Insolvency Guardian Media Centre
Capping a breakout year, Roku announced Scott Rosenberg will be promoted from advertising chief to GM of its platform business in January in an executive restructuring.
Steve Shannon, a 5-year veteran who headed the content and services unit, will be exiting the company.
Under Rokus new executive structure, staff and resources for advertising, content distribution and related services will be combined. The company said the move will help it roll out innovative products, drive user engagement and generate more revenue from active accounts.
Rosenberg joined Roku in late 2012 to build the companys ad business. While skeptics wonder about the long-term prospects given the presence of tech behemoths like Amazon, Google and Appl…
Read the full article at: http://deadline.com/2017/12/roku-ups-scott-rosenberg-to-platform-business-gm-as-steve-shannon-exits-1202233075/
John McDonnell has said the UK is in the grip of a personal debt crisis with levels of unsecured borrowing predicted to hit a record of £19,000 per household by the end of this parliament.
The shadow chancellor said the increase in debt, to more than £14,000 per household this year, was alarming.
Analysis from Labour shows unsecured debt is on course to exceed £15,000 per household next year and could go on to exceed £19,000 per household by 2022 if it follows the current trajectory.
It is understood Labour plans to focus on the issue in the new year, warning that the continuing squeeze on wages and the high level of inflation are contributing to high levels of personal debt.
On Wednesday the Resolution Foundation, a thinktank, pre…
Read the full article at: https://www.theguardian.com/money/2017/dec/27/uk-household-debt-john-mcdonnell-warns-alarming-increase
Banks will be pressed to take stakes in family homes next year in swaps for mortgage debt as part of a push to resolve some of the most distressed personal insolvency cases.
The first cases involving the use of so-called debt-for-equity swaps are expected to be decided by the courts in 2018 as the little-known measure within existing personal insolvency legislation is used to solve some of the worst mortgage arrears cases where loans have not been paid for years.
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Read the full article at: https://www.irishtimes.com/news/ireland/irish-news/push-for-banks-to-take-stake-in-homes-to-resolve-debt-cases-1.3339185
A Rockingham security company has been forced to repay more than $200,000 to its employees after under-paying them for just over 12 months.
Sureguard Security Pty Ltd landed in the Federal Court of Australia over the underpayments, and was fined last week for the offences which affected 22 employees.
The company admitted contraventions of the Fair Work Act by failing to pay casual loading, allowances, and minimum, overtime and penalty rates of pay between December 29, 2014 and January 10, 2016.
The underpayments left security guards employed by Suregurd Security out of pocket to the tune of $205,408.40, with one underpaid by $20,563.27, 10 underpaid…
Read the full article at: http://www.watoday.com.au/wa-news/perth-security-firm-cops-fine-for-underpaying-workers-20171227-h0anq7.html
LONDON: Barclays expects to take a writedown of about £1 billion ($1.34 billion) on its annual post-tax profit as a result of the US tax overhaul, the bank said in a statement on Wednesday.
The reform to the tax system signed into law by President Donald Trump on Dec. 22 will force the British lender to reduce the value of its deferred tax assets, prompting it to take a one-off charge in its results for the 12 months to the end of December.
It will also lead to the banks common equity Tier 1 capital ratio, a key measure of its financial strength, falling by about 20 basis points, the lender said.
Since taking the helm at Barclays in December 2015, Chief Executive Jes Staley has streamlined the bank into a trans-Atlantic lender focused o…
Read the full article at: http://www.arabnews.com/node/1215386/business-economy
Ms Markle joined the Queen and the rest of the Royal family at Sandringham on Christmas Day, and was seen walking arm-in-arm with the Prince to the service at St Mary Magdalene Church.
Prince Harry said that the family “loved having her there”, adding that they had “great fun” staying with the Duke and Duchess of Cambridge, and playing with their children.
Describing Ms Markle’s first royal Christmas, he said: “It was fantastic, she really enjoyed it, the family loved having her there. Together, we had an amazing time, we had great fun staying with my brother and sister-in-law and running around with the kids.”
This year, the Queen used her Christmas message to welcome Ms Markle into the family. Displaying a photo of the Prince and h…
Read the full article at: https://www.brisbanetimes.com.au/entertainment/celebrity/prince-harry-says-the-royals-are-the-family-meghans-never-had-20171228-h0arag.html
By Tom Arnold
DUBAI (Reuters) – A Saudi Arabian businessman whose family’s commercial empire is involved in a multi-billion dollar debt dispute has been released from detention in the kingdom’s Eastern Province, according to sources familiar with the matter.
