* Graphic: Italy-Germany bond yield spread narrows to 159 bps
* Expectations for Italy to grow 0.4 pct over previous quarter
* Euro zone yields rise as U.S. Fed minutes loom
* Euro zone periphery govt bond yields tmsnrt.rs/2ii2Bqr (Adds Italian growth data, graphic)
By Abhinav Ramnarayan
LONDON, Aug 16 (Reuters) – Italy’s bond yield spread over Germany narrowed on Wednesday as the southern European nation posted healthy growth numbers that should help keep its high debt levels in check.
Italy’s economy maintained firm growth in the second quarter, in line with expectations, thanks to healthy domestic demand which offset a negative contribution from trade, data showed on Wednesday.
“It will really help bring down the debt-to-GDP ratio,…
Read the full article at: https://www.reuters.com/article/eurozone-bonds-idUSL8N1L217M
Can Flat Buyers initiate insolvency proceedings against Builders under the Insolvency & Bankruptcy Code? This question assumes greater significance now because many real estate giants are facing insolvency proceedings in various Company Law Tribunals under the new I & B Code, 2016 across the country. Latest is the case of J.P. Infratech which is one of the largest real estate Developer in North India. Flat buyers are in absolute legal chaos.
The locus standi of the flat buyers for initiating Insolvency Resolution Process against the defaulting Real Estate Developer Companies is a grey area. Under Chapter II of the I & B Code, 2016, either the Financial Creditor, Operational Creditor or the Corporate Debtor can initiate Insolvency Resolu…
Read the full article at: http://www.livelaw.in/can-flat-buyers-initiate-insolvency-proceedings-builders-insolvency-bankruptcy-code/
A SHAMBOLIC care company has gone into liquidation with debts of more than £700,000 after failures that left vulnerable adults at risk of abuse.
A large-scale multi-agency enquiry is now underway and police are investigating allegations into Alo Care Ltd which runs Alo Community Services from Highcliffe, Bellus Lodge, Somerford Avenue in Christchurch and Ado Lodge in Lymington.
Forty four staff have been made redundant while 13 employees were transferred to the company iDirect which has taken over the community care clients.
The statement of administrators proposals says the company had altered incidents involving residents that should have been submitted to authorities.
A series of damning reports from th…
Read the full article at: http://www.bournemouthecho.co.uk/news/15475713._Shambolic__care_firm_which_left_vulnerable_adults_at_risk_of_abuse_goes_into_liquidation/?ref=rss
Representational pic – Jaypee Infratech insolvency plea
Shares of Jaypee Infratech, a part of the debt-ridden Jaypee group, today hit lower circuit with reports suggesting that the government was exploring if it was legally tenable under insolvency laws to sell its assets to raise money to complete pending housing projects of the company.
Hundreds of home buyers were left in a lurch after the Allahabad bench of the National Company Law Tribunal (NCLT) on August 9 admitted IDBI Banks plea to begin insolvency proceedings against Jaypee Infratech for defaulting on Rs 526 crore loan.
According to a Finance Ministry official, the ministry will have to first discuss with the Corporate Affairs Ministry if the bankruptcy code provides an…
Read the full article at: http://www.indiatvnews.com/business/india-jaypee-infratech-insolvency-plea-as-govt-weighs-assets-sale-to-raise-money-what-next-for-homebuyers-396669
One Nation’s newest senator has used his first speech in federal parliament to highlight his migrant roots, bucking the trend of anti-immigration speeches from his party colleagues.
Perth electrician-turned-politician Peter Georgiou credited his Greek immigrant parents with teaching him the value of hard work, pledging to always be proud of his Greek heritage as he addressed the Senate on Wednesday night.
His One Nation colleagues Pauline Hanson and Brian Burston caused controversy when they used their first speeches to parliament in 2016 to call for a ban on Muslim immigration and blame refugees for violent crimes.
Unlike his One Nation colleagues whose speeches were boycotted and heckled by Greens senators, Senator Georgiou was welcomed …
Read the full article at: http://www.news.com.au/national/breaking-news/one-nation-senator-proud-of-migrant-roots/news-story/3f9e5cadc0cfb376f5407ee1e088c297
No entrepreneur relishes restructuring their business. It can be complex and time consuming, but that doesnt stop it from being worthwhile.
Restructuring can be prompted by a number of different things some are the consequence of success, the result of disagreements, or simply commercial imperatives. They might arise, for example, because of a founder leaving, shareholder disputes, a disposal of part of the business, or even inheritance tax planning.
Restructuring may well be unavoidable. Over the years, a company or group might have grown into a hotchpotch of different businesses, product…
Read the full article at: http://www.cityam.com/270354/restructuring-doesnt-have-messy-ordeal
China has a debt problem, and if it continues to place short-term growth goals ahead of managing longer-term financial stability risks, it runs the risk of suffering a sharp growth slowdown, or worse.
Thats the latest assessment from the International Monetary Fund (IMF) who describes Chinas current credit growth trajectory as dangerous given the precedent set by other nations where boom-bust credit cycles have occurred in the past.
International experience suggests that Chinas credit growth is on a dangerous trajectory, with increasing risks of a disruptive adjustment or a marked growth slowdown, the IMF says.
This chart from the group explains why its concerned.
A whole lot of debt has been required in …
Read the full article at: https://www.businessinsider.com.au/2-charts-that-show-the-risk-of-a-financial-crisis-in-china-is-growing-2017-8
You’ve seen them. Those sensational online profiles of people who accomplished massive goals that most of us can only dream of in a ridiculous amount of time. How This 30-Year Old Quit His Job and Became a Millionaire or How This Millennial Bought a Home in NYC on a $30k salary or How This Couple Paid off $200,000 Worth of Debt in a Year.
(more…)
Prestige Group , one of the largest listed real estate companies in the country, is gearing up for greater things given that the uncertainty caused by the Real Estate Regulatory Act (RERA) and the Goods and Services Tax (GST) is behind us. The company recently concluded a corporate restructuring to take the business to the next level. In an interview with ET, Irfan Razack , CMD of the group, talks about the reasons behind the restructuring, fund-raising plans and the impending revival of the Indian real estate market. Excerpts…
What is the status of corporate restructuring at Prestige Group?
The restructuring got completed this March 31.Now we have got separate verticals office, retail, hospitality and residential. Prestige E…
Read the full article at: http://economictimes.indiatimes.com/industry/indl-goods/svs/construction/uncertainty-caused-by-rera-and-gst-is-history-irfan-razack-cmd-prestige-group/articleshow/60081363.cms
A SHAMBOLIC care company has gone into liquidation with debts of more than £700,000 after failures that left vulnerable adults at risk of abuse.
A large-scale multi-agency enquiry is now underway and police are investigating allegations into Alo Care Ltd which runs Alo Community Services from Highcliffe, Bellus Lodge, Somerford Avenue in Christchurch and Ado Lodge in Lymington.
Forty four staff have been made redundant while 13 employees were transferred to the company iDirect which has taken over the community care clients.
The statement of administrators proposals says the company had altered incidents involving residents that should have been submitted to authorities.
A series of damning reports from th…
Read the full article at: http://www.bournemouthecho.co.uk/news/15475713.__39_Shambolic__39__care_firm_which_left_vulnerable_adults_at_risk_of_abuse_goes_into_liquidation/?ref=rss
China’s consumers spend too little and its corporate sector spends too much. That’s the blunt message from the latest country report from the International Monetary Fund, which highlights a series of worrying, if not new, imbalances across the Chinese economy.
In six charts the IMF lays out its case for why Beijing needs to act now on its bloated corporate sector and begin the difficult task of reform.
It forecasts the country’s debt-to-GDP ratio will hit nearly 300 per cent by 2022, double that of a decade ago and worse than forecast just 12 months previously.
The IMF says growth has been stabilised and should average 6.4 per cent over the next five years, up from an earlier forecast of 6 per cent.
