Top Deutsche Bank executives were so concerned after the 2016 election that the Trump Organization might default on about $340 million of loans while Donald Trump was in office that they discussed extending repayment dates until after the end of a potent…
Read the full article at: https://www.bostonglobe.com/business/2019/02/20/deutsche-bank-weighed-restructuring-trump-loans-default-risk/0dmL6XSakU5Un7pRktD7hP/story.html
NEW YORK, Feb. 20, 2019 (GLOBE NEWSWIRE) — Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Yangtze River Port and Logistics Limited (NASDAQ: YRIV) from February 2, 2016 through December 5, 2018, inclusive (the Class Period) of the important March 4, 2019 lead plaintiff deadline in the class action filed by the firm. The lawsuit seeks to recover damages for Yangtze River investors under the federal securities laws.
To join the Yangtze River class action, go to https://www.rosenlegal.com/cases-1476.html or call Phillip Kim, Esq. or Zachary Halper, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.
NO CLASS HAS YET BEEN CERT…
Read the full article at: https://globenewswire.com/news-release/2019/02/20/1738864/0/en/YRIV-MARCH-4th-DEADLINE-Rosen-Law-Firm-Reminds-Yangtze-River-Port-and-Logistics-Limited-Investors-of-Important-Deadline-in-Securities-Class-Action-YRIV.html
- PepsiCo has kicked off a round of layoffs impacting employees in multiple offices, two people who were laid off by the company told Business Insider.
- The company announced in a quarterly earnings call last week that it expects to incur $2.5 billion in restructuring costs through 2023, with 70% of charges linked to severance and other employee costs.
- Roughly $800 million of the $2.5 billion is expected to impact 2019 results.
- PepsiCo also recently announced plans to restructure the organization and “relentlessly” invest in automation.
PepsiCo has kicked off a round of layoffs as it begins a four-year restructuring plan that is expected to cost the company hundreds of millions of dollars in severance pay.
This week, Pe…
Read the full article at: https://www.thisisinsider.com/pepsico-layoffs-begin-restructuring-plan-kicks-off-2019-2
With two major cases in the final stage of resolution, the Finance Ministry expects bad loan recoveries to touch Rs 1.80 lakh crore in the ongoing financial year.
So far, banks have recovered Rs 1 lakh crore under the Insolvency and Bankruptcy Code. The recovery is expected to touch Rs 1.80 lakh crore by March 2019 with some of the resolutions at the final stage, Financial Services Secretary Rajiv Kumar said.
Lenders are expecting to recover almost Rs 52,000 crore loan in case of Essar Steel Ltd. and Rs 18,000 crore from Bhushan Power & Steel Ltd.
Besides, the National Company Law Tribunal is expected to finalise corporate insolvency resolution process of several stressed assets, including Videocon Group, Monnet Ispat, Amtek Auto and Ruchi …
Read the full article at: https://www.bloombergquint.com/law-and-policy/finance-ministry-expects-rs-180-lakh-crore-bad-loan-recovery-by-march
One of Turkeys leading coach companies Ulusoy Ulam A. was ruled legally bankrupt Wednesday, independent news site Diken reported.
The ruling by a Turkish court arrives following a three-month bankruptcy protection period filed by the company in November of 2018.
A family dispute led to the breakup of Ulusoy group in 2008. Ulusoy Seyahat was declared bankrupt in 2017, however, Ulusoy Ulam A.., announced that it was not affiliated with the company and resumed its services under the same name.
Ulusoy joins over 3000 companies who applied for bankruptcy protection due to market volatility following Turkeys 2018 financial crisis.
The lira fell by 28 percent against the dollar last year, spurring inflation to more than 20 percent, the high…
Read the full article at: https://ahvalnews.com/turkey-bankruptcy/turkish-court-declares-leading-coach-company-ulusoy-bankrupt
Debt-stressed home owners and renters are increasingly turning to alternative lenders offering so-called “payday” loans and consumer leases, as falling property prices plunge more households into negative equity and banks crack down on credit.
Key points:
- Payday lenders are growing faster than banks as mainstream credit tightens
- Ease of access to online lenders is pushing households into risky debt situations
- There are calls for tighter regulation of the burgeoning sector
A combination of cost of living pressures outstripping CPI, stagnant wages growth and rising levels of mortgage stress is bei…
Read the full article at: https://www.abc.net.au/news/2019-02-21/payday-loans-increase-as-households-pushed-into-risky-credit/10827342