Abdulaziz al-Sanea’s release comes as the government steps up efforts to find a company to run a struggling 750-bed hospital owned by his family, a search that has turned the spotlight on the kingdom’s effort to bring overseas investors into the healthcare sector.
Al-Sanea was freed late last week after being detained in October for unpaid debts, related at least in part to the hospital, according to the sources.
An arrest warrant, issued in October for hi…
Read the full article at: https://au.news.yahoo.com/a/38423206/saudi-businessman-in-debt-dispute-released-from-detention-sources/
The last week saw gambling industry players Penn National Gaming Inc. PENN and Boyd Gaming Corporation BYD announcing buyouts.
Melco Resorts & Entertainment Limited MLCO announced the launch of a luxury hotel brand, NUWA.
Week’s Most Important Stories in Detail
Penn National agreed to buy Pinnacle Entertainment Inc. (PNK) for $1.87 billion in cash and stock. Taking into account Pinnacle Entertainment’s debt, the total value of the deal is $2.8 billion. Pinnacle shareholders will get $20.00 in cash and 0.42 shares of Penn National shares for each Pinnacle share they own. This brings the purchase price to $32.47 per Pinnacle share based on Penn National’s closing price as of Dec 15.
As part of the deal, Pen…
Read the full article at: http://www.nasdaq.com/article/gambling-stock-roundup-penn-byd-announce-buyouts-mlco-launches-hotel-brand-cm897311
The last week saw gambling industry players Penn National Gaming Inc. (PENN – Free Report) and Boyd Gaming Corporation (BYD – Free Report) announcing buyouts.
Melco Resorts & Entertainment Limited (MLCO – Free Report) announced the launch of a luxury hotel brand, NUWA.
Weeks Most Important Stories in Detail
Penn National agreed to buy Pinnacle Entertainment Inc. (PNK) for $1.87 billion in cash and stock. Taking into account Pinnacle Entertainments debt, the total value of the deal is $2.8 billion. Pinnacle shareholders will get $20.00 in cash and 0.42 shares of Penn National shares for each Pinnacle share they own. This brings the purchase price to $32.47 per Pinnacle share based on Penn Nationals closing pric…
Read the full article at: https://www.zacks.com/stock/news/287127/gambling-stock-roundup-penn-byd-announce-buyouts-mlco-launches-hotel-brand
ITT Inc.ITT has managed to impress investors with its recent winstreak, as earnings have trumped estimates in the four trailing quarters. The company expects to continue earnings momentum on the back of strong productivity, business streamlining and cost containment measures.
ITT’s performance has reflected well on share price, exhibiting investor optimism. The company’s shares have appreciated 35.8% in the last six months, against the industry ‘s average decline of 6.2%. We believe ITT, which enjoys a strong foothold in an expanding automotive market has several growth drivers working in its favor, in the quarters to come. Read on to find out the key drivers at the moment.
Factors at Play
ITT’s focus o…
Read the full article at: http://www.nasdaq.com/article/itt-set-to-expand-on-restructuring-cost-saving-program-cm897052
More than 8,600 employers nationwide spent part of November and December looking for a new workers compensation insurer.
The need for replacement coverage came after the Florida Department of Financial Services declared insolvent and subsequently took over Fort Lauderdale, Florida-based Guarantee Insurance Co. An article about the proceedings was the ninth most read Workers Compensation story on BIs website in 2017.
The American Guaranty Fund Group in Florida was given the responsibility of handling existing claims for Guarantee, which insured 1,250 companies in Florida, giving insureds 30 days to secure coverage elsewhere. Companies in states affected by the insolvency would be handled by their perspect…
Read the full article at: http://www.businessinsurance.com/article/20171227/NEWS08/912318149/9-Florida-takes-over-troubled-comp-insurer
In this interview with CalvinAyre.coms Becky Liggero, Conny Dorrestijn of Holland Fintech points out what the gambling industry needs to do to improve its reputation.
Business reputation is a by-product of what people think and feel about a business. It is based on what theyve heard, the facts they have gathered, and most importantly, their experience.
Unfortunately, many gambling operators believe that how they think their business appears to others is the be all and end all of building a business reputation.
Conny Dorrestijn of Holland Fintech pointed out that the gambling industry can learn a lot from the banking industry when it comes to building their business reputation.
She recalled that people lost faith in the banking system in the…
Read the full article at: https://calvinayre.com/2017/12/27/business/conny-dorrestijn-gambling-industry-wants-innovation-not-risk-video/