Insolvency Guardian Media Centre
Compared to the latest wind selling price (69c), we must eliminate 36c of cost from the capital recovery to make Medupi competitive with wind. This requires a 68% write-off of the asset value making a R131bn deficit in the Eskom balance sheet.
As Jabu Mabuza said: Someone must pay.
5. The one basic truth
There is one basic truth: business is risky. And Eskom is a business. In business, risks are borne by shareholders. For Eskom that means us.
Eskom took on substantial risk when it approved construction of the two coal-fired power stations Medupi and Kusile. Other capital projects around the world have exceeded their budgeted costs. For example, the International Space Station, various infrastructu…
Read the full article at: https://www.businesslive.co.za/bd/opinion/2019-02-08-eskom-restructuring-is-just-the-illusion-of-action/
This press release was orginally distributed by SBWire
Edison, NJ — (SBWIRE) — 02/08/2019 — A new business intelligence report released by HTF MI with title “Global Credit Settlement Market Size, Status and Forecast 2018-2025” has abilities to raise as the most significant market worldwide as it has remained playing a remarkable role in establishing progressive impacts on the universal economy. The Global Credit Settlement Market Report offers energetic visions to conclude and study market size, market hopes, and competitive surroundings. The research is derived through primary and secondary statistics sources and it comprises both qualitative and quantitative detailing. Some of the key players profiled in the study are Guardian Debt …
Read the full article at: http://www.digitaljournal.com/pr/4149305
We refer to the intimation made on January 28, 2019 for 15th Meeting of Committee of Creditors (COC) and would further like to inform you that the said meeting was conducted on February 02, January, 2019 to provide business and Corporate Insolvency Resolution Process (CIRP) updates and discussion was held between CoC members and the Resolution Applicant on the resolution plan presented by the Resolution Applicant.
The e-voting for consideration of the Resolution Plan held at the 15th meeting of the CoC commenced on Monday, February 04, 2018, at 04:15 p.m. and concluded on Tuesday, February 05, 2018, at 04:15 p.m. The said Resolution Plan was rejected by the members. A petition has been submitted for liquidation to the NCLT, Mumbai Bench…
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/ushdev-international-ltd-corporate-insolvency-resolution-process-cirp-updates-corporate-insolvency-resolution-process-cirp/article26213835.ece
Mattel has revealed its fourth quarter financial results, in which Barbie and Hot Wheels were by far the companys strongest brands with highest full year gross sales. This also helped to offset the declines in its other brands such as Fisher-Price, Thomas and American Girl.
The company reported a full year net sales of US$4.51 billion and fourth quarter net sales of US$1.52 billion. Out of which, Barbies gross sales in the quarter increased by 12% and 15% in constant currency, compared to the previous year. This was primarily driven by positive point-of-sale (POS) brand momentum, as said in the financial report. Meanwhile, Hot Wheels gross sales for the quarter increased by 9% and 12% in constant currency, compared t…
Read the full article at: https://www.marketing-interactive.com/barbie-and-hot-wheels-pull-mattel-to-success-despite-toys-r-us-liquidation-impact/
Retirement planning
People try to save as much as they can for retirement. However, most find that their efforts often fly out the window without a proper goal and plan.
Creating an achievable long-term retirement plan is absolutely necessary. Likewise, its also important to learn the skills that will enable an individual to grow their retirement nest eggfrom creating a plan to investing and everything in between.
How to save money
Saving money requires a simple strategy that takes the individuals income, expenses, budget and savings goals into consideration. There are many strategies that individuals can employ to save money according to their specific purpose without sacrificing their quality of life. In fact, small changes in their lifest…
Read the full article at: https://www.nestegg.com.au/investing/financial-literacy
news, latest-news,
A popular Wendouree clothing outlet will shut its doors after its parent company announced Australia-wide stores would enter voluntary administration in mid-January. The Ed Harry store inside Stockland Wendouree will soon close after clearing its stock, leavingone full-timeand five casualmembers looking fora new job. Parent company KPMGs voluntary administratorBrendan Richards spoke about the nation-wide store closure. Unfortunately, and despite having run a comprehensive sale of business campaign, there have been no viable offers received for the ongoing operations of the Company, he said. Ed Harry Managing Director David Clark also thanked the Ed Harry team in a statement provided toThe Courier. Our hard working Ball…
Read the full article at: https://www.thecourier.com.au/story/5894238/no-viable-offers-means-closing-day-looms-for-wendouree-store/
Three weeks after entering voluntary administration, specialty menswear retailer Ed Harry is closing down for good.
