News That Matters

Tag: crisis

America's Other Energy Crisis: What to Eat Before, During, and After a Workout

America's Other Energy Crisis: What to Eat Before, During, and After a Workout

Health
 By Julie Upton, RD I don’t write about my first love, sports, all that much, but if you’ve read a few of my posts you may know that I spend the better part of the fall watching the NFL Network and that my winter, spring, and summer revolve around whatever athletic events I'm training for and watching.   So, it may come to no surprise to you that I’ve recently co-authored a book, released last week, on sports nutrition.  It’s called Energy to Burn: The Ultimate Food and Nutrition Guide to Fuel Your Active Life.My book provides the answers to today's other energy crisis—the one faced by everyone from professional ...
Group-level resolution for crisis, debt unlikely: IL&FS board

Group-level resolution for crisis, debt unlikely: IL&FS board

Finance
The Uday Kotak-led board of Infrastructure Leasing and Financial Services (IL&FS) had informed the National Company Law Tribunal (NCLT) Monday that a single group-level resolution for the crisis and the Rs 91,000 crore debt seems tough and it will focus on vertical as well as asset-level resolution. Through the group-level resolution, the board was looking at a significant capital infusion from strong investors. "Based on an outreach conducted by the FTA, the initial assessment seems to indicate that currently, the group-level resolution option is unlikely to materialise," the board said in its second report on progress and way forward submitted to the NCLT. The board is engaging with financial and transaction advisors (FTAs) to assess the vertical and asset-level resolution options consid...
Are your debt mutual funds in danger because of IL&FS, NBFC crisis?

Are your debt mutual funds in danger because of IL&FS, NBFC crisis?

Finance
The IL&FS default saga and crisis in the NBFC space are casting a long shadow in the debt mutual fund space. The recent dip in NAV of two debt mutual fund schemes of Tata Mutual fund that held IL&FS papers further spooked investors. Tata Money Market Fund saw a 5.94 per cent dip in its NAV on October 29. Tata Short Term Fund also saw a 3.2 per cent fall in its NAV. The dip in NAV of Tata schemes was because the fund house wrote off the balance 50 per cent of its investment in the commercial paper of IL&FS after the infrastructure company failed to pay the maturity proceeds. The CP was to mature on October 29. “The IL&FS paper matured this month and we did not get the money, so we had to write it down to zero. Rs 25 crore CP had matured in Tata Short Term Bond Fund and we did...
No liquidity crisis, says government official

No liquidity crisis, says government official

Finance
NEW DELHI: There is surplus liquidity in the system and no cause for concern over that, an official said on Friday after the government held a meeting with bankers to take stock of the situation, especially for non-banking finance companies (NBFCs). “Banks said they are buying portfolios of NBFCs and there is no shortage of liquidity,” the government official said, adding that most NBFCs have also said they have surplus reserves. Defaults by infrastructure development and finance company IL&FS and its subsidiaries had led to concerns of grave repercussions on the credit market, leading to a liquidity crisis. “Already enough actions have been taken and there is no undue panic,” said another official who attended the meeting. Last week, the Reserve Bank of India (...
Patisserie Valerie crisis 'over £20m black hole'

Patisserie Valerie crisis 'over £20m black hole'

Business
The owner of Patisserie Valerie, one of ‎Britain's largest chains of casual dining outlets, will be plunged into crisis on Wednesday when it reveals that it has found a multimillion pound black hole in its accounts. Sky News has learnt that Patisserie Holdings, which trades using the ticker CAKE,‎ is likely to have its shares suspended as a result of the discovery of financial irregularities.The ‎situation will create a huge headache for Luke Johnson, one of Britain's best-known and most successful entrepreneurs, who is Patisserie Holdings' executive chairman and largest shareholder.A leisure industry source said on Tuesday night that Chris Marsh, Patisserie Holdings' finance director, was likely to be suspended or temporarily step aside during an investigat...