Creditors of Essar Steel India Ltd <ESRG.UL> have approved a joint offer by ArcelorMittal SA <MT.AS> and Japan’s Nippon Steel & Sumitomo Metal Corp <5401.T> as the final bid for the debt-laden asset, ArcelorMittal said in a statement on Friday. This paves the way for the two companies to take control of the 10 million […] Read more
The stock market drop in October has been unsettling for anyone with a portfolio, particularly after a 3 percent plunge Wednesday that wiped out the year’s gains. Could this be the beginning of a larger crash, or a recession? Well sure, it could. But even before accounting for the moderate rebound in markets Thursday morning, […] Read more
Gourmet Burger Kitchen has earmarked 17 stores for closure as part of a company voluntary arrangement aimed at turning the troubled business around. The company, owned by South African group Famous Brands, previously announced it would take a £47.2m hit due to sustained under-performance, and has recorded heavy losses in the past. Famous Brands brought in […] Read more
Retail billionaire Sir Philip Green has been named in Parliament as the businessman accused of sexual harassment. Lord Peter Hain, who identified him in the Lords, said it was his duty to name him, given the “serious and repeated” nature of the allegations. On Tuesday, the Telegraph ran an article accusing an unnamed businessman of […] Read more
