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In another relief for debt-laden Reliance Communications, Mumbai-based Smartphone has withdrawn a petition seeking insolvency of the company filed before
HPE New Zealand is the next to be hit by redundancies caused by their global restructuring initiative, HPE Next, according to rumours.
Since the announcement of the initiative in October last year, there have been unofficial reports of large-scale redundancies across the many countries in which HPE operates.
Now employees of the New Zealand branch look to be next in line, with up to 18 employees facing the ramifications of restructuring.
The companys FY18 Outlook announcement stated that HPE Next was designed to simplify the organisational structure, redesign business processes and prioritize investments in growth areas, with two-thirds of the $1.1 billion funding being utilised to optimise the workforce.
CASH-strapped Australians burdened by inflated utility bills and soaring credit card debts are flocking to financial help services in record numbers.
The National Debt Helpline has been inundated with households in financial distress with latest figures showing in 2017 they received 170,000 calls – the highest ever on record.
This is a 12 per cent spike on the previous year – about 3270 calls are made to the helpline every week.
Financial Counselling Australia’s executive director Fiona Guthrie said increased monetary pressures on households had resulted in help services being flooded with calls.
More Australians are finding themselves dealing with financial issues. Picture: Supplied
Kantine Mittagsessen mit Schnitzel und Nudeln auf einem Tablett.
St. Louis schools need help paying off student meal debt
Kantine Mittagsessen mit Schnitzel und Nudeln auf einem Tablett.
ST. LOUIS Some school districts in the St. Louis area are asking the community to help pay off student meal debt for families who cant afford daily lunches for their children.
The St. Louis Post-Dispatch reports more than 2,100 students in the Francis Howell School District collectively owe nearly $19,000 in their school lunch accounts.
Schools try avoiding lunch shaming of students whose families havent replenished their lunch accounts, and prev…
The alleged plight of real estate guru John McGrath calls to minds an anecdote, probably apocryphal, from the late Lord Lucan.
Do you gamble? Lord Lucan asked a friend.
Illustration: John Shakespeare
She replied that, like most people, she enjoyed the odd flutter on the horses.
Gambling is when you bet something you cannot afford to lose, was Lord Lucan’s reply.
McGrath has admitted he likes the occassional flutter but rubbished claims that he owes more than $16 million to Australia’s least favourtie bookie: Tom Waterhouse.
The rumour has floated through the gambling industry for some time now and has shadowed his actions.
When McGrath abruptly quit the board of the Rupert Murdoch-controlled Realestate.com.au (REA) group last m…
Etihad Airways is urgently examining ways to avert a technical default of some $1.2bn in bonds indirectly linked to the Gulf airline, sources close to the situation told Reuters.
An Amsterdam-based special purpose vehicle called SPV Equity Alliance Partners (EAP) was set up in 2015 and issued two bonds for Etihad and other airlines it partially owned at the time, including Alitalia and Air Berlin, which are both now insolvent.
The bonds are quoted at a discount of more than 25 cents on the dollar after Alitalia entered special administration and Air Berlin filed for ban…
The dual citizenship fiasco is like the dying hour of a drunken Canberra dinner party.
All the guests are pointing the finger at each other about who knocked over the bottle of Cabernet Sauvignon, staining the carpet of a moderately overpriced apartment, during a meandering argument about who is the most dinky-di Aussie.
And while the blame game rages, self interest and political point scoring have distracted everyone from dousing the spillage with soda water and covering it with a mound of salt to mitigate any damage.
Sydney bus manufacturer Custom Bus has laid off more than 100 staff after going into voluntary administration on January 18.
Custom Bus went into voluntary administration on January 18
The Australian Manufacturing Workers Union (AMWU) says 109 production staff were made redundant, while another 13 walked off the factory floor.
The union says 39 administrative and management staff would continue to work at Custom Buses in Sydney and Custom Bus staff in South Australia had not…
It is in the process of executing a completely different business model for the brand in India.
Confirming its restructuring plans for India, Chinese smartphone maker Gionee on Saturday said the company is not scaling down its operations in the country.
Reacting to an IANS report that financial woes in China may hit Gionee’s India operations, David Chang, Global Sales Director, Gionee India, said that the brand is here to stay.
“We are in the process of restructuring our India team and executing a completely different business model for the brand in the market very soon,” Chang told IANS.
Sources told IANS on Friday the company may scale down its operations in India and int…
China is drafting a proposal to allow gambling on Hainan Island, people familiar with the talks said, in what would be an unprecedented move that could reshape gaming in China’s territories and transform the economy of a strategic southern province.
Government agencies under a party reform group headed by President Xi Jinping are considering allowing online gaming, a lottery or sports betting in Hainan, said the people, who asked not to be identified because the discussions aren’t public. The proposal, which is still in an early stage, could open the door to physical casinos over the long term, two of the people said. China bans gambling and casinos on the mainland.
A fisherman at work in Tanmen, in China’s southern Hainan P…
In another relief for debt-laden Reliance Communications, Mumbai-based Smartphone has withdrawn a petition seeking insolvency of the company filed before the National Company Law Tribunal (NCLT). The petition, filed under Insolvency and Bankruptcy Code (IBC), was withdrawn on Friday.
Smartphone is a wholesale dealer of batteries and had supplied to telcos, including RCom.
The Mumbai NCLT bench comprising MK Shrawat and BP Mohan disposed of Smartphone petition as withdrawn.
Earlier in January, RComs biggest foreign lender China Development Bank (CDB) withdrew a similar petition seeking insolvency of the company. RCom owes CDB and other Chinese banks about $2 billion, and the lender had filed the petition in November, citing a large amou…
HAIKOU China is drafting a proposal to allow gambling on Hainan Island, people familiar with the talks said, in what would be an unprecedented move that could reshape gaming in China’s territories and transform the economy of a strategic southern province.
Government agencies under a party reform group headed by President Xi Jinping are considering allowing online gaming, a lottery or sports betting in Hainan, said the people, who asked not to be identified because the discussions are not public. The proposal, which is still at an early stage, could open the door to physical casinos over the long term, two of the people said. China currently bans gambling and casinos on the mainland.
Etihad Airways is urgently examining ways to avert a technical default of some $1.2bn in bonds indirectly linked to the Gulf airline, sources close to the situation told Reuters. An Amsterdam-based special purpose vehicle called SPV Equity Alliance Partners (EAP) was set up in 2015 and issued two bonds for Etihad and other airlines it partially owned at the time, including Alitalia and Air Berlin, which are both now insolvent. The bonds are quoted at a discount of more than 25 cents on the dollar after Alitalia entered special administration and Air Berlin filed for bankruptcy protection last year. Etihad could now end up spending hundreds of millions of dollars to keep the bond structure alive, although it is not legally ob…
