FRANKFURT The headwinds buffeting the global auto industry made themselves felt in Europe on Thursday as mass-market carmaker Ford and luxury-focused Jaguar Land Rover announced sweeping restructurings that will cost thousands of jobs.
Ford Motor Co. said it will drop an unspecified number of jobs in Europe as it seeks to make its business there more consistently profitable. Ford is refocusing on commercial trucks and SUVs and dumping less lucrative models while shifting production to electric cars over the longer term.
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The Dearborn, Michigan-based company said reductions would be achieved as far as possible through voluntary departures negotiated with u…
Read the full article at: https://www.prpeak.com/business/ford-to-shake-up-european-business-cut-jobs-1.23589098
Medical debt is part of the terrible legacy of asbestos exposure in America.
Cancer therapies are expensive for all patients in the U.S. The average cost of a major chest surgery is about $40,000, and eight weeks of chemotherapy may cost up to $30,000.
These medical bills often come at the same time the patient can no longer work or when a relative must stop working to become a caregiver.
Mesothelioma treatment may be extra costly because of how rare the disease is. Most patients have to travel to another city or even across the country to find doctors familiar with asbestos-related cancer.
All these costs combined can lead to a treatment side effect called financial toxicity. This is when patients feel so much stress over medical bills…
Read the full article at: https://www.asbestos.com/treatment/medical-debt/
For financial goals that are about three years away, investing in debt funds help in generating tax effective returns.Compared with a net inflow of Rs 1.42 lakh crore in November 2018, mutual funds registered a net outflow of Rs 1.36 lakh crore in December 2018. While the equity asset base continues to be robust, it is the debt mutual funds that saw heavy redemption. However, industry experts are attributing such outflows to the end of quarter effect and advance tax outflows as the reasons for the huge outflows from liquid and money market funds.
Debt mutual fund investors were largely left disappointed in 2018 as returns dipped due to rising bond yields and were also hit by credit downgrades. Controlled inflation and any RBI repo rate cu…
Read the full article at: https://www.financialexpress.com/money/mutual-funds/relax-do-not-blindly-exit-debt-mutual-funds-heres-an-investment-strategy-for-2019/1438455/
Debt: Why more people are pressing the bankruptcy button
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A hug, a dance and a song is hardly the reaction you would expect from someone just about to be declared bankrupt.
The threat of losing your home, a year of financial restrictions, three years of paying creditors, and a six-year blight on your credit rating does not …
Read the full article at: https://www.bbc.co.uk/news/business-38668084
STOCKHOLM — Ericssons (NASDAQ: ERIC) focus on simplifying and stabilizing the business has during the three first quarters of 2018 resulted in stronger gross margins and a stabilizing topline. Focus has been on addressing underperforming areas while creating a strong platform for future growth. There has been solid progress in most portfolio areas.
In Segment Digital Services, that has yet to complete its turnaround, actions proceed according to plan with efficiency improvements, cost reductions and half of the identified 45 critical and non-strategic projects addressed to date. However, the Business Support System (BSS) area is not showing satisfactory progress jeopardizing Segment Digital Services overall profitability target for …
Read the full article at: https://www.lightreading.com/oss-bss/bss-(inc-billing-revenue-assurance)/ericsson-outlines-cost-of-restructuring-bss-business/d/d-id/748723
Ericsson shares fell 4 per cent on Thursday after the Swedish telecoms equipment maker warned that restructuring a troubled division would cost about $850m.
The company said that operating profit in the fourth quarter would be hurt by SKr6.1bn ($700m) in provisions in its lossmaking business support systems unit.
Restructuring the unit which provides digital services to telecoms operators accounts for SKr3.1bn of the provisions, and is likely to lead to SKr1.5bn in extra charges this year as Ericsson cuts jobs.
Ericsson and its Finnish rival Nokia are jostling for position against Chinas Huawei as telecoms operators worldwide decide when to launch the next generation of networks, known as 5G, which offers the prospects of faster spee…
Read the full article at: https://www.ft.com/content/87befda6-14c0-11e9-a581-4ff78404524e
BERLIN
Ford Motor
Co.
is launching an overhaul of its loss-making European business that is expected to include thousands of job cuts, plant closures and the scrapping of low-profit models amid a storm of bad news for global car makers.
The move is part of a broad cost-cutting effort Ford Chief Executive Jim Hackett has embarked on in a rapidly changing automotive landscape buffeted by electric vehicles and a push toward autonomous driving. In October, Ford informed employees of a global reorganization that could affect salaried jobs, part of Mr. Hacketts push to improve profits and boost its flagging stock price.
Steven Armstrong, the companys president of Europe, Mi…
Read the full article at: https://www.wsj.com/articles/ford-announces-major-european-restructuring-11547117814
newsletters, editors-pick-list, Martin Building Services, liquidation, builder, Denis Martin, James Shaw, Shaw Gidley, insolvency
ONE of the Hunters best-known homegrownbuilders, Martin Building Services, has foldedwith debts of almost $10 million. The company, which began in Maitland almost 20 years ago, was placed in the hands of insolvency expertsin December at the request of director and owner Denis Martin. James Shaw, a partner of Shaw Gidley Insolvency Reconstruction, was appointed liquidator on December 14. Mr Shaw said early investigations indicated employees would be paid and the remaining assets would go to the companys banker, which has security over itsassets. It is unlikely that there will be anything for creditors, he said. …
Read the full article at: http://www.theherald.com.au/story/5844492/hunter-builder-folds-under-10m-debt/
This has reference to earlier intimation dated 19th July, 2018 regarding admission of application for initiation of Corporate Insolvency Resolution Process (CIRP) under Section 9 of the Insolvency and Bankruptcy Code, 2016(IBC) by the Honble National Company Law Tribunal (NCLT), Kolkata Bench and subsequent appointment of Interim Resolution Professional (IRP) in our Company as per the NCLT Order dated 17th July, 2018.
The Honble National Company Law Appellate Tribunal (NCLAT), New Delhi has decided the matter on 8th January, 2019 setting aside the order passed by NCLT, Kolkata Bench, Kolkata, in CP (IB) No. 203/KB/2018 dated 17th July, 2018, on the grounds that the application under Section 9 of the Insolvency and Bankruptcy Code, 2016(I…
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/stone-india-ltd-corporate-insolvency-resolution-process-cirp-updates-corporate-insolvency-resolution-process-cirp/article25960027.ece
If youre struggling with problem debt and dont know what to do, the Insolvency Service of Ireland can help get you back on track.
The independent government organisation has a range of solutions, depending on your level of debt. When you contact them they will put you in touch with a debt advisor either a Personal Insolvency Practitioner (PIP) or Approved Intermediary (AI) to direct you towards the right choice for you.
They offer four main options:
- Debt Relief notice (DRN): for debts up to 35,000
- Debt Settlement Agreement (DSA): for debts without a mortgage
- Personal Insolvency Arrangement (PIA): for debts including a mortgage
- Bankruptcy: you must first have tried to solve your debt problems using the three alternatives listed above be…
Read the full article at: https://www.irishmirror.ie/lifestyle/debt-overwhelming-isi-can-help-13837933
The Company informs that the Ninth (9) Meeting of Committee of Creditors of Ricoh India Limited under Regulation 19 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 was held yesterday i.e Wednesday, 9th January 2019.
This is a Post Facto intimation of the Committee of Creditors Meeting.
Source : BSE – www.bseindia.com
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/ricoh-india-ltd-corporate-insolvency-resolution-process-cirp-intimation-of-meeting-of-committee-of-creditors/article25959755.ece