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
Exciting Events, the company behind the disastrous Norwich Fortnite Live festival, has gone into liquidation after Epic Games filed a lawsuit against it in Londons high court.
The company hosted a Fortnite-inspired event without authorization from Epic, using the companys trademarks and intellectual properties. Epic took the issue to court yesterday.
These proceedings by Epic Games has had a catastrophic impact on the companys ability to trade, which has forced Exciting Events Limited to cease all trading activities immediately and the director of Exciting Events will now seek to limit the losses to third parties as far as possible, the companys director Shaun …
Read the full article at: https://dotesports.com/fortnite/news/the-company-behind-the-fortnite-live-norwich-festival-has-gone-into-liquidation-after-epic-lawsuit
Remember the old days?
When youd sit down at your kitchen table with a stack of bills on one side and a checkbook on the other. Paper envelopes were opened and receipts saved as you desperately tried to organize your finances.
Managing your money was a full-day affair and even after youd finish, it was hard to tell exactly where you stand.
Times have changed.
Tracking your money and staying on budget is easier than ever now with the abundance of financial applications. You can automate bill payments, track financial goals, and know your actual net worth by the month, week, day, or even second.
However, there are a lot of choices when it comes to selecting which finance apps you should consider. Today Ill share my top six must-have apps for ma…
Read the full article at: https://dailyreckoning.com/6-must-have-apps-for-managing-debt/
Debt is a trap that is very easy to get into. Is debt consolidation a good idea? That depends.
Debt can prove challenging to get oneself out of. Whether through reckless spending habits or the gradual accumulation of debt responsibilities, too many Americans are mired in hopeless levels of debt.
The general rule of thumb for attaining appreciable financial wealth is to have several income streams. That way, your chances of becoming wealthy improves dramatically.
Yet many people find themselves in deepening debt holes because they have instead multiple recurring debts. Debt increases as people attain more material items, struggle to maintain a preferred lifestyle, or assume new debt to pay off existing debt.
T…
Read the full article at: https://realdaily.com/is-debt-consolidation-a-good-idea-depends-on-the-person/
The company behind the Fortnite Live event that was described as a shambles has gone into liquidation, hours after the makers of the game announced they had taken legal action.
Hundreds of people demanded refunds after they spent hours waiting to enter Norfolk showground on Saturday, with attendees complaining of underwhelming attractions and high ticket prices.
There was only space for four children to practise archery simultaneously, and one climbing-wall tower, which could accommodate three climbers, for the estimated 2,800 people at the event.
In an email sent with heavy hearts to ticket holders, Exciting Events said it would cease all activities immediately.
These proceedings by Epic Games has had a catastrophic impact on the compa…
Read the full article at: https://www.theguardian.com/games/2019/feb/20/fortnite-live-company-goes-into-liquidation-creators-file-lawsuit-norwich-event
Ford Motor Co. is shutting a factory in Brazil in an attempt to turn around its money-losing South American business, dealing a blow to Jair Bolsonaro less than two months into his presidency.
The automaker expects to record $460 million in charges related to exiting the heavy-truck business in all of South America, according to a statement. Its halting production this year at its So Bernardo do Campo assembly plant, which employs almost 2,800 workers building Cargo, F-4000 and F-350 trucks, plus the Fiesta small car.
We know this action will have a major impact on our employees in So Bernardo and we will be working closely with all our stakeholders on the next steps, Lyle Watte…
Read the full article at: http://fortune.com/2019/02/20/ford-shutters-brazil-truck-plant/
The most recent development in the Gupta drama that has been ever-present in South African news sees one Gupta-owned company potentially putting another into liquidation.
Tegeta sprung into prominence when former Public Protector detailed Eskoms involvement, allegedly at the behest of the Guptas in making the sale of the Optimum mines to Tegeta possible at the expense of Glencore.
Tegeta stopped trading during 2018 but owns shares in the Richards Bay Optimum Coal Terminal, as well as the Koornfontein Mines, and Shiva Uranium. Oakbay owns a 59% stake of Shiva Uranium, another mine under business rescue.
As reported by Baldwin Ndaba from The Star, Tegeta was also placed under business rescue, and…
Read the full article at: https://www.thesouthafrican.com/gupta-companies-apply-liquidation-oakbay-tegeta/