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The Chinese government has served notice on the countrys foreign investment spree in football clubs, skyscrapers and Hollywood as it moves to curb rising levels of debt among domestic companies.
The announcement of restrictions in a range of sectors follows a buying spree around the globe during which Chinese firms and business tycoons have taken control of assets including Legendary Entertainment, the US film producer behind Jurassic World and Warcraft, buildings such as the Cheesegrater in London, and English football clubs including Southampton and Aston Villa.
The curbs were announced in a document released on Friday by the state council, Chinas cabinet, in the latest move to halt a string of foreign acquisitions. This week the …
OLYMPIA Washington State Attorney General Bob Ferguson recently announced that Lake Oswego, Ore.-based Aequitas Capital Management must provide nearly 2,000 Washington student loan borrowers more than $7 million in debt relief.
Washington Attorney General Bob Ferguson
A motion was filed in federal court that, when approved, will allow Ferguson to file an assurance of discontinuance forcing the investment management firm to reduce, and in some cases eliminate, private student loan debt it manages for former students of for-profit Corinthian Colleges.
Aequitas exploited the broken promises that Corinthian made to Washington students, Ferguson said. These student borrowers deserve relief.
DECEIT: Steve Josifovski thought he could trust his old school friend Lemuel Page, but eventually became just another of the con man’s many victims. Inset: Page and his then wife Fiona at a Josifovski family function in happier times.
EVEN now, years later, Steve Josifovski doesnt want to believe he was ripped off.
After all, he and Lemuel Page had grown up together: they’d known each other since kindergarten at Waratah West Public School, spent their weekends together.
We grew up very close, Mr Josifovski said. But when he turned 16 he moved to Sydney and we lost touch.
Then one day in late 2001, without a word for more than a decade, Page turned up at Mr Josifovski’s family home in Waratah.
According to high-profile Sydney art dealer Tim Goodman, if Facebook’s Mark Zuckerberg had his way Michelangelo’s statue of David would be draped in a respectable loin cloth while Norman Lindsay’s randy nymphs would be relegated to a sleazy back room at the Art Gallery of New South Wales, well out of public view.
Goodman has come up against Zuckerberg and his Facebook behemoth after the social media site determined art works featuring nudes that he is about to sell to the world, were too rude for the global platform.
In business, as in life, it’s good to have a Robin to your Batman, a Goose to your Maverick. In the case of Myer, chief executive Richard Umbers has now assembled the Flying V.
The executive level shake-up was brought on after the sudden departure of the retailer’s deputy chief executive and Mr Umbers’ key lieutenant Daniel Bracken, the retail wunderkind from Burberry who spearheaded the introduction of stand-alone Topshop boutiques in-store, an experiment that failed when the local arm of the high-street fashion chain went into voluntary administration earlier this year.
Myer boss Richard Umbers at the Myer spring 2017 fashion launch held in Coogee this week. Photo: Dominic Lorrimer
According to high-profile Sydney art dealer Tim Goodman, if Facebook’s Mark Zuckerberg had his way Michelangelo’s statue of David would be draped in a respectable loin cloth while Norman Lindsay’s randy nymphs would be relegated to a sleazy back room at the Art Gallery of New South Wales, well out of public view.
Goodman has come up against Zuckerberg and his Facebook behemoth after the social media site determined art works featuring nudes that he is about to sell to the world, were too rude for the global platform.
The Insolvency and Bankruptcy Board of India (IBBI), which is implementing the Insolvency and Bankruptcy Code, has said owner of undelivered properties can become part of the committee of creditors and stake a claim equivalent to the amount they have paid to realtors. Their claims, according to the regulator, would be treated on a par with claims of other financial and operational creditors and would not be pushed to the bottom of the list.
Homebuyers can now file form F, introduced by the insolvency regulator, for claims. Such entities should submit proof of their claims to the interim resolution professional or resolution professional, a notification issued by the IBBI on Wednesday said. This section of…
While Japans flagship panel maker completed its biggest two-day rally this year on Thursday, bearish bets have climbed toward a record.
Japan Display Inc. soared almost 12 percent this week, boosted by reports of strong quarterly sales of iPhones, which use the companys liquid-crystal displays. But short interest rose to 25 percent of free float as of Wednesday, approaching a record high set in May, as analysts said the companys restructuring plans announced last week were far from impressive.
Issues around Japan Display will be long running, Damian Thong, an analyst at Macquarie Group Ltd., said in Tokyo on Thursday. Its long-term restructure outlook is challenged by the reality of significant overseas competition.
Debts are debilitating and just as individuals drown in debt, it is possible that businesses might have to face similar situation for which every action must be taken carefully. One of the most promising options which allow businesses manage their debts is following consolidation plan. There are several options that you will come across when you opt for consolidation of debts such as securing a loan or debt counseling which applies for commercial establishments. What you need to do depend largely on the amount of debt that you have incurred and finding out the best recovery options is the only solution. However, you need to find out how much the amount and pulling out the statements of debt is the first thing to do.
Board of Jyoti Structures suspended w.e.f. 12 July 2017
Jyoti Structures announced that the Company has been going through financial difficulty.
One of the Lenders i.e. State Bank of India had filed application for initiation of corporate insolvency resolution process (CIRP) of the Company as per the provisions of the Insolvency and Bankruptcy Code (IBC) before the Hon’ble National Company Law Tribunal, Mumbai bench (NCLT) which was admitted by the NCLT vide its order dated 04 July 017 (CIRP Order). Pursuant to the CIRP Order, the management of the affairs of the Company has been vested in Vandana Garg, the interim resolution professional of the Company (IRP) appointed by the NCLT with effect from 12 July 2017 (i…
They’re holidaying in Ibiza as a family following a difficult year, which has seen the former tennis ace declared bankrupt and the couple face rumours of a marital rift.
But Lilly Becker was putting on a show of solidarity with her husband Boris Becker, 48, soaking up the sunshine on their Spanish getaway with th…
Students and their parents have seen tuition and fees at public colleges and universities increase more than 60 percent during the past decade, according to statistics provided by the U.S. Department of Labor.
The increased cost of a college diploma has contributed to the tripling of outstanding student loan debt that has accrued during that same period. The Federal Reserve Bank of New York reported that federal student loan borrowers, on average, owed more than $30,000 in 2016, up from an average of less than $19,000 in 2007.
The Federal Reserve Banks report also revealed that student loan debt accounts f…
