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.... As time went on, the opacity thickened: repayments from the council to the developer weren’t itemised, so it was impossible to tell whether they were servicing the debt or the maintenance contract. This remains the broad, systematic problem with PFI: that a hospital foundation trust, for instance, knows it’s going bankrupt but can’t see why. ... [Read full article on Guardian ]
Friday 21st of July 2017 05:00:09 AM
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.... That said, most of America’s malls will close, he predicts. “When a specialty store goes bankrupt or closes in the Mall of America, the customer doesn’t notice it because the mall is able to lease the space quickly. ... [Read full article on Guardian ]
Saturday 22nd of July 2017 11:00:36 AM
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.... It also claimed that French and German renters routinely hire cars in this way – apparently happy to risk a €20,000 bill if the worst happens and they crash the car or it is stolen. I find it very hard to believe that someone on holiday would want to accept such a risk: a sum that would bankrupt many of us. ... [Read full article on Guardian ]
Sunday 23rd of July 2017 06:00:00 AM
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Latest Finance News related to Bankrupt

Sixt took me for a ride over car hire cover image
Source : Guardian [Read Article] Sunday 23rd of July 2017 06:00:00 AM
.... It also claimed that French and German renters routinely hire cars in this way – apparently happy to risk a €20,000 bill if the worst happens and they crash the car or it is stolen. I find it very hard to believe that someone on holiday would want to accept such a risk: a sum that would bankrupt many of us. ...
Big, bold … and broken: is the US shopping mall in a fatal decline? image
Source : Guardian [Read Article] Saturday 22nd of July 2017 11:00:36 AM
.... That said, most of America’s malls will close, he predicts. “When a specialty store goes bankrupt or closes in the Mall of America, the customer doesn’t notice it because the mall is able to lease the space quickly. ...
The real cost of regeneration image
Source : Guardian [Read Article] Friday 21st of July 2017 05:00:09 AM
.... As time went on, the opacity thickened: repayments from the council to the developer weren’t itemised, so it was impossible to tell whether they were servicing the debt or the maintenance contract. This remains the broad, systematic problem with PFI: that a hospital foundation trust, for instance, knows it’s going bankrupt but can’t see why. ...
Now we find out the real cost of austerity – our lives cut short | Owen Jones image
....”. Is there any clearer evidence of how utterly bankrupt our social order is? Human and social progress is grinding to a halt in Britain. ...
Karren Brady to chair firm that owns Philip Green's Arcadia group image
Source : Guardian [Read Article] Monday 17th of July 2017 02:40:37 PM
....In a damning report into the collapse of BHS, MPs criticised Grabiner as the “apogee of weak corporate governance” who was “content to provide a veneer of establishment credibility to the group while happily disengaging from the key decisions he had a responsibility to scrutinise”. Grabiner, a barrister, insisted to MPs that he had been a “responsible” chairman, despite not being invited to a key board meeting that discussed the sale of BHS to a group led by Dominic Chappell, a former bankrupt, for £1. ...
Dublin is streets ahead of EU rivals as City firms plan for Brexit relocation image
....The apartment block is emblematic of Ireland’s ability to move on from its past. It is being built on the site of two hotels in the city’s Ballsbridge area bought in the boom years by a now bankrupt builder for €400m and sold on by Ulster Bank to Chartered Land and the Abu Dhabi sovereign wealth fund for €170m. ...
Sports Direct buys 26% stake in Game Digital image
Source : Guardian [Read Article] Thursday 13th of July 2017 06:59:54 AM
....3%), giving it a market value of £47m. Three years ago, the retailer was floated at 200p a share by its owner, the US hedge fund Elliott Advisors, with a market value of £340m, after being rescued from bankruptcy two years earlier. ...
Central banks are ending policies like QE – but they'll be back | Nouriel Roubini image
.... For starters, zero inflation and persistent periods of deflation – when the target is 0% and inflation is below target – may lead to debt deflation. If the real (inflation-adjusted) value of nominal debts increases, more debtors could fall into bankruptcy. ...
Detroit is 'booming' again. You have to be rich and powerful to notice, though | Bankole Thompson image
....”. Smith’s prognosis of the ever-widening gap between the rich and poor, and the fact that national wealth doesn’t necessarily bring an end to mass economic desolation, aptly describe the current state of Detroit, a major American urban city that is now heralded as a “shining city upon a hill” after its 2014 emergence from the first municipal bankruptcy in US history. ...
The ‘sub-prime’ market is back in business image
Source : Guardian [Read Article] Saturday 8th of July 2017 06:00:00 AM
. The “sub-prime” mortgage sector shut down following the financial crisis in 2007-08, but brokers say more and more lenders are returning to the market – with some willing to lend to people who were bankrupt as little as a year or so ago. ...
Russia's future looks bleak without economic and political reform | Kenneth Rogoff image
....The shock to the real economy has been severe, with Russia suffering a decline in output in 2015 and 2016 comparable to what the United States experienced during its 2008-2009 financial crisis, with the contraction in GDP totalling about 4%. Many firms went bankrupt, and in 2016 the International Monetary Fund estimated that almost 10% of all bank loans were non-performing (a figure that surely understates the severity of the situation). ...
Green's 'main purpose' in BHS sale was to avoid pension liability, says watchdog image
....The department store collapsed in April 2016 leading to the loss of 11,000 jobs and leaving a pension deficit assessed at up to £571m. Just under a year before that Green had sold the business for £1 to a former bankrupt with no experience of retail. ...
Central banks raise alarm over new crash after steep rise in lending image
Source : Guardian [Read Article] Sunday 25th of June 2017 10:30:27 AM
....25%, but have reservations about the knock-on effect to countries that have borrowed excessively in dollars. The rising cost of borrowing in dollars is widely expected to increase bankruptcy rates in countries such as Turkey and Brazil, where private companies have expanded quickly using dollar-denominated debt. ...
Creditors agree terms to disburse Greece's €8.5bn bailout funds image
Source : Guardian [Read Article] Friday 16th of June 2017 12:05:16 AM
....Without that, Athens is unlikely to achieve market access any time soon – a negative sign for investors who would view the country’s return to capital markets as evidence that after eight years of economic crisis and gruelling austerity the worst is behind it. Outside investment is seen as vital to Greece recouping some of the 27% loss in GDP it has suffered since its ordeal through bankruptcy began. ...
Naomi Klein: ‘Trump is an idiot, but don’t underestimate how good he is at that’ image
....Beyond that he has, presumably wittingly, “surrounded himself with some of the world’s most expert crisis profiteers”. Men who have made billions out of meltdown and financial crisis, such as Wilbur Ross, the “king of bankruptcy” who is now secretary of commerce, or the various crash-plutocrats recruited from Goldman Sachs and elsewhere. ...
Sir Philip Green's retail empire reels from BHS closure and Topshop fall image
.... Evans’ boss, Fiona Ross, Burton’s managing director, Wesley Taylor, and Miss Selfridge’s creative director, Yasmin Yusuf, have also left in recent months. Taveta’s pre-tax profits were hit by £129m in one-off charges including £26m in legal fees, redundancies and other costs linked to BHS, which collapsed last April, about a year after Green sold it for £1 to investors led by former bankrupt and racing driver Dominic Chappell. ...
Philip Green fashion empire hit by 16% fall in profits image
Source : Guardian [Read Article] Sunday 4th of June 2017 03:29:15 PM
....Sir Philip Green’s fashion empire suffered a 16% fall in profits last year as the billionaire’s Topshop-to-Miss Selfridge group struggled with difficult trading on the high street. The drop in profits caps a torrid 12 months for the Monaco-based businessman, who was hauled before MPs following the collapse of BHS, which he sold to a group led by a former bankrupt for £1. ...
Compensation at last for Britons burned by Spain’s property crash image
....After years of legal wrangling and setbacks, British homebuyers who were caught cold by the Spanish property market crash are finally beginning to recoup the millions they paid for holiday homes that were never built. A ruling in Spain’s supreme court in December 2015 opened the way for an estimated 130,000 Britons to claim directly from the banks rather than property developers, who promptly declared themselves bankrupt. ...
'Reduce business rates' image
Source : BBC [Read Article] Wednesday 31st of May 2017 12:05:30 AM
Three Mile Island to close 40 years after nuclear accident image
Source : BBC [Read Article] Tuesday 30th of May 2017 09:52:04 PM
....While citizens were frightened by TMI, so too were investors. The accident happened after just three months of commercial operation causing the plant owner to go bankrupt. ...
Aston Martin roars back into profit for the first quarter image
Source : BBC [Read Article] Wednesday 24th of May 2017 03:56:30 PM
.... . The company has gone bankrupt seven times in its history. ...
Former Anglo Irish chair Seán Fitzpatrick walks free as trial collapses image
. The chair of the bank that almost bankrupted Ireland has walked free from a Dublin court after being acquitted of misleading auditors about multimillion-euro loans. ...
Sean FitzPatrick cleared as Anglo Irish trial collapses image
Source : BBC [Read Article] Tuesday 23rd of May 2017 01:04:32 PM
....4bn). He was declared bankrupt in 2010. ...
Dementia news: The medical and financial benefits of power of attorney image
Source : Daily Express [Read Article] Wednesday 17th of May 2017 12:01:00 AM
.... . “Attorneys must be over 18 and must not be bankrupt. ...
Troubled Toshiba misses annual results deadline image
Source : BBC [Read Article] Monday 15th of May 2017 04:54:42 AM
....Problems came to a head again in January this year, when it became clear its US nuclear unit, Westinghouse, was in financial trouble. Westinghouse was put into Chapter 11 bankruptcy in March, which protects it from creditors while it undergoes restructuring. ...
Hanging up the microphone image
Source : BBC [Read Article] Sunday 7th of May 2017 11:23:22 PM
....Within five years it had more than 400 restaurants across the US, Canada, the Middle East and Asia, and was so well-known in the US that it was even the central focus of one episode of hit comedy show Seinfeld. However, the chain had over-expanded, and in 1998 had to file for bankruptcy protection. ...
UK tourists hit by booking scams up by nearly a fifth image
Source : BBC [Read Article] Sunday 7th of May 2017 11:47:58 AM
....More than a quarter of those affected said the scams had a significant impact on their health or finances. About 260 people said they needed medical treatment as a result, or were at risk of bankruptcy, according to Action Fraud, the UK's national fraud and cyber crime reporting centre. ...
Breaking brands image
Source : BBC [Read Article] Saturday 6th of May 2017 11:46:31 PM
....At least Theranos is still in existence, not so the US media and celebrity news website Gawker. It filed for bankruptcy protection last year to avoid paying damages having lost a $140m lawsuit brought by former wrestler Hulk Hogan, after it published a video of him having sex with the wife of a friend. ...
Will your travel insurance cover you if an airline goes out of business? image
....Travellers booking expensive flights for later in the year have been warned that too many insurers are still failing to offer scheduled airline failure (SAF) cover. Earlier this week the Italian airline Alitalia started bankruptcy proceedings, and while it continues to operate, the news it has entered administration has prompted a renewed focus on how many travellers are covered if the worst happens. ...
Retail Acquisitions, which bought BHS for £1, heads for liquidation image
Source : Guardian [Read Article] Thursday 4th of May 2017 12:17:13 PM
....Retail Acquisitions, the former owner of the collapsed BHS, is on the point of liquidation, potentially helping investigations into the demise of the department store chain. The group, which bought BHS for £1 in 2015 and was fronted by former bankrupt Dominic Chappell, has been accused of extracting an estimated £17m from BHS despite owning it for just 13 months before it went into administration in 2016. ...
'My parents want to help me but can't': readers on affording their first home image
....Charlotte, 19, Northampton: I can see how much it hurts my parents knowing they cannot help. I can’t ask my parents for help as neither have any savings after they experienced health problems and bankruptcy. ...
'Toughen the laws on bankruptcy' image
Source : BBC [Read Article] Tuesday 2nd of May 2017 03:59:51 PM
...
Related to :
Italy's ​Alitalia to enter administration after staff reject rescue deal image
.... Flight schedules will continue unchanged in the meantime. It has ruled out renationalising Alitalia, which was privatised and relaunched in 2008 after filing for bankruptcy protection earlier that year. ...
Alarm sounded over delays to develop UK mini nuclear reactors image
Source : Guardian [Read Article] Tuesday 2nd of May 2017 10:58:50 AM
....The company is competing with Chinese state firm CNNC, US firm NuScale and the US-Japanese partnership GE-Hitachi. Toshiba’s US nuclear arm Westinghouse was also among the bidders but is now unlikely to proceed after filing for bankruptcy in March. ...
Bankruptcy risk as ‘desperate’ councils play the property market image
Source : Guardian [Read Article] Saturday 29th of April 2017 10:10:17 PM
.... One option – popular in the last couple of years – has been to borrow from the Treasury-run Public Works Loan Board (PWLB) at very low rates of interest and then use the money to invest in commercial property ventures that offer returns of as much as 8%. But there are fears that the strategy is creating a bubble that could bankrupt some local authorities. ...
Personal insolvencies soar to highest level in three years image
Source : Guardian [Read Article] Friday 28th of April 2017 02:34:07 PM
....”. At 59%, individual voluntary arrangements accounted for the majority of personal insolvencies in the first quarter, while debt relief orders made up a further 25% and bankruptcies accounted for 16%. ...
General Motors loses Supreme Court appeal over car faults image
Source : BBC [Read Article] Monday 24th of April 2017 09:06:53 PM
....General Motors has lost a legal bid aimed at protecting it from lawsuits over faulty ignition switches. The US Supreme Court, the top US court, will not hear the carmaker's appeal, which argued that its 2009 bankruptcy protected it from the claims. ...
Sir Philip Green could still lose knighthood, says MP image
Source : Guardian [Read Article] Sunday 23rd of April 2017 03:54:50 PM
....The billionaire boss of Arcadia, notorious for his superyachts and lavish parties, made a voluntary personal cash payment of £343m towards improved benefits to the pension scheme members, and made available an additional £20m towards implementation costs. It came after the Topshop owner was grilled by MPs over the sale of the chain, which he owned for 15 years before offloading it for £1 to the former bankrupt Dominic Chappell in 2015. ...
Low rates, tight margins: the mortgage market looks worryingly familiar image
....Trump may have fronted the announcement of an investigation into whether foreign imports of steel compromise US national security, but for Ross the ruinous impact of cheap imports is a wound that he has struggled to close for almost two decades. It was in the early 2000s that the former bankruptcy specialist made his most notable coup, bringing together LTV Steel, Acme Steel and Bethlehem Steel under the name International Steel Group. ...
BHS crash sets trend for a chain of closures on UK high streets image
Source : Guardian [Read Article] Saturday 22nd of April 2017 03:00:17 PM
Dortmund attack: man arrested on suspicion of share-dealing plot image
Source : Guardian [Read Article] Friday 21st of April 2017 04:36:02 PM
....The German interior minister, Thomas de Maizière, on Friday described the attack as “driven by a particularly abominable form of greed”. Borussia Dortmund, whose club name references the New Latin word for Prussia, became the first German football to float on the stock market in 2001 – an experiment that brought the club to the brink of bankruptcy. ...
Sports Direct's £78m move into US retail stuns analysts image
Source : Guardian [Read Article] Friday 21st of April 2017 03:41:12 PM
....Sports Direct has drawn fire from analysts after it entered the US market by buying two loss-making chains for $101m (£78m). The retailer said on Friday it had received approval from Delaware bankruptcy court to buy 50 stores trading as Bob’s Stores and Eastern Mountain Sports through the bankruptcy process of Eastern Outfitters, the chains’ parent company. ...
Sports Direct breaks into US market image
Source : BBC [Read Article] Friday 21st of April 2017 08:32:02 AM
.... . Nicholas Hyett, equity analyst, Hargreaves Lansdown said Sports Direct had picked up a "bargain out of bankruptcy proceedings". ...
Government cap on energy prices would spark backlash | Nils Pratley image
Source : Guardian [Read Article] Wednesday 19th of April 2017 06:12:57 PM
.... Under Wright’s leadership, the committee has done what it’s supposed to do: selected a few juicy bones and chewed for all it’s worth. The grubby tale of Green’s sale of BHS to a thrice-bankrupt retailing novice was illuminated when the business committee, alongside Frank Field’s work and pensions committee, summoned the main players and called for documentary evidence. ...
Did you lose your job when BHS went into administration? image
Source : Guardian [Read Article] Tuesday 18th of April 2017 04:44:09 PM
.... This is a better outcome than if the BHS pension scheme had entered the Pension Protection Fund, a lifeboat for failed pension schemes, where workers would have received an estimated 75% to 79%. The 88-year-old retailer failed when it ran out of money a year after it was sold by Sir Philip Green to the serial bankrupt Dominic Chappell for £1. ...
Two-thirds of BHS stores lie empty as anniversary of collapse nears image
Source : Guardian [Read Article] Sunday 16th of April 2017 03:30:44 PM
....BHS went into administration on 25 April 2016 with the loss of 11,000 jobs. The 88-year-old retailer failed when it ran out of money a year after it was sold by Sir Philip Green to the serial bankrupt Dominic Chappell for £1. ...
Walking dead image
Source : BBC [Read Article] Sunday 16th of April 2017 08:34:11 AM
....Want more proof of zombies? Not a single publicly-listed Japanese firm went bust last year. In fact, overall bankruptcies have fallen for eight years in a row. ...
How the beery vision of brewing a small fortune can fall flat image
Source : Guardian [Read Article] Saturday 15th of April 2017 08:59:21 AM
....Rebel Brewing was bought out of administration and is up and running again, but Lowe is not involved. Another brewer, who asked not to be named, fears he will end up in bankruptcy court after his business failed, causing friction with family and friends. ...
Toshiba's US nuclear problems could provide cautionary tale for UK image
Source : Guardian [Read Article] Friday 14th of April 2017 07:00:27 AM
....Construction work on the units has run hugely over budget and over schedule, casting a shadow over two of the biggest new nuclear power station projects in the US for years. Events came to a head last month when Westinghouse was forced to file for bankruptcy protection to limit Toshiba’s losses. ...
BHS workers share £1m payout over failed redundancy process image
Source : Guardian [Read Article] Friday 14th of April 2017 06:59:27 AM
....When BHS collapsed into administration a year ago, with the loss of 11,000 job losses, it was the biggest high-street failure since that of Woolworths, which went into administration in 2008. The retailer had been owned by Sir Philip Green for 15 years until he sold it to Dominic Chappell, a former bankrupt, for just £1 in March 2015. ...
Toshiba warns over its survival as it forecasts £7bn losses image
Source : Guardian [Read Article] Tuesday 11th of April 2017 03:36:52 PM
....Toshiba, one of the biggest names in consumer electronics, has warned it is facing annual losses of more than £7bn and the future of the company is in doubt as a result of financial turmoil at its nuclear power plant construction business. The Japanese company finally released third quarter results, after twice delaying publication while auditors attempted to quantify the scale of the problems at Toshiba’s US nuclear engineering subsidiary Westinghouse, which filed for bankruptcy last month. ...
Corbyn attacks M&S and other big firms over late supplier payments image
Source : Guardian [Read Article] Tuesday 11th of April 2017 11:13:04 AM
....Amanda Milling, a Conservative member of the Commons business, energy and industrial strategy select committee, said Labour’s pledge to borrow to invest £500bn would “crash the economy, just like they did last time”. In remarks on Tuesday that anticipated some of the criticism, Corbyn said: “The prime minister frequently accuses me of wanting to bankrupt Britain by borrowing money to fund investment. ...
Toshiba files unaudited results and says future is in doubt image
Source : BBC [Read Article] Tuesday 11th of April 2017 08:33:57 AM
....Its problems came to a head again in January this year, when it became clear its US nuclear unit, Westinghouse, was in financial trouble. Westinghouse was put into Chapter 11 bankruptcy in March, which protects it from creditors while it undergoes restructuring. ...
The Crusader: Trader falls victim to debt collector trying to get back money owed image
....”. A legal expert Crusader asked to look at Falcon’s proposed recovery schedule, with references to a “statutory demand for bankruptcy”, dismissed it as “not making sense”. ...
Toshiba may sell chip business to Foxconn for $27bn image
Source : BBC [Read Article] Monday 10th of April 2017 03:59:36 PM
....Such a large offer from Foxconn would put pressure on Japan's government as Toshiba is seen as a key national asset. The Japanese firm needs to raise funds after its US nuclear unit, Westinghouse, filed for bankruptcy protection last month. ...
The Guardian view on productivity: Britain must solve the puzzle | Editorial image
....5m jobs. That’s a high price to pay, especially since not all the bankruptcies would be zombie companies. ...
Greek gloom as economy stalls amid latest bout of EU wrangling image
Source : Guardian [Read Article] Saturday 8th of April 2017 03:00:05 PM
. Eight years into Greece’s ordeal to escape bankruptcy, thousands of Communist party sympathisers packed into Syntagma Square in Athens on Friday to protest at the latest concessions made by Alexis Tsipras’s leftist government to keep the country afloat. ...
UK's Moorside nuclear project in turmoil as Toshiba's French partner backs out image
....Toshiba has been forced to buy out the French utility Engie from a project to build three nuclear reactors in Moorside, northwest England, further straining the Japanese company’s finances and adding to uncertainty over the project. Engie said on Tuesday it was exercising its right to sell its 40% stake in the NuGen venture to Toshiba following the bankruptcy of the Japanese firm’s Westinghouse nuclear power plant business. ...
Toshiba forced to buy 40% of UK's NuGen image
Source : BBC [Read Article] Tuesday 4th of April 2017 03:16:02 PM
....The French utility company Engie said it was exercising its "contractual rights" to sell its shares because NuGen was "facing some significant challenges". Last week, Toshiba's Westinghouse in the US, which was to build the plant's reactors, sought bankruptcy protection. ...
Bombardier defers executive salary rises amid outcry image
Source : BBC [Read Article] Monday 3rd of April 2017 05:32:16 PM
....Quebec's government agreed to a CA$1. 34bn ($1bn; £800m) bailout in 2016, a year after it teetered on the edge of bankruptcy. ...
Sir Philip 'favoured' Arcadia pension schemes over BHS image
Source : BBC [Read Article] Sunday 2nd of April 2017 07:20:55 PM
....Sir Philip owned BHS for 15 years before selling it in March 2015. It was bought for £1 by Dominic Chappell, a former bankrupt with little experience in retailing, and went into administration a year later. ...
How Karen Millen lost the battle for her name – and her fortune image
Source : Guardian [Read Article] Saturday 1st of April 2017 03:00:28 PM
.... With 400 outlets spread across 65 countries, there is even a store that bears the Kent-born designer’s name in Mongolia. But last week Karen Millen, the woman, became famous all over again for the wrong reasons, after suffering the humiliation of being declared bankrupt over an unpaid tax bill. ...
Arcadia plan sees pension woe pile up for Philip Green image
Source : Guardian [Read Article] Saturday 1st of April 2017 03:00:28 PM
....5m a year from 2019. The deal was struck soon after Green agreed to pay £363m to resolve the pension deficit at BHS, which fell into administration about a year after it was sold to a group led by a former bankrupt for £1. ...
Toshiba shareholders angry as chip unit sale approved image
Source : BBC [Read Article] Thursday 30th of March 2017 07:41:02 AM
....Toshiba's management has come under fierce criticism from shareholders, despite investors approving plans to sell its valuable memory chip unit. The company needs money to plug a gaping hole at its US nuclear unit Westinghouse, which filed for bankruptcy protection on Wednesday. ...
Toshiba's Westinghouse files for US bankruptcy image
Source : BBC [Read Article] Wednesday 29th of March 2017 07:15:32 AM
UK nuclear plans could be hit by Westinghouse financial crisis image
Source : Guardian [Read Article] Tuesday 28th of March 2017 06:47:55 PM
....A financial crisis at a major nuclear energy business is threatening to deal a blow to the UK’s atomic energy programme. Toshiba’s US nuclear subsidiary Westinghouse Electric is believed to be on the brink of filing in the US for bankruptcy protection from creditors. ...
​Sweet Brexit: what sugar tells us about Britain’s future outside the EU image
....“When we talk about free trade, we have to remember that it is a utopian value,” says Sly, recalling past experiments with taking on the world’s lowest price that ended in the return of a degree of agricultural protection. Imperial Preference was a form of trade protection provided to farmers in the British Empire in the 1930s after unfettered free trade left lots of them bankrupt. ...
Sir Philip Green 'could get £15m refund from £363m BHS payout' image
Source : Guardian [Read Article] Tuesday 21st of March 2017 06:30:06 AM
....The collapse of BHS last year led to the loss of 11,000 jobs and left a £571m pension deficit. Green owned BHS for 15 years until he sold it to Dominic Chappell, a former bankrupt with no retail experience, for just £1 in March 2015. ...
Netflix and Tesla overrated? Yes, in this mad, mad world image
Source : Guardian [Read Article] Saturday 18th of March 2017 07:01:32 AM
.... It’s how Sun Edison, once a darling of the stock market, saw its share price soar from $1. 50 in 2012 to $31 by mid 2015 – then go bankrupt. ...
If big business is to thrive, it needs a strong welfare state | Phil McDuff image
....State spending, although decried by market fundamentalists as a drag on the economy, is actually a boon to employers. The NHS saves British business thousands on health insurance, compared with their counterparts in the supposedly more flexible US, as well as being cheaper and having the benefit of not condemning millions of people to bankruptcy and death. ...
Replacing EU hospitality workers after Brexit 'will take 10 years' image
Source : Guardian [Read Article] Saturday 11th of March 2017 08:00:29 AM
.... to children between the ages of 11 and 14,” Ibrahim said. In the meantime, she says Britain has to have continued access to a low-skilled EU workforce otherwise businesses face bankruptcy. ...
Volkswagen pleads guilty to all criminal charges in emissions cheating scandal image
....Summing up the scandal, assistant US attorney John Neal said it was a “calculated offense”, not a “momentary lapse of judgment”. Although the cost is staggering and would bankrupt many companies, VW has the money, with $33bn in cash on hand. ...
Theresa May must give Vauxhall assurances over Brexit, says Labour image
Source : Guardian [Read Article] Monday 6th of March 2017 08:03:56 PM
....He stressed that he had not closed a single factory since he took over at PSA in 2014. The carmaker, which came close to bankruptcy and was bailed out by the French government and Chinese investors, shut a French factory just before the former Nissan executive took the helm. ...
German chain store tycoon Schlecker in fraud trial with family image
....A former giant of German retail - Anton Schlecker - has gone on trial with his wife and two children over the collapse of his pharmacy chain, which once employed some 50,000 people. Mr Schlecker is accused of offences relating to the 2012 bankruptcy, and his family allegedly helped him. ...
Peugeot-Citroën chief vows to save jobs in Vauxhall/Opel takeover image
Source : Guardian [Read Article] Monday 6th of March 2017 12:35:46 PM
....Tavares stressed that he had not closed a single factory since he took over at PSA in 2014. The carmaker, which came close to bankruptcy and was bailed out by the French government and Chinese investors, shut a French factory just before the former Nissan executive took the helm. ...
Topshop owner to double contributions to plug pension deficit image
Source : Guardian [Read Article] Sunday 5th of March 2017 03:28:55 PM
.... BHS collapsed last April, leading to the loss of 11,000 jobs and leaving a pension deficit assessed at the most pessimistic measure as £571m. Green owned BHS for 15 years until he sold it to Dominic Chappell, a former bankrupt, for just £1 in March 2015. ...

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