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The storied canned fruit and vegetable maker has “faced challenges intensified by a dynamic macroeconomic environment,” CEO Greg Longstreet said in a statement.
A sale of the California-based company is “the most effective way to accelerate our turnaround and create a stronger and enduring Del Monte Foods,” Longstreet…
The turmoil caused by Trump’s “Liberation Day” tariffs and heightened uncertainty about future government policy are expected to weaken US economic growth and raise inflation. This, coupled with the recent credit downgrade of US government debt by ratings agency Moody’s, is likely to put upward pressure on US interest rates, further increasing the servicing cost of US government debt.
Moody’s cited concerns about the growth of US federal debt. This comes as the US House of Representatives passed the “One Big Beautiful Bill Act”, which seeks to extend the 2017 tax cuts indefinitely while slashing social spending. This has caused some to question the sustainability of the US government’s fiscal position.
Wealthier students are set to benefit more from future plans to cut university debt levels than those on lower incomes, research has shown.
Analysis into a federal government proposal to slash HECS debts by 20 per cent found more than half of the financial relief offered will go to the top third of earners.
Meanwhile, the study by the e61 Institute found less than 20 per cent of the measure will flow through to those in the bottom third.
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Del Monte’s losses have piled up as consumers choose healthier or cheaper alternatives.
Del Monte Foods, the 139-year-old company best known for its canned fruits and vegetables, is filing for bankruptcy protection as consumers in the United States increasingly bypass its products for healthier or cheaper options.
Del Monte announced the bankruptcy filing late Tuesday.
Del Monte, which also owns the Contadina tomato brand, College Inn and Kitchen Basics broth brands and the Joyba bubble tea brand, has secured $912.5m in debtor-in-possession financing that will allow it to operate normally as the sale progresses.
The Walnut Creek, California-based brand has assets and liabilities ranging from $1bn to $10bn, according to a filing in a New…
An Aussie production company has collapsed owing $7.5million as an artist claims cast members threatened to pull out of shows over unpaid entitlements.
David Venn Enterprises, responsible for major touring acts including Elvis: A Musical Revolution and The Wedding Singer, entered liquidation in August last year.
The firm had 77 trade creditors and unpaid superannuation worth nearly $440,000, Mitchell Ball of liquidation firm Mackay Goodwin reported.
Mr Ball said only $304,000 of the $7.5million could be repaid.
Controversial property developer Dean Franklin’s Formcrete Construction Ltd has gone into liquidation owing $7.5 million in spite of a Jack’s Point email to residents yesterday claiming the move was just “a strategic clean up.”
Creditors included in today’s first liquidators report include the IRD (owed $2.449 million in GST and PAYE) and over $250,000 to local suppliers including Todd Walker Law, Windsor Doors in Cromwell, Queenstown Scaffolding, Brazier Scaffolding,…
State Bank of India has classified Reliance Communications’ loan account as “fraud” and plans to report it to the Reserve Bank of India along with the name of former director Anil Ambani. | Image:
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Reliance Communications Limited (RCOM) has officially disclosed that the State Bank of India (SBI) has decided to classify its loan account as “fraud”. This was conveyed through a letter dated June 23, 2025, which the company received on June 30, 2025.
In the disclosure to stock exchanges, RCOM stated, “SBI has decided to report the loan account of the company as ‘fraud’ and to report the name of Anil Dhirajlal Ambani (erstwhile director of the company) to the RBI, as per the extant RBI guidelines.”
In May, Wolfspeed announced that it faced economic uncertainty, also coupled with the US-American political situation, whose changing trade policies put the industry under strain. However, the financial situation had likely started going sour far earlier, as the company had also announced that it was putting its planned semiconductor factory together with ZF on hold in Germany. The plant had initially been announced in early 2023, and was set to deliver semiconductors for customers such as Mercedes.
Now, Wolfspeed has worked out a restructuring agreement, which will see $275 million in fresh financing backed by some existing creditors and help reduce debt by $4.6 billion. It still needs to seek regulatory approval for the plan, but…
Bad news for Anil Ambani as SBI flags Reliance Communications loan as…, he may have to…
Reliance Communications which is under corporate insolvency resolution process is being managed by the Resolution Professional Anish Niranjan Nanavaty, since from June 2019.
Bad news for Anil Ambani as SBI flags Reliance Communications loan as…, he may have to…
In a huge problem for Anil Ambani, State Bank of India has decided to report the loan account in the…
New Delhi: The State Bank of India (SBI) has decided to report the loan account of Reliance Communications as “fraud” in a case that dates back to August 2016.
Reliance Communications said in an exchange filing that this disclosure is being made pursuant to the rules of the Securities and Exchange Board of India (SEBI).
“This is to inform you that Company has received letter dated June 23, 2025 (received on June 30, 2025) from SBI (marked to he Company and its erstwhile director – Shri Anil Dhirajlal Ambani), inter alia, stating that SBI has decided to report the loan account of the Company as “fraud” and to report the name of Shri Anil Dhirajlal Ambani (erstwhile director of the Company) to the RBI, as per the…
Reliance Communications on Tuesday said that the State Bank of India (SBI) has classified its loan account as “fraud” and plans to report the company and its former director, Anil Ambani, to the Reserve Bank of India (RBI).
In a stock exchange filing, the company stated that SBI has taken the decision in connection with credit facilities dating back to August 2016. Reliance Communications is currently undergoing insolvency proceedings under the Insolvency and Bankruptcy Code (IBC) and has a resolution plan awaiting final approval by the National Company Law Tribunal (NCLT).
According to a report by CNBC-TV18, SBI had sent show-cause notices to the company in December 2023, March 2024, and September 2024.