It was the companys only option, according to administrators Brendan Richards and Gayle Dickerson of KPMG, who said they had received no viable offers to purchase the business.
Despite a thorough sale campaign being undertaken, there has been limited interest from the market in the business as a going concern, Richards said.
Remaining stock will be sold and the companys operations will be fully wound down over the next six to eight weeks.
The closure will impact nearly 500 staff who work across 87 stores nationwide and in the head office in Adelaide, South Australia.
Ed Harry is just the latest retailer to end up on the…
Read the full article at: https://www.insideretail.com.au/news/ed-harry-closing-down-for-good-201902
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Company to allow employees to use vacation time to pay student debt
Updated: 1:30 PM CST Feb 7, 2019
Insurance provider Unum has started a new program to help employees deal with student debt.Beginning next year, Unum employees can use paid time off that they carry over to pay part of their student debt.Each employee can carry over up to five days or 40 hours of unused paid time that will be transferred to a program that will pay against student debt.The company said this option is available to any employee in the United St…
Read the full article at: https://www.wdsu.com/article/unum-to-allow-employees-to-use-vacation-time-to-pay-student-debt/26237603
DUBLIN, Ireland, Feb. 07, 2019 (GLOBE NEWSWIRE) — Avadel Pharmaceuticals plc (Nasdaq: AVDL) provided clarification regarding the restructuring actions announced earlier today.
- As part of the restructuring plan, Avadel Specialty Pharmaceuticals, LLC, a special purpose entity and wholly-owned subsidiary responsible solely for NOCTIVA-related activities, made a voluntary filing on February 6, 2019 under Chapter 11 of the United States Bankruptcy Code.Avadel Pharmaceuticals plc and other corporate entities remain solvent and substantially unaffected.
- The restructuring actions do not trigger a default or violate covenants related to the 4.50% Exchangeable Senior Notes due in 2023.
About Avadel Pharmaceuticals plc
Avadel Pharmaceuticals plc…
Read the full article at: https://globenewswire.com/news-release/2019/02/07/1713620/0/en/Avadel-Pharmaceuticals-Clarifies-Announcement-of-Corporate-Restructuring.html
PUBLISHED: 16:22 07 February 2019 | UPDATED: 16:26 07 February 2019
44-ton Enviro-Waste tanker negotiating the Bowbeck crossroads
Two waste management companies, one of which has been running for 27 years, have both collapsed in Ipswich.
…
Read the full article at: https://www.eadt.co.uk/business/envirowaste-company-is-liquidated-but-not-go-tankers-ltd-1-5883456
NEW YORK, Feb. 07, 2019 (GLOBE NEWSWIRE) — Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court and further details about the cases can be found at the links provided. There is no cost or obligation to you.
YRC Worldwide Inc. (NASDAQGS: YRCW)
Class Period: March 10, 2014 – December 14, 2018
Lead Plaintiff Deadline: March 4, 2019
Join the action: https://www.zlk.com/pslra-1/yrc-worldwide-inc-loss-form?wire=3
About the lawsuit: During the class period, YRC Worldwide Inc. allegedly made materially false and/or misleading statements and/or f…
Read the full article at: https://globenewswire.com/news-release/2019/02/07/1713733/0/en/CLASS-ACTION-UPDATE-for-YRCW-YRIV-MKL-and-MU-Levi-Korsinsky-LLP-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders.html
Bournemouth brothers Shahab Hashtroudi, Shahin Hashtroudi, and Hedayat Hashtroudi, ran pubs and restaurants in Hampshire, Dorset and Surrey, using the money to prop up their loss-making business empire and fund their lifestyle. Shahab Hashtroudi drove a Porsche and sent his child to private school.
From October 2008 they set up 11 companies, all of which failed leaving huge debts. None of the companies lasted longer than 24 months, with some trading for less than a year. Some failed to pay a single penny in VAT to HMRC, while also failing to pass on the income tax and National Insurance contributions (NICs) of their employees.
Their bookkeeper Tracy Carder, from Poole, enabled the fraud to continue by deceiving HMRC about the companies tru…
Read the full article at: https://www.accountancydaily.co/brothers-jailed-14-years-ps3m-tax-fraud