Newcastle United co-owner Amanda Staveley was yesterday ordered to pay £3.4m to a Greek shipping magnate by April 22 — or he can petition the court for a bankruptcy order.

Staveley, 50, who helped orchestrate the Saudi Arabia-backed consortium that purchased Newcastle United for £300m in 2021, had applied to the High Court to throw out the application made by Victor Restis.

However, in his two-hour ruling on Monday, judge Daniel Schaffer rejected her bid on every count and said she must pay back the money in full within 21 days. Staveley did not attend court in person on Monday. Immediately after the judgment, she said she intended to appeal against the decision.

Here, The Athletic explains what happened in court, the background to the…

True Value, a 75-year-old hardware store brand, has filed for bankruptcy and is selling substantially all of its operations to a rival, the company announced Monday.

In a press release, True Value said it will continue day-to-day operations of selling hardware and other homeware tools to its 4,500 independently operated locations during the Chapter 11 process, which includes a $153 million stalking horse bid from rival company Do it Best.

True Value said its stores will remain open, because they are not part of the bankruptcy proceedings.

In bankruptcy court filings, True Value said it faces a significant cash crunch as the housing market stalled and consumers have become far more picky about discretionary purchases like hardware. Bigger…

To use this website, cookies must be enabled in your browser. To enable cookies, follow the instructions for your browser below.

Facebook App: Open links in External Browser

There is a specific issue with the Facebook in-app browser intermittently making requests to websites without cookies that had previously been set. This appears to be a defect in the browser which should be addressed soon. The simplest approach to avoid this problem is to continue to use the Facebook app but not use the in-app browser.

This can be done through the following steps:

1. Open the settings menu by clicking the hamburger menu in the top right

2. Choose “App Settings” from the menu

3. Turn on the option “Links Open Externally” (This will use…

(Bloomberg) — Uber Technologies Inc. is asking New York City’s taxi regulator to reconsider proposed changes to commercial auto insurance requirements, saying they may unintentionally leave thousands of drivers in one of the company’s largest markets unable to insure their vehicles.

Uber prepared written comments ahead of a public hearing to be held Wednesday by the Taxi and Limousine Commission, or TLC, regarding the proposed requirements. As part of these changes, the regulator would add language requiring all TLC-licensed vehicles — including yellow cabs and rideshare cars — to be covered by an insurance policy issued by a “solvent and responsible company authorized to do business” in New York. It would also require…

Republika Srpska Finance Minister Zora Vidović said that Republika Srpska will allocate 25.5 million BAM from the budget next year to support the economy with new technologies, and noted that the RS debt is not growing, as the opposition claims, but is falling.

“The public debt of Republika Srpska was the highest in 2005, at 53.68 percent of GDP, and now it is 33.33 percent. The debt is not growing, as the opposition claims, but falling. Republika Srpska will not go bankrupt, no matter who claims it. Better days are coming for us next year because we are fulfilling all obligations and implementing the agreed budget consolidation,” said Vidović in her closing remarks on the proposed Republika Srpska budget for next year, which…

The company writes this in a short press release. “The board of directors of the Company has this evening decided to file for bankruptcy. The board decision is unanimous and is due to the fact that there is no longer a realistic opportunity to raise sufficient capital to continue operations. The bankruptcy petition will be filed this evening,” reads the announcement, which was published on 10 December.

There had been signs that the company was not in a good position: Teco 2030 had only announced a strategic reorganisation of its business in September. The original business idea of producing its own fuel cell systems was abandoned in favour of licensing the company’s own technologies. Instead of investing in expensive production,…

Elon Musk has warned Bill Gates could go bankrupt in the future if Tesla meets one condition.

They are two of the most powerful and richest men on the planet, but they often don’t seen eye to eye.

Back in April 2022, Musk said he refused a philanthropy request from Gates over the stock shorting incident, which was revealed by screenshots of a text exchange between the pair.

The Tesla CEO asked Gates if he still had a ‘half billion dollar short position against Tesla’, to which the Microsoft founder replied: “Sorry to say I haven’t closed it yet […] I would like to discuss philanthropy possibilities.”

Musk says he couldn’t take Gates’ climate change philanthropy ‘seriously’ when he has a ‘massive short position against…

BANGKOK: Thailand’s cabinet on Wednesday (Dec 11) approved debt support measures, including interest suspensions and reduced principal payments, to help tackle household debt, Prime Minister Paetongtarn Shinawatra said.

The measures will help retail borrowers and smaller businesses, she told a press conference.

Finance Minister Pichai Chunhavajira told reporters the cabinet also agreed to allow banks to pay a reduced annual contribution of 0.23 per cent of their deposits to the Financial Institutions Development Fund (FIDF) for three years.

The reduced FIDF contributions would help banks support debtors, officials have said.

Banks currently must pay an annual regular contribution rate of 0.46 per cent of their deposits to the FIDF,…

Katies was once a staple of the Australian fashion industry but the brand will be lost to time as its remaining 80 stores are shut for good in January.

The closures are one lever being pulled in a delicate bid to stabilise parent company Mosaic Brands, which recently entered voluntary administration owing creditors almost $250m.

Launched in Australia in the mid-1950s, Katies was known for its range of stylish fashion offerings and grew to more than 150 stores nationwide.

Know the news with the 7NEWS app: Download today

However, experts say management had neither adapted to recent market conditions nor allowed it to stand out from other retailers within Mosaic’s stable.

“Mosaic Brands had overlapping brands targeting similar…