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Bankruptcy

Proponents of Puerto Rico's statehood say it is the only way to give Puerto Ricans a voice, vote and equal footing in federal assistance programmes [Xavier Garcia-Bloomberg]

Puerto Ricans to vote on statehood

When Puerto Ricans go to the polls Nov. 3 to elect their governor they’ll also be asked, once again, if they want to be the 51st star on the American flag.
A South African Airways (SAA) plane is towed at O.R. Tambo International Airport in Johannesburg, South Africa, January 18, 2020. REUTERS-Rogan Ward-File Photo

Ethiopian Airlines in rescue talks with South African Airways – official

Ethiopian Airlines is in talks over possible involvement in the rescue of flagship carrier South African Airways (SAA), the head of the airline told Reuters on Friday.
Currency depreciation, inflation, negative growth, businesses closed- Algeria's economy has been battered by the one-two punch of the coronavirus crisis and tumbling oil revenues.

Algeria economy rocked by one-two punch of coronavirus crisis

Currency depreciation, inflation, negative growth, businesses closed: Algeria's economy has been battered by the one-two punch of the coronavirus crisis and tumbling oil revenues.
A U.S. judge on Tuesday sentenced former Google engineer Anthony Levandowski to 18 months in prison for stealing a trade secret from Google related to self-driving cars months before becoming the head of Uber’s rival unit.

Former Google engineer Levandowski gets 18 months sentence for stealing trade secrets

A U.S. judge on Tuesday sentenced former Google engineer Anthony Levandowski to 18 months in prison for stealing a trade secret from Google related to self-driving cars months before becoming the head of Uber’s rival unit.
It would be recalled that the Kogi State Government leased the Confluence Beach Hotel and Gulf Club to Capital Boutique Limited, a private investor earlier in the month. The move has been criticised by some people in the State.

Group opposed business agreement on Confluence Beach Hotel

A social cultural organization, Kogi Patriotic Group, KPG, has rejected in strong terms the handing over of public assets belonging to the Kogi people by the State Government, under translucent circumstances, describing such as a rape of the people.
A South African Airways (SAA) Airbus A320-200 aircraft is pictured after landing at Cape Town International Airport in Cape Town, South Africa December 9, 2019. REUTERS-Sumaya Hisham-File Photo

South African Airways creditors approve rescue plan

South African Airways (SAA) creditors approved a rescue plan for the struggling airline on Tuesday that requires at least 10 billion rand ($596 million) in new funding, throwing the ball into the government’s court to come up with the cash.
Space exploration firm OneWeb has filed for Chapter 11 bankruptcy protection, GeekWire reports, leaving uncertainty about the 74 satellites it has in orbit and its plans to provide high-speed internet from space.

UK government takes $500 million stake in space exploration firm OneWeb

OneWeb, which has its headquarters in the UK, filed for Chapter 11 bankruptcy protection in the US in March, after it was unable to secure financing. Bharti Global also will invest $500 million as part of the deal.
Vice President Yemi Osinbajo on Wednesday presided over the weekly Federal Executive Council (FEC) meeting at the Presidential Villa, Abuja.

VP Osinbajo calls for national debate to reduce size of government

The Vice President, Prof Yemi Osinbajo, says Nigeria needs a national debate to address the issues around the size of government and cost of governance in Nigeria.
Latin America’s largest airline LATAM Airlines Group SA said on Tuesday the company and its affiliates in Chile, Peru, Colombia, Ecuador and the U.S. have filed for Chapter 11 bankruptcy protection in the United States.

Latin America’s largest airline files for bankruptcy protection

Latin America’s largest airline LATAM Airlines Group SA said on Tuesday the company and its affiliates in Chile, Peru, Colombia, Ecuador and the U.S. have filed for Chapter 11 bankruptcy protection in the United States.
Global satellite operator Intelsat filed for bankruptcy protection on Thursday, citing disruption from to its business from the virus pandemic, in a move aimed at restructuring its operations.

Intelsat files for bankruptcy, seeks to restructure

Global satellite operator Intelsat filed for bankruptcy protection on Thursday, citing disruption from to its business from the virus pandemic, in a move aimed at restructuring its operations.
A South African Airways (SAA) plane is towed at O.R. Tambo International Airport in Johannesburg, South Africa, January 18, 2020. REUTERS-Rogan Ward-File Photo

South African Airways layoff deadline suspended pending court ruling

The deadline for South African Airways (SAA) staff to agree layoff terms has been suspended while a judge considers his ruling in a court case brought by two trade unions at the cash-strapped airline.
Chancellor Angela Merkel

German chancellor gives go-ahead for Bundesliga to restart May 15

The Bundesliga will resume on May 15, the German league confirmed Wednesday, after Chancellor Angela Merkel and state leaders gave the green light to restart behind closed doors following weeks of shutdown imposed to control the spread of the coronavirus.
As things stand, the DFL have insisted Bundesliga games will go ahead this weekend before play is stopped on Tuesday until April.

