Senior Australian officials believe Pacific Island and Asian nations are reassessing the value of receiving Chinese foreign aid after seeing Beijing’s heavy-handed treatment of them when they seek debt relief.
As a new US State Department report, as revealed by The Australian Financial Review, warns China is creating a “debt trap” for smaller nations in a bid to upend the strategic balance of power, officials in Canberra hope that greater public exposure of Beijing’s tactics will shame the Chinese into changing its predatory practices and ultimately forgive the loans.
Regional leaders had their eyes opened after Tonga’s experience following Cyclone Gita this year. While China has lent or gifted hundreds of millions of do…
Read the full article at: http://www.afr.com/news/chinas-pacific-aid-push-backfiring-australian-officials-believe-20180514-h101m4
Administrators say it is in the interests of creditors for the company, which is linked to Alpha Insurance, to liquidate ahead of watershed meeting.
CBL Corporation, the parent company of Ireland-based CBL Insurance Europe and CBL Insurance in New Zealand, should go into liquidation according to voluntary administrator KordaMentha.
The administrators stated in a creditor report that no restructuring proposals had been put forward yet and advised that it would be in the best interests of creditors to place the business into liquidation.
The recommendation was made ahead of a watershed meeting that will see creditors vote on the future of the company.
The meeting is set to take place on …
Read the full article at: https://www.insuranceage.co.uk/insurer/3404616/liquidation-recommended-for-cbl-corporation
Drivers in their thousands have been left without insurance cover after insurance firm Alpha announced it had gone bust.
The drivers insured with their UK brands, Cover My Cab and Protector, received a text message stating: “Your taxi insurance policy with Alpha Insurance is cancelled with immediate effect.”
The text meant thousands of taxi drivers were left without insurance as of May 9, Wales Online reported.
According to the Licensed Taxi Drivers Association (LTDA), the company insured 700 taxi drivers and 10,000 private hire vehicles in London alone.
General Secretary of the LTDA, Steve McNamara, said: “We have notified all of our members about this change, to ensure that no-one is unintentionally driving without insurance.
“We…
Read the full article at: https://www.coventrytelegraph.net/news/coventry-news/insurance-company-alpha-goes-bust-14647835?utm_source=google_news&utm_medium=referral&utm_campaign=google_news&utm_content=sitemap
* Plans underwritten equity issue
* Also seeking new debt facilities, other capital sources
* To announce plans on Thursday (Adds detail, shares)
LONDON, May 14 (Reuters) – Britains Mothercare, the struggling mother and baby products retailer, said on Monday it would ask investors for more money as part of a major restructuring it plans to announce this week.
The firm has seen sales and profit hammered by intense competition from supermarket groups and online retailers in its main UK market as well as by rising costs.
Its shares have lost 86 percent of their value over the last year and in April it replaced Chief Executive Mark Newton-Jones with David Wood, a former Tesco executive.
Mothercare said it has been working on a comprehensive …
Read the full article at: https://www.reuters.com/article/mothercare-restructuring/update-1-britains-mothercare-to-raise-equity-as-part-of-restructuring-plan-idUSL5N1SL2IT
The Shooters Fishers and Farmers Party (SFFP) say the Premier is clueless about real drought relief for farmers.
SFFP MLC Robert Brown was highly critical of the Liberal and National Party Governments announcement of a State Drought Coordinator in Dubbo on Monday.
Mr Brown said farmers expect financial assistance from the State Government but instead got a new public servant position.
“Is the Premier kidding?”, Mr Brown said. “The Premier went to Dubbo with news of drought relief, and despite the State being awash with cash, she’s delivered nothing.
“Farmers wanted cash, but all they got today is a well-paid public service appointment.
Mr Brown said the Government is clueless and not listening to farmers.
“Farmers across New South Wales…
Read the full article at: http://www.dailyliberal.com.au/story/5400429/shooters-say-premier-is-kidding-about-drought-relief-video/
BEGBIES Traynor has appointed Adam Southard as a director of its Edinburgh office.
Mr Southard, pictured, has joined from Invocas Financial, where he spent the last five years as an insolvency practitioner. He had previously worked for Kroll (now Alix Partners), where he gained experience of working on large and complex administrations.
In his new role, Mr Southard will focus on generating work in the east of Scotland, including the expansion of consumer individual voluntary arrangements (IVAs).
Ken Pattullo, who leads Begbies Traynor in Scotland, said: With tough economic conditions affecting both consumers and businesses, we are continuing to expand our team and Adams appointment will further strengthen our per…
Read the full article at: http://www.heraldscotland.com/business_hq/16223677.Trading_Places__This_week_s_appointments_news/
The Shooters Fishers and Farmers Party (SFFP) say the Premier is clueless about real drought relief for farmers.
SFFP MLC Robert Brown was highly critical of the Liberal and National Party Governments announcement of a State Drought Coordinator in Dubbo on Monday.
Mr Brown said farmers expect financial assistance from the State Government but instead got a new public servant position.
“Is the Premier kidding?”, Mr Brown said. “The Premier went to Dubbo with news of drought relief, and despite the State being awash with cash, she’s delivered nothing.
“Farmers wanted cash, but all they got today is a well-paid public service appointment.
Mr Brown said the Government is clueless and not listening to farmers.
“Farmers across New South Wales…
Read the full article at: https://www.dailyliberal.com.au/story/5400429/shooters-say-premier-is-kidding-about-drought-relief-video/
The Shooters Fishers and Farmers Party (SFFP) say the Premier is clueless about real drought relief for farmers.
SFFP MLC Robert Brown was highly critical of the Liberal and National Party Governments announcement of a State Drought Coordinator in Dubbo on Monday.
Mr Brown said farmers expect financial assistance from the State Government but instead got a new public servant position.
“Is the Premier kidding?”, Mr Brown said. “The Premier went to Dubbo with news of drought relief, and despite the State being awash with cash, she’s delivered nothing.
“Farmers wanted cash, but all they got today is a well-paid public service appointment.
Mr Brown said the Government is clueless and not listening to farmers.
“Farmers across New South Wales…
Read the full article at: https://www.dailyliberal.com.au/story/5400429/shooters-say-premier-is-kidding-about-drought-relief-video/?cs=122
Local building contractor Archiapps has entered into voluntary administration, less than two weeks after the Building Commission issued a warning to consumers about the company.
Cameron Shaw and Richard Albarran of Hall Chadwick WA have been appointed as the administrators of the company.
Earlier this month, Building Commissioner Ken Bowron raised concerns over the financial status of ArchiApps Pty Ltd and ArchiApps Development Pty Ltd.
Mr Bowron said the number of court actions against the company had been steadily increasing over the last two months.
Today, he said the companys status would now trigger policies of home indemnity insurance.
With the company now in administration, I encourage home owners to contact their insurer for advice on…
Read the full article at: https://www.businessnews.com.au/article/Archiapps-into-voluntary-administration