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Murray & Roberts has announced that, after over a century of operation, one of its creditors has instituted liquidation proceedings, marking the end of the road for the iconic South African construction company.
Founded in 1902, Murray & Roberts is one of South Africa’s oldest companies and has played a pivotal role in building the country’s mining infrastructure over the past century.
Between 2000 and 2010, Murray & Roberts experienced significant growth, with its project order book increasing exponentially to R42 billion and revenues quadrupling to R32 billion.
This period was characterised by the lead-up to the 2010 FIFA World Cup and the infrastructure investment programme launched by the government to…
Poland is undertaking its largest-ever arms procurement, with costs projected at around 66 billion dollars — and likely to rise even higher.
The deal spans a massive array of weaponry: 1,000 K2 Black Panther tanks alongside hundreds of M1 Abrams, 500 HIMARS launchers and several hundred K239 Chunmoo rocket artillery systems, around 100 Apache attack helicopters, dozens of F-35 fighters, more Patriot air defense systems… The list goes on, but the silver lining is, every item comes with a price tag — and the combined bill is staggering.
The company plans to use the new funds to close another acquisition by early next year, reports Bloomberg.
Italian app designer Bending Spoons has raised more than €500m in debt to continue expanding its business through software acquisitions.
In a post on LinkedIn, Bending Spoons said that the latest financing was led by JP Morgan, BNP Paribas and Crédit Agricole with participation from Banco BPM, Bank of America, Barclays, Goldman Sachs, HSBC, Intesa Sanpaolo, Mizuho, Société Générale and Wells Fargo.
Company CEO Luca Ferrari said the plan is to use the new funds to close another acquisition by early next year, according to Bloomberg.
Reports suggest that this debt raise includes a €350m…
Tamar and Matthew Veatch counted on a yearly six-figure sweepstakes check from Publishers Clearing House (PCH) to boost their Veterans Affairs disability income for four years. This February, the expected payout, just under $200,000 after taxes, did not show up.
PCH Sale to ARB Blocks Former Winners from Payouts
The couple, both disabled Army veterans with three young kids, first got promises from PCH that checks would start again in July, every three months, reported The Wall Street Journal. However, April brought bad news: the well-known sweepstakes company went bankrupt, naming ten prize winners as some of its biggest unpaid creditors. Court papers reveal eight of them were owed over $2 million…
