subcontractors and suppliers are putting that recovery at risk by narrowing the industry base on which larger builders rely to get work done.

Financial reports lodged with the corporate regulator show the country’s biggest builders enjoyed a strong turnaround in the year to June, with profitability and margins increasing, as they put behind them the brutal losses triggered by fixed-price contracts.

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