This article was sourced from JD Supra. Article by Kevin Meek. “Risk comes from not knowing what you’re doing” – Warren Buffett Can a bankruptcy court deny fees requested by a professional simply because her client chose a poor strategy? The Bankruptcy Court for the District of Idaho recently rejected such a notion, holding that an accounting […]
This article was sourced from JD Supra. Article by D. Matthew Allen. The Middle District of Florida recently denied a plaintiff’s motion for class certification concerning claims that a collection agency illegally and intentionally sent collection correspondence to mortgagees whose debts already had been discharged in bankruptcy proceedings. The plaintiff alleged violations of state and federal […]
This article was sourced from NY Times. Article by LAUREN SILVA LAUGHLIN. Like any good private-equity investor, Carlyle has demonstrated a knack for buying when others are selling, and vice versa. It is instructive then that Carlyle, led by David Rubenstein, is embarking on its biggest quest for distressed assets at a time when tax-cut hopes are […]
This article was sourced from Reuters. Article by Sruthi Ramakrishnan. Department store operator J.C. Penney Co Inc (JCP.N) reported a bigger-than-expected drop in same-store sales for the holiday quarter citing weak demand and competition from online retailers, sending shares down to more than a year low. The company on Friday also said it would shutter 130-140 underperforming […]
This article was sourced from Business Insider. Article by Hayley Peterson. A tidal wave of store closures is about to hit the US, and the result could be catastrophic for hundreds of lower-tier shopping malls. JCPenney announced Friday that it would close up to 140 stores in the next couple months. That follows decisions by Macy’s […]
This article was sourced from Business Insider. Article by David Scutt. Australia is likely to avoid a technical recession — defined as two consecutive quarters of negative economic growth — when the ABS releases its December quarter GDP report next Wednesday, March 1. All 25 economists polled by Bloomberg expect a positive growth quarter, forecasting a […]
This article was sourced from Business Insider. Article by Ben Moshinsky. LONDON — Department store John Lewis will cut almost 400 jobs across its cafes and home fittings departments, as customers shift their spending from physical stores to online shopping. The company said that 387 jobs would go as a result of the restructuring. Around 773 staff had entered […]
This article was sourced from Bloomberg Technology. Article by Ellen Huet. Online grocery delivery startup Instacart Inc. has raised a $400 million round of venture funding, said people familiar with the deal. With the additional capital, the San Francisco-based company’s valuation has risen to $3.4 billion, said the people, who asked not to be identified because the matter […]
This article was sourced from Bloomberg Technology. Article by Julie Johnsson. United Airlines has taken a close look at an all-new jetliner that Boeing Co.engineers are developing for trans-Atlantic flying, and it likes what it sees. “What we’ve seen so far is very, very interesting to us,” Andrew Levy, United’s chief financial officer, said in an […]
This article was sourced from Bloomberg. Article by Karl Lester M Yap. The Sule Pagoda in Yangon.Photographer: Brent Lewin/Bloomberg Myanmar’s economy is among the global pacesetters in terms of growth. By most other measures, it’s one of the laggards — a legacy of five decades of isolationist military rule. The optimism that greeted the Southeast Asian […]
This article was sourced from Business Insider. Article by Rachael Levy. The world’s third largest asset manager just installed a bronze statue of a defiant girl in front of Wall Street’s iconic charging bull as part of its new campaign to pressure companies to add more women to their boards. State Street Global Advisors, a nearly […]
This article was sourced from Insolvency News. Metro Bank has launched a specialist large commercial banking team focussed on supporting businesses with turnover of more than £10m. A team of 10 will focus on companies with £10m-plus turnover and debt in excess of £3m. It will also support organisations with day-to-day banking requirements, such as […]
This article was sourced from Insolvency News. Personal insolvencies have dropped year-on-year but young parents are suffering most, according to information services group Experian. Statistics from the group found the number of people facing insolvency during the third quarter of this year has decreased by 14 percent compared to the same period last year. This figure […]
This article was sourced from Market Watch. Article by Wallace Witkowski. If there’s one thing stock-market investors care about most under President Donald Trump’s administration, it’s taxes—and how soon they’re going to get cut. In a survey of more than 350 clients and prospective clients conducted in late February, Nicholas Colas, chief market strategist at brokerage Convergex, […]
This article was sourced from Market Watch. Article by Tony Garcia. Dick’s Sporting Goods conducted a business review in light of big 2016 changes, including The Sports Authority liquidation Getty Images Dick’s divided vendors into segments and will eliminate“Segment C” vendors Dick’s Sporting Goods Inc. said Tuesday that after conducting a review of its business, it […]
This article was sourced from Market Watch. Article by Thomas H Kee Jr. Equity investors will receive information in three important areas over the next week, and two have been the driving force behind the stock market’s recent euphoria. First, China will release its export data on Wednesday. Given the growth warnings officials communicated over the […]
This article was sourced from Bloomberg. Article by Ellen Huet. There are a few early clues that a startup will be successful, according to market researcher Quid: Have the company’s founders worked together before? Is the business in a hot sector, one where many other new startups are also focusing? Has it raised funding at a […]
This article was sourced from Bloomberg. Article by Shelly Hagan. After a euphoric market debut, Snap Inc. shares dropped for the first time in three days and fell below the opening price of $24 on their first day of public trading after analysts began weighing in with their thoughts on the company’s true valuation. The parent company […]
This article was sourced from Bloomberg. Article by Eddie Van Der Walt. Rhodium’s on the best run in a decade on expectations of more demand for the material that’s used in cleaning toxic car emissions. One of the rarest precious metals, it climbed the past seven months and is up 19 percent this year, outperforming most […]
This article was sourced from Fast Company. Article by Daniel Terdiman. Virtual reality has been around for decades, but 2016 was the year millions of consumers got their hands on the technology for the very first time. Though the headsets are still bulky and ugly, they’re giving people breathtakingly immersive digital experiences. At the same time, […]