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Government measures to prop up zombie businesses through the pandemic could actually be harming Australian small businesses, with new data showing company wind-ups have all but ceased in the past quarter.
Prushka Fast Debt Recovery revealed through data sourced from court records that the Australian Taxation Office and other government agencies, typically the largest source of company liquidations, have halted their winding up of businesses.
In April to June, 374 businesses issued Notices of Winding Up Applications, a decrease of 47 per cent compared to the last quarter, and 64 per cent year-on-year.
Roger Mendelson, CEO of Prushka, warned while the governments initiatives to support b…
(Bloomberg) — Deutsche Boerse AG will remove Wirecard AG from its benchmark DAX index ahead of a regular quarterly reviewfollowing the collapse of the payments company amid allegations of accounting fraud.
The decision was taken following consultations with market participants conducted after Wirecard declared insolvency in June. The results favored immediate removal of bankrupt companies from the index, rather than waiting for the review.
Delivery Hero AG is seen as the most likely candidate to take the spot among Germanys most valuable companies, according to the latest index ranking list.
According to the new rules, insolvent companies shall be removed from the DAX Selection Indices with two trading days notice, Deutsche Boerse said…
ANCHORAGE, Alaska (AP) The largest rural airline in Alaska has declared bankruptcy and laid off more than a thousand workers but wants to award $250,000 in bonus money to its chief executive and other employees.
Anchorage-based RavnAir Group filed the request Tuesday in Delaware bankruptcy court, arguing that the bonuses are justified because of long hours and the hard work that went into selling the company’s assets after it shut down during the coronavirus pandemic, Alaska Public Radio reported.
The final sale of all the assets is expected to generate more than $55 million, exceeding what the company anticipated. Chief Executive Officer Dave Pflieger has already collected $1.4 million in salary, bonuses and expense payments ov…
Unlike Commonwealth Bank, which this week said it expected the majority of people deferred loans could resume repayments, Mr McEwan said it would not make a prediction on how many of these customers would recover. The bank has in recent months been calling clients with deferred loans, and Mr McEwan said it had contacted 24,000 of the 90,000 customers so far, starting with the highest-risk loans.
As ASIC said, well take every reasonable step to keep people in homes and keep them moving, but there unfortunately will be some situations where its better off for people to actually sell up and start again, so that they can take some equity out of the situation.
NAB chief Ross McEwan
“I think well hold our views on this until weve done a lot …
ANCHORAGE, Alaska (AP) The largest rural airline in Alaska has declared bankruptcy and laid off more than a thousand workers but wants to award $250,000 in bonus money to its chief executive and other employees.
Anchorage-based RavnAir Group filed the request Tuesday in Delaware bankruptcy court, arguing that the bonuses are justified because of long hours and the hard work that went into selling the companys assets after it shut down during the coronavirus pandemic, Alaska Public Radio reported.
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The final sale of all the assets is expected to generate more than $55 million, exceeding what the company anticipated. Chief Executive Officer Dave Pflieger has already collected $1.4 million in salary, bonuses and expense pa…
An Illawarra woman who defrauded Centrelink of almost $90,000 by failing to declare income from multiple jobs has narrowly avoided time behind bars. Susan Osborne, 45, was sentenced to a 12-month intensive corrections order in Wollongong Local Court on Thursday after pleading guilty to two counts of social security fraud spanning a six-year period. Her lawyer, Patrick Schmidt, told the court Osborne had been experiencing significant trauma at the time of the offending including battling mental health issues and an addiction to gambling. The court heard Osborne had intermittently claimed welfare since 1995 but began ripping off the system in 2013 after failing to tell Centrelink about two casual jobs she was working while receiving the si…
Airline failures may not be the most cheery of topics; however, looking back at past mistakes does pave the way for the future. Remember all the airlines that didnt make it through the decade? Heres a look back at 10 airlines that collapsed between 2010 and 2020.
Which airlines collapsed between 2010 and 2020? Photo: Getty Images
2010: Mexicana de Aviacin
The turn of the decade did not bring fortune to Mexicana de Aviacin, more often known as Mexicana. Founded on July 12th 1921, it was the oldest and largest airline in Mexico and also claimed the title of being the flagship carrier. With three hubs in Mexico City, Cancun, and Guadalajara, Mexicana enjoyed a highly autonomous history until it became nationalized.
Debt consolidation loans let borrowers take out a single loan that covers the outstanding balance on some or all of their unsecured loans. The consolidation loan is then used to pay off each of the individual loans so the borrower is only responsible for a single monthly debt payment. This results in a more streamlined repayment process and can give the borrower access to a lower overall interest rate.
When evaluating loan applications, lenders generally look for a credit score between 580 and 620. However, lenders also consider factors like the applicants ability to repay the loan. Qualifying for a debt consolidation loan can be more difficult if you have bad credit but its still possibleespecially if youre open to getting a secured lo…
The author of The Godfather and two-time Academy Award winner was an avid gambler. His lifework includes insightful writings and memorable worldview on gaming, equally attractive to a general readership, casual players, and professional patrons.
Several famous writers indulged in gambling and betting in their own time. Dostoevsky, Hemingway, Fleming, Dahl, Descartes, Bukowski. A few of them also wrote about passion, mindset, panache of gamblers world, and even explored the casinos’ inner works.
Throughout the American history of the 20th century, the latter was prone to the influence of the Mafia.
Books, official records of the U.S. government, and efforts of wealthy individuals think Howard Hughes offers testimonials on the hard wor…
An Illawarra woman who defrauded Centrelink of almost $90,000 by failing to declare income from multiple jobs has narrowly avoided time behind bars. Susan Osborne, 45, was sentenced to a 12-month intensive corrections order in Wollongong Local Court on Thursday after pleading guilty to two counts of social security fraud spanning a six-year period. Her lawyer, Patrick Schmidt, told the court Osborne had been experiencing significant trauma at the time of the offending including battling mental health issues and an addiction to gambling. The court heard Osborne had intermittently claimed welfare since 1995 but began ripping off the system in 2013 after failing to tell Centrelink about two casual jobs she was working while receiving the si…
Over the years, Nebraska has decided against allowing casino gambling in the Good Lifeand for good reason.
Gambling can ruin families, hurt communities, and pile on new costs to the state. By keeping Nebraska casino-free, our state has minimized the social harms associated with problem gambling. In fact, research shows that Nebraska ranks as the fourth-least gambling-addicted state in America.
Its not just about the rankings. Theres a real human cost to casinos. When thinking about casino gambling, its important to remember that the house always wins. The allure of hitting the jackpot overshadows the more common reality of players going broke chasing the dream of winning it all. In 2017, Americans lost $107 billion from all forms …
Many developing countries have so far avoided the high Covid-19 infection and mortality rates that are being experienced elsewhere. While that may be good news, at least in the short term, the bad news is that these countries are set to be among the hardest hit in economic terms.
The World Bankestimatesthat as many as 100 million people could fall into extreme poverty as a direct result of the crisis. This is only the tip of the iceberg, as developing-country exports collapse, and small businesses, communities, and livelihoods implode.
The fiscal implications are equally dire, with tax revenues in freefall and extraordinary increases in public spending. From Bangladesh to Brazil, developing countries are trying to keep their economies a…
