By Kazeem Ugbodaga President Bola Tinubu on Friday defended his administration’s decision to remove fuel subsidy, declaring that the controversial policy rescued Nigeria from imminent bankruptcy and placed the economy on the path of recovery. The President spoke in Lagos while hosting state governors who paid him a Sallah visit and joined him in celebrating…
Scottish DJ and producer Calvin Harris has filed an arbitration demand accusing his former financial advisor, Thomas St. John, of stealing $22.5 million intended for real estate investments. The legal action, filed last week in Los Angeles Superior Court, claims that St. John directed the funds instead toward a Hollywood “boondoggle” development project. The timing…
(Bloomberg) — After a drawn-out saga involving a restructuring and a management shakeup, one of the most prominent names in US solar, SunPower Corp., has now filed for bankruptcy. Most Read from Bloomberg Over the course of less than two years, the once-darling of the industry was forced to fire workers to cut costs, restate…
When Renewcell AB opened its inaugural commercial factory in 2022, it was hailed as a beacon of hope for a more sustainable future in fashion. Launched in a repurposed paper mill in Sweden, the world’s first industrial-scale textile-to-textile recycling plant represented a project of unparalleled ambition that would pave the way for an entire new industry. Just over…
The UK-based cosmetics company, The Body Shop, shut down all of its US-based operations and will soon be closing dozens of Canadian store locations after filing for bankruptcy, CNN reported. Earlier this month, The Body Shop, in an official release, announced that its US subsidiary was no longer operational, effective March 1. It further added…
JHVEPhoto/iStock Editorial via Getty Images Crafts retailer Joann (NASDAQ:JOAN) could file for bankruptcy as soon as next week, Bloomberg News reported on Saturday, citing people with knowledge of the matter. The filing would be part of a deal that would hand the reins over to Joann’s (JOAN) lenders and allow it to shed debt, Bloomberg…