Bundesliga to return in May

Berlin plans to allow Germany’s Bundesliga to restart behind closed doors in May after weeks of shutdown imposed to control the spread of the coronavirus, according to a draft government agreement seen by AFP Wednesday.
A passenger is seen at the South African Airways (SAA) customer desk, after SAA announced that it would immediately suspend all intercontinental flights until May 31 in response to a government travel ban aimed at stopping the spread of the coronavirus disease (COVID-19), at the O.R. Tambo International Airport in Johannesburg, South Africa March 20, 2020. REUTERS/Siphiwe Sibeko

South African Airways could shed staff from May 12 – specialists

South African Airways could start shedding its 5,000 staff from May 12 if unions and workers do not accept a proposed severance deal, administrators trying to rescue the airline said on Sunday.
President of the Nigeria Labour Congress (NLC), Mr Ayuba Wabba

NLC: Nigeria on pathway to economic bankruptcy

As a result of massive petroleum products importation and debt overhang, the Nigeria Labour Congress (NLC) has raised the alarm, saying Nigeria is on the pathway to economic bankruptcy.
Shoppers walk past an Edgars store at a shopping centre in Soweto, southwest of Johannesburg, file. REUTERS-Siphiwe Sibeko

South African retailer Edcon to file for bankruptcy protection

South African non-food retailer Edcon will file for a form of bankruptcy protection after the coronavirus pandemic has hammered sales, leaving it without money to pay creditors and suppliers, it said on Wednesday.
SA Express, which flies to domestic and regional destinations, entered a form of bankruptcy protection earlier this year after losing a court battle with a contractor, logistics firm Ziegler.

South African state airline SA Express faces liquidation

A South African court placed state-owned SA Express under “provisional liquidation” on Tuesday after the airline’s administrators said rescue efforts weren’t likely to succeed.
With Senate Majority Leader Mitch McConnell leading the way, President Donald Trump has been putting his imprint on the federal judiciary for generations to come - AP

US Senate majority leader under fire by state governors

U.S. Senate Republican leader Mitch McConnell has come under fire of state governors following his suggestion that states whose finances are depleted by the coronavirus epidemic could declare bankruptcy.

Recent Stories

Akwa Ibom State Governmenthas embarked on on-the-spot assessment of properties vandalized in Uyo, the state capital as an aftermath of the #EndSARS protest.

Akwa Ibom government tours properties vandalised by hoodlums

Akwa Ibom State Government has embarked on on-the-spot assessment of properties vandalized in Uyo, the state capital as an aftermath of the #EndSARS protest.
Gov. Ben Ayade of Cross River has directed applicants for the 8,000 automatic jobs to enlist through their respective village heads.

Cross River governor charges security agents to restore order in Calabar

Gov. Ben Ayade of Cross River has charged security agencies in the state to take legitimate actions to halt the spate of arson and carnage witnessed in some parts of Calabar.
President Muhammadu Buhari

#EndSARS: President Buhari sends ministers to home states

President Muhammadu Buhari has sent his ministers to their home states in a move to douse tensions that resulted from the #ENDSARS protests, the crisis that succeeded them and then sell the Federal government’s decision to ensure police reforms and other issues the youths raised.
(FILES) In this file photo taken on April 09, 2019 Brazilian football great Edson Arantes do Nascimento, known as Pele, arrives at Guarulhos International Airport, in Guarulhos some 25km from Sao Paulo, Brazil. – Brazilian football legend Pele “lives reclusive” and “suffers from a form of depression” because he cannot walk normally, his son revealed on Monday at Globoesporte.com. (Photo by NELSON ALMEIDA / AFP)

Pele: Cristiano Ronaldo better than Lionel Messi but i’m greatest player ever

Brazilian legend Pele has claimed that Cristiano Ronaldo is better than Lionel Messi but insisted that he is still the greatest footballer of all time.
As the #EndSARS protests turn violent in different parts of the country, a Methodist Bishop, Dr Sunday Onuoha, has called on the demonstrating youths not to take the laws into their own hands.

#EndSARS: Methodist Bishop sues for peace

As the #EndSARS protests turn violent in different parts of the country, a Methodist Bishop, Dr Sunday Onuoha, has called on the demonstrating youths not to take the laws into their own hands